REKA PROJECT: 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.
REKA PROJECT
Largest movements
- Receivables within one year -€324,621
down €324,621 (-54.5%), from €596,097 to €271,476
of which Trade receivables: -€174,822
- Cash +€129,660
up €129,660 (+127%), from €102,058 to €231,718
mainly Receivables within one year (+€324,621) and Depreciation (+€21,634)
- Tax, wage and social debts -€97,163
down €97,163 (-50.3%), from €193,121 to €95,958
of which Remuneration and social security: -€55,025
- Trade debts -€78,049
down €78,049 (-54.6%), from €142,994 to €64,945
- Debts after one year -€32,029
down €32,029 (-28.0%), from €114,543 to €82,513
- Current portion of long-term debt -€8,383
down €8,383 (-16.8%), from €50,003 to €41,620
- Profit (loss) carried forward +€7,582
up €7,582 (+3.5%), from €218,584 to €226,167
- Gross operating margin +€77,006
up €77,006 (+16.6%), from €463,223 to €540,229
- Financial charges +€52,701
up €52,701 (+262%), from €20,153 to €72,854
of which Financial charges: +€52,272
- Financial income -€16,801
down €16,801 (-99.5%), from €16,891 to €90
- Depreciation +€8,125
up €8,125 (+60.1%), from €13,509 to €21,634
- Taxes +€7,921
new in 2025: €7,921
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 | €739,705 | €531,663 | -€208,042 | -28.1% |
| Fixed assets | 21/28 | €34,077 | €24,164 | -€9,914 | -29.1% |
| Tangible fixed assets | 22/27 | €29,147 | €22,464 | -€6,684 | -22.9% |
| Furniture and vehicles | 24 | €29,147 | €22,464 | -€6,684 | -22.9% |
| Financial fixed assets | 28 | €4,930 | €1,700 | -€3,230 | -65.5% |
| Current assets | 29/58 | €705,628 | €507,499 | -€198,128 | -28.1% |
| Amounts receivable within one year | 40/41 | €596,097 | €271,476 | -€324,621 | -54.5% |
| Trade receivables | 40 | €368,484 | €193,663 | -€174,822 | -47.4% |
| Other amounts receivable | 41 | €227,613 | €77,813 | -€149,800 | -65.8% |
| Cash at bank and in hand | 54/58 | €102,058 | €231,718 | +€129,660 | +127% |
| Deferred charges and accrued income | 490/1 | €7,473 | €4,305 | -€3,167 | -42.4% |
| Total equity and liabilities | 10/49 | €739,705 | €531,663 | -€208,042 | -28.1% |
| Equity | 10/15 | €239,044 | €246,627 | +€7,582 | +3.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €218,584 | €226,167 | +€7,582 | +3.5% |
| Amounts payable | 17/49 | €500,661 | €285,036 | -€215,624 | -43.1% |
| Amounts payable after more than one year | 17 | €114,543 | €82,513 | -€32,029 | -28.0% |
| Financial debts | 170/4 | €114,543 | €82,513 | -€32,029 | -28.0% |
| Amounts payable within one year | 42/48 | €386,118 | €202,523 | -€183,595 | -47.5% |
| Current portion of amounts payable after more than one year | 42 | €50,003 | €41,620 | -€8,383 | -16.8% |
| Trade debts | 44 | €142,994 | €64,945 | -€78,049 | -54.6% |
| Suppliers | 440/4 | €142,994 | €64,945 | -€78,049 | -54.6% |
| Taxes, remuneration and social security | 45 | €193,121 | €95,958 | -€97,163 | -50.3% |
| Taxes | 450/3 | €64,175 | €22,038 | -€42,137 | -65.7% |
| Remuneration and social security | 454/9 | €128,946 | €73,921 | -€55,025 | -42.7% |
| Remuneration, social security and pensions | 62 | €432,579 | €428,784 | -€3,795 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,509 | €21,634 | +€8,125 | +60.1% |
| Other operating charges | 640/8 | - | €1,543 | +€1,543 | |
| Non-recurring operating charges | 66A | €4,940 | - | -€4,940 | |
| Gross operating margin | 9900 | €463,223 | €540,229 | +€77,006 | +16.6% |
| Operating profit (loss) | 9901 | €12,195 | €88,268 | +€76,072 | +624% |
| Financial income | 75/76B | €16,891 | €90 | -€16,801 | -99.5% |
| Recurring financial income | 75 | €16,891 | €90 | -€16,801 | -99.5% |
| Financial charges | 65/66B | €20,153 | €72,854 | +€52,701 | +262% |
| Recurring financial charges | 65 | €18,246 | €70,518 | +€52,272 | +286% |
| Non-recurring financial charges | 66B | €1,907 | €2,336 | +€429 | +22.5% |
| Profit (loss) for the period before taxes | 9903 | €8,934 | €15,503 | +€6,570 | +73.5% |
| Income taxes | 67/77 | - | €7,921 | +€7,921 | |
| Profit (loss) for the period | 9904 | €8,934 | €7,582 | -€1,351 | -15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,934 | €7,582 | -€1,351 | -15.1% |
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 23 October 2026 via checked.be.