RECTILIM: what changed
Two financial 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.
What changed
RECTILIM
NACE 25.999, Manufacture of fabricated metal products, except machinery and equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€603,598
2024 · €634,908-€31,310
Equity
€1.6m
2024 · €1.7m-€146,402
Cash
€287,059
2024 · €344,479-€57,420
Balance sheet total
€1.8m
2024 · €1.9m-€147,392
Largest movements
Assets
- Tangible fixed assets -€69,830
down €69,830 (-16.1%), from €434,609 to €364,780
- Cash -€57,420
down €57,420 (-16.7%), from €344,479 to €287,059
mainly Contributions, distributions and other (-€750,000) and Investment in fixed assets (net) (-€31,664)
Equity and liabilities
- Reserves -€146,402
down €146,402 (-9.0%), from €1.6m to €1.5m
of which Distributable reserves: -€146,402
Income statement
- Gross operating margin -€51,224
down €51,224 (-3.3%), from €1.5m to €1.5m
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.
Result 2024
€634,908
Gross operating margin
-€51,224
Staff costs
+€13,363
Depreciation
-€6,233
Other operating charges
-€76
Financial income
+€3,404
Financial charges
+€65
Taxes
+€9,389
Result 2025
€603,598
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€724,244
Investment
-€31,664
Financing
-€750,000
Cash 2024
€344,479
From operations (derived)
+€724,244
Net result for the year
+€603,598
Depreciation
+€101,494
Stocks and contracts
+€6,857
Receivables within one year
+€13,203
Deferred charges and accrued income
+€81
Trade debts
-€3,431
Tax, wage and social debts
+€2,442
Investment (derived)
-€31,664
Investment in fixed assets (net)
-€31,664
Financing
-€750,000
Contributions, distributions and other
-€750,000
Cash 2025
€287,059
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,913,652 | €1,766,260 | -€147,392 | -7.7% |
| Fixed assets | 21/28 | €434,609 | €364,780 | -€69,830 | -16.1% |
| Tangible fixed assets | 22/27 | €434,609 | €364,780 | -€69,830 | -16.1% |
| Land and buildings | 22 | €288,053 | €253,620 | -€34,433 | -12.0% |
| Plant, machinery and equipment | 23 | €139,712 | €109,513 | -€30,199 | -21.6% |
| Furniture and vehicles | 24 | €6,845 | €1,647 | -€5,198 | -75.9% |
| Current assets | 29/58 | €1,479,042 | €1,401,481 | -€77,562 | -5.2% |
| Stocks and contracts in progress | 3 | €524,183 | €517,326 | -€6,857 | -1.3% |
| Stocks | 30/36 | €524,183 | €517,326 | -€6,857 | -1.3% |
| Amounts receivable within one year | 40/41 | €393,144 | €379,941 | -€13,203 | -3.4% |
| Trade receivables | 40 | €291,198 | €283,207 | -€7,991 | -2.7% |
| Other amounts receivable | 41 | €101,946 | €96,735 | -€5,212 | -5.1% |
| Current investments | 50/53 | €217,155 | €217,155 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €344,479 | €287,059 | -€57,420 | -16.7% |
| Deferred charges and accrued income | 490/1 | €81 | - | -€81 | |
| Total equity and liabilities | 10/49 | €1,913,652 | €1,766,260 | -€147,392 | -7.7% |
| Equity | 10/15 | €1,747,943 | €1,601,541 | -€146,402 | -8.4% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €1,623,943 | €1,477,541 | -€146,402 | -9.0% |
| Non-distributable reserves | 130/1 | €229,555 | €229,555 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Own shares acquired | 1312 | €217,155 | €217,155 | = | 0.0% |
| Distributable reserves | 133 | €1,394,388 | €1,247,986 | -€146,402 | -10.5% |
| Amounts payable | 17/49 | €165,709 | €164,720 | -€989 | -0.6% |
| Amounts payable within one year | 42/48 | €165,709 | €164,720 | -€989 | -0.6% |
| Trade debts | 44 | €47,522 | €44,090 | -€3,431 | -7.2% |
| Suppliers | 440/4 | €47,522 | €44,090 | -€3,431 | -7.2% |
| Taxes, remuneration and social security | 45 | €118,187 | €120,629 | +€2,442 | +2.1% |
| Taxes | 450/3 | €39,714 | €46,892 | +€7,179 | +18.1% |
| Remuneration and social security | 454/9 | €78,473 | €73,737 | -€4,736 | -6.0% |
| Remuneration, social security and pensions | 62 | €567,796 | €554,433 | -€13,363 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,262 | €101,494 | +€6,233 | +6.5% |
| Other operating charges | 640/8 | €21,592 | €21,668 | +€76 | +0.4% |
| Gross operating margin | 9900 | €1,534,687 | €1,483,464 | -€51,224 | -3.3% |
| Operating profit (loss) | 9901 | €850,038 | €805,869 | -€44,169 | -5.2% |
| Financial income | 75/76B | €128 | €3,532 | +€3,404 | +2,665% |
| Recurring financial income | 75 | €128 | €3,532 | +€3,404 | +2,665% |
| Financial charges | 65/66B | €602 | €537 | -€65 | -10.8% |
| Recurring financial charges | 65 | €602 | €537 | -€65 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €849,564 | €808,864 | -€40,699 | -4.8% |
| Income taxes | 67/77 | €214,656 | €205,267 | -€9,389 | -4.4% |
| Profit (loss) for the period | 9904 | €634,908 | €603,598 | -€31,310 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €634,908 | €603,598 | -€31,310 | -4.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.