REI PROJECTS: 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
REI PROJECTS
NACE 80.090, Investigation and security activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€414,206
2024 · €302,706+€111,500
Equity
€1.1m
2024 · €720,625+€414,206
Cash
€233,956
2024 · €189,011+€44,945
Balance sheet total
€3.7m
2024 · €3.1m+€633,354
Largest movements
Assets
- Stocks and contracts +€305,892
up €305,892 (+42.3%), from €722,779 to €1.0m
of which Contracts in progress: +€261,431
- Receivables within one year +€238,157
up €238,157 (+13.5%), from €1.8m to €2.0m
of which Trade receivables: +€262,752
- Tangible fixed assets +€45,457
up €45,457 (+11.6%), from €391,311 to €436,768
of which Leasing and similar rights: +€27,705
- Cash +€44,945
up €44,945 (+23.8%), from €189,011 to €233,956
mainly Net result for the year (+€414,206) and Advances received (+€156,349)
Equity and liabilities
- Profit (loss) carried forward +€414,206
up €414,206 (+65.5%), from €632,515 to €1.0m
- Debts after one year -€185,521
down €185,521 (-17.1%), from €1.1m to €902,054
- Advances received +€156,349
up €156,349 (+391.3%), from €39,961 to €196,310
- Trade debts +€108,360
up €108,360 (+11.8%), from €916,483 to €1.0m
- Current portion of long-term debt +€68,642
up €68,642 (+38.7%), from €177,424 to €246,066
Income statement
- Turnover +€2.1m
up €2.1m (+32.4%), from €6.5m to €8.6m
- Goods and materials +€1.3m
up €1.3m (+37.5%), from €3.6m to €4.9m
of which Purchases: +€1.3m
- Staff costs +€317,212
up €317,212 (+27.7%), from €1.1m to €1.5m
- Services and other goods +€272,980
up €272,980 (+16.9%), from €1.6m to €1.9m
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
€302,706
Turnover
+€2.1m
Other operating income
-€14,650
Goods and materials
-€1.3m
Services and other goods
-€272,980
Staff costs
-€317,212
Depreciation
-€27,554
Write-downs
+€40,824
Other operating charges
-€27,608
Other operating items
-€34,600
Financial income
-€4,215
Financial charges
-€6,060
Taxes
+€4,459
Result 2025
€414,206
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
+€329,395
Investment
-€167,570
Financing
-€116,879
Cash 2024
€189,011
From operations (derived)
+€329,395
Net result for the year
+€414,206
Depreciation
+€126,466
Stocks and contracts
-€305,892
Receivables within one year
-€238,157
Deferred charges and accrued income
-€3,256
Trade debts
+€108,360
Tax, wage and social debts
+€49,849
Advances received
+€156,349
Other debts
+€21,469
Investment (derived)
-€167,570
Investment in fixed assets (net)
-€167,570
Financing
-€116,879
Debts after one year
-€185,521
Current portion of long-term debt
+€68,642
Cash 2025
€233,956
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,069,563 | €3,702,917 | +€633,354 | +20.6% |
| Fixed assets | 21/28 | €397,241 | €438,345 | +€41,104 | +10.3% |
| Intangible fixed assets | 21 | €5,801 | €1,447 | -€4,354 | -75.1% |
| Tangible fixed assets | 22/27 | €391,311 | €436,768 | +€45,457 | +11.6% |
| Plant, machinery and equipment | 23 | €34,922 | €45,681 | +€10,759 | +30.8% |
| Furniture and vehicles | 24 | €864 | €9,160 | +€8,296 | +960.6% |
| Leasing and similar rights | 25 | €346,422 | €374,127 | +€27,705 | +8.0% |
| Other tangible fixed assets | 26 | €9,103 | €7,800 | -€1,303 | -14.3% |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Other financial fixed assets | 284/8 | €130 | €130 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €2,672,321 | €3,264,572 | +€592,251 | +22.2% |
| Stocks and contracts in progress | 3 | €722,779 | €1,028,671 | +€305,892 | +42.3% |
| Stocks | 30/36 | €237,952 | €282,413 | +€44,461 | +18.7% |
| Goods purchased for resale | 34 | €237,952 | €282,413 | +€44,461 | +18.7% |
| Contracts in progress | 37 | €484,827 | €746,258 | +€261,431 | +53.9% |
| Amounts receivable within one year | 40/41 | €1,760,532 | €1,998,688 | +€238,157 | +13.5% |
| Trade receivables | 40 | €1,592,225 | €1,854,977 | +€262,752 | +16.5% |
| Other amounts receivable | 41 | €168,307 | €143,712 | -€24,595 | -14.6% |
| Cash at bank and in hand | 54/58 | €189,011 | €233,956 | +€44,945 | +23.8% |
