REDS IMMO: 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.
REDS IMMO
Largest movements
- Receivables within one year +€374,846
up €374,846 (+45.7%), from €819,680 to €1.2m
of which Trade receivables: +€287,450
- Cash -€157,183
down €157,183 (-66.5%), from €236,393 to €79,209
mainly Receivables within one year (-€374,846) and Contributions, distributions and other (-€250,000)
- Tangible fixed assets -€49,440
down €49,440 (-20.4%), from €242,086 to €192,646
of which Land and buildings: -€27,969
- Intangible fixed assets -€27,391
down €27,391 (-14.4%), from €190,855 to €163,463
- Trade debts +€193,020
up €193,020 (+151.8%), from €127,170 to €320,189
- Reserves +€185,195
up €185,195 (+36.4%), from €508,964 to €694,159
of which Distributable reserves: +€185,195
- Debts after one year -€117,970
down €117,970 (-27.2%), from €433,401 to €315,431
- Other debts -€110,512
down €110,512 (-30.3%), from €364,536 to €254,024
- Staff costs +€42,310
up €42,310 (+17.6%), from €240,367 to €282,677
- Gross operating margin -€37,251
down €37,251 (-3.9%), from €949,936 to €912,685
- Taxes +€9,526
up €9,526 (+10.8%), from €88,615 to €98,141
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 | €1,704,633 | €1,847,572 | +€142,938 | +8.4% |
| Fixed assets | 21/28 | €645,450 | €566,159 | -€79,291 | -12.3% |
| Intangible fixed assets | 21 | €190,855 | €163,463 | -€27,391 | -14.4% |
| Tangible fixed assets | 22/27 | €242,086 | €192,646 | -€49,440 | -20.4% |
| Land and buildings | 22 | €187,731 | €159,762 | -€27,969 | -14.9% |
| Plant, machinery and equipment | 23 | €17,743 | €11,598 | -€6,145 | -34.6% |
| Furniture and vehicles | 24 | €36,612 | €21,286 | -€15,326 | -41.9% |
| Financial fixed assets | 28 | €212,510 | €210,050 | -€2,460 | -1.2% |
| Current assets | 29/58 | €1,059,183 | €1,281,413 | +€222,229 | +21.0% |
| Stocks and contracts in progress | 3 | €2,500 | €2,500 | = | 0.0% |
| Stocks | 30/36 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €819,680 | €1,194,527 | +€374,846 | +45.7% |
| Trade receivables | 40 | €723,323 | €1,010,772 | +€287,450 | +39.7% |
| Other amounts receivable | 41 | €96,358 | €183,755 | +€87,397 | +90.7% |
| Cash at bank and in hand | 54/58 | €236,393 | €79,209 | -€157,183 | -66.5% |
| Deferred charges and accrued income | 490/1 | €610 | €5,176 | +€4,566 | +748.6% |
| Total equity and liabilities | 10/49 | €1,704,633 | €1,847,572 | +€142,938 | +8.4% |
| Equity | 10/15 | €517,019 | €702,214 | +€185,195 | +35.8% |
| Contributions | 10/11 | €8,055 | €8,055 | = | 0.0% |
| Reserves | 13 | €508,964 | €694,159 | +€185,195 | +36.4% |
| Tax-exempt reserves | 132 | €33,750 | €33,750 | = | 0.0% |
| Distributable reserves | 133 | €475,214 | €660,409 | +€185,195 | +39.0% |
| Amounts payable | 17/49 | €1,187,614 | €1,145,358 | -€42,256 | -3.6% |
| Amounts payable after more than one year | 17 | €433,401 | €315,431 | -€117,970 | -27.2% |
| Financial debts | 170/4 | €433,401 | €315,431 | -€117,970 | -27.2% |
| Amounts payable within one year | 42/48 | €754,213 | €829,927 | +€75,714 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €101,965 | €103,024 | +€1,058 | +1.0% |
| Trade debts | 44 | €127,170 | €320,189 | +€193,020 | +151.8% |
| Suppliers | 440/4 | €127,170 | €320,189 | +€193,020 | +151.8% |
| Advances received on contracts in progress | 46 | €11,082 | - | -€11,082 | |
| Taxes, remuneration and social security | 45 | €149,460 | €152,690 | +€3,231 | +2.2% |
| Taxes | 450/3 | €124,586 | €120,727 | -€3,860 | -3.1% |
| Remuneration and social security | 454/9 | €24,873 | €31,964 | +€7,091 | +28.5% |
| Other amounts payable | 47/48 | €364,536 | €254,024 | -€110,512 | -30.3% |
| Remuneration, social security and pensions | 62 | €240,367 | €282,677 | +€42,310 | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,485 | €78,104 | -€2,382 | -3.0% |
| Other operating charges | 640/8 | €14,554 | €13,599 | -€955 | -6.6% |
| Gross operating margin | 9900 | €949,936 | €912,685 | -€37,251 | -3.9% |
| Operating profit (loss) | 9901 | €614,529 | €538,305 | -€76,223 | -12.4% |
| Financial income | 75/76B | €1,607 | €2,215 | +€608 | +37.8% |
| Recurring financial income | 75 | €1,607 | €2,215 | +€608 | +37.8% |
| Financial charges | 65/66B | €7,567 | €7,184 | -€382 | -5.1% |
| Recurring financial charges | 65 | €7,567 | €7,184 | -€382 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €608,569 | €533,336 | -€75,233 | -12.4% |
| Income taxes | 67/77 | €88,615 | €98,141 | +€9,526 | +10.8% |
| Profit (loss) for the period | 9904 | €519,954 | €435,195 | -€84,760 | -16.3% |
| Profit (loss) for the period to be appropriated | 9905 | €519,954 | €435,195 | -€84,760 | -16.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.