REDGY VANDECASTEELE: 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.
REDGY VANDECASTEELE
Largest movements
- Tangible fixed assets +€243,302
up €243,302 (+927%), from €26,252 to €269,554
of which Other tangible fixed assets: +€247,504
- Current investments -€25,502
down €25,502 (-12.7%), from €201,197 to €175,695
- Receivables within one year +€13,643
up €13,643 (+166%), from €8,226 to €21,869
- Debts after one year +€183,333
new in 2025: €183,333
- Reserves +€35,066
up €35,066 (+17.5%), from €200,280 to €235,346
of which Distributable reserves: +€35,066
- Current portion of long-term debt +€16,667
new in 2025: €16,667
- Gross operating margin +€35,524
up €35,524 (+16.5%), from €215,879 to €251,403
- Staff costs -€13,916
down €13,916 (-10.7%), from €130,230 to €116,313
- Taxes +€4,884
up €4,884 (+22.1%), from €22,144 to €27,028
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 | €257,730 | €492,392 | +€234,663 | +91.1% |
| Fixed assets | 21/28 | €29,227 | €272,528 | +€243,302 | +832% |
| Tangible fixed assets | 22/27 | €26,252 | €269,554 | +€243,302 | +927% |
| Plant, machinery and equipment | 23 | €9,922 | €11,990 | +€2,068 | +20.8% |
| Furniture and vehicles | 24 | €14,451 | €8,180 | -€6,271 | -43.4% |
| Other tangible fixed assets | 26 | €1,879 | €249,383 | +€247,504 | +13,171% |
| Financial fixed assets | 28 | €2,975 | €2,975 | = | 0.0% |
| Current assets | 29/58 | €228,503 | €219,864 | -€8,639 | -3.8% |
| Amounts receivable within one year | 40/41 | €8,226 | €21,869 | +€13,643 | +166% |
| Other amounts receivable | 41 | €8,226 | €21,869 | +€13,643 | +166% |
| Current investments | 50/53 | €201,197 | €175,695 | -€25,502 | -12.7% |
| Cash at bank and in hand | 54/58 | €15,548 | €18,659 | +€3,111 | +20.0% |
| Deferred charges and accrued income | 490/1 | €3,532 | €3,641 | +€109 | +3.1% |
| Total equity and liabilities | 10/49 | €257,730 | €492,392 | +€234,663 | +91.1% |
| Equity | 10/15 | €242,145 | €277,211 | +€35,066 | +14.5% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €200,280 | €235,346 | +€35,066 | +17.5% |
| Tax-exempt reserves | 132 | €3,514 | €3,514 | = | 0.0% |
| Distributable reserves | 133 | €196,766 | €231,832 | +€35,066 | +17.8% |
| Profit (loss) carried forward | 14 | €34,866 | €34,866 | = | 0.0% |
| Amounts payable | 17/49 | €15,584 | €215,181 | +€199,597 | +1,281% |
| Amounts payable after more than one year | 17 | - | €183,333 | +€183,333 | |
| Financial debts | 170/4 | - | €183,333 | +€183,333 | |
| Amounts payable within one year | 42/48 | €15,584 | €31,848 | +€16,263 | +104% |
| Current portion of amounts payable after more than one year | 42 | - | €16,667 | +€16,667 | |
| Trade debts | 44 | €1,640 | €2,220 | +€580 | +35.4% |
| Suppliers | 440/4 | €1,640 | €2,220 | +€580 | +35.4% |
| Taxes, remuneration and social security | 45 | €13,944 | €12,961 | -€983 | -7.1% |
| Remuneration and social security | 454/9 | €13,944 | €12,961 | -€983 | -7.1% |
| Remuneration, social security and pensions | 62 | €130,230 | €116,313 | -€13,916 | -10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,210 | €20,074 | +€1,864 | +10.2% |
| Other operating charges | 640/8 | €1,610 | €2,470 | +€859 | +53.4% |
| Non-recurring operating charges | 66A | €402 | €15,010 | +€14,608 | +3,636% |
| Gross operating margin | 9900 | €215,879 | €251,403 | +€35,524 | +16.5% |
| Operating profit (loss) | 9901 | €65,427 | €97,536 | +€32,109 | +49.1% |
| Financial income | 75/76B | €1,331 | €3,115 | +€1,784 | +134% |
| Recurring financial income | 75 | €1,331 | €3,115 | +€1,784 | +134% |
| Financial charges | 65/66B | €3,026 | €1,557 | -€1,468 | -48.5% |
| Recurring financial charges | 65 | €3,026 | €1,557 | -€1,468 | -48.5% |
| Profit (loss) for the period before taxes | 9903 | €63,732 | €99,094 | +€35,362 | +55.5% |
| Income taxes | 67/77 | €22,144 | €27,028 | +€4,884 | +22.1% |
| Profit (loss) for the period | 9904 | €41,588 | €72,066 | +€30,478 | +73.3% |
| Profit (loss) for the period to be appropriated | 9905 | €41,588 | €72,066 | +€30,478 | +73.3% |
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 28 October 2026 via checked.be.