REICOM: 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.
REICOM
Largest movements
- Stocks and contracts -€436,696
no longer reported in 2025 (was €436,696)
- Tangible fixed assets -€49,440
down €49,440 (-4.9%), from €1.0m to €958,480
of which Land and buildings: -€47,793
- Debts after one year -€376,338
down €376,338 (-57.5%), from €654,485 to €278,147
- Trade debts -€71,918
down €71,918 (-73.9%), from €97,374 to €25,455
- Current portion of long-term debt -€23,363
down €23,363 (-31.3%), from €74,700 to €51,338
- Other debts -€15,480
down €15,480 (-12.1%), from €128,311 to €112,831
- Other operating charges -€5,557
down €5,557 (-59.6%), from €9,327 to €3,770
- Financial charges +€5,237
up €5,237 (+16.2%), from €32,393 to €37,630
- Gross operating margin +€5,152
up €5,152 (+4.9%), from €105,752 to €110,904
- Taxes +€2,534
up €2,534 (+57.3%), from €4,426 to €6,959
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.
Derived cash bridge
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 | €1,453,514 | €973,856 | -€479,658 | -33.0% |
| Fixed assets | 21/28 | €1,007,920 | €958,480 | -€49,440 | -4.9% |
| Tangible fixed assets | 22/27 | €1,007,920 | €958,480 | -€49,440 | -4.9% |
| Land and buildings | 22 | €1,004,625 | €956,832 | -€47,793 | -4.8% |
| Plant, machinery and equipment | 23 | €2,880 | €1,648 | -€1,232 | -42.8% |
| Furniture and vehicles | 24 | €414 | - | -€414 | |
| Current assets | 29/58 | €445,595 | €15,376 | -€430,218 | -96.5% |
| Stocks and contracts in progress | 3 | €436,696 | - | -€436,696 | |
| Stocks | 30/36 | €436,696 | - | -€436,696 | |
| Amounts receivable within one year | 40/41 | €8,880 | €8,335 | -€545 | -6.1% |
| Trade receivables | 40 | €8,306 | €8,335 | +€29 | +0.4% |
| Other amounts receivable | 41 | €574 | - | -€574 | |
| Cash at bank and in hand | 54/58 | €19 | €7,041 | +€7,022 | +37,254% |
| Total equity and liabilities | 10/49 | €1,453,514 | €973,856 | -€479,658 | -33.0% |
| Equity | 10/15 | €486,924 | €499,045 | +€12,121 | +2.5% |
| Contributions | 10/11 | €62,100 | €62,100 | = | 0.0% |
| Capital | 10 | €62,100 | €62,100 | = | 0.0% |
| Issued capital | 100 | €62,100 | €62,100 | = | 0.0% |
| Reserves | 13 | €77,714 | €77,714 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,210 | €6,210 | = | 0.0% |
| Legal reserve | 130 | €6,210 | €6,210 | = | 0.0% |
| Distributable reserves | 133 | €71,504 | €71,504 | = | 0.0% |
| Profit (loss) carried forward | 14 | €347,110 | €359,231 | +€12,121 | +3.5% |
| Amounts payable | 17/49 | €966,591 | €474,812 | -€491,779 | -50.9% |
| Amounts payable after more than one year | 17 | €654,485 | €278,147 | -€376,338 | -57.5% |
| Financial debts | 170/4 | €654,485 | €278,147 | -€376,338 | -57.5% |
| Amounts payable within one year | 42/48 | €312,106 | €196,665 | -€115,441 | -37.0% |
| Current portion of amounts payable after more than one year | 42 | €74,700 | €51,338 | -€23,363 | -31.3% |
| Financial debts | 43 | €10,299 | - | -€10,299 | |
| Credit institutions | 430/8 | €10,299 | - | -€10,299 | |
| Trade debts | 44 | €97,374 | €25,455 | -€71,918 | -73.9% |
| Suppliers | 440/4 | €97,374 | €25,455 | -€71,918 | -73.9% |
| Taxes, remuneration and social security | 45 | €1,422 | €7,041 | +€5,619 | +395% |
| Taxes | 450/3 | €1,422 | €7,041 | +€5,619 | +395% |
| Other amounts payable | 47/48 | €128,311 | €112,831 | -€15,480 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,213 | €51,054 | +€841 | +1.7% |
| Other operating charges | 640/8 | €9,327 | €3,770 | -€5,557 | -59.6% |
| Gross operating margin | 9900 | €105,752 | €110,904 | +€5,152 | +4.9% |
| Operating profit (loss) | 9901 | €46,212 | €56,080 | +€9,868 | +21.4% |
| Financial income | 75/76B | €840 | €630 | -€210 | -25.0% |
| Recurring financial income | 75 | €840 | €630 | -€210 | -25.0% |
| Financial charges | 65/66B | €32,393 | €37,630 | +€5,237 | +16.2% |
| Recurring financial charges | 65 | €32,393 | €37,630 | +€5,237 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €14,659 | €19,080 | +€4,421 | +30.2% |
| Income taxes | 67/77 | €4,426 | €6,959 | +€2,534 | +57.3% |
| Profit (loss) for the period | 9904 | €10,233 | €12,121 | +€1,888 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,233 | €12,121 | +€1,888 | +18.4% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.