REDEBEL: 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.
REDEBEL
Largest movements
- Cash -€508,285
down €508,285 (-54.5%), from €932,424 to €424,139
mainly Other debts (-€423,069) and Trade debts (-€388,642)
- Tangible fixed assets -€337,778
down €337,778 (-20.3%), from €1.7m to €1.3m
- Receivables within one year -€134,105
down €134,105 (-11.0%), from €1.2m to €1.1m
of which Other amounts receivable: -€98,757
- Other debts -€423,069
down €423,069 (-100.0%), from €423,079 to €10
- Trade debts -€388,642
down €388,642 (-41.4%), from €938,134 to €549,491
- Short-term financial debts -€145,376
no longer reported in 2025 (was €145,376)
- Debts after one year -€76,042
down €76,042 (-5.6%), from €1.4m to €1.3m
of which Other amounts payable: -€226,453
- Profit (loss) carried forward +€46,698
up €46,698 (+6.1%), from -€764,743 to -€718,045
- Staff costs -€608,728
down €608,728 (-28.1%), from €2.2m to €1.6m
- Depreciation -€137,185
down €137,185 (-23.8%), from €575,517 to €438,332
- Gross operating margin +€21,971
up €21,971 (+1.1%), from €2.1m to €2.1m
- Financial income +€20,860
up €20,860 (+242.9%), from €8,587 to €29,447
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 | €3,904,350 | €2,895,695 | -€1.0m | -25.8% |
| Fixed assets | 21/28 | €1,751,978 | €1,379,504 | -€372,474 | -21.3% |
| Intangible fixed assets | 21 | €66,864 | €35,680 | -€31,184 | -46.6% |
| Tangible fixed assets | 22/27 | €1,665,730 | €1,327,952 | -€337,778 | -20.3% |
| Land and buildings | 22 | €813,958 | €748,409 | -€65,548 | -8.1% |
| Plant, machinery and equipment | 23 | €484,747 | €352,437 | -€132,310 | -27.3% |
| Furniture and vehicles | 24 | €367,025 | €227,105 | -€139,920 | -38.1% |
| Financial fixed assets | 28 | €19,384 | €15,872 | -€3,513 | -18.1% |
| Current assets | 29/58 | €2,152,373 | €1,516,192 | -€636,181 | -29.6% |
| Amounts receivable within one year | 40/41 | €1,219,948 | €1,085,844 | -€134,105 | -11.0% |
| Trade receivables | 40 | €1,054,525 | €1,019,178 | -€35,347 | -3.4% |
| Other amounts receivable | 41 | €165,423 | €66,666 | -€98,757 | -59.7% |
| Cash at bank and in hand | 54/58 | €932,424 | €424,139 | -€508,285 | -54.5% |
| Deferred charges and accrued income | 490/1 | - | €6,209 | +€6,209 | |
| Total equity and liabilities | 10/49 | €3,904,350 | €2,895,695 | -€1.0m | -25.8% |
| Equity | 10/15 | €448,468 | €467,731 | +€19,263 | +4.3% |
| Contributions | 10/11 | €597,430 | €597,430 | = | 0.0% |
| Capital | 10 | €597,430 | €597,430 | = | 0.0% |
| Issued capital | 100 | €597,430 | €597,430 | = | 0.0% |
| Reserves | 13 | €516,815 | €516,815 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,743 | €9,743 | = | 0.0% |
| Legal reserve | 130 | €9,743 | €9,743 | = | 0.0% |
| Distributable reserves | 133 | €507,072 | €507,072 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€764,743 | -€718,045 | +€46,698 | +6.1% |
| Investment grants | 15 | €98,967 | €71,532 | -€27,435 | -27.7% |
| Amounts payable | 17/49 | €3,455,882 | €2,427,964 | -€1.0m | -29.7% |
| Amounts payable after more than one year | 17 | €1,369,704 | €1,293,661 | -€76,042 | -5.6% |
| Financial debts | 170/4 | €1,143,251 | €1,293,661 | +€150,410 | +13.2% |
| Other amounts payable | 178/9 | €226,453 | - | -€226,453 | |
| Amounts payable within one year | 42/48 | €2,086,178 | €1,133,864 | -€952,314 | -45.6% |
| Current portion of amounts payable after more than one year | 42 | €235,941 | €250,404 | +€14,464 | +6.1% |
| Financial debts | 43 | €145,376 | - | -€145,376 | |
| Credit institutions | 430/8 | €145,376 | - | -€145,376 | |
| Trade debts | 44 | €938,134 | €549,491 | -€388,642 | -41.4% |
| Suppliers | 440/4 | €938,134 | €549,491 | -€388,642 | -41.4% |
| Advances received on contracts in progress | 46 | €140,351 | €100,548 | -€39,803 | -28.4% |
| Taxes, remuneration and social security | 45 | €203,298 | €233,411 | +€30,113 | +14.8% |
| Taxes | 450/3 | €44,982 | €45,180 | +€197 | +0.4% |
| Remuneration and social security | 454/9 | €158,315 | €188,231 | +€29,915 | +18.9% |
| Other amounts payable | 47/48 | €423,079 | €10 | -€423,069 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €438 | +€438 | |
| Remuneration, social security and pensions | 62 | €2,167,367 | €1,558,639 | -€608,728 | -28.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €575,517 | €438,332 | -€137,185 | -23.8% |
| Other operating charges | 640/8 | €42,035 | €38,244 | -€3,791 | -9.0% |
| Gross operating margin | 9900 | €2,060,744 | €2,082,715 | +€21,971 | +1.1% |
| Operating profit (loss) | 9901 | -€724,175 | €47,500 | +€771,674 | |
| Financial income | 75/76B | €8,587 | €29,447 | +€20,860 | +242.9% |
| Recurring financial income | 75 | €8,587 | €29,447 | +€20,860 | +242.9% |
| Financial charges | 65/66B | €48,457 | €29,694 | -€18,762 | -38.7% |
| Recurring financial charges | 65 | €48,457 | €29,694 | -€18,762 | -38.7% |
| Profit (loss) for the period before taxes | 9903 | -€764,044 | €47,253 | +€811,297 | |
| Income taxes | 67/77 | €699 | €555 | -€144 | -20.6% |
| Profit (loss) for the period | 9904 | -€764,743 | €46,698 | +€811,441 | |
| Profit (loss) for the period to be appropriated | 9905 | -€764,743 | €46,698 | +€811,441 |
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 10 October 2026 via checked.be.