RED Consult: 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.
RED Consult
Largest movements
- Receivables within one year -€197,881
down €197,881 (-78.1%), from €253,445 to €55,563
of which Other amounts receivable: -€130,804
- Cash +€52,077
up €52,077 (+74.2%), from €70,214 to €122,291
mainly Receivables within one year (+€197,881) and Net result for the year (+€63,015)
- Tangible fixed assets -€15,711
down €15,711 (-8.1%), from €193,755 to €178,043
of which Land and buildings: -€12,437
- Receivables after one year +€11,359
up €11,359 (+5.6%), from €203,929 to €215,287
- Reserves -€138,000
down €138,000 (-26.6%), from €518,793 to €380,793
of which Distributable reserves: -€138,000
- Other debts +€30,255
up €30,255 (+1200.6%), from €2,520 to €32,775
- Tax, wage and social debts -€30,210
down €30,210 (-64.3%), from €46,997 to €16,787
- Debts after one year -€11,576
down €11,576 (-7.5%), from €155,155 to €143,579
- Gross operating margin +€51,218
up €51,218 (+110.0%), from €46,578 to €97,796
- Taxes +€11,838
up €11,838 (+92.9%), from €12,749 to €24,587
- Financial income -€6,617
down €6,617 (-36.5%), from €18,121 to €11,505
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 | €757,933 | €609,253 | -€148,680 | -19.6% |
| Fixed assets | 21/28 | €229,655 | €213,943 | -€15,711 | -6.8% |
| Tangible fixed assets | 22/27 | €193,755 | €178,043 | -€15,711 | -8.1% |
| Land and buildings | 22 | €188,215 | €175,778 | -€12,437 | -6.6% |
| Furniture and vehicles | 24 | €5,540 | €2,265 | -€3,275 | -59.1% |
| Financial fixed assets | 28 | €35,900 | €35,900 | = | 0.0% |
| Current assets | 29/58 | €528,279 | €395,310 | -€132,969 | -25.2% |
| Amounts receivable after more than one year | 29 | €203,929 | €215,287 | +€11,359 | +5.6% |
| Trade receivables | 290 | €203,929 | €215,287 | +€11,359 | +5.6% |
| Amounts receivable within one year | 40/41 | €253,445 | €55,563 | -€197,881 | -78.1% |
| Trade receivables | 40 | €78,099 | €11,021 | -€67,078 | -85.9% |
| Other amounts receivable | 41 | €175,345 | €44,542 | -€130,804 | -74.6% |
| Cash at bank and in hand | 54/58 | €70,214 | €122,291 | +€52,077 | +74.2% |
| Deferred charges and accrued income | 490/1 | €692 | €2,169 | +€1,477 | +213.6% |
| Total equity and liabilities | 10/49 | €757,933 | €609,253 | -€148,680 | -19.6% |
| Equity | 10/15 | €539,682 | €402,696 | -€136,985 | -25.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €518,793 | €380,793 | -€138,000 | -26.6% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €516,793 | €378,793 | -€138,000 | -26.7% |
| Profit (loss) carried forward | 14 | €888 | €1,903 | +€1,015 | +114.2% |
| Amounts payable | 17/49 | €218,252 | €206,557 | -€11,695 | -5.4% |
| Amounts payable after more than one year | 17 | €155,155 | €143,579 | -€11,576 | -7.5% |
| Financial debts | 170/4 | €155,155 | €143,579 | -€11,576 | -7.5% |
| Amounts payable within one year | 42/48 | €63,097 | €62,978 | -€119 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €12,286 | €12,531 | +€244 | +2.0% |
| Financial debts | 43 | €331 | €0 | -€331 | -100.0% |
| Credit institutions | 430/8 | €331 | €0 | -€331 | -100.0% |
| Trade debts | 44 | €962 | €886 | -€76 | -7.9% |
| Suppliers | 440/4 | €962 | €886 | -€76 | -7.9% |
| Taxes, remuneration and social security | 45 | €46,997 | €16,787 | -€30,210 | -64.3% |
| Taxes | 450/3 | €46,997 | €16,787 | -€30,210 | -64.3% |
| Other amounts payable | 47/48 | €2,520 | €32,775 | +€30,255 | +1200.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,297 | €15,471 | +€175 | +1.1% |
| Other operating charges | 640/8 | €2,794 | €2,353 | -€441 | -15.8% |
| Non-recurring operating charges | 66A | €240 | €240 | = | 0.0% |
| Gross operating margin | 9900 | €46,578 | €97,796 | +€51,218 | +110.0% |
| Operating profit (loss) | 9901 | €28,247 | €79,732 | +€51,485 | +182.3% |
| Financial income | 75/76B | €18,121 | €11,505 | -€6,617 | -36.5% |
| Recurring financial income | 75 | €18,121 | €11,505 | -€6,617 | -36.5% |
| Financial charges | 65/66B | €4,011 | €3,635 | -€376 | -9.4% |
| Recurring financial charges | 65 | €4,011 | €3,635 | -€376 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €42,358 | €87,602 | +€45,244 | +106.8% |
| Income taxes | 67/77 | €12,749 | €24,587 | +€11,838 | +92.9% |
| Profit (loss) for the period | 9904 | €29,609 | €63,015 | +€33,406 | +112.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,609 | €63,015 | +€33,406 | +112.8% |
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 4 October 2026 via checked.be.