Recta: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Recta
Largest movements
- Receivables within one year +€16,624
up €16,624 (+22.2%), from €74,816 to €91,440
of which Trade receivables: +€11,793
- Cash -€4,271
down €4,271 (-4.7%), from €91,646 to €87,375
mainly Receivables within one year (-€16,624) and Investment in fixed assets (net) (-€200)
- Trade debts +€5,258
up €5,258 (+111.3%), from €4,725 to €9,983
- Tax, wage and social debts +€3,033
up €3,033 (+380.5%), from €797 to €3,830
- Profit (loss) carried forward +€2,531
up €2,531 (+6.3%), from -€40,477 to -€37,946
- Gross operating margin -€15,343
down €15,343 (-34.8%), from €44,114 to €28,772
- Staff costs +€3,357
up €3,357 (+15.1%), from €22,281 to €25,638
- Financial income -€1,529
no longer reported in 2025 (was €1,529)
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €203,128 | €213,950 | +€10,823 | +5.3% |
| Fixed assets | 21/28 | €8,250 | €7,848 | -€402 | -4.9% |
| Tangible fixed assets | 22/27 | €3,588 | €2,986 | -€602 | -16.8% |
| Plant, machinery and equipment | 23 | €2,160 | €1,876 | -€285 | -13.2% |
| Furniture and vehicles | 24 | €1,427 | €1,110 | -€317 | -22.2% |
| Financial fixed assets | 28 | €4,662 | €4,862 | +€200 | +4.3% |
| Current assets | 29/58 | €194,878 | €206,103 | +€11,225 | +5.8% |
| Stocks and contracts in progress | 3 | €26,566 | €25,438 | -€1,128 | -4.2% |
| Stocks | 30/36 | €26,566 | €25,438 | -€1,128 | -4.2% |
| Amounts receivable within one year | 40/41 | €74,816 | €91,440 | +€16,624 | +22.2% |
| Trade receivables | 40 | €34,338 | €46,130 | +€11,793 | +34.3% |
| Other amounts receivable | 41 | €40,479 | €45,310 | +€4,831 | +11.9% |
| Cash at bank and in hand | 54/58 | €91,646 | €87,375 | -€4,271 | -4.7% |
| Deferred charges and accrued income | 490/1 | €1,850 | €1,850 | = | 0.0% |
| Total equity and liabilities | 10/49 | €203,128 | €213,950 | +€10,823 | +5.3% |
| Equity | 10/15 | €163,606 | €166,137 | +€2,531 | +1.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €185,482 | €185,482 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €183,622 | €183,622 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,477 | -€37,946 | +€2,531 | +6.3% |
| Amounts payable | 17/49 | €39,522 | €47,814 | +€8,291 | +21.0% |
| Amounts payable after more than one year | 17 | €34,000 | €34,000 | = | 0.0% |
| Financial debts | 170/4 | €34,000 | €34,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €5,522 | €13,814 | +€8,291 | +150.1% |
| Trade debts | 44 | €4,725 | €9,983 | +€5,258 | +111.3% |
| Suppliers | 440/4 | €4,725 | €9,983 | +€5,258 | +111.3% |
| Taxes, remuneration and social security | 45 | €797 | €3,830 | +€3,033 | +380.5% |
| Taxes | 450/3 | €797 | €3,830 | +€3,033 | +380.5% |
| Remuneration, social security and pensions | 62 | €22,281 | €25,638 | +€3,357 | +15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €444 | €602 | +€159 | +35.8% |
| Gross operating margin | 9900 | €44,114 | €28,772 | -€15,343 | -34.8% |
| Operating profit (loss) | 9901 | €21,390 | €2,531 | -€18,859 | -88.2% |
| Financial income | 75/76B | €1,529 | - | -€1,529 | |
| Recurring financial income | 75 | €1,529 | - | -€1,529 | |
| Profit (loss) for the period before taxes | 9903 | €22,919 | €2,531 | -€20,388 | -89.0% |
| Profit (loss) for the period | 9904 | €22,919 | €2,531 | -€20,388 | -89.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,919 | €2,531 | -€20,388 | -89.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.