REINAARD: 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.
REINAARD
Largest movements
- Cash +€117,899
up €117,899 (+125%), from €94,016 to €211,915
mainly Net result for the year (+€78,290) and Receivables within one year (+€64,978)
- Receivables within one year -€64,978
down €64,978 (-71.2%), from €91,303 to €26,325
of which Trade receivables: -€76,547
- Tangible fixed assets -€13,268
down €13,268 (-21.2%), from €62,543 to €49,275
of which Other tangible fixed assets: -€11,986
- Trade debts -€85,097
down €85,097 (-61.3%), from €138,851 to €53,754
- Reserves +€78,290
up €78,290 (+91.8%), from €85,243 to €163,533
- Tax, wage and social debts +€46,570
up €46,570 (+187%), from €24,945 to €71,514
of which Taxes: +€24,296
- Gross operating margin +€58,023
up €58,023 (+23.2%), from €250,456 to €308,479
- Staff costs +€24,912
up €24,912 (+15.8%), from €157,319 to €182,230
- Taxes +€9,356
up €9,356 (+50.2%), from €18,621 to €27,977
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 | €255,862 | €295,015 | +€39,153 | +15.3% |
| Fixed assets | 21/28 | €62,543 | €49,275 | -€13,268 | -21.2% |
| Tangible fixed assets | 22/27 | €62,543 | €49,275 | -€13,268 | -21.2% |
| Land and buildings | 22 | - | €3,451 | +€3,451 | |
| Plant, machinery and equipment | 23 | €1,410 | €2,818 | +€1,408 | +99.8% |
| Furniture and vehicles | 24 | €18,113 | €11,973 | -€6,141 | -33.9% |
| Other tangible fixed assets | 26 | €43,019 | €31,033 | -€11,986 | -27.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €193,319 | €245,740 | +€52,421 | +27.1% |
| Stocks and contracts in progress | 3 | €8,000 | €7,500 | -€500 | -6.3% |
| Stocks | 30/36 | €8,000 | €7,500 | -€500 | -6.3% |
| Amounts receivable within one year | 40/41 | €91,303 | €26,325 | -€64,978 | -71.2% |
| Trade receivables | 40 | €88,213 | €11,666 | -€76,547 | -86.8% |
| Other amounts receivable | 41 | €3,090 | €14,659 | +€11,569 | +374% |
| Cash at bank and in hand | 54/58 | €94,016 | €211,915 | +€117,899 | +125% |
| Total equity and liabilities | 10/49 | €255,862 | €295,015 | +€39,153 | +15.3% |
| Equity | 10/15 | €91,443 | €169,733 | +€78,290 | +85.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €85,243 | €163,533 | +€78,290 | +91.8% |
| Distributable reserves | 133 | €85,243 | €163,533 | +€78,290 | +91.8% |
| Amounts payable | 17/49 | €164,419 | €125,283 | -€39,136 | -23.8% |
| Amounts payable within one year | 42/48 | €164,419 | €125,283 | -€39,136 | -23.8% |
| Trade debts | 44 | €138,851 | €53,754 | -€85,097 | -61.3% |
| Suppliers | 440/4 | €138,851 | €53,754 | -€85,097 | -61.3% |
| Taxes, remuneration and social security | 45 | €24,945 | €71,514 | +€46,570 | +187% |
| Taxes | 450/3 | €16,287 | €40,584 | +€24,296 | +149% |
| Remuneration and social security | 454/9 | €8,657 | €30,931 | +€22,273 | +257% |
| Other amounts payable | 47/48 | €623 | €14 | -€609 | -97.7% |
| Remuneration, social security and pensions | 62 | €157,319 | €182,230 | +€24,912 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,859 | €15,300 | +€1,441 | +10.4% |
| Other operating charges | 640/8 | €5,316 | €2,400 | -€2,917 | -54.9% |
| Gross operating margin | 9900 | €250,456 | €308,479 | +€58,023 | +23.2% |
| Operating profit (loss) | 9901 | €73,962 | €108,549 | +€34,586 | +46.8% |
| Financial income | 75/76B | €71 | €20 | -€51 | -71.4% |
| Recurring financial income | 75 | €71 | €20 | -€51 | -71.4% |
| Financial charges | 65/66B | €124 | €2,302 | +€2,178 | +1,755% |
| Recurring financial charges | 65 | €124 | €2,302 | +€2,178 | +1,755% |
| Profit (loss) for the period before taxes | 9903 | €73,909 | €106,267 | +€32,358 | +43.8% |
| Income taxes | 67/77 | €18,621 | €27,977 | +€9,356 | +50.2% |
| Profit (loss) for the period | 9904 | €55,288 | €78,290 | +€23,001 | +41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €55,288 | €78,290 | +€23,001 | +41.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.