| Deferred charges and accrued income | 490/1 | - | €3,256 | +€3,256 | |
| Total equity and liabilities | 10/49 | €3,069,563 | €3,702,917 | +€633,354 | +20.6% |
| Equity | 10/15 | €720,625 | €1,134,832 | +€414,206 | +57.5% |
| Contributions | 10/11 | €80,100 | €80,100 | = | 0.0% |
| Capital | 10 | €80,100 | €80,100 | = | 0.0% |
| Issued capital | 100 | €80,100 | €80,100 | = | 0.0% |
| Reserves | 13 | €8,010 | €8,010 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,010 | €8,010 | = | 0.0% |
| Legal reserve | 130 | €8,010 | €8,010 | = | 0.0% |
| Profit (loss) carried forward | 14 | €632,515 | €1,046,722 | +€414,206 | +65.5% |
| Amounts payable | 17/49 | €2,348,937 | €2,568,086 | +€219,148 | +9.3% |
| Amounts payable after more than one year | 17 | €1,087,576 | €902,054 | -€185,521 | -17.1% |
| Financial debts | 170/4 | €1,087,576 | €902,054 | -€185,521 | -17.1% |
| Leasing and similar obligations | 172 | €267,113 | €266,019 | -€1,094 | -0.4% |
| Other loans | 174 | €820,463 | €636,035 | -€184,427 | -22.5% |
| Amounts payable within one year | 42/48 | €1,261,362 | €1,666,031 | +€404,670 | +32.1% |
| Current portion of amounts payable after more than one year | 42 | €177,424 | €246,066 | +€68,642 | +38.7% |
| Trade debts | 44 | €916,483 | €1,024,843 | +€108,360 | +11.8% |
| Suppliers | 440/4 | €916,483 | €1,024,843 | +€108,360 | +11.8% |
| Advances received on contracts in progress | 46 | €39,961 | €196,310 | +€156,349 | +391.3% |
| Taxes, remuneration and social security | 45 | €127,493 | €177,343 | +€49,849 | +39.1% |
| Taxes | 450/3 | €23,029 | €27,357 | +€4,328 | +18.8% |
| Remuneration and social security | 454/9 | €104,465 | €149,986 | +€45,521 | +43.6% |
| Other amounts payable | 47/48 | - | €21,469 | +€21,469 | |
| Operating income | 70/76A | €6,924,033 | €8,983,939 | +€2.1m | +29.8% |
| Turnover | 70 | €6,500,693 | €8,609,849 | +€2.1m | +32.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €290,335 | €261,431 | -€28,904 | -10.0% |
| Other operating income | 74 | €127,309 | €112,659 | -€14,650 | -11.5% |
| Non-recurring operating income | 76A | €5,696 | - | -€5,696 | |
| Operating charges | 60/66A | €6,431,490 | €8,374,080 | +€1.9m | +30.2% |
| Goods for resale, raw materials and consumables | 60 | €3,566,806 | €4,904,866 | +€1.3m | +37.5% |
| Purchases | 600/8 | €3,630,405 | €4,949,327 | +€1.3m | +36.3% |
| Change in stocks: decrease (increase) | 609 | -€63,600 | -€44,461 | +€19,138 | +30.1% |
| Services and other goods | 61 | €1,615,946 | €1,888,926 | +€272,980 | +16.9% |
| Remuneration, social security and pensions | 62 | €1,145,594 | €1,462,807 | +€317,212 | +27.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,912 | €126,466 | +€27,554 | +27.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,335 | -€39,489 | -€40,824 | |
| Other operating charges | 640/8 | €2,896 | €30,504 | +€27,608 | +953.2% |
| Operating profit (loss) | 9901 | €492,543 | €609,859 | +€117,316 | +23.8% |
| Financial income | 75/76B | €15,823 | €11,607 | -€4,215 | -26.6% |
| Recurring financial income | 75 | €15,823 | €11,607 | -€4,215 | -26.6% |
| Other financial income | 752/9 | €15,823 | €11,607 | -€4,215 | -26.6% |
| Financial charges | 65/66B | €51,606 | €57,666 | +€6,060 | +11.7% |
| Recurring financial charges | 65 | €51,606 | €57,666 | +€6,060 | +11.7% |
| Debt charges | 650 | €44,402 | €46,442 | +€2,041 | +4.6% |
| Other financial charges | 652/9 | €7,204 | €11,223 | +€4,019 | +55.8% |
| Profit (loss) for the period before taxes | 9903 | €456,760 | €563,801 | +€107,041 | +23.4% |
| Income taxes | 67/77 | €154,053 | €149,594 | -€4,459 | -2.9% |
| Taxes | 670/3 | €154,053 | €149,641 | -€4,413 | -2.9% |
| Tax adjustments and reversals of tax provisions | 77 | - | €46 | +€46 | |
| Profit (loss) for the period | 9904 | €302,706 | €414,206 | +€111,500 | +36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €302,706 | €414,206 | +€111,500 | +36.8% |
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 30 September 2026 via checked.be.