REINAERT: 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.
What changed
REINAERT
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€22,208
2024 · €11,465+€10,743
Equity
€479,491
2024 · €734,483-€254,992
Cash
€15,656
2024 · €8,337+€7,320
Balance sheet total
€1.9m
2024 · €1.9m-€41,709
Largest movements
Assets
- Tangible fixed assets -€55,834
down €55,834 (-2.9%), from €1.9m to €1.9m
Equity and liabilities
- Other debts +€307,100
up €307,100 (+93.8%), from €327,255 to €634,355
- Reserves -€254,998
down €254,998 (-37.9%), from €672,475 to €417,477
of which Distributable reserves: -€236,500
- Debts after one year -€105,274
down €105,274 (-16.6%), from €632,942 to €527,668
Income statement
- Gross operating margin +€14,485
up €14,485 (+10.7%), from €135,628 to €150,113
- Taxes +€5,338
up €5,338 (+38.1%), from €14,003 to €19,341
- Financial charges -€2,401
down €2,401 (-5.6%), from €42,919 to €40,519
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
€11,465
Gross operating margin
+€14,485
Other operating charges
-€805
Financial charges
+€2,401
Taxes
-€5,338
Result 2025
€22,208
raises the resultlowers the result
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.
From operations
+€388,185
Investment
-€1,523
Financing
-€379,343
Cash 2024
€8,337
From operations (derived)
+€388,185
Net result for the year
+€22,208
Depreciation
+€55,834
Receivables within one year
-€4
Deferred charges and accrued income
-€5,279
Provisions
-€6,166
Trade debts
-€3,512
Tax, wage and social debts
+€18,915
Other debts
+€307,100
Accrued charges and deferred income
-€911
Investment (derived)
-€1,523
Investment in fixed assets (net)
-€1,523
Financing
-€379,343
Debts after one year
-€105,274
Current portion of long-term debt
+€3,131
Contributions, distributions and other
-€277,200
Cash 2025
€15,656
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,942,056 | €1,900,348 | -€41,709 | -2.1% |
| Fixed assets | 21/28 | €1,931,439 | €1,877,128 | -€54,311 | -2.8% |
| Tangible fixed assets | 22/27 | €1,926,371 | €1,870,537 | -€55,834 | -2.9% |
| Land and buildings | 22 | €1,926,371 | €1,870,537 | -€55,834 | -2.9% |
| Financial fixed assets | 28 | €5,068 | €6,590 | +€1,523 | +30.0% |
| Current assets | 29/58 | €10,618 | €23,220 | +€12,602 | +119% |
| Amounts receivable within one year | 40/41 | €1,004 | €1,008 | +€4 | +0.4% |
| Other amounts receivable | 41 | €1,004 | €1,008 | +€4 | +0.4% |
| Cash at bank and in hand | 54/58 | €8,337 | €15,656 | +€7,320 | +87.8% |
| Deferred charges and accrued income | 490/1 | €1,277 | €6,556 | +€5,279 | +413% |
| Total equity and liabilities | 10/49 | €1,942,056 | €1,900,348 | -€41,709 | -2.1% |
| Equity | 10/15 | €734,483 | €479,491 | -€254,992 | -34.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €672,475 | €417,477 | -€254,998 | -37.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €312,713 | €294,215 | -€18,498 | -5.9% |
| Distributable reserves | 133 | €353,562 | €117,062 | -€236,500 | -66.9% |
| Profit (loss) carried forward | 14 | €8 | €14 | +€5 | +64.3% |
| Provisions and deferred taxes | 16 | €104,238 | €98,072 | -€6,166 | -5.9% |
| Deferred taxes | 168 | €104,238 | €98,072 | -€6,166 | -5.9% |
| Amounts payable | 17/49 | €1,103,335 | €1,322,785 | +€219,450 | +19.9% |
| Amounts payable after more than one year | 17 | €632,942 | €527,668 | -€105,274 | -16.6% |
| Financial debts | 170/4 | €632,942 | €527,668 | -€105,274 | -16.6% |
| Amounts payable within one year | 42/48 | €440,578 | €766,213 | +€325,635 | +73.9% |
| Current portion of amounts payable after more than one year | 42 | €102,143 | €105,274 | +€3,131 | +3.1% |
| Trade debts | 44 | €3,512 | - | -€3,512 | |
| Suppliers | 440/4 | €3,512 | - | -€3,512 | |
| Taxes, remuneration and social security | 45 | €7,668 | €26,584 | +€18,915 | +247% |
| Taxes | 450/3 | €7,668 | €26,584 | +€18,915 | +247% |
| Other amounts payable | 47/48 | €327,255 | €634,355 | +€307,100 | +93.8% |
| Accrued charges and deferred income | 492/3 | €29,815 | €28,905 | -€911 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,834 | €55,834 | = | 0.0% |
| Other operating charges | 640/8 | €17,573 | €18,378 | +€805 | +4.6% |
| Gross operating margin | 9900 | €135,628 | €150,113 | +€14,485 | +10.7% |
| Operating profit (loss) | 9901 | €62,221 | €75,902 | +€13,680 | +22.0% |
| Financial charges | 65/66B | €42,919 | €40,519 | -€2,401 | -5.6% |
| Recurring financial charges | 65 | €42,919 | €40,519 | -€2,401 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €19,302 | €35,383 | +€16,081 | +83.3% |
| Transfer from deferred taxes | 780 | €6,166 | €6,166 | = | 0.0% |
| Income taxes | 67/77 | €14,003 | €19,341 | +€5,338 | +38.1% |
| Profit (loss) for the period | 9904 | €11,465 | €22,208 | +€10,743 | +93.7% |
| Transfer from tax-exempt reserves | 789 | €18,498 | €18,498 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,962 | €40,705 | +€10,743 | +35.9% |
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 25 October 2026 via checked.be.