REGINE ET PATRICK: 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.
REGINE ET PATRICK
Largest movements
- Tangible fixed assets -€353,920
down €353,920 (-7.2%), from €4.9m to €4.5m
of which Land and buildings: -€361,243
- Receivables within one year -€142,856
down €142,856 (-37.4%), from €382,460 to €239,604
of which Other amounts receivable: -€136,936
- Stocks and contracts +€67,474
up €67,474 (+13.7%), from €491,845 to €559,319
- Current portion of long-term debt -€1.9m
down €1.9m (-88.8%), from €2.1m to €235,698
- Reserves +€1.1m
up €1.1m (+600.6%), from €179,932 to €1.3m
of which Tax-exempt reserves: +€1.1m
- Other debts +€939,818
new in 2025: €939,818
- Debts after one year -€559,724
down €559,724 (-18.8%), from €3.0m to €2.4m
- Profit (loss) carried forward -€164,299
down €164,299 (-109.6%), from -€149,939 to -€314,238
- Gross operating margin +€846,161
up €846,161 (+103.0%), from €821,391 to €1.7m
- Depreciation -€64,177
down €64,177 (-30.6%), from €209,499 to €145,322
- Other operating charges -€32,209
down €32,209 (-41.9%), from €76,797 to €44,588
- Staff costs +€31,097
up €31,097 (+11.7%), from €266,072 to €297,169
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 | €6,015,965 | €5,551,447 | -€464,518 | -7.7% |
| Fixed assets | 21/28 | €4,890,284 | €4,536,364 | -€353,920 | -7.2% |
| Tangible fixed assets | 22/27 | €4,889,814 | €4,535,894 | -€353,920 | -7.2% |
| Land and buildings | 22 | €4,701,388 | €4,340,145 | -€361,243 | -7.7% |
| Plant, machinery and equipment | 23 | €161,402 | €154,855 | -€6,547 | -4.1% |
| Furniture and vehicles | 24 | €27,024 | €40,894 | +€13,870 | +51.3% |
| Financial fixed assets | 28 | €470 | €470 | = | 0.0% |
| Current assets | 29/58 | €1,125,681 | €1,015,083 | -€110,598 | -9.8% |
| Stocks and contracts in progress | 3 | €491,845 | €559,319 | +€67,474 | +13.7% |
| Stocks | 30/36 | €491,845 | €559,319 | +€67,474 | +13.7% |
| Amounts receivable within one year | 40/41 | €382,460 | €239,604 | -€142,856 | -37.4% |
| Trade receivables | 40 | €13,920 | €8,000 | -€5,920 | -42.5% |
| Other amounts receivable | 41 | €368,540 | €231,604 | -€136,936 | -37.2% |
| Current investments | 50/53 | €41,622 | €41,622 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €209,754 | €170,289 | -€39,465 | -18.8% |
| Deferred charges and accrued income | 490/1 | - | €4,249 | +€4,249 | |
| Total equity and liabilities | 10/49 | €6,015,965 | €5,551,447 | -€464,518 | -7.7% |
| Equity | 10/15 | €60,980 | €977,333 | +€916,353 | +1502.7% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €179,932 | €1,260,584 | +€1.1m | +600.6% |
| Tax-exempt reserves | 132 | - | €1,080,651 | +€1.1m | |
| Distributable reserves | 133 | €179,932 | €179,933 | +€1 | 0.0% |
| Profit (loss) carried forward | 14 | -€149,939 | -€314,238 | -€164,299 | -109.6% |
| Amounts payable | 17/49 | €5,954,985 | €4,574,114 | -€1.4m | -23.2% |
| Amounts payable after more than one year | 17 | €2,976,842 | €2,417,118 | -€559,724 | -18.8% |
| Financial debts | 170/4 | €2,976,842 | €2,417,118 | -€559,724 | -18.8% |
| Amounts payable within one year | 42/48 | €2,978,143 | €2,156,996 | -€821,147 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €2,101,310 | €235,698 | -€1.9m | -88.8% |
| Trade debts | 44 | €812,488 | €915,106 | +€102,618 | +12.6% |
| Suppliers | 440/4 | €812,488 | €915,106 | +€102,618 | +12.6% |
| Taxes, remuneration and social security | 45 | €64,345 | €66,374 | +€2,029 | +3.2% |
| Taxes | 450/3 | €10,739 | €7,671 | -€3,068 | -28.6% |
| Remuneration and social security | 454/9 | €53,606 | €58,703 | +€5,097 | +9.5% |
| Other amounts payable | 47/48 | - | €939,818 | +€939,818 | |
| Remuneration, social security and pensions | 62 | €266,072 | €297,169 | +€31,097 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €209,499 | €145,322 | -€64,177 | -30.6% |
| Other operating charges | 640/8 | €76,797 | €44,588 | -€32,209 | -41.9% |
| Gross operating margin | 9900 | €821,391 | €1,667,552 | +€846,161 | +103.0% |
| Operating profit (loss) | 9901 | €269,023 | €1,180,473 | +€911,450 | +338.8% |
| Financial income | 75/76B | €3 | €424 | +€421 | +14033.3% |
| Recurring financial income | 75 | €3 | €424 | +€421 | +14033.3% |
| Financial charges | 65/66B | €196,529 | €194,203 | -€2,326 | -1.2% |
| Recurring financial charges | 65 | €196,529 | €194,203 | -€2,326 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €72,497 | €986,694 | +€914,197 | +1261.0% |
| Income taxes | 67/77 | €4,883 | €622 | -€4,261 | -87.3% |
| Profit (loss) for the period | 9904 | €67,614 | €986,072 | +€918,458 | +1358.4% |
| Profit (loss) for the period to be appropriated | 9905 | €67,614 | €986,072 | +€918,458 | +1358.4% |
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 7 October 2026 via checked.be.