REIPCGAME: 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.
REIPCGAME
Largest movements
- Tangible fixed assets -€114,497
down €114,497 (-15.6%), from €736,062 to €621,565
of which Other tangible fixed assets: -€98,321
- Cash -€70,658
down €70,658 (-33.1%), from €213,678 to €143,021
mainly Debts after one year (-€57,853) and Trade debts (-€38,490)
- Deferred charges and accrued income +€34,707
up €34,707 (+218%), from €15,903 to €50,609
- Receivables within one year -€28,830
down €28,830 (-30.4%), from €94,832 to €66,001
of which Trade receivables: -€37,881
- Debts after one year -€57,853
down €57,853 (-8.9%), from €647,917 to €590,064
- Trade debts -€38,490
down €38,490 (-8.1%), from €477,844 to €439,355
- Other debts +€34,228
up €34,228 (+137%), from €25,000 to €59,228
- Current portion of long-term debt -€33,175
down €33,175 (-26.1%), from €127,221 to €94,046
- Profit (loss) carried forward -€26,745
down €26,745 (-12.3%), from -€217,394 to -€244,138
- Gross operating margin -€151,900
down €151,900 (-25.1%), from €606,071 to €454,171
- Staff costs -€118,938
down €118,938 (-26.6%), from €447,956 to €329,018
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 | €1,288,269 | €1,117,608 | -€170,660 | -13.2% |
| Fixed assets | 21/28 | €737,892 | €625,225 | -€112,667 | -15.3% |
| Tangible fixed assets | 22/27 | €736,062 | €621,565 | -€114,497 | -15.6% |
| Land and buildings | 22 | €4,393 | €3,895 | -€497 | -11.3% |
| Plant, machinery and equipment | 23 | €551 | €1,063 | +€511 | +92.8% |
| Furniture and vehicles | 24 | €40,589 | €24,400 | -€16,190 | -39.9% |
| Other tangible fixed assets | 26 | €690,529 | €592,207 | -€98,321 | -14.2% |
| Financial fixed assets | 28 | €1,830 | €3,660 | +€1,830 | +100% |
| Current assets | 29/58 | €550,377 | €492,384 | -€57,993 | -10.5% |
| Stocks and contracts in progress | 3 | €225,964 | €232,753 | +€6,788 | +3.0% |
| Stocks | 30/36 | €225,964 | €232,753 | +€6,788 | +3.0% |
| Amounts receivable within one year | 40/41 | €94,832 | €66,001 | -€28,830 | -30.4% |
| Trade receivables | 40 | €51,966 | €14,085 | -€37,881 | -72.9% |
| Other amounts receivable | 41 | €42,866 | €51,916 | +€9,051 | +21.1% |
| Cash at bank and in hand | 54/58 | €213,678 | €143,021 | -€70,658 | -33.1% |
| Deferred charges and accrued income | 490/1 | €15,903 | €50,609 | +€34,707 | +218% |
| Total equity and liabilities | 10/49 | €1,288,269 | €1,117,608 | -€170,660 | -13.2% |
| Equity | 10/15 | -€92,394 | -€119,138 | -€26,745 | -28.9% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€217,394 | -€244,138 | -€26,745 | -12.3% |
| Amounts payable | 17/49 | €1,380,662 | €1,236,747 | -€143,915 | -10.4% |
| Amounts payable after more than one year | 17 | €647,917 | €590,064 | -€57,853 | -8.9% |
| Financial debts | 170/4 | €647,917 | €590,064 | -€57,853 | -8.9% |
| Amounts payable within one year | 42/48 | €712,733 | €646,664 | -€66,070 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €127,221 | €94,046 | -€33,175 | -26.1% |
| Financial debts | 43 | €17,924 | - | -€17,924 | |
| Credit institutions | 430/8 | €17,924 | - | -€17,924 | |
| Trade debts | 44 | €477,844 | €439,355 | -€38,490 | -8.1% |
| Suppliers | 440/4 | €477,844 | €439,355 | -€38,490 | -8.1% |
| Advances received on contracts in progress | 46 | - | €1,517 | +€1,517 | |
| Taxes, remuneration and social security | 45 | €64,744 | €52,518 | -€12,226 | -18.9% |
| Taxes | 450/3 | €271 | €281 | +€10 | +3.6% |
| Remuneration and social security | 454/9 | €64,473 | €52,237 | -€12,236 | -19.0% |
| Other amounts payable | 47/48 | €25,000 | €59,228 | +€34,228 | +137% |
| Accrued charges and deferred income | 492/3 | €20,012 | €19 | -€19,993 | -99.9% |
| Non-recurring operating income | 76A | - | €300 | +€300 | |
| Remuneration, social security and pensions | 62 | €447,956 | €329,018 | -€118,938 | -26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,672 | €129,498 | -€3,174 | -2.4% |
| Other operating charges | 640/8 | €305 | €1,996 | +€1,691 | +554% |
| Gross operating margin | 9900 | €606,071 | €454,171 | -€151,900 | -25.1% |
| Operating profit (loss) | 9901 | €25,138 | -€6,341 | -€31,479 | |
| Financial income | 75/76B | €135 | €0 | -€134 | -99.9% |
| Recurring financial income | 75 | €135 | €0 | -€134 | -99.9% |
| Financial charges | 65/66B | €23,621 | €20,263 | -€3,358 | -14.2% |
| Recurring financial charges | 65 | €23,621 | €20,263 | -€3,358 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €1,651 | -€26,604 | -€28,255 | |
| Income taxes | 67/77 | €148 | €141 | -€7 | -4.7% |
| Profit (loss) for the period | 9904 | €1,503 | -€26,745 | -€28,248 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,503 | -€26,745 | -€28,248 |
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 16 October 2026 via checked.be.