ReENo: 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.
ReENo
Largest movements
- Stocks and contracts +€57,323
new in 2025: €57,323
- Receivables within one year -€46,512
down €46,512 (-58.5%), from €79,486 to €32,974
of which Trade receivables: -€44,905
- Cash +€17,383
up €17,383 (+62.5%), from €27,798 to €45,181
mainly Receivables within one year (+€46,512) and Net result for the year (+€26,537)
- Tangible fixed assets -€2,097
down €2,097 (-45.0%), from €4,654 to €2,558
of which Plant, machinery and equipment: -€1,463
- Intangible fixed assets -€1,600
down €1,600 (-33.4%), from €4,796 to €3,196
- Reserves +€26,537
up €26,537 (+36.2%), from €73,212 to €99,749
- Trade debts -€4,157
down €4,157 (-12.7%), from €32,826 to €28,670
- Tax, wage and social debts +€2,013
up €2,013 (+52.4%), from €3,842 to €5,854
- Gross operating margin +€10,830
up €10,830 (+40.1%), from €26,983 to €37,813
- Taxes +€2,347
up €2,347 (+48.2%), from €4,870 to €7,217
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 | €116,734 | €141,267 | +€24,532 | +21.0% |
| Fixed assets | 21/28 | €9,450 | €5,753 | -€3,697 | -39.1% |
| Intangible fixed assets | 21 | €4,796 | €3,196 | -€1,600 | -33.4% |
| Tangible fixed assets | 22/27 | €4,654 | €2,558 | -€2,097 | -45.0% |
| Plant, machinery and equipment | 23 | €3,603 | €2,140 | -€1,463 | -40.6% |
| Furniture and vehicles | 24 | €1,052 | €418 | -€633 | -60.2% |
| Current assets | 29/58 | €107,284 | €135,513 | +€28,229 | +26.3% |
| Stocks and contracts in progress | 3 | - | €57,323 | +€57,323 | |
| Stocks | 30/36 | - | €57,323 | +€57,323 | |
| Amounts receivable within one year | 40/41 | €79,486 | €32,974 | -€46,512 | -58.5% |
| Trade receivables | 40 | €69,001 | €24,096 | -€44,905 | -65.1% |
| Other amounts receivable | 41 | €10,485 | €8,878 | -€1,607 | -15.3% |
| Cash at bank and in hand | 54/58 | €27,798 | €45,181 | +€17,383 | +62.5% |
| Deferred charges and accrued income | 490/1 | - | €36 | +€36 | |
| Total equity and liabilities | 10/49 | €116,734 | €141,267 | +€24,532 | +21.0% |
| Equity | 10/15 | €79,212 | €105,749 | +€26,537 | +33.5% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €73,212 | €99,749 | +€26,537 | +36.2% |
| Distributable reserves | 133 | €73,212 | €99,749 | +€26,537 | +36.2% |
| Amounts payable | 17/49 | €37,522 | €35,518 | -€2,005 | -5.3% |
| Amounts payable within one year | 42/48 | €37,522 | €35,518 | -€2,005 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €854 | €843 | -€12 | -1.4% |
| Trade debts | 44 | €32,826 | €28,670 | -€4,157 | -12.7% |
| Suppliers | 440/4 | €32,826 | €28,670 | -€4,157 | -12.7% |
| Taxes, remuneration and social security | 45 | €3,842 | €5,854 | +€2,013 | +52.4% |
| Taxes | 450/3 | €3,842 | €5,854 | +€2,013 | +52.4% |
| Other amounts payable | 47/48 | - | €151 | +€151 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,698 | €3,697 | -€1 | 0.0% |
| Other operating charges | 640/8 | €321 | €393 | +€72 | +22.5% |
| Gross operating margin | 9900 | €26,983 | €37,813 | +€10,830 | +40.1% |
| Operating profit (loss) | 9901 | €22,964 | €33,723 | +€10,759 | +46.9% |
| Financial income | 75/76B | €529 | €302 | -€227 | -42.9% |
| Recurring financial income | 75 | €529 | €302 | -€227 | -42.9% |
| Financial charges | 65/66B | €474 | €271 | -€203 | -42.8% |
| Recurring financial charges | 65 | €474 | €271 | -€203 | -42.8% |
| Profit (loss) for the period before taxes | 9903 | €23,019 | €33,754 | +€10,735 | +46.6% |
| Income taxes | 67/77 | €4,870 | €7,217 | +€2,347 | +48.2% |
| Profit (loss) for the period | 9904 | €18,149 | €26,537 | +€8,388 | +46.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,149 | €26,537 | +€8,388 | +46.2% |
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 10 October 2026 via checked.be.