REIWA: 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.
REIWA
Largest movements
- Receivables within one year +€22,731
up €22,731 (+54.7%), from €41,541 to €64,272
of which Other amounts receivable: +€41,372
- Tangible fixed assets -€17,284
down €17,284 (-43.7%), from €39,564 to €22,280
- Cash +€11,814
up €11,814 (+8.8%), from €134,997 to €146,811
mainly Net result for the year (+€52,721) and Depreciation (+€26,534)
- Reserves +€52,700
up €52,700 (+16.1%), from €327,350 to €380,050
- Current portion of long-term debt -€15,445
down €15,445 (-58.1%), from €26,598 to €11,153
- Debts after one year -€11,153
down €11,153 (-100%), from €11,153 to €0
- Tax, wage and social debts -€9,780
down €9,780 (-69.0%), from €14,180 to €4,400
- Gross operating margin -€3,026
down €3,026 (-3.1%), from €98,077 to €95,051
- Financial income +€1,204
up €1,204 (+22.2%), from €5,423 to €6,627
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 | €392,454 | €410,553 | +€18,100 | +4.6% |
| Fixed assets | 21/28 | €39,564 | €22,280 | -€17,284 | -43.7% |
| Tangible fixed assets | 22/27 | €39,564 | €22,280 | -€17,284 | -43.7% |
| Furniture and vehicles | 24 | €39,564 | €22,280 | -€17,284 | -43.7% |
| Current assets | 29/58 | €352,890 | €388,273 | +€35,384 | +10.0% |
| Amounts receivable after more than one year | 29 | €170,000 | €170,000 | = | 0.0% |
| Other amounts receivable | 291 | €170,000 | €170,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €41,541 | €64,272 | +€22,731 | +54.7% |
| Trade receivables | 40 | €35,520 | €16,879 | -€18,641 | -52.5% |
| Other amounts receivable | 41 | €6,021 | €47,393 | +€41,372 | +687% |
| Cash at bank and in hand | 54/58 | €134,997 | €146,811 | +€11,814 | +8.8% |
| Deferred charges and accrued income | 490/1 | €6,352 | €7,190 | +€838 | +13.2% |
| Total equity and liabilities | 10/49 | €392,454 | €410,553 | +€18,100 | +4.6% |
| Equity | 10/15 | €337,630 | €390,351 | +€52,721 | +15.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €327,350 | €380,050 | +€52,700 | +16.1% |
| Distributable reserves | 133 | €327,350 | €380,050 | +€52,700 | +16.1% |
| Profit (loss) carried forward | 14 | €280 | €301 | +€21 | +7.4% |
| Amounts payable | 17/49 | €54,824 | €20,203 | -€34,621 | -63.1% |
| Amounts payable after more than one year | 17 | €11,153 | €0 | -€11,153 | -100% |
| Financial debts | 170/4 | €11,153 | €0 | -€11,153 | -100% |
| Amounts payable within one year | 42/48 | €41,670 | €18,203 | -€23,467 | -56.3% |
| Current portion of amounts payable after more than one year | 42 | €26,598 | €11,153 | -€15,445 | -58.1% |
| Trade debts | 44 | €892 | €2,649 | +€1,757 | +197% |
| Suppliers | 440/4 | €892 | €2,649 | +€1,757 | +197% |
| Taxes, remuneration and social security | 45 | €14,180 | €4,400 | -€9,780 | -69.0% |
| Taxes | 450/3 | €14,180 | €4,400 | -€9,780 | -69.0% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,604 | €26,534 | -€69 | -0.3% |
| Other operating charges | 640/8 | €745 | €1,004 | +€258 | +34.6% |
| Gross operating margin | 9900 | €98,077 | €95,051 | -€3,026 | -3.1% |
| Operating profit (loss) | 9901 | €70,728 | €67,513 | -€3,215 | -4.5% |
| Financial income | 75/76B | €5,423 | €6,627 | +€1,204 | +22.2% |
| Recurring financial income | 75 | €5,423 | €6,627 | +€1,204 | +22.2% |
| Financial charges | 65/66B | €507 | €431 | -€76 | -15.1% |
| Recurring financial charges | 65 | €507 | €431 | -€76 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €75,644 | €73,709 | -€1,934 | -2.6% |
| Income taxes | 67/77 | €21,779 | €20,989 | -€790 | -3.6% |
| Profit (loss) for the period | 9904 | €53,865 | €52,721 | -€1,144 | -2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €53,865 | €52,721 | -€1,144 | -2.1% |
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 22 October 2026 via checked.be.