REEFLECT: what changed
Two financial 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.
REEFLECT
Largest movements
- Cash +€34,834
up €34,834 (+39.2%), from €88,944 to €123,778
mainly Net result for the year (+€61,558) and Depreciation (+€497)
- Reserves +€61,550
up €61,550 (+107%), from €57,400 to €118,950
- Tax, wage and social debts -€26,859
down €26,859 (-85.5%), from €31,412 to €4,553
- Gross operating margin +€5,969
up €5,969 (+7.5%), from €79,801 to €85,770
- Taxes +€1,761
up €1,761 (+8.1%), from €21,793 to €23,553
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.
Derived cash bridge
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 | €90,455 | €124,376 | +€33,921 | +37.5% |
| Formation expenses | 20 | €497 | - | -€497 | |
| Current assets | 29/58 | €89,958 | €124,376 | +€34,418 | +38.3% |
| Amounts receivable within one year | 40/41 | €1,014 | €598 | -€417 | -41.1% |
| Other amounts receivable | 41 | €1,014 | €598 | -€417 | -41.1% |
| Cash at bank and in hand | 54/58 | €88,944 | €123,778 | +€34,834 | +39.2% |
| Total equity and liabilities | 10/49 | €90,455 | €124,376 | +€33,921 | +37.5% |
| Equity | 10/15 | €57,915 | €119,473 | +€61,558 | +106% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €57,400 | €118,950 | +€61,550 | +107% |
| Distributable reserves | 133 | €57,400 | €118,950 | +€61,550 | +107% |
| Profit (loss) carried forward | 14 | €15 | €23 | +€8 | +53.0% |
| Amounts payable | 17/49 | €32,541 | €4,903 | -€27,637 | -84.9% |
| Amounts payable within one year | 42/48 | €32,541 | €4,903 | -€27,637 | -84.9% |
| Trade debts | 44 | €1,128 | - | -€1,128 | |
| Suppliers | 440/4 | €1,128 | - | -€1,128 | |
| Taxes, remuneration and social security | 45 | €31,412 | €4,553 | -€26,859 | -85.5% |
| Taxes | 450/3 | €31,412 | €4,553 | -€26,859 | -85.5% |
| Other amounts payable | 47/48 | - | €350 | +€350 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €573 | €497 | -€76 | -13.3% |
| Other operating charges | 640/8 | - | €120 | +€120 | |
| Gross operating margin | 9900 | €79,801 | €85,770 | +€5,969 | +7.5% |
| Operating profit (loss) | 9901 | €79,228 | €85,153 | +€5,925 | +7.5% |
| Financial charges | 65/66B | €20 | €41 | +€21 | +105% |
| Recurring financial charges | 65 | €20 | €41 | +€21 | +105% |
| Profit (loss) for the period before taxes | 9903 | €79,207 | €85,111 | +€5,904 | +7.5% |
| Income taxes | 67/77 | €21,793 | €23,553 | +€1,761 | +8.1% |
| Profit (loss) for the period | 9904 | €57,415 | €61,558 | +€4,143 | +7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €57,415 | €61,558 | +€4,143 | +7.2% |
Source: filed annual accounts (NBB), financial 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 October 2026 via checked.be.