Redova: 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.
Redova
Largest movements
- Tangible fixed assets +€251,320
up €251,320 (+514.4%), from €48,858 to €300,177
of which Other tangible fixed assets: +€197,648
- Receivables within one year +€11,039
up €11,039 (+145.0%), from €7,613 to €18,652
of which Trade receivables: +€17,680
- Stocks and contracts +€8,722
up €8,722 (+163.9%), from €5,321 to €14,043
- Other debts +€96,372
up €96,372 (+116.1%), from €83,036 to €179,408
- Trade debts +€73,701
up €73,701 (+1605.0%), from €4,592 to €78,293
- Debts after one year +€57,049
new in 2025: €57,049
- Current portion of long-term debt +€21,568
up €21,568, from €0 to €21,568
- Advances received +€11,688
new in 2025: €11,688
- Gross operating margin +€83,185
up €83,185 (+198.0%), from €42,004 to €125,189
- Staff costs +€52,698
up €52,698 (+123.9%), from €42,520 to €95,218
- Depreciation +€21,460
up €21,460 (+1056.7%), from €2,031 to €23,491
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 | €70,370 | €341,853 | +€271,483 | +385.8% |
| Fixed assets | 21/28 | €51,348 | €305,435 | +€254,087 | +494.8% |
| Tangible fixed assets | 22/27 | €48,858 | €300,177 | +€251,320 | +514.4% |
| Plant, machinery and equipment | 23 | - | €18,976 | +€18,976 | |
| Furniture and vehicles | 24 | - | €15,954 | +€15,954 | |
| Leasing and similar rights | 25 | - | €18,741 | +€18,741 | |
| Other tangible fixed assets | 26 | €48,858 | €246,506 | +€197,648 | +404.5% |
| Financial fixed assets | 28 | €2,490 | €5,257 | +€2,767 | +111.1% |
| Current assets | 29/58 | €19,022 | €36,418 | +€17,396 | +91.5% |
| Stocks and contracts in progress | 3 | €5,321 | €14,043 | +€8,722 | +163.9% |
| Stocks | 30/36 | €5,321 | €14,043 | +€8,722 | +163.9% |
| Amounts receivable within one year | 40/41 | €7,613 | €18,652 | +€11,039 | +145.0% |
| Trade receivables | 40 | €524 | €18,204 | +€17,680 | +3376.4% |
| Other amounts receivable | 41 | €7,090 | €448 | -€6,641 | -93.7% |
| Cash at bank and in hand | 54/58 | €4,437 | €3,096 | -€1,341 | -30.2% |
| Deferred charges and accrued income | 490/1 | €1,651 | €627 | -€1,024 | -62.0% |
| Total equity and liabilities | 10/49 | €70,370 | €341,853 | +€271,483 | +385.8% |
| Equity | 10/15 | -€34,374 | -€30,110 | +€4,264 | +12.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,574 | -€36,310 | +€4,264 | +10.5% |
| Amounts payable | 17/49 | €104,744 | €371,963 | +€267,219 | +255.1% |
| Amounts payable after more than one year | 17 | - | €57,049 | +€57,049 | |
| Financial debts | 170/4 | - | €57,049 | +€57,049 | |
| Amounts payable within one year | 42/48 | €101,744 | €314,915 | +€213,171 | +209.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | €21,568 | +€21,568 | |
| Trade debts | 44 | €4,592 | €78,293 | +€73,701 | +1605.0% |
| Suppliers | 440/4 | €4,592 | €78,293 | +€73,701 | +1605.0% |
| Advances received on contracts in progress | 46 | - | €11,688 | +€11,688 | |
| Taxes, remuneration and social security | 45 | €14,116 | €23,959 | +€9,842 | +69.7% |
| Taxes | 450/3 | €288 | €385 | +€97 | +33.8% |
| Remuneration and social security | 454/9 | €13,829 | €23,574 | +€9,745 | +70.5% |
| Other amounts payable | 47/48 | €83,036 | €179,408 | +€96,372 | +116.1% |
| Accrued charges and deferred income | 492/3 | €3,000 | €0 | -€3,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €42,520 | €95,218 | +€52,698 | +123.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,031 | €23,491 | +€21,460 | +1056.7% |
| Other operating charges | 640/8 | €1,795 | €2,339 | +€544 | +30.3% |
| Gross operating margin | 9900 | €42,004 | €125,189 | +€83,185 | +198.0% |
| Operating profit (loss) | 9901 | -€4,342 | €4,141 | +€8,483 | |
| Financial income | 75/76B | €84 | €1,148 | +€1,065 | +1274.8% |
| Recurring financial income | 75 | €84 | €1,148 | +€1,065 | +1274.8% |
| Financial charges | 65/66B | €70 | €885 | +€815 | +1171.0% |
| Recurring financial charges | 65 | €70 | €885 | +€815 | +1171.0% |
| Profit (loss) for the period before taxes | 9903 | -€4,328 | €4,405 | +€8,733 | |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€4,468 | €4,264 | +€8,732 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,468 | €4,264 | +€8,732 |
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 9 October 2026 via checked.be.