REDNESD: what changed
REDNESD
Largest movements
- Receivables within one year +€28,817
up €28,817 (+111%), from €25,848 to €54,665
of which Other amounts receivable: +€26,669
- Tangible fixed assets -€27,229
down €27,229 (-7.0%), from €390,904 to €363,675
of which Land and buildings: -€27,318
- Cash -€4,707
down €4,707 (-12.6%), from €37,255 to €32,548
mainly Receivables within one year (-€28,817) and Debts after one year (-€13,394)
- Debts after one year -€13,394
down €13,394 (-6.2%), from €217,094 to €203,700
- Reserves +€8,692
up €8,692 (+4.3%), from €200,357 to €209,048
of which Distributable reserves: +€8,692
- Taxes +€1,470
up €1,470 (+52.1%), from €2,820 to €4,290
- Financial income +€728
up €728 (+78.7%), from €925 to €1,653
- Other operating charges -€648
down €648 (-22.6%), from €2,866 to €2,218
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €454,047 | €450,888 | -€3,159 | -0.7% |
| Fixed assets | 21/28 | €390,904 | €363,675 | -€27,229 | -7.0% |
| Tangible fixed assets | 22/27 | €390,904 | €363,675 | -€27,229 | -7.0% |
| Land and buildings | 22 | €339,725 | €312,407 | -€27,318 | -8.0% |
| Plant, machinery and equipment | 23 | €40,125 | €37,893 | -€2,232 | -5.6% |
| Furniture and vehicles | 24 | €11,053 | €13,375 | +€2,321 | +21.0% |
| Current assets | 29/58 | €63,143 | €87,213 | +€24,070 | +38.1% |
| Amounts receivable within one year | 40/41 | €25,848 | €54,665 | +€28,817 | +111% |
| Trade receivables | 40 | €5,039 | €7,188 | +€2,149 | +42.6% |
| Other amounts receivable | 41 | €20,809 | €47,477 | +€26,669 | +128% |
| Cash at bank and in hand | 54/58 | €37,255 | €32,548 | -€4,707 | -12.6% |
| Deferred charges and accrued income | 490/1 | €40 | - | -€40 | |
| Total equity and liabilities | 10/49 | €454,047 | €450,888 | -€3,159 | -0.7% |
| Equity | 10/15 | €218,957 | €227,648 | +€8,692 | +4.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €200,357 | €209,048 | +€8,692 | +4.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,994 | €33,994 | = | 0.0% |
| Distributable reserves | 133 | €164,502 | €173,194 | +€8,692 | +5.3% |
| Amounts payable | 17/49 | €235,091 | €223,240 | -€11,851 | -5.0% |
| Amounts payable after more than one year | 17 | €217,094 | €203,700 | -€13,394 | -6.2% |
| Financial debts | 170/4 | €217,094 | €203,700 | -€13,394 | -6.2% |
| Amounts payable within one year | 42/48 | €15,600 | €19,540 | +€3,940 | +25.3% |
| Current portion of amounts payable after more than one year | 42 | €13,132 | €13,394 | +€262 | +2.0% |
| Trade debts | 44 | €1,009 | €278 | -€731 | -72.4% |
| Suppliers | 440/4 | €1,009 | €278 | -€731 | -72.4% |
| Taxes, remuneration and social security | 45 | €1,459 | €5,868 | +€4,409 | +302% |
| Taxes | 450/3 | €1,459 | €5,868 | +€4,409 | +302% |
| Accrued charges and deferred income | 492/3 | €2,397 | - | -€2,397 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,832 | €39,902 | +€71 | +0.2% |
| Other operating charges | 640/8 | €2,866 | €2,218 | -€648 | -22.6% |
| Gross operating margin | 9900 | €58,724 | €58,272 | -€452 | -0.8% |
| Operating profit (loss) | 9901 | €16,026 | €16,152 | +€125 | +0.8% |
| Financial income | 75/76B | €925 | €1,653 | +€728 | +78.7% |
| Recurring financial income | 75 | €925 | €1,653 | +€728 | +78.7% |
| Financial charges | 65/66B | €5,019 | €4,823 | -€196 | -3.9% |
| Recurring financial charges | 65 | €5,019 | €4,823 | -€196 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €11,933 | €12,982 | +€1,049 | +8.8% |
| Income taxes | 67/77 | €2,820 | €4,290 | +€1,470 | +52.1% |
| Profit (loss) for the period | 9904 | €9,112 | €8,692 | -€421 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,112 | €8,692 | -€421 | -4.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.