RED1: 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.
RED1
Largest movements
- Current investments +€1.7m
new in 2025: €1.7m
- Cash +€467,622
up €467,622 (+166%), from €282,378 to €750,000
mainly Net result for the year (+€1.6m) and Investment in fixed assets (net) (+€460,594)
- Financial fixed assets -€460,594
down €460,594 (-29.1%), from €1.6m to €1.1m
- Reserves +€1.6m
up €1.6m (+408%), from €401,057 to €2.0m
of which Distributable reserves: +€1.6m
- Tax, wage and social debts +€152,735
up €152,735 (+2,779%), from €5,496 to €158,231
of which Taxes: +€152,735
- Other debts -€118,844
down €118,844 (-98.3%), from €120,943 to €2,100
- Financial income +€2.1m
up €2.1m (+11,353%), from €18,070 to €2.1m
of which Financial income: +€1.5m
- Financial charges +€252,236
up €252,236 (+1,053%), from €23,955 to €276,191
of which Non-recurring financial charges: +€250,000
- Taxes +€154,016
up €154,016 (+1,472%), from €10,464 to €164,481
- Gross operating margin -€30,861
down €30,861 (-74.7%), from €41,306 to €10,445
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 | €1,887,512 | €3,557,092 | +€1.7m | +88.5% |
| Fixed assets | 21/28 | €1,588,174 | €1,126,224 | -€461,949 | -29.1% |
| Tangible fixed assets | 22/27 | €3,892 | €2,536 | -€1,355 | -34.8% |
| Furniture and vehicles | 24 | €3,892 | €2,536 | -€1,355 | -34.8% |
| Financial fixed assets | 28 | €1,584,282 | €1,123,688 | -€460,594 | -29.1% |
| Current assets | 29/58 | €299,338 | €2,430,868 | +€2.1m | +712% |
| Amounts receivable within one year | 40/41 | €0 | €8,866 | +€8,866 | |
| Trade receivables | 40 | - | €8,000 | +€8,000 | |
| Other amounts receivable | 41 | €0 | €866 | +€866 | |
| Current investments | 50/53 | - | €1,650,000 | +€1.7m | |
| Cash at bank and in hand | 54/58 | €282,378 | €750,000 | +€467,622 | +166% |
| Deferred charges and accrued income | 490/1 | €16,960 | €22,001 | +€5,042 | +29.7% |
| Total equity and liabilities | 10/49 | €1,887,512 | €3,557,092 | +€1.7m | +88.5% |
| Equity | 10/15 | €1,261,057 | €2,897,779 | +€1.6m | +130% |
| Contributions | 10/11 | €860,000 | €860,000 | = | 0.0% |
| Reserves | 13 | €401,057 | €2,037,779 | +€1.6m | +408% |
| Non-distributable reserves | 130/1 | €59,000 | €59,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €59,000 | €59,000 | = | 0.0% |
| Distributable reserves | 133 | €342,057 | €1,978,779 | +€1.6m | +478% |
| Amounts payable | 17/49 | €626,455 | €659,313 | +€32,858 | +5.2% |
| Amounts payable after more than one year | 17 | €475,000 | €470,000 | -€5,000 | -1.1% |
| Financial debts | 170/4 | €475,000 | €470,000 | -€5,000 | -1.1% |
| Amounts payable within one year | 42/48 | €127,523 | €163,150 | +€35,628 | +27.9% |
| Trade debts | 44 | €1,084 | €2,820 | +€1,737 | +160% |
| Suppliers | 440/4 | €1,084 | €2,820 | +€1,737 | +160% |
| Taxes, remuneration and social security | 45 | €5,496 | €158,231 | +€152,735 | +2,779% |
| Taxes | 450/3 | €2,996 | €155,731 | +€152,735 | +5,099% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €120,943 | €2,100 | -€118,844 | -98.3% |
| Accrued charges and deferred income | 492/3 | €23,932 | €26,162 | +€2,230 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,355 | €1,355 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,178 | €1,136 | -€41 | -3.5% |
| Gross operating margin | 9900 | €41,306 | €10,445 | -€30,861 | -74.7% |
| Operating profit (loss) | 9901 | €38,773 | €7,953 | -€30,820 | -79.5% |
| Financial income | 75/76B | €18,070 | €2,069,441 | +€2.1m | +11,353% |
| Recurring financial income | 75 | €18,070 | €1,519,441 | +€1.5m | +8,309% |
| Non-recurring financial income | 76B | - | €550,000 | +€550,000 | |
| Financial charges | 65/66B | €23,955 | €276,191 | +€252,236 | +1,053% |
| Recurring financial charges | 65 | €23,955 | €26,191 | +€2,236 | +9.3% |
| Non-recurring financial charges | 66B | - | €250,000 | +€250,000 | |
| Profit (loss) for the period before taxes | 9903 | €32,888 | €1,801,203 | +€1.8m | +5,377% |
| Income taxes | 67/77 | €10,464 | €164,481 | +€154,016 | +1,472% |
| Profit (loss) for the period | 9904 | €22,423 | €1,636,722 | +€1.6m | +7,199% |
| Profit (loss) for the period to be appropriated | 9905 | €22,423 | €1,636,722 | +€1.6m | +7,199% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.