RECX: 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.
RECX
Largest movements
- Current investments -€155,000
down €155,000 (-77.5%), from €199,993 to €44,993
- Cash -€7,129
down €7,129 (-6.9%), from €103,386 to €96,258
mainly Contributions, distributions and other (-€280,000) and Tax, wage and social debts (-€31,952)
- Profit (loss) carried forward -€185,984
down €185,984 (-73.2%), from €253,985 to €68,001
- Other debts +€56,180
up €56,180 (+386.5%), from €14,534 to €70,715
- Tax, wage and social debts -€31,952
down €31,952 (-67.8%), from €47,136 to €15,184
- Gross operating margin -€15,439
down €15,439 (-11.2%), from €138,015 to €122,576
- Depreciation -€7,563
down €7,563 (-74.0%), from €10,220 to €2,657
- Financial income +€2,180
up €2,180 (+98.1%), from €2,222 to €4,402
- Taxes -€1,716
down €1,716 (-6.3%), from €27,342 to €25,626
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 | €320,569 | €158,937 | -€161,632 | -50.4% |
| Fixed assets | 21/28 | €2,354 | €4,354 | +€2,001 | +85.0% |
| Tangible fixed assets | 22/27 | €2,354 | €4,354 | +€2,001 | +85.0% |
| Plant, machinery and equipment | 23 | €505 | €165 | -€341 | -67.4% |
| Furniture and vehicles | 24 | €1,848 | €4,189 | +€2,341 | +126.7% |
| Current assets | 29/58 | €318,216 | €154,583 | -€163,632 | -51.4% |
| Amounts receivable within one year | 40/41 | €14,837 | €13,333 | -€1,504 | -10.1% |
| Trade receivables | 40 | €14,837 | €11,138 | -€3,699 | -24.9% |
| Other amounts receivable | 41 | - | €2,195 | +€2,195 | |
| Current investments | 50/53 | €199,993 | €44,993 | -€155,000 | -77.5% |
| Cash at bank and in hand | 54/58 | €103,386 | €96,258 | -€7,129 | -6.9% |
| Total equity and liabilities | 10/49 | €320,569 | €158,937 | -€161,632 | -50.4% |
| Equity | 10/15 | €256,985 | €71,001 | -€185,984 | -72.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €253,985 | €68,001 | -€185,984 | -73.2% |
| Amounts payable | 17/49 | €63,585 | €87,937 | +€24,352 | +38.3% |
| Amounts payable within one year | 42/48 | €63,504 | €87,825 | +€24,321 | +38.3% |
| Trade debts | 44 | €1,834 | €1,927 | +€92 | +5.0% |
| Suppliers | 440/4 | €1,834 | €1,927 | +€92 | +5.0% |
| Taxes, remuneration and social security | 45 | €47,136 | €15,184 | -€31,952 | -67.8% |
| Taxes | 450/3 | €47,136 | €15,184 | -€31,952 | -67.8% |
| Other amounts payable | 47/48 | €14,534 | €70,715 | +€56,180 | +386.5% |
| Accrued charges and deferred income | 492/3 | €80 | €112 | +€32 | +39.2% |
| Remuneration, social security and pensions | 62 | €4,524 | €3,974 | -€550 | -12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,220 | €2,657 | -€7,563 | -74.0% |
| Other operating charges | 640/8 | €246 | €591 | +€345 | +140.2% |
| Gross operating margin | 9900 | €138,015 | €122,576 | -€15,439 | -11.2% |
| Operating profit (loss) | 9901 | €123,025 | €115,354 | -€7,671 | -6.2% |
| Financial income | 75/76B | €2,222 | €4,402 | +€2,180 | +98.1% |
| Recurring financial income | 75 | €2,222 | €4,402 | +€2,180 | +98.1% |
| Financial charges | 65/66B | €54 | €114 | +€60 | +111.2% |
| Recurring financial charges | 65 | €54 | €114 | +€60 | +111.2% |
| Profit (loss) for the period before taxes | 9903 | €125,193 | €119,642 | -€5,551 | -4.4% |
| Income taxes | 67/77 | €27,342 | €25,626 | -€1,716 | -6.3% |
| Profit (loss) for the period | 9904 | €97,851 | €94,016 | -€3,835 | -3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €97,851 | €94,016 | -€3,835 | -3.9% |
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 9 October 2026 via checked.be.