Red Sky: 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 Sky
Largest movements
- Tangible fixed assets -€31,537
down €31,537 (-3.9%), from €812,107 to €780,571
of which Land and buildings: -€31,537
- Debts after one year -€71,649
down €71,649 (-4.3%), from €1.7m to €1.6m
- Profit (loss) carried forward +€45,437
up €45,437 (+11.9%), from €382,765 to €428,202
- Financial income -€50,009
down €50,009 (-41.7%), from €120,000 to €69,991
- Financial charges -€2,703
down €2,703 (-5.0%), from €54,401 to €51,698
- Gross operating margin +€983
up €983 (+1.7%), from €58,845 to €59,828
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 | €2,240,535 | €2,211,737 | -€28,798 | -1.3% |
| Fixed assets | 21/28 | €2,237,107 | €2,205,571 | -€31,537 | -1.4% |
| Tangible fixed assets | 22/27 | €812,107 | €780,571 | -€31,537 | -3.9% |
| Land and buildings | 22 | €746,947 | €715,411 | -€31,537 | -4.2% |
| Other tangible fixed assets | 26 | €65,160 | €65,160 | = | 0.0% |
| Financial fixed assets | 28 | €1,425,000 | €1,425,000 | = | 0.0% |
| Current assets | 29/58 | €3,428 | €6,167 | +€2,738 | +79.9% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €3,228 | €6,167 | +€2,938 | +91.0% |
| Deferred charges and accrued income | 490/1 | €200 | €0 | -€200 | -100.0% |
| Total equity and liabilities | 10/49 | €2,240,535 | €2,211,737 | -€28,798 | -1.3% |
| Equity | 10/15 | €401,365 | €446,802 | +€45,437 | +11.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €382,765 | €428,202 | +€45,437 | +11.9% |
| Amounts payable | 17/49 | €1,839,171 | €1,764,936 | -€74,235 | -4.0% |
| Amounts payable after more than one year | 17 | €1,679,735 | €1,608,086 | -€71,649 | -4.3% |
| Financial debts | 170/4 | €1,679,735 | €1,608,086 | -€71,649 | -4.3% |
| Amounts payable within one year | 42/48 | €158,998 | €156,495 | -€2,503 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €150,623 | €151,649 | +€1,026 | +0.7% |
| Trade debts | 44 | €4,054 | €777 | -€3,276 | -80.8% |
| Suppliers | 440/4 | €4,054 | €777 | -€3,276 | -80.8% |
| Taxes, remuneration and social security | 45 | €4,321 | €4,068 | -€253 | -5.8% |
| Taxes | 450/3 | €4,321 | €4,068 | -€253 | -5.8% |
| Accrued charges and deferred income | 492/3 | €438 | €355 | -€83 | -18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,537 | €31,537 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,086 | €1,148 | +€62 | +5.7% |
| Gross operating margin | 9900 | €58,845 | €59,828 | +€983 | +1.7% |
| Operating profit (loss) | 9901 | €26,223 | €27,144 | +€921 | +3.5% |
| Financial income | 75/76B | €120,000 | €69,991 | -€50,009 | -41.7% |
| Recurring financial income | 75 | €120,000 | €69,991 | -€50,009 | -41.7% |
| Financial charges | 65/66B | €54,401 | €51,698 | -€2,703 | -5.0% |
| Recurring financial charges | 65 | €54,401 | €51,698 | -€2,703 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €91,822 | €45,437 | -€46,385 | -50.5% |
| Profit (loss) for the period | 9904 | €91,822 | €45,437 | -€46,385 | -50.5% |
| Profit (loss) for the period to be appropriated | 9905 | €91,822 | €45,437 | -€46,385 | -50.5% |
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 6 October 2026 via checked.be.