REDECOR: 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.
REDECOR
Largest movements
- Receivables within one year +€107,879
up €107,879 (+134%), from €80,696 to €188,575
of which Trade receivables: +€103,766
- Cash -€72,994
down €72,994 (-91.8%), from €79,532 to €6,539
mainly Receivables within one year (-€107,879) and Contributions, distributions and other (-€22,704)
- Tangible fixed assets -€3,378
down €3,378 (-22.7%), from €14,856 to €11,478
of which Plant, machinery and equipment: -€1,726
- Debts after one year +€40,000
up €40,000 (+200%), from €20,000 to €60,000
- Reserves -€33,784
down €33,784 (-40.5%), from €83,473 to €49,689
- Tax, wage and social debts +€12,724
up €12,724 (+474%), from €2,685 to €15,410
of which Remuneration and social security: +€13,513
- Other debts +€11,475
up €11,475 (+19.6%), from €58,439 to €69,914
- Staff costs -€9,857
down €9,857 (-18.9%), from €52,189 to €42,333
- Gross operating margin -€4,224
down €4,224 (-10.1%), from €41,830 to €37,605
- Depreciation +€1,433
up €1,433 (+73.7%), from €1,945 to €3,378
- Financial charges +€1,103
up €1,103 (+267%), from €413 to €1,517
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 | €182,070 | €213,731 | +€31,662 | +17.4% |
| Fixed assets | 21/28 | €14,986 | €11,608 | -€3,378 | -22.5% |
| Tangible fixed assets | 22/27 | €14,856 | €11,478 | -€3,378 | -22.7% |
| Plant, machinery and equipment | 23 | €8,335 | €6,610 | -€1,726 | -20.7% |
| Furniture and vehicles | 24 | €6,521 | €4,868 | -€1,653 | -25.3% |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €167,084 | €202,123 | +€35,040 | +21.0% |
| Amounts receivable after more than one year | 29 | €2,923 | €2,923 | = | 0.0% |
| Other amounts receivable | 291 | €2,923 | €2,923 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €80,696 | €188,575 | +€107,879 | +134% |
| Trade receivables | 40 | €79,913 | €183,679 | +€103,766 | +130% |
| Other amounts receivable | 41 | €783 | €4,896 | +€4,113 | +526% |
| Cash at bank and in hand | 54/58 | €79,532 | €6,539 | -€72,994 | -91.8% |
| Deferred charges and accrued income | 490/1 | €3,932 | €4,086 | +€155 | +3.9% |
| Total equity and liabilities | 10/49 | €182,070 | €213,731 | +€31,662 | +17.4% |
| Equity | 10/15 | €89,673 | €55,889 | -€33,784 | -37.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €83,473 | €49,689 | -€33,784 | -40.5% |
| Distributable reserves | 133 | €83,473 | €49,689 | -€33,784 | -40.5% |
| Amounts payable | 17/49 | €92,397 | €157,842 | +€65,445 | +70.8% |
| Amounts payable after more than one year | 17 | €20,000 | €60,000 | +€40,000 | +200% |
| Financial debts | 170/4 | €20,000 | €60,000 | +€40,000 | +200% |
| Amounts payable within one year | 42/48 | €72,050 | €97,842 | +€25,792 | +35.8% |
| Trade debts | 44 | €10,926 | €12,519 | +€1,592 | +14.6% |
| Suppliers | 440/4 | €10,926 | €12,519 | +€1,592 | +14.6% |
| Taxes, remuneration and social security | 45 | €2,685 | €15,410 | +€12,724 | +474% |
| Taxes | 450/3 | €789 | - | -€789 | |
| Remuneration and social security | 454/9 | €1,896 | €15,410 | +€13,513 | +713% |
| Other amounts payable | 47/48 | €58,439 | €69,914 | +€11,475 | +19.6% |
| Accrued charges and deferred income | 492/3 | €347 | - | -€347 | |
| Remuneration, social security and pensions | 62 | €52,189 | €42,333 | -€9,857 | -18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,945 | €3,378 | +€1,433 | +73.7% |
| Other operating charges | 640/8 | €1,097 | €1,233 | +€136 | +12.4% |
| Gross operating margin | 9900 | €41,830 | €37,605 | -€4,224 | -10.1% |
| Operating profit (loss) | 9901 | -€13,402 | -€9,338 | +€4,063 | +30.3% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €413 | €1,517 | +€1,103 | +267% |
| Recurring financial charges | 65 | €413 | €1,517 | +€1,103 | +267% |
| Profit (loss) for the period before taxes | 9903 | -€13,815 | -€10,854 | +€2,962 | +21.4% |
| Income taxes | 67/77 | €217 | €226 | +€9 | +4.1% |
| Profit (loss) for the period | 9904 | -€14,033 | -€11,080 | +€2,953 | +21.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,033 | -€11,080 | +€2,953 | +21.0% |
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 14 October 2026 via checked.be.