REDUCT: 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.
REDUCT
Largest movements
- Cash +€435,165
up €435,165 (+37.6%), from €1.2m to €1.6m
mainly Net result for the year (+€539,050) and Depreciation (+€171,483)
- Receivables within one year +€227,998
up €227,998 (+75.6%), from €301,591 to €529,589
of which Trade receivables: +€273,494
- Financial fixed assets +€103,109
up €103,109 (+33.7%), from €306,232 to €409,341
- Intangible fixed assets -€88,197
down €88,197 (-22.6%), from €390,991 to €302,794
- Stocks and contracts -€67,394
down €67,394 (-8.9%), from €758,894 to €691,500
- Profit (loss) carried forward +€539,050
up €539,050 (+27.0%), from €2.0m to €2.5m
- Trade debts +€47,991
up €47,991 (+59.8%), from €80,196 to €128,187
- Gross operating margin +€577,030
up €577,030 (+84.1%), from €686,484 to €1.3m
- Other operating charges +€27,962
up €27,962 (+2670.2%), from €1,047 to €29,009
- Financial income -€18,660
down €18,660 (-53.6%), from €34,782 to €16,122
- Financial charges -€15,911
down €15,911 (-80.3%), from €19,816 to €3,905
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 | €3,085,282 | €3,668,989 | +€583,707 | +18.9% |
| Fixed assets | 21/28 | €843,933 | €831,347 | -€12,586 | -1.5% |
| Intangible fixed assets | 21 | €390,991 | €302,794 | -€88,197 | -22.6% |
| Tangible fixed assets | 22/27 | €146,710 | €119,212 | -€27,498 | -18.7% |
| Plant, machinery and equipment | 23 | €15,720 | €27,711 | +€11,991 | +76.3% |
| Furniture and vehicles | 24 | €104,390 | €76,319 | -€28,071 | -26.9% |
| Other tangible fixed assets | 26 | €26,600 | €15,183 | -€11,418 | -42.9% |
| Financial fixed assets | 28 | €306,232 | €409,341 | +€103,109 | +33.7% |
| Current assets | 29/58 | €2,241,349 | €2,837,642 | +€596,293 | +26.6% |
| Stocks and contracts in progress | 3 | €758,894 | €691,500 | -€67,394 | -8.9% |
| Stocks | 30/36 | €758,894 | €691,500 | -€67,394 | -8.9% |
| Amounts receivable within one year | 40/41 | €301,591 | €529,589 | +€227,998 | +75.6% |
| Trade receivables | 40 | €156,256 | €429,750 | +€273,494 | +175.0% |
| Other amounts receivable | 41 | €145,335 | €99,839 | -€45,496 | -31.3% |
| Cash at bank and in hand | 54/58 | €1,156,798 | €1,591,963 | +€435,165 | +37.6% |
| Deferred charges and accrued income | 490/1 | €24,066 | €24,589 | +€524 | +2.2% |
| Total equity and liabilities | 10/49 | €3,085,282 | €3,668,989 | +€583,707 | +18.9% |
| Equity | 10/15 | €2,579,281 | €3,118,331 | +€539,050 | +20.9% |
| Contributions | 10/11 | €526,821 | €526,821 | = | 0.0% |
| Capital | 10 | €526,821 | €526,821 | = | 0.0% |
| Issued capital | 100 | €526,821 | €526,821 | = | 0.0% |
| Reserves | 13 | €52,682 | €52,682 | = | 0.0% |
| Non-distributable reserves | 130/1 | €52,682 | €52,682 | = | 0.0% |
| Legal reserve | 130 | €52,682 | €52,682 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,999,778 | €2,538,828 | +€539,050 | +27.0% |
| Amounts payable | 17/49 | €506,001 | €550,658 | +€44,656 | +8.8% |
| Amounts payable after more than one year | 17 | €362,611 | €340,387 | -€22,225 | -6.1% |
| Other amounts payable | 178/9 | €362,611 | €340,387 | -€22,225 | -6.1% |
| Amounts payable within one year | 42/48 | €143,390 | €210,271 | +€66,881 | +46.6% |
| Trade debts | 44 | €80,196 | €128,187 | +€47,991 | +59.8% |
| Suppliers | 440/4 | €80,196 | €128,187 | +€47,991 | +59.8% |
| Taxes, remuneration and social security | 45 | €63,194 | €82,084 | +€18,890 | +29.9% |
| Taxes | 450/3 | - | €19,105 | +€19,105 | |
| Remuneration and social security | 454/9 | €63,194 | €62,979 | -€214 | -0.3% |
| Remuneration, social security and pensions | 62 | €535,821 | €532,134 | -€3,687 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €163,161 | €171,483 | +€8,322 | +5.1% |
| Other operating charges | 640/8 | €1,047 | €29,009 | +€27,962 | +2670.2% |
| Gross operating margin | 9900 | €686,484 | €1,263,514 | +€577,030 | +84.1% |
| Operating profit (loss) | 9901 | -€13,545 | €530,888 | +€544,433 | |
| Financial income | 75/76B | €34,782 | €16,122 | -€18,660 | -53.6% |
| Recurring financial income | 75 | €34,782 | €16,122 | -€18,660 | -53.6% |
| Financial charges | 65/66B | €19,816 | €3,905 | -€15,911 | -80.3% |
| Recurring financial charges | 65 | €19,816 | €3,905 | -€15,911 | -80.3% |
| Profit (loss) for the period before taxes | 9903 | €1,421 | €543,106 | +€541,684 | +38113.5% |
| Income taxes | 67/77 | €400 | €4,055 | +€3,655 | +913.8% |
| Profit (loss) for the period | 9904 | €1,021 | €539,050 | +€538,029 | +52683.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,021 | €539,050 | +€538,029 | +52683.9% |
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 6 October 2026 via checked.be.