REGCOM: 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.
REGCOM
Largest movements
- Tangible fixed assets +€320,636
up €320,636 (+112.4%), from €285,274 to €605,910
of which Land and buildings: +€318,203
- Cash -€119,505
down €119,505 (-52.9%), from €226,105 to €106,601
mainly Investment in fixed assets (net) (-€352,686) and Contributions, distributions and other (-€307,325)
- Receivables within one year +€28,082
up €28,082 (+9.0%), from €311,918 to €340,001
of which Other amounts receivable: +€48,941
- Debts after one year +€195,933
up €195,933 (+159.6%), from €122,742 to €318,675
of which Financial debts: +€195,933
- Other debts -€27,789
down €27,789 (-9.4%), from €295,000 to €267,211
- Current portion of long-term debt +€26,114
up €26,114 (+57.1%), from €45,767 to €71,881
- Tax, wage and social debts +€21,250
up €21,250 (+64.2%), from €33,079 to €54,329
- Reserves +€11,646
up €11,646 (+3.2%), from €364,863 to €376,509
of which Distributable reserves: +€11,646
- Gross operating margin +€33,860
up €33,860 (+7.9%), from €430,605 to €464,465
- Depreciation +€11,087
up €11,087 (+52.9%), from €20,963 to €32,050
- Taxes +€6,047
up €6,047 (+6.2%), from €97,430 to €103,477
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 | €894,896 | €1,123,658 | +€228,762 | +25.6% |
| Fixed assets | 21/28 | €345,274 | €665,910 | +€320,636 | +92.9% |
| Tangible fixed assets | 22/27 | €285,274 | €605,910 | +€320,636 | +112.4% |
| Land and buildings | 22 | €285,032 | €603,236 | +€318,203 | +111.6% |
| Plant, machinery and equipment | 23 | - | €2,674 | +€2,674 | |
| Furniture and vehicles | 24 | €241 | - | -€241 | |
| Financial fixed assets | 28 | €60,000 | €60,000 | = | 0.0% |
| Current assets | 29/58 | €549,622 | €457,748 | -€91,874 | -16.7% |
| Amounts receivable within one year | 40/41 | €311,918 | €340,001 | +€28,082 | +9.0% |
| Trade receivables | 40 | €285,859 | €265,000 | -€20,859 | -7.3% |
| Other amounts receivable | 41 | €26,060 | €75,001 | +€48,941 | +187.8% |
| Cash at bank and in hand | 54/58 | €226,105 | €106,601 | -€119,505 | -52.9% |
| Deferred charges and accrued income | 490/1 | €11,599 | €11,146 | -€452 | -3.9% |
| Total equity and liabilities | 10/49 | €894,896 | €1,123,658 | +€228,762 | +25.6% |
| Equity | 10/15 | €383,413 | €395,059 | +€11,646 | +3.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €364,863 | €376,509 | +€11,646 | +3.2% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €363,008 | €374,654 | +€11,646 | +3.2% |
| Amounts payable | 17/49 | €511,483 | €728,599 | +€217,116 | +42.4% |
| Amounts payable after more than one year | 17 | €122,742 | €318,675 | +€195,933 | +159.6% |
| Financial debts | 170/4 | €120,622 | €316,555 | +€195,933 | +162.4% |
| Other amounts payable | 178/9 | €2,120 | €2,120 | = | 0.0% |
| Amounts payable within one year | 42/48 | €380,305 | €400,928 | +€20,623 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €45,767 | €71,881 | +€26,114 | +57.1% |
| Trade debts | 44 | €6,458 | €7,507 | +€1,048 | +16.2% |
| Suppliers | 440/4 | €6,458 | €7,507 | +€1,048 | +16.2% |
| Taxes, remuneration and social security | 45 | €33,079 | €54,329 | +€21,250 | +64.2% |
| Taxes | 450/3 | €33,079 | €54,329 | +€21,250 | +64.2% |
| Other amounts payable | 47/48 | €295,000 | €267,211 | -€27,789 | -9.4% |
| Accrued charges and deferred income | 492/3 | €8,436 | €8,996 | +€560 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,963 | €32,050 | +€11,087 | +52.9% |
| Other operating charges | 640/8 | €1,599 | €1,802 | +€203 | +12.7% |
| Gross operating margin | 9900 | €430,605 | €464,465 | +€33,860 | +7.9% |
| Operating profit (loss) | 9901 | €408,043 | €430,613 | +€22,570 | +5.5% |
| Financial income | 75/76B | €0 | €1,250 | +€1,250 | +624900.0% |
| Recurring financial income | 75 | €0 | €1,250 | +€1,250 | +624900.0% |
| Financial charges | 65/66B | €5,111 | €9,414 | +€4,303 | +84.2% |
| Recurring financial charges | 65 | €5,111 | €9,414 | +€4,303 | +84.2% |
| Profit (loss) for the period before taxes | 9903 | €402,932 | €422,448 | +€19,516 | +4.8% |
| Income taxes | 67/77 | €97,430 | €103,477 | +€6,047 | +6.2% |
| Profit (loss) for the period | 9904 | €305,502 | €318,971 | +€13,469 | +4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €305,502 | €318,971 | +€13,469 | +4.4% |
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 6 October 2026 via checked.be.