REDEEM ME: 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.
REDEEM ME
Largest movements
- Tangible fixed assets +€25,119
up €25,119 (+36.8%), from €68,234 to €93,352
of which Plant, machinery and equipment: +€24,426
- Cash -€7,159
down €7,159 (-56.2%), from €12,735 to €5,575
mainly Investment in fixed assets (net) (-€37,981) and Accrued charges and deferred income (-€25,351)
- Debts after one year +€40,018
up €40,018 (+89.4%), from €44,782 to €84,800
- Accrued charges and deferred income -€25,351
down €25,351 (-100%), from €25,351 to €0
- Other debts +€22,808
up €22,808 (+1,936%), from €1,178 to €23,987
- Current portion of long-term debt -€14,353
down €14,353 (-100%), from €14,353 to €0
- Profit (loss) carried forward -€8,804
new in 2025: -€8,804
- Gross operating margin -€5,556
down €5,556 (-38.2%), from €14,540 to €8,984
- Depreciation +€4,365
up €4,365 (+51.4%), from €8,497 to €12,862
- Financial charges -€1,566
down €1,566 (-28.5%), from €5,487 to €3,921
- Taxes -€960
down €960 (-87.9%), from €1,093 to €133
- Other operating charges -€297
down €297 (-25.4%), from €1,169 to €872
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 | €99,209 | €117,905 | +€18,696 | +18.8% |
| Fixed assets | 21/28 | €68,234 | €93,352 | +€25,119 | +36.8% |
| Tangible fixed assets | 22/27 | €68,234 | €93,352 | +€25,119 | +36.8% |
| Plant, machinery and equipment | 23 | €62,587 | €87,013 | +€24,426 | +39.0% |
| Furniture and vehicles | 24 | €4,245 | €5,260 | +€1,015 | +23.9% |
| Other tangible fixed assets | 26 | €1,402 | €1,080 | -€322 | -23.0% |
| Current assets | 29/58 | €30,975 | €24,553 | -€6,423 | -20.7% |
| Stocks and contracts in progress | 3 | €7,456 | €7,456 | = | 0.0% |
| Stocks | 30/36 | €7,456 | €7,456 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,981 | €8,736 | +€755 | +9.5% |
| Trade receivables | 40 | €6,233 | €8,588 | +€2,356 | +37.8% |
| Other amounts receivable | 41 | €1,749 | €147 | -€1,601 | -91.6% |
| Cash at bank and in hand | 54/58 | €12,735 | €5,575 | -€7,159 | -56.2% |
| Deferred charges and accrued income | 490/1 | €2,803 | €2,785 | -€18 | -0.6% |
| Total equity and liabilities | 10/49 | €99,209 | €117,905 | +€18,696 | +18.8% |
| Equity | 10/15 | €9,128 | €325 | -€8,804 | -96.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €8,128 | €8,128 | = | 0.0% |
| Distributable reserves | 133 | €8,128 | €8,128 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€8,804 | -€8,804 | |
| Amounts payable | 17/49 | €90,080 | €117,580 | +€27,500 | +30.5% |
| Amounts payable after more than one year | 17 | €44,782 | €84,800 | +€40,018 | +89.4% |
| Financial debts | 170/4 | €44,782 | €84,800 | +€40,018 | +89.4% |
| Amounts payable within one year | 42/48 | €19,947 | €32,780 | +€12,833 | +64.3% |
| Current portion of amounts payable after more than one year | 42 | €14,353 | €0 | -€14,353 | -100% |
| Trade debts | 44 | €1,122 | €5,225 | +€4,103 | +366% |
| Suppliers | 440/4 | €1,122 | €5,225 | +€4,103 | +366% |
| Taxes, remuneration and social security | 45 | €3,294 | €3,569 | +€275 | +8.3% |
| Taxes | 450/3 | €3,294 | €1,919 | -€1,375 | -41.8% |
| Remuneration and social security | 454/9 | €0 | €1,650 | +€1,650 | |
| Other amounts payable | 47/48 | €1,178 | €23,987 | +€22,808 | +1,936% |
| Accrued charges and deferred income | 492/3 | €25,351 | €0 | -€25,351 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,497 | €12,862 | +€4,365 | +51.4% |
| Other operating charges | 640/8 | €1,169 | €872 | -€297 | -25.4% |
| Gross operating margin | 9900 | €14,540 | €8,984 | -€5,556 | -38.2% |
| Operating profit (loss) | 9901 | €4,874 | -€4,750 | -€9,624 | |
| Financial income | 75/76B | €5 | €0 | -€5 | -98.7% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -98.7% |
| Financial charges | 65/66B | €5,487 | €3,921 | -€1,566 | -28.5% |
| Recurring financial charges | 65 | €5,487 | €3,921 | -€1,566 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | -€608 | -€8,671 | -€8,063 | -1,326% |
| Income taxes | 67/77 | €1,093 | €133 | -€960 | -87.9% |
| Profit (loss) for the period | 9904 | -€1,701 | -€8,804 | -€7,103 | -418% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,701 | -€8,804 | -€7,103 | -418% |
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 17 October 2026 via checked.be.