REDES: what changed
Two fiscal 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.
REDES
Largest movements
- Stocks and contracts +€618,615
up €618,615 (+240.9%), from €256,749 to €875,364
- Current portion of long-term debt +€384,000
new in 2025: €384,000
- Debts after one year +€175,927
up €175,927 (+75.2%), from €234,000 to €409,927
- Reserves +€34,335
up €34,335 (+30.9%), from €111,249 to €145,585
- Accrued charges and deferred income +€10,611
up €10,611 (+1885.1%), from €563 to €11,173
- Gross operating margin -€126,949
down €126,949 (-71.6%), from €177,187 to €50,239
- Taxes -€21,752
down €21,752 (-71.4%), from €30,485 to €8,733
- Financial charges -€10,679
down €10,679 (-61.0%), from €17,493 to €6,815
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 | €386,938 | €995,290 | +€608,352 | +157.2% |
| Current assets | 29/58 | €386,938 | €995,290 | +€608,352 | +157.2% |
| Stocks and contracts in progress | 3 | €256,749 | €875,364 | +€618,615 | +240.9% |
| Stocks | 30/36 | €256,749 | €875,364 | +€618,615 | +240.9% |
| Amounts receivable within one year | 40/41 | €16,181 | €11,275 | -€4,907 | -30.3% |
| Trade receivables | 40 | €6,667 | - | -€6,667 | |
| Other amounts receivable | 41 | €9,515 | €11,275 | +€1,760 | +18.5% |
| Cash at bank and in hand | 54/58 | €113,929 | €107,254 | -€6,675 | -5.9% |
| Deferred charges and accrued income | 490/1 | €79 | €1,397 | +€1,318 | +1665.2% |
| Total equity and liabilities | 10/49 | €386,938 | €995,290 | +€608,352 | +157.2% |
| Equity | 10/15 | €121,249 | €155,585 | +€34,335 | +28.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €111,249 | €145,585 | +€34,335 | +30.9% |
| Distributable reserves | 133 | €111,249 | €145,585 | +€34,335 | +30.9% |
| Amounts payable | 17/49 | €265,689 | €839,706 | +€574,017 | +216.0% |
| Amounts payable after more than one year | 17 | €234,000 | €409,927 | +€175,927 | +75.2% |
| Financial debts | 170/4 | €234,000 | €409,927 | +€175,927 | +75.2% |
| Amounts payable within one year | 42/48 | €31,126 | €418,606 | +€387,480 | +1244.9% |
| Current portion of amounts payable after more than one year | 42 | - | €384,000 | +€384,000 | |
| Trade debts | 44 | €31,126 | €25,872 | -€5,253 | -16.9% |
| Suppliers | 440/4 | €31,126 | €25,872 | -€5,253 | -16.9% |
| Taxes, remuneration and social security | 45 | - | €8,733 | +€8,733 | |
| Taxes | 450/3 | - | €8,733 | +€8,733 | |
| Accrued charges and deferred income | 492/3 | €563 | €11,173 | +€10,611 | +1885.1% |
| Other operating charges | 640/8 | €513 | €613 | +€100 | +19.4% |
| Non-recurring operating charges | 66A | €4,388 | - | -€4,388 | |
| Gross operating margin | 9900 | €177,187 | €50,239 | -€126,949 | -71.6% |
| Operating profit (loss) | 9901 | €172,286 | €49,626 | -€122,661 | -71.2% |
| Financial income | 75/76B | - | €257 | +€257 | |
| Recurring financial income | 75 | - | €257 | +€257 | |
| Financial charges | 65/66B | €17,493 | €6,815 | -€10,679 | -61.0% |
| Recurring financial charges | 65 | €17,493 | €6,815 | -€10,679 | -61.0% |
| Profit (loss) for the period before taxes | 9903 | €154,793 | €43,068 | -€111,725 | -72.2% |
| Income taxes | 67/77 | €30,485 | €8,733 | -€21,752 | -71.4% |
| Profit (loss) for the period | 9904 | €124,308 | €34,335 | -€89,973 | -72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €124,308 | €34,335 | -€89,973 | -72.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.