REDUCAMI: 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.
REDUCAMI
Largest movements
- Tangible fixed assets +€179,945
up €179,945 (+3661.9%), from €4,914 to €184,859
of which Land and buildings: +€171,688
- Cash +€33,406
up €33,406 (+62.3%), from €53,614 to €87,020
mainly Debts after one year (+€146,280) and Net result for the year (+€42,439)
- Deferred charges and accrued income +€3,580
up €3,580 (+2526.2%), from €142 to €3,722
- Debts after one year +€146,280
new in 2025: €146,280
- Profit (loss) carried forward +€41,606
up €41,606 (+103.9%), from €40,036 to €81,642
- Tax, wage and social debts +€12,371
up €12,371 (+98.2%), from €12,592 to €24,962
of which Taxes: +€11,440
- Current portion of long-term debt +€5,248
new in 2025: €5,248
- Trade debts +€4,990
new in 2025: €4,990
- Gross operating margin +€23,300
up €23,300 (+43.5%), from €53,572 to €76,872
- Depreciation +€10,374
up €10,374 (+675.4%), from €1,536 to €11,909
- Staff costs +€6,635
new in 2025: €6,635
- Financial charges +€3,906
up €3,906 (+2395.5%), from €163 to €4,069
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 | €59,023 | €275,601 | +€216,578 | +366.9% |
| Formation expenses | 20 | €165 | - | -€165 | |
| Fixed assets | 21/28 | €4,914 | €184,859 | +€179,945 | +3661.9% |
| Tangible fixed assets | 22/27 | €4,914 | €184,859 | +€179,945 | +3661.9% |
| Land and buildings | 22 | - | €171,688 | +€171,688 | |
| Plant, machinery and equipment | 23 | €1,164 | €10,230 | +€9,066 | +778.8% |
| Furniture and vehicles | 24 | €3,750 | €2,941 | -€809 | -21.6% |
| Current assets | 29/58 | €53,944 | €90,741 | +€36,797 | +68.2% |
| Amounts receivable within one year | 40/41 | €188 | - | -€188 | |
| Other amounts receivable | 41 | €188 | - | -€188 | |
| Cash at bank and in hand | 54/58 | €53,614 | €87,020 | +€33,406 | +62.3% |
| Deferred charges and accrued income | 490/1 | €142 | €3,722 | +€3,580 | +2526.2% |
| Total equity and liabilities | 10/49 | €59,023 | €275,601 | +€216,578 | +366.9% |
| Equity | 10/15 | €45,036 | €86,642 | +€41,606 | +92.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,036 | €81,642 | +€41,606 | +103.9% |
| Amounts payable | 17/49 | €13,987 | €188,959 | +€174,972 | +1251.0% |
| Amounts payable after more than one year | 17 | - | €146,280 | +€146,280 | |
| Financial debts | 170/4 | - | €146,280 | +€146,280 | |
| Amounts payable within one year | 42/48 | €13,487 | €39,983 | +€26,496 | +196.5% |
| Current portion of amounts payable after more than one year | 42 | - | €5,248 | +€5,248 | |
| Trade debts | 44 | - | €4,990 | +€4,990 | |
| Suppliers | 440/4 | - | €4,990 | +€4,990 | |
| Taxes, remuneration and social security | 45 | €12,592 | €24,962 | +€12,371 | +98.2% |
| Taxes | 450/3 | €11,317 | €22,756 | +€11,440 | +101.1% |
| Remuneration and social security | 454/9 | €1,275 | €2,206 | +€931 | +73.0% |
| Other amounts payable | 47/48 | €895 | €4,782 | +€3,887 | +434.3% |
| Accrued charges and deferred income | 492/3 | €500 | €2,696 | +€2,196 | +439.3% |
| Remuneration, social security and pensions | 62 | - | €6,635 | +€6,635 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,536 | €11,909 | +€10,374 | +675.4% |
| Other operating charges | 640/8 | - | €420 | +€420 | |
| Gross operating margin | 9900 | €53,572 | €76,872 | +€23,300 | +43.5% |
| Operating profit (loss) | 9901 | €52,036 | €57,907 | +€5,872 | +11.3% |
| Financial income | 75/76B | €0 | €40 | +€40 | +197500.0% |
| Recurring financial income | 75 | €0 | €40 | +€40 | +197500.0% |
| Financial charges | 65/66B | €163 | €4,069 | +€3,906 | +2395.5% |
| Recurring financial charges | 65 | €163 | €4,069 | +€3,906 | +2395.5% |
| Profit (loss) for the period before taxes | 9903 | €51,873 | €53,878 | +€2,005 | +3.9% |
| Income taxes | 67/77 | €10,942 | €11,440 | +€498 | +4.6% |
| Profit (loss) for the period | 9904 | €40,931 | €42,439 | +€1,507 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €40,931 | €42,439 | +€1,507 | +3.7% |
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 29 September 2026 via checked.be.