REGAM: 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.
What changed
REGAM
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€17,197
2024 · €37,090-€19,893
Equity
€419,807
2024 · €408,914+€10,893
Cash
€35,527
2024 · €31,084+€4,443
Balance sheet total
€1.9m
2024 · €1.9m-€61,226
Largest movements
Assets
- Tangible fixed assets -€68,604
down €68,604 (-3.7%), from €1.8m to €1.8m
of which Land and buildings: -€64,243
Equity and liabilities
- Other debts -€67,590
down €67,590 (-5.9%), from €1.1m to €1.1m
- Debts after one year -€21,826
down €21,826 (-6.5%), from €335,029 to €313,203
of which Financial debts: -€21,323
Income statement
- Financial charges +€54,810
up €54,810 (+179.2%), from €30,593 to €85,403
- Gross operating margin +€46,538
up €46,538 (+25.6%), from €181,881 to €228,419
- Taxes +€7,959
up €7,959 (+43.3%), from €18,366 to €26,325
- Other operating charges +€5,139
up €5,139 (+24.1%), from €21,317 to €26,456
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.
Result 2024
€37,090
Gross operating margin
+€46,538
Depreciation
+€1,406
Other operating charges
-€5,139
Financial income
+€70
Financial charges
-€54,810
Taxes
-€7,959
Result 2025
€17,197
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.
From operations
+€44,178
Investment
-€10,870
Financing
-€28,866
Cash 2024
€31,084
From operations (derived)
+€44,178
Net result for the year
+€17,197
Depreciation
+€79,474
Receivables within one year
-€2,945
Smaller working-capital items
+€19
Trade debts
+€1,698
Tax, wage and social debts
+€16,326
Other debts
-€67,590
Investment (derived)
-€10,870
Investment in fixed assets (net)
-€10,870
Financing
-€28,866
Debts after one year
-€21,826
Current portion of long-term debt
-€736
Contributions, distributions and other
-€6,304
Cash 2025
€35,527
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,918,289 | €1,857,063 | -€61,226 | -3.2% |
| Fixed assets | 21/28 | €1,883,968 | €1,815,364 | -€68,604 | -3.6% |
| Tangible fixed assets | 22/27 | €1,849,613 | €1,781,008 | -€68,604 | -3.7% |
| Land and buildings | 22 | €1,666,494 | €1,602,251 | -€64,243 | -3.9% |
| Plant, machinery and equipment | 23 | €34,723 | €21,071 | -€13,652 | -39.3% |
| Furniture and vehicles | 24 | €3,120 | €3,489 | +€370 | +11.8% |
| Other tangible fixed assets | 26 | €145,276 | €154,197 | +€8,921 | +6.1% |
| Financial fixed assets | 28 | €34,356 | €34,356 | = | 0.0% |
| Current assets | 29/58 | €34,321 | €41,699 | +€7,378 | +21.5% |
| Amounts receivable within one year | 40/41 | €770 | €3,715 | +€2,945 | +382.7% |
| Trade receivables | 40 | €770 | €0 | -€770 | -100.0% |
| Other amounts receivable | 41 | €0 | €3,715 | +€3,715 | |
| Cash at bank and in hand | 54/58 | €31,084 | €35,527 | +€4,443 | +14.3% |
| Deferred charges and accrued income | 490/1 | €2,467 | €2,457 | -€10 | -0.4% |
| Total equity and liabilities | 10/49 | €1,918,289 | €1,857,063 | -€61,226 | -3.2% |
| Equity | 10/15 | €408,914 | €419,807 | +€10,893 | +2.7% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €259,415 | €270,111 | +€10,696 | +4.1% |
| Tax-exempt reserves | 132 | €44,819 | €38,515 | -€6,304 | -14.1% |
| Distributable reserves | 133 | €214,596 | €231,596 | +€17,000 | +7.9% |
| Profit (loss) carried forward | 14 | -€50,502 | -€50,305 | +€197 | +0.4% |
| Amounts payable | 17/49 | €1,509,375 | €1,437,256 | -€72,119 | -4.8% |
| Amounts payable after more than one year | 17 | €335,029 | €313,203 | -€21,826 | -6.5% |
| Financial debts | 170/4 | €300,673 | €279,350 | -€21,323 | -7.1% |
| Other amounts payable | 178/9 | €34,356 | €33,852 | -€503 | -1.5% |
| Amounts payable within one year | 42/48 | €1,174,347 | €1,124,053 | -€50,293 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €22,058 | €21,323 | -€736 | -3.3% |
| Trade debts | 44 | €36 | €1,734 | +€1,698 | +4677.2% |
| Suppliers | 440/4 | €36 | €1,734 | +€1,698 | +4677.2% |
| Advances received on contracts in progress | 46 | €7,565 | €7,574 | +€9 | +0.1% |
| Taxes, remuneration and social security | 45 | €6,781 | €23,106 | +€16,326 | +240.8% |
| Taxes | 450/3 | €6,781 | €23,106 | +€16,326 | +240.8% |
| Other amounts payable | 47/48 | €1,137,906 | €1,070,316 | -€67,590 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,880 | €79,474 | -€1,406 | -1.7% |
| Other operating charges | 640/8 | €21,317 | €26,456 | +€5,139 | +24.1% |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | €181,881 | €228,419 | +€46,538 | +25.6% |
| Operating profit (loss) | 9901 | €79,683 | €122,488 | +€42,805 | +53.7% |
| Financial income | 75/76B | €62 | €132 | +€70 | +112.6% |
| Recurring financial income | 75 | €62 | €132 | +€70 | +112.6% |
| Financial charges | 65/66B | €30,593 | €85,403 | +€54,810 | +179.2% |
| Recurring financial charges | 65 | €30,593 | €85,403 | +€54,810 | +179.2% |
| Profit (loss) for the period before taxes | 9903 | €49,152 | €37,218 | -€11,934 | -24.3% |
| Transfer from deferred taxes | 780 | €6,304 | €6,304 | = | 0.0% |
| Income taxes | 67/77 | €18,366 | €26,325 | +€7,959 | +43.3% |
| Profit (loss) for the period | 9904 | €37,090 | €17,197 | -€19,893 | -53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,090 | €17,197 | -€19,893 | -53.6% |
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 3 October 2026 via checked.be.