REINHARD: 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.
REINHARD
Largest movements
- Cash +€125,206
up €125,206 (+126%), from €99,666 to €224,872
mainly Net result for the year (+€138,974) and Tax, wage and social debts (+€21,246)
- Receivables within one year +€26,637
up €26,637 (+90.3%), from €29,505 to €56,142
of which Trade receivables: +€26,640
- Profit (loss) carried forward +€130,974
up €130,974 (+241%), from €54,308 to €185,283
- Tax, wage and social debts +€21,246
up €21,246 (+63.4%), from €33,500 to €54,747
- Gross operating margin +€67,863
up €67,863 (+60.9%), from €111,467 to €179,330
- Taxes +€14,279
up €14,279 (+59.7%), from €23,917 to €38,196
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 | €132,906 | €288,255 | +€155,349 | +117% |
| Fixed assets | 21/28 | €3,307 | €4,254 | +€947 | +28.6% |
| Tangible fixed assets | 22/27 | €3,307 | €4,254 | +€947 | +28.6% |
| Furniture and vehicles | 24 | €3,307 | €4,254 | +€947 | +28.6% |
| Current assets | 29/58 | €129,599 | €284,001 | +€154,402 | +119% |
| Amounts receivable within one year | 40/41 | €29,505 | €56,142 | +€26,637 | +90.3% |
| Trade receivables | 40 | €29,501 | €56,142 | +€26,640 | +90.3% |
| Other amounts receivable | 41 | €3 | €0 | -€3 | -100% |
| Cash at bank and in hand | 54/58 | €99,666 | €224,872 | +€125,206 | +126% |
| Deferred charges and accrued income | 490/1 | €428 | €2,987 | +€2,559 | +597% |
| Total equity and liabilities | 10/49 | €132,906 | €288,255 | +€155,349 | +117% |
| Equity | 10/15 | €89,566 | €220,540 | +€130,974 | +146% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €32,757 | €32,757 | = | 0.0% |
| Distributable reserves | 133 | €32,757 | €32,757 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,308 | €185,283 | +€130,974 | +241% |
| Amounts payable | 17/49 | €43,341 | €67,716 | +€24,375 | +56.2% |
| Amounts payable within one year | 42/48 | €43,156 | €67,525 | +€24,369 | +56.5% |
| Trade debts | 44 | €849 | €1,232 | +€383 | +45.1% |
| Suppliers | 440/4 | €849 | €1,232 | +€383 | +45.1% |
| Taxes, remuneration and social security | 45 | €33,500 | €54,747 | +€21,246 | +63.4% |
| Taxes | 450/3 | €33,500 | €54,747 | +€21,246 | +63.4% |
| Other amounts payable | 47/48 | €8,806 | €11,546 | +€2,740 | +31.1% |
| Accrued charges and deferred income | 492/3 | €185 | €191 | +€6 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €353 | €1,029 | +€676 | +191% |
| Other operating charges | 640/8 | €513 | €588 | +€74 | +14.5% |
| Gross operating margin | 9900 | €111,467 | €179,330 | +€67,863 | +60.9% |
| Operating profit (loss) | 9901 | €110,601 | €177,714 | +€67,113 | +60.7% |
| Financial charges | 65/66B | €17 | €544 | +€527 | +3,168% |
| Recurring financial charges | 65 | €17 | €544 | +€527 | +3,168% |
| Profit (loss) for the period before taxes | 9903 | €110,584 | €177,170 | +€66,586 | +60.2% |
| Income taxes | 67/77 | €23,917 | €38,196 | +€14,279 | +59.7% |
| Profit (loss) for the period | 9904 | €86,667 | €138,974 | +€52,307 | +60.4% |
| Profit (loss) for the period to be appropriated | 9905 | €86,667 | €138,974 | +€52,307 | +60.4% |
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 30 October 2026 via checked.be.