RECTO: 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.
RECTO
Largest movements
- Receivables within one year -€22,596
down €22,596 (-88.5%), from €25,541 to €2,945
- Cash +€4,977
up €4,977 (+179%), from €2,779 to €7,756
mainly Receivables within one year (+€22,596)
- Tax, wage and social debts -€7,982
no longer reported in 2025 (was €7,982)
- Current portion of long-term debt -€4,359
no longer reported in 2025 (was €4,359)
- Profit (loss) carried forward -€3,651
down €3,651 (-47.0%), from -€7,763 to -€11,414
- Trade debts -€1,325
down €1,325 (-47.1%), from €2,811 to €1,486
- Other debts -€302
no longer reported in 2025 (was €302)
- Gross operating margin -€47,268
down €47,268, from €45,375 to -€1,893
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €28,320 | €10,701 | -€17,619 | -62.2% |
| Current assets | 29/58 | €28,320 | €10,701 | -€17,619 | -62.2% |
| Amounts receivable within one year | 40/41 | €25,541 | €2,945 | -€22,596 | -88.5% |
| Trade receivables | 40 | €25,541 | €2,945 | -€22,596 | -88.5% |
| Cash at bank and in hand | 54/58 | €2,779 | €7,756 | +€4,977 | +179% |
| Total equity and liabilities | 10/49 | €28,320 | €10,701 | -€17,619 | -62.2% |
| Equity | 10/15 | €12,807 | €9,156 | -€3,651 | -28.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,978 | €1,978 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €119 | €119 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,763 | -€11,414 | -€3,651 | -47.0% |
| Amounts payable | 17/49 | €15,513 | €1,545 | -€13,968 | -90.0% |
| Amounts payable within one year | 42/48 | €15,454 | €1,486 | -€13,968 | -90.4% |
| Current portion of amounts payable after more than one year | 42 | €4,359 | - | -€4,359 | |
| Trade debts | 44 | €2,811 | €1,486 | -€1,325 | -47.1% |
| Suppliers | 440/4 | €2,811 | €1,486 | -€1,325 | -47.1% |
| Taxes, remuneration and social security | 45 | €7,982 | - | -€7,982 | |
| Taxes | 450/3 | €7,982 | - | -€7,982 | |
| Other amounts payable | 47/48 | €302 | - | -€302 | |
| Accrued charges and deferred income | 492/3 | €59 | €59 | = | 0.0% |
| Non-recurring operating income | 76A | €35,112 | - | -€35,112 | |
| Other operating charges | 640/8 | €394 | €412 | +€18 | +4.6% |
| Gross operating margin | 9900 | €45,375 | -€1,893 | -€47,268 | |
| Operating profit (loss) | 9901 | €44,981 | -€2,305 | -€47,286 | |
| Financial income | 75/76B | €315 | - | -€315 | |
| Recurring financial income | 75 | €315 | - | -€315 | |
| Financial charges | 65/66B | €1,621 | €1,346 | -€275 | -17.0% |
| Recurring financial charges | 65 | €1,621 | €1,346 | -€275 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €43,675 | -€3,651 | -€47,326 | |
| Profit (loss) for the period | 9904 | €43,675 | -€3,651 | -€47,326 | |
| Profit (loss) for the period to be appropriated | 9905 | €43,675 | -€3,651 | -€47,326 |
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 30 October 2026 via checked.be.