REKO: 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.
REKO
Largest movements
- Cash +€302,124
up €302,124 (+390%), from €77,554 to €379,678
mainly Trade debts (+€157,539) and Receivables within one year (+€124,457)
- Receivables within one year -€124,457
down €124,457 (-18.4%), from €675,888 to €551,431
of which Other amounts receivable: -€121,902
- Trade debts +€157,539
up €157,539 (+166%), from €94,958 to €252,496
- Reserves +€67,460
up €67,460 (+31.2%), from €216,478 to €283,938
of which Distributable reserves: +€67,460
- Other debts -€65,986
down €65,986 (-9.7%), from €681,449 to €615,463
- Tax, wage and social debts +€51,048
up €51,048 (+279%), from €18,312 to €69,361
of which Taxes: +€40,698
- Debts after one year -€43,750
down €43,750 (-82.8%), from €52,865 to €9,114
- Gross operating margin +€269,111
up €269,111 (+126%), from €214,011 to €483,121
- Write-downs +€180,391
new in 2025: €180,391
- Staff costs +€118,647
up €118,647 (+180%), from €66,005 to €184,652
- Taxes +€45,220
up €45,220 (+512%), from €8,829 to €54,049
- Financial income +€21,699
up €21,699 (+101%), from €21,538 to €43,237
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 | €1,132,788 | €1,314,247 | +€181,460 | +16.0% |
| Fixed assets | 21/28 | €337,311 | €333,379 | -€3,931 | -1.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €56,723 | €52,793 | -€3,931 | -6.9% |
| Land and buildings | 22 | €12,395 | €12,395 | = | 0.0% |
| Plant, machinery and equipment | 23 | €37,211 | €30,601 | -€6,610 | -17.8% |
| Furniture and vehicles | 24 | €7,118 | €9,797 | +€2,679 | +37.6% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €280,587 | €280,587 | -€0 | 0.0% |
| Current assets | 29/58 | €795,477 | €980,868 | +€185,391 | +23.3% |
| Stocks and contracts in progress | 3 | €39,768 | €37,891 | -€1,878 | -4.7% |
| Stocks | 30/36 | €39,768 | €37,891 | -€1,878 | -4.7% |
| Amounts receivable within one year | 40/41 | €675,888 | €551,431 | -€124,457 | -18.4% |
| Trade receivables | 40 | €4,309 | €1,755 | -€2,555 | -59.3% |
| Other amounts receivable | 41 | €671,579 | €549,676 | -€121,902 | -18.2% |
| Cash at bank and in hand | 54/58 | €77,554 | €379,678 | +€302,124 | +390% |
| Deferred charges and accrued income | 490/1 | €2,266 | €11,868 | +€9,602 | +424% |
| Total equity and liabilities | 10/49 | €1,132,788 | €1,314,247 | +€181,460 | +16.0% |
| Equity | 10/15 | €278,478 | €345,938 | +€67,460 | +24.2% |
| 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 | €216,478 | €283,938 | +€67,460 | +31.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | €0 | = | |
| Distributable reserves | 133 | €210,278 | €277,738 | +€67,460 | +32.1% |
| Amounts payable | 17/49 | €854,310 | €968,310 | +€113,999 | +13.3% |
| Amounts payable after more than one year | 17 | €52,865 | €9,114 | -€43,750 | -82.8% |
| Financial debts | 170/4 | €52,865 | €9,114 | -€43,750 | -82.8% |
| Amounts payable within one year | 42/48 | €801,446 | €959,195 | +€157,749 | +19.7% |
| Current portion of amounts payable after more than one year | 42 | €6,727 | €21,875 | +€15,149 | +225% |
| Trade debts | 44 | €94,958 | €252,496 | +€157,539 | +166% |
| Suppliers | 440/4 | €94,958 | €252,496 | +€157,539 | +166% |
| Taxes, remuneration and social security | 45 | €18,312 | €69,361 | +€51,048 | +279% |
| Taxes | 450/3 | €10,898 | €51,596 | +€40,698 | +373% |
| Remuneration and social security | 454/9 | €7,414 | €17,765 | +€10,351 | +140% |
| Other amounts payable | 47/48 | €681,449 | €615,463 | -€65,986 | -9.7% |
| Non-recurring operating income | 76A | - | €900 | +€900 | |
| Remuneration, social security and pensions | 62 | €66,005 | €184,652 | +€118,647 | +180% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,836 | €9,905 | +€2,069 | +26.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €180,391 | +€180,391 | |
| Other operating charges | 640/8 | - | €9,509 | +€9,509 | |
| Non-recurring operating charges | 66A | - | €6,589 | +€6,589 | |
| Gross operating margin | 9900 | €214,011 | €483,121 | +€269,111 | +126% |
| Operating profit (loss) | 9901 | €140,169 | €92,075 | -€48,094 | -34.3% |
| Financial income | 75/76B | €21,538 | €43,237 | +€21,699 | +101% |
| Recurring financial income | 75 | €21,538 | €43,237 | +€21,699 | +101% |
| Financial charges | 65/66B | €6,100 | €13,803 | +€7,703 | +126% |
| Recurring financial charges | 65 | €6,100 | €13,803 | +€7,703 | +126% |
| Profit (loss) for the period before taxes | 9903 | €155,607 | €121,509 | -€34,098 | -21.9% |
| Income taxes | 67/77 | €8,829 | €54,049 | +€45,220 | +512% |
| Profit (loss) for the period | 9904 | €146,778 | €67,460 | -€79,318 | -54.0% |
| Profit (loss) for the period to be appropriated | 9905 | €146,778 | €67,460 | -€79,318 | -54.0% |
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 14 October 2026 via checked.be.