REEF CONSULT: 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.
REEF CONSULT
Largest movements
- Tangible fixed assets +€36,694
up €36,694 (+62.8%), from €58,436 to €95,129
of which Other tangible fixed assets: +€37,799
- Deferred charges and accrued income +€19,407
up €19,407 (+724.7%), from €2,678 to €22,085
- Receivables within one year -€12,248
down €12,248 (-29.3%), from €41,818 to €29,569
of which Other amounts receivable: -€9,715
- Profit (loss) carried forward +€40,907
new in 2025: €40,907
- Reserves +€10,525
up €10,525 (+33.3%), from €31,575 to €42,100
- Other debts -€4,330
down €4,330 (-2.9%), from €149,374 to €145,044
- Trade debts -€3,786
down €3,786 (-80.4%), from €4,711 to €924
- Gross operating margin +€24,164
up €24,164 (+32.7%), from €73,932 to €98,096
- Financial charges +€9,807
up €9,807 (+53.7%), from €18,272 to €28,079
- Depreciation +€3,909
up €3,909 (+48.6%), from €8,037 to €11,946
- Taxes -€3,587
down €3,587 (-26.3%), from €13,627 to €10,040
- Financial income +€1,028
up €1,028 (+36.6%), from €2,805 to €3,833
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 | €215,364 | €260,050 | +€44,686 | +20.7% |
| Fixed assets | 21/28 | €58,436 | €95,129 | +€36,694 | +62.8% |
| Tangible fixed assets | 22/27 | €58,436 | €95,129 | +€36,694 | +62.8% |
| Furniture and vehicles | 24 | €4,188 | €3,082 | -€1,105 | -26.4% |
| Other tangible fixed assets | 26 | €54,248 | €92,047 | +€37,799 | +69.7% |
| Current assets | 29/58 | €156,928 | €164,921 | +€7,993 | +5.1% |
| Amounts receivable within one year | 40/41 | €41,818 | €29,569 | -€12,248 | -29.3% |
| Trade receivables | 40 | €21,818 | €19,284 | -€2,533 | -11.6% |
| Other amounts receivable | 41 | €20,000 | €10,285 | -€9,715 | -48.6% |
| Current investments | 50/53 | €102,000 | €102,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,433 | €11,267 | +€834 | +8.0% |
| Deferred charges and accrued income | 490/1 | €2,678 | €22,085 | +€19,407 | +724.7% |
| Total equity and liabilities | 10/49 | €215,364 | €260,050 | +€44,686 | +20.7% |
| Equity | 10/15 | €52,035 | €103,467 | +€51,432 | +98.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €31,575 | €42,100 | +€10,525 | +33.3% |
| Tax-exempt reserves | 132 | €31,575 | €42,100 | +€10,525 | +33.3% |
| Profit (loss) carried forward | 14 | - | €40,907 | +€40,907 | |
| Amounts payable | 17/49 | €163,329 | €156,583 | -€6,745 | -4.1% |
| Amounts payable within one year | 42/48 | €163,329 | €156,583 | -€6,745 | -4.1% |
| Trade debts | 44 | €4,711 | €924 | -€3,786 | -80.4% |
| Suppliers | 440/4 | €4,711 | €924 | -€3,786 | -80.4% |
| Taxes, remuneration and social security | 45 | €9,244 | €10,615 | +€1,371 | +14.8% |
| Taxes | 450/3 | €9,244 | €10,615 | +€1,371 | +14.8% |
| Other amounts payable | 47/48 | €149,374 | €145,044 | -€4,330 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,037 | €11,946 | +€3,909 | +48.6% |
| Other operating charges | 640/8 | €1,346 | €433 | -€912 | -67.8% |
| Gross operating margin | 9900 | €73,932 | €98,096 | +€24,164 | +32.7% |
| Operating profit (loss) | 9901 | €64,549 | €85,717 | +€21,168 | +32.8% |
| Financial income | 75/76B | €2,805 | €3,833 | +€1,028 | +36.6% |
| Recurring financial income | 75 | €2,805 | €3,833 | +€1,028 | +36.6% |
| Financial charges | 65/66B | €18,272 | €28,079 | +€9,807 | +53.7% |
| Recurring financial charges | 65 | €18,272 | €28,079 | +€9,807 | +53.7% |
| Profit (loss) for the period before taxes | 9903 | €49,082 | €61,471 | +€12,389 | +25.2% |
| Income taxes | 67/77 | €13,627 | €10,040 | -€3,587 | -26.3% |
| Profit (loss) for the period | 9904 | €35,455 | €51,432 | +€15,976 | +45.1% |
| Transfer to tax-exempt reserves | 689 | - | €10,525 | +€10,525 | |
| Profit (loss) for the period to be appropriated | 9905 | €35,455 | €40,907 | +€5,451 | +15.4% |
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 3 October 2026 via checked.be.