REEL CONSTRUCT: 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.
REEL CONSTRUCT
Largest movements
- Receivables within one year +€20,817
up €20,817 (+138.7%), from €15,008 to €35,825
of which Trade receivables: +€17,196
- Cash -€4,620
down €4,620 (-14.4%), from €32,141 to €27,521
mainly Receivables within one year (-€20,817) and Investment in fixed assets (net) (-€2,587)
- Tangible fixed assets +€1,267
up €1,267 (+422.5%), from €300 to €1,567
of which Furniture and vehicles: +€1,456
- Trade debts +€10,952
up €10,952 (+668.2%), from €1,639 to €12,592
- Profit (loss) carried forward +€8,365
up €8,365 (+27.1%), from €30,863 to €39,229
- Tax, wage and social debts -€1,616
down €1,616 (-14.1%), from €11,449 to €9,834
of which Remuneration and social security: -€1,971
- Gross operating margin -€5,628
down €5,628 (-8.3%), from €67,460 to €61,833
- Staff costs +€1,867
up €1,867 (+4.0%), from €46,247 to €48,114
- Depreciation +€949
up €949 (+256.0%), from €371 to €1,320
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €50,152 | €67,854 | +€17,702 | +35.3% |
| Fixed assets | 21/28 | €300 | €1,567 | +€1,267 | +422.5% |
| Tangible fixed assets | 22/27 | €300 | €1,567 | +€1,267 | +422.5% |
| Plant, machinery and equipment | 23 | €300 | €111 | -€189 | -63.0% |
| Furniture and vehicles | 24 | - | €1,456 | +€1,456 | |
| Current assets | 29/58 | €49,852 | €66,287 | +€16,435 | +33.0% |
| Stocks and contracts in progress | 3 | €1,774 | €1,967 | +€194 | +10.9% |
| Stocks | 30/36 | €1,774 | €1,967 | +€194 | +10.9% |
| Amounts receivable within one year | 40/41 | €15,008 | €35,825 | +€20,817 | +138.7% |
| Trade receivables | 40 | €1,857 | €19,052 | +€17,196 | +926.2% |
| Other amounts receivable | 41 | €13,151 | €16,773 | +€3,621 | +27.5% |
| Cash at bank and in hand | 54/58 | €32,141 | €27,521 | -€4,620 | -14.4% |
| Deferred charges and accrued income | 490/1 | €929 | €974 | +€45 | +4.8% |
| Total equity and liabilities | 10/49 | €50,152 | €67,854 | +€17,702 | +35.3% |
| Equity | 10/15 | €37,063 | €45,429 | +€8,365 | +22.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,863 | €39,229 | +€8,365 | +27.1% |
| Amounts payable | 17/49 | €13,088 | €22,425 | +€9,337 | +71.3% |
| Amounts payable within one year | 42/48 | €13,088 | €22,425 | +€9,337 | +71.3% |
| Trade debts | 44 | €1,639 | €12,592 | +€10,952 | +668.2% |
| Suppliers | 440/4 | €1,639 | €12,592 | +€10,952 | +668.2% |
| Taxes, remuneration and social security | 45 | €11,449 | €9,834 | -€1,616 | -14.1% |
| Taxes | 450/3 | €2,898 | €3,253 | +€355 | +12.3% |
| Remuneration and social security | 454/9 | €8,552 | €6,581 | -€1,971 | -23.1% |
| Remuneration, social security and pensions | 62 | €46,247 | €48,114 | +€1,867 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €371 | €1,320 | +€949 | +256.0% |
| Other operating charges | 640/8 | €428 | €773 | +€345 | +80.7% |
| Gross operating margin | 9900 | €67,460 | €61,833 | -€5,628 | -8.3% |
| Operating profit (loss) | 9901 | €20,415 | €11,625 | -€8,789 | -43.1% |
| Financial income | 75/76B | €2 | €119 | +€118 | +7305.6% |
| Recurring financial income | 75 | €2 | €119 | +€118 | +7305.6% |
| Financial charges | 65/66B | €3 | €126 | +€123 | +4078.1% |
| Recurring financial charges | 65 | €3 | €126 | +€123 | +4078.1% |
| Profit (loss) for the period before taxes | 9903 | €20,413 | €11,618 | -€8,795 | -43.1% |
| Income taxes | 67/77 | €2,898 | €3,253 | +€355 | +12.3% |
| Profit (loss) for the period | 9904 | €17,515 | €8,365 | -€9,150 | -52.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,515 | €8,365 | -€9,150 | -52.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.