REDASCO: 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.
What changed
REDASCO
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€84,854
2024 · €112,059-€27,204
Equity
€804,677
2024 · €719,822+€84,854
Cash
€301,890
2024 · €349,770-€47,879
Balance sheet total
€859,296
2024 · €931,227-€71,931
Largest movements
Assets
- Cash -€47,879
down €47,879 (-13.7%), from €349,770 to €301,890
mainly Debts after one year (-€82,739) and Current portion of long-term debt (-€56,854)
- Tangible fixed assets -€17,436
down €17,436 (-3.3%), from €522,617 to €505,181
of which Plant, machinery and equipment: -€25,338
Equity and liabilities
- Reserves +€84,613
up €84,613 (+32.9%), from €257,375 to €341,988
of which Distributable reserves: +€87,000
- Debts after one year -€82,739
down €82,739 (-100%), from €82,739 to €0
- Current portion of long-term debt -€56,854
down €56,854 (-100%), from €56,854 to €0
- Other debts -€10,959
down €10,959 (-100%), from €10,959 to €0
Income statement
- Financial income -€21,988
down €21,988 (-97.8%), from €22,477 to €489
of which Non-recurring financial income: -€22,274
- Staff costs +€7,286
up €7,286 (+6.1%), from €119,796 to €127,082
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.
Result 2024
€112,059
Gross operating margin
+€1,324
Staff costs
-€7,286
Depreciation
+€856
Other operating charges
+€12
Other operating items
+€13
Financial income
-€21,988
Financial charges
+€1,724
Taxes
-€1,859
Result 2025
€84,854
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€108,575
Investment
-€12,105
Financing
-€144,349
Cash 2024
€349,770
From operations (derived)
+€108,575
Net result for the year
+€84,854
Depreciation
+€29,263
Receivables within one year
+€5,723
Deferred charges and accrued income
+€1,171
Provisions
-€1,003
Trade debts
-€5,023
Tax, wage and social debts
+€6,696
Other debts
-€10,959
Accrued charges and deferred income
-€2,147
Investment (derived)
-€12,105
Investment in fixed assets (net)
-€11,827
Current investments
-€279
Financing
-€144,349
Debts after one year
-€82,739
Current portion of long-term debt
-€56,854
Short-term financial debts
-€4,756
Cash 2025
€301,890
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €931,227 | €859,296 | -€71,931 | -7.7% |
| Fixed assets | 21/28 | €522,770 | €505,334 | -€17,436 | -3.3% |
| Tangible fixed assets | 22/27 | €522,617 | €505,181 | -€17,436 | -3.3% |
| Land and buildings | 22 | €452,664 | €452,664 | = | 0.0% |
| Plant, machinery and equipment | 23 | €67,864 | €42,526 | -€25,338 | -37.3% |
| Furniture and vehicles | 24 | €2,089 | €9,991 | +€7,902 | +378% |
| Financial fixed assets | 28 | €153 | €153 | = | 0.0% |
| Current assets | 29/58 | €408,457 | €353,963 | -€54,495 | -13.3% |
| Amounts receivable within one year | 40/41 | €28,036 | €22,313 | -€5,723 | -20.4% |
| Trade receivables | 40 | €1,580 | €1,500 | -€80 | -5.1% |
| Other amounts receivable | 41 | €26,456 | €20,813 | -€5,643 | -21.3% |
| Current investments | 50/53 | €20,279 | €20,558 | +€279 | +1.4% |
| Cash at bank and in hand | 54/58 | €349,770 | €301,890 | -€47,879 | -13.7% |
| Deferred charges and accrued income | 490/1 | €10,373 | €9,202 | -€1,171 | -11.3% |
| Total equity and liabilities | 10/49 | €931,227 | €859,296 | -€71,931 | -7.7% |
| Equity | 10/15 | €719,822 | €804,677 | +€84,854 | +11.8% |
| Contributions | 10/11 | €248,592 | €248,592 | = | 0.0% |
| Reserves | 13 | €257,375 | €341,988 | +€84,613 | +32.9% |
| Tax-exempt reserves | 132 | €21,515 | €19,129 | -€2,387 | -11.1% |
| Distributable reserves | 133 | €235,859 | €322,859 | +€87,000 | +36.9% |
| Profit (loss) carried forward | 14 | €213,855 | €214,097 | +€241 | +0.1% |
| Provisions and deferred taxes | 16 | €9,038 | €8,035 | -€1,003 | -11.1% |
| Deferred taxes | 168 | €9,038 | €8,035 | -€1,003 | -11.1% |
| Amounts payable | 17/49 | €202,367 | €46,585 | -€155,783 | -77.0% |
| Amounts payable after more than one year | 17 | €82,739 | €0 | -€82,739 | -100% |
| Financial debts | 170/4 | €82,739 | €0 | -€82,739 | -100% |
| Amounts payable within one year | 42/48 | €117,481 | €46,585 | -€70,897 | -60.3% |
| Current portion of amounts payable after more than one year | 42 | €56,854 | €0 | -€56,854 | -100% |
| Financial debts | 43 | €18,846 | €14,090 | -€4,756 | -25.2% |
| Credit institutions | 430/8 | €14,145 | €14,090 | -€55 | -0.4% |
| Other loans | 439 | €4,701 | €0 | -€4,701 | -100% |
| Trade debts | 44 | €9,332 | €4,309 | -€5,023 | -53.8% |
| Suppliers | 440/4 | €9,332 | €4,309 | -€5,023 | -53.8% |
| Taxes, remuneration and social security | 45 | €21,490 | €28,186 | +€6,696 | +31.2% |
| Taxes | 450/3 | €7,165 | €11,387 | +€4,222 | +58.9% |
| Remuneration and social security | 454/9 | €14,326 | €16,799 | +€2,473 | +17.3% |
| Other amounts payable | 47/48 | €10,959 | €0 | -€10,959 | -100% |
| Accrued charges and deferred income | 492/3 | €2,147 | €0 | -€2,147 | -100% |
| Non-recurring operating income | 76A | €2,220 | €462 | -€1,758 | -79.2% |
| Remuneration, social security and pensions | 62 | €119,796 | €127,082 | +€7,286 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,119 | €29,263 | -€856 | -2.8% |
| Other operating charges | 640/8 | €8,045 | €8,033 | -€12 | -0.1% |
| Non-recurring operating charges | 66A | €335 | €323 | -€13 | -3.8% |
| Gross operating margin | 9900 | €286,624 | €287,947 | +€1,324 | +0.5% |
| Operating profit (loss) | 9901 | €128,328 | €123,246 | -€5,081 | -4.0% |
| Financial income | 75/76B | €22,477 | €489 | -€21,988 | -97.8% |
| Recurring financial income | 75 | €203 | €489 | +€286 | +141% |
| Non-recurring financial income | 76B | €22,274 | €0 | -€22,274 | -100% |
| Financial charges | 65/66B | €4,977 | €3,253 | -€1,724 | -34.6% |
| Recurring financial charges | 65 | €4,667 | €2,988 | -€1,680 | -36.0% |
| Non-recurring financial charges | 66B | €310 | €265 | -€44 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €145,828 | €120,483 | -€25,345 | -17.4% |
| Transfer from deferred taxes | 780 | €1,003 | €1,003 | = | 0.0% |
| Income taxes | 67/77 | €34,771 | €36,631 | +€1,859 | +5.3% |
| Profit (loss) for the period | 9904 | €112,059 | €84,854 | -€27,204 | -24.3% |
| Transfer from tax-exempt reserves | 789 | €2,387 | €2,387 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €114,445 | €87,241 | -€27,204 | -23.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.