RED ELECTRIC'S: what changed
What changed
RED ELECTRIC'S
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€122,386
2024 · €150,290-€27,904
Equity
€1.0m
2024 · €1.2m-€133,614
Cash
€406,574
2024 · €816,623-€410,049
Balance sheet total
€1.4m
2024 · €1.4m-€1,318
Largest movements
Assets
- Cash -€410,049
down €410,049 (-50.2%), from €816,623 to €406,574
mainly Investment in fixed assets (net) (-€482,434) and Contributions, distributions and other (-€256,000)
- Tangible fixed assets +€380,160
up €380,160 (+80.2%), from €474,148 to €854,309
of which Land and buildings: +€398,231
- Receivables within one year +€29,420
up €29,420 (+78.2%), from €37,634 to €67,054
of which Trade receivables: +€26,258
Equity and liabilities
- Reserves -€148,332
down €148,332 (-19.5%), from €761,757 to €613,425
of which Distributable reserves: -€146,000
- Other debts +€133,989
up €133,989 (+82.4%), from €162,608 to €296,596
- Profit (loss) carried forward +€14,718
up €14,718 (+3.9%), from €378,517 to €393,235
Income statement
- Depreciation +€54,420
up €54,420 (+114%), from €47,745 to €102,165
- Gross operating margin +€15,059
up €15,059 (+4.7%), from €318,365 to €333,424
- Taxes -€14,768
down €14,768 (-21.4%), from €69,103 to €54,335
- Staff costs +€4,578
up €4,578 (+10.1%), from €45,407 to €49,985
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€150,290
Gross operating margin
+€15,059
Staff costs
-€4,578
Depreciation
-€54,420
Other operating charges
+€2,174
Financial income
-€3,213
Financial charges
+€2,306
Taxes
+€14,768
Result 2025
€122,386
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€337,147
Investment
-€482,434
Financing
-€264,763
Cash 2024
€816,623
From operations (derived)
+€337,147
Net result for the year
+€122,386
Depreciation
+€102,165
Receivables within one year
-€29,420
Smaller working-capital items
+€626
Trade debts
+€2,969
Tax, wage and social debts
+€4,433
Other debts
+€133,989
Investment (derived)
-€482,434
Investment in fixed assets (net)
-€482,434
Financing
-€264,763
Current portion of long-term debt
-€8,763
Contributions, distributions and other
-€256,000
Cash 2025
€406,574
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,356,533 | €1,355,215 | -€1,318 | -0.1% |
| Fixed assets | 21/28 | €491,781 | €872,051 | +€380,269 | +77.3% |
| Tangible fixed assets | 22/27 | €474,148 | €854,309 | +€380,160 | +80.2% |
| Land and buildings | 22 | €409,738 | €807,969 | +€398,231 | +97.2% |
| Plant, machinery and equipment | 23 | €2,995 | €2,290 | -€705 | -23.5% |
| Furniture and vehicles | 24 | €61,416 | €39,991 | -€21,425 | -34.9% |
| Assets under construction and advance payments | 27 | - | €4,059 | +€4,059 | |
| Financial fixed assets | 28 | €17,633 | €17,742 | +€109 | +0.6% |
| Current assets | 29/58 | €864,752 | €483,164 | -€381,588 | -44.1% |
| Stocks and contracts in progress | 3 | €1,000 | €1,000 | = | 0.0% |
| Stocks | 30/36 | €1,000 | €1,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €37,634 | €67,054 | +€29,420 | +78.2% |
| Trade receivables | 40 | €26,321 | €52,579 | +€26,258 | +99.8% |
| Other amounts receivable | 41 | €11,312 | €14,475 | +€3,162 | +28.0% |
| Cash at bank and in hand | 54/58 | €816,623 | €406,574 | -€410,049 | -50.2% |
| Deferred charges and accrued income | 490/1 | €9,495 | €8,537 | -€958 | -10.1% |
| Total equity and liabilities | 10/49 | €1,356,533 | €1,355,215 | -€1,318 | -0.1% |
| Equity | 10/15 | €1,158,874 | €1,025,260 | -€133,614 | -11.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €761,757 | €613,425 | -€148,332 | -19.5% |
| Tax-exempt reserves | 132 | €99,897 | €97,565 | -€2,332 | -2.3% |
| Distributable reserves | 133 | €661,860 | €515,860 | -€146,000 | -22.1% |
| Profit (loss) carried forward | 14 | €378,517 | €393,235 | +€14,718 | +3.9% |
| Provisions and deferred taxes | 16 | €3,198 | €2,707 | -€491 | -15.3% |
| Deferred taxes | 168 | €3,198 | €2,707 | -€491 | -15.3% |
| Amounts payable | 17/49 | €194,461 | €327,247 | +€132,786 | +68.3% |
| Amounts payable within one year | 42/48 | €192,609 | €325,237 | +€132,628 | +68.9% |
| Current portion of amounts payable after more than one year | 42 | €8,763 | - | -€8,763 | |
| Trade debts | 44 | €10,174 | €13,143 | +€2,969 | +29.2% |
| Suppliers | 440/4 | €10,174 | €13,143 | +€2,969 | +29.2% |
| Taxes, remuneration and social security | 45 | €11,065 | €15,498 | +€4,433 | +40.1% |
| Taxes | 450/3 | €5,660 | €8,611 | +€2,951 | +52.1% |
| Remuneration and social security | 454/9 | €5,405 | €6,886 | +€1,482 | +27.4% |
| Other amounts payable | 47/48 | €162,608 | €296,596 | +€133,989 | +82.4% |
| Accrued charges and deferred income | 492/3 | €1,852 | €2,010 | +€158 | +8.6% |
| Remuneration, social security and pensions | 62 | €45,407 | €49,985 | +€4,578 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,745 | €102,165 | +€54,420 | +114% |
| Other operating charges | 640/8 | €13,323 | €11,149 | -€2,174 | -16.3% |
| Gross operating margin | 9900 | €318,365 | €333,424 | +€15,059 | +4.7% |
| Operating profit (loss) | 9901 | €211,890 | €170,126 | -€41,765 | -19.7% |
| Financial income | 75/76B | €9,810 | €6,597 | -€3,213 | -32.8% |
| Recurring financial income | 75 | €9,810 | €6,597 | -€3,213 | -32.8% |
| Financial charges | 65/66B | €2,798 | €491 | -€2,306 | -82.4% |
| Recurring financial charges | 65 | €2,798 | €491 | -€2,306 | -82.4% |
| Profit (loss) for the period before taxes | 9903 | €218,903 | €176,231 | -€42,672 | -19.5% |
| Transfer from deferred taxes | 780 | €491 | €491 | = | 0.0% |
| Income taxes | 67/77 | €69,103 | €54,335 | -€14,768 | -21.4% |
| Profit (loss) for the period | 9904 | €150,290 | €122,386 | -€27,904 | -18.6% |
| Transfer from tax-exempt reserves | 789 | €2,332 | €2,332 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €152,622 | €124,718 | -€27,904 | -18.3% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.