REDSYSTEM: 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.
REDSYSTEM
Largest movements
- Cash +€161,224
up €161,224 (+1285.3%), from €12,543 to €173,767
mainly Other debts (+€108,828) and Net result for the year (+€31,629)
- Deferred charges and accrued income -€27,662
down €27,662 (-100.0%), from €27,662 to €0
- Reserves +€119,005
new in 2025: €119,005
- Other debts +€108,828
up €108,828 (+59.8%), from €182,138 to €290,966
- Profit (loss) carried forward -€87,376
down €87,376 (-100.0%), from €87,376 to €0
- Trade debts -€9,276
down €9,276 (-11.8%), from €78,676 to €69,400
- Gross operating margin +€170,816
up €170,816 (+45.5%), from €375,173 to €545,990
- Staff costs +€74,017
up €74,017 (+19.2%), from €384,958 to €458,975
- Financial charges +€20,971
up €20,971 (+259.4%), from €8,084 to €29,055
- Taxes +€11,247
up €11,247 (+449.6%), from €2,501 to €13,748
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 | €460,906 | €594,423 | +€133,517 | +29.0% |
| Fixed assets | 21/28 | €26,235 | €20,857 | -€5,377 | -20.5% |
| Intangible fixed assets | 21 | €3,465 | €2,709 | -€756 | -21.8% |
| Tangible fixed assets | 22/27 | €21,329 | €16,708 | -€4,621 | -21.7% |
| Furniture and vehicles | 24 | €21,329 | €16,708 | -€4,621 | -21.7% |
| Financial fixed assets | 28 | €1,440 | €1,440 | = | 0.0% |
| Current assets | 29/58 | €434,672 | €573,566 | +€138,894 | +32.0% |
| Amounts receivable within one year | 40/41 | €394,467 | €399,799 | +€5,332 | +1.4% |
| Trade receivables | 40 | €247,119 | €264,413 | +€17,294 | +7.0% |
| Other amounts receivable | 41 | €147,348 | €135,386 | -€11,963 | -8.1% |
| Cash at bank and in hand | 54/58 | €12,543 | €173,767 | +€161,224 | +1285.3% |
| Deferred charges and accrued income | 490/1 | €27,662 | €0 | -€27,662 | -100.0% |
| Total equity and liabilities | 10/49 | €460,906 | €594,423 | +€133,517 | +29.0% |
| Equity | 10/15 | €92,376 | €124,005 | +€31,629 | +34.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €119,005 | +€119,005 | |
| Distributable reserves | 133 | - | €119,005 | +€119,005 | |
| Profit (loss) carried forward | 14 | €87,376 | €0 | -€87,376 | -100.0% |
| Amounts payable | 17/49 | €368,530 | €470,418 | +€101,888 | +27.6% |
| Amounts payable within one year | 42/48 | €368,530 | €469,885 | +€101,354 | +27.5% |
| Trade debts | 44 | €78,676 | €69,400 | -€9,276 | -11.8% |
| Suppliers | 440/4 | €78,676 | €69,400 | -€9,276 | -11.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €107,717 | €109,519 | +€1,802 | +1.7% |
| Taxes | 450/3 | €51,120 | €63,958 | +€12,838 | +25.1% |
| Remuneration and social security | 454/9 | €56,597 | €45,561 | -€11,036 | -19.5% |
| Other amounts payable | 47/48 | €182,138 | €290,966 | +€108,828 | +59.8% |
| Accrued charges and deferred income | 492/3 | €0 | €533 | +€533 | |
| Non-recurring operating income | 76A | - | €14,345 | +€14,345 | |
| Remuneration, social security and pensions | 62 | €384,958 | €458,975 | +€74,017 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,544 | €12,144 | +€1,600 | +15.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,425 | €0 | -€1,425 | -100.0% |
| Other operating charges | 640/8 | €3,371 | €1,693 | -€1,678 | -49.8% |
| Gross operating margin | 9900 | €375,173 | €545,990 | +€170,816 | +45.5% |
| Operating profit (loss) | 9901 | -€25,125 | €73,178 | +€98,303 | |
| Financial income | 75/76B | €1,751 | €1,254 | -€497 | -28.4% |
| Recurring financial income | 75 | €1,751 | €1,254 | -€497 | -28.4% |
| Financial charges | 65/66B | €8,084 | €29,055 | +€20,971 | +259.4% |
| Recurring financial charges | 65 | €8,084 | €29,055 | +€20,971 | +259.4% |
| Profit (loss) for the period before taxes | 9903 | -€31,458 | €45,377 | +€76,835 | |
| Income taxes | 67/77 | €2,501 | €13,748 | +€11,247 | +449.6% |
| Profit (loss) for the period | 9904 | -€33,959 | €31,629 | +€65,588 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,959 | €31,629 | +€65,588 |
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 5 October 2026 via checked.be.