RED CITY: 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.
RED CITY
Largest movements
- Tangible fixed assets -€106,970
down €106,970 (-22.9%), from €467,237 to €360,268
of which Other tangible fixed assets: -€74,125
- Receivables within one year +€31,557
up €31,557 (+101%), from €31,223 to €62,780
of which Trade receivables: +€31,360
- Deferred charges and accrued income -€18,752
no longer reported in 2025 (was €18,752)
- Cash +€14,596
up €14,596 (+1,450%), from €1,007 to €15,603
mainly Investment in fixed assets (net) (+€81,346) and Current portion of long-term debt (+€30,533)
- Debts after one year -€58,152
down €58,152 (-11.7%), from €496,821 to €438,668
of which Financial debts: -€58,152
- Current portion of long-term debt +€30,533
new in 2025: €30,533
- Trade debts -€23,098
down €23,098 (-96.3%), from €23,996 to €898
- Profit (loss) carried forward -€16,352
down €16,352 (-41.6%), from -€39,273 to -€55,625
- Short-term financial debts -€11,643
down €11,643 (-98.6%), from €11,806 to €164
- Gross operating margin -€60,971
down €60,971, from €58,362 to -€2,609
- Financial income +€24,655
up €24,655 (+533,650%), from €5 to €24,659
of which Non-recurring financial income: +€24,657
- Depreciation -€17,787
down €17,787 (-41.0%), from €43,410 to €25,623
- Financial charges -€1,391
down €1,391 (-15.9%), from €8,733 to €7,342
- Other operating charges +€598
up €598 (+13.1%), from €4,559 to €5,157
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 | €518,264 | €438,695 | -€79,568 | -15.4% |
| Fixed assets | 21/28 | €467,282 | €360,313 | -€106,970 | -22.9% |
| Tangible fixed assets | 22/27 | €467,237 | €360,268 | -€106,970 | -22.9% |
| Land and buildings | 22 | €376,644 | €354,488 | -€22,156 | -5.9% |
| Plant, machinery and equipment | 23 | €13,698 | €1,511 | -€12,187 | -89.0% |
| Furniture and vehicles | 24 | €2,770 | €4,268 | +€1,498 | +54.1% |
| Other tangible fixed assets | 26 | €74,125 | - | -€74,125 | |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €50,982 | €78,383 | +€27,401 | +53.7% |
| Amounts receivable within one year | 40/41 | €31,223 | €62,780 | +€31,557 | +101% |
| Trade receivables | 40 | €28,842 | €60,202 | +€31,360 | +109% |
| Other amounts receivable | 41 | €2,381 | €2,578 | +€197 | +8.3% |
| Cash at bank and in hand | 54/58 | €1,007 | €15,603 | +€14,596 | +1,450% |
| Deferred charges and accrued income | 490/1 | €18,752 | - | -€18,752 | |
| Total equity and liabilities | 10/49 | €518,264 | €438,695 | -€79,568 | -15.4% |
| Equity | 10/15 | -€20,537 | -€36,889 | -€16,352 | -79.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €137 | €137 | = | 0.0% |
| Non-distributable reserves | 130/1 | €137 | €137 | = | 0.0% |
| Reserves not available under the articles | 1311 | €137 | €137 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,273 | -€55,625 | -€16,352 | -41.6% |
| Amounts payable | 17/49 | €538,800 | €475,584 | -€63,216 | -11.7% |
| Amounts payable after more than one year | 17 | €496,821 | €438,668 | -€58,152 | -11.7% |
| Financial debts | 170/4 | €396,821 | €338,668 | -€58,152 | -14.7% |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €41,980 | €36,916 | -€5,064 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | - | €30,533 | +€30,533 | |
| Financial debts | 43 | €11,806 | €164 | -€11,643 | -98.6% |
| Credit institutions | 430/8 | €11,806 | €164 | -€11,643 | -98.6% |
| Trade debts | 44 | €23,996 | €898 | -€23,098 | -96.3% |
| Suppliers | 440/4 | €23,996 | €898 | -€23,098 | -96.3% |
| Taxes, remuneration and social security | 45 | €394 | €643 | +€249 | +63.1% |
| Taxes | 450/3 | €394 | €643 | +€249 | +63.1% |
| Other amounts payable | 47/48 | €5,783 | €4,678 | -€1,105 | -19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,410 | €25,623 | -€17,787 | -41.0% |
| Other operating charges | 640/8 | €4,559 | €5,157 | +€598 | +13.1% |
| Gross operating margin | 9900 | €58,362 | -€2,609 | -€60,971 | |
| Operating profit (loss) | 9901 | €10,393 | -€33,389 | -€43,782 | |
| Financial income | 75/76B | €5 | €24,659 | +€24,655 | +533,650% |
| Recurring financial income | 75 | €5 | €3 | -€2 | -42.4% |
| Non-recurring financial income | 76B | - | €24,657 | +€24,657 | |
| Financial charges | 65/66B | €8,733 | €7,342 | -€1,391 | -15.9% |
| Recurring financial charges | 65 | €8,733 | €7,342 | -€1,391 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €1,664 | -€16,071 | -€17,736 | |
| Income taxes | 67/77 | €266 | €281 | +€14 | +5.4% |
| Profit (loss) for the period | 9904 | €1,398 | -€16,352 | -€17,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,398 | -€16,352 | -€17,750 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.