REKWUP: 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.
REKWUP
Largest movements
- Receivables within one year +€80,205
up €80,205 (+72.6%), from €110,444 to €190,649
of which Trade receivables: +€78,451
- Cash -€53,981
down €53,981 (-73.4%), from €73,577 to €19,596
mainly Receivables within one year (-€80,205) and Debts after one year (-€46,159)
- Trade debts +€60,754
up €60,754 (+111.8%), from €54,326 to €115,079
- Debts after one year -€46,159
down €46,159 (-47.6%), from €97,014 to €50,855
of which Financial debts: -€33,049
- Profit (loss) carried forward +€24,210
up €24,210 (+104.6%), from €23,151 to €47,361
- Tax, wage and social debts -€18,229
down €18,229 (-47.3%), from €38,511 to €20,282
of which Remuneration and social security: -€11,398
- Current portion of long-term debt +€6,734
up €6,734 (+14.6%), from €46,052 to €52,786
- Write-downs +€32,063
new in 2025: €32,063
- Staff costs -€29,990
down €29,990 (-18.6%), from €161,208 to €131,218
- Depreciation -€13,485
down €13,485 (-37.5%), from €35,945 to €22,460
- Taxes +€4,995
up €4,995 (+215.9%), from €2,313 to €7,309
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.
Cash bridge derived
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 | €349,464 | €375,413 | +€25,949 | +7.4% |
| Fixed assets | 21/28 | €50,893 | €51,406 | +€514 | +1.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €43,693 | €45,206 | +€1,514 | +3.5% |
| Plant, machinery and equipment | 23 | €19,388 | €7,054 | -€12,334 | -63.6% |
| Furniture and vehicles | 24 | €9,760 | €5,760 | -€4,000 | -41.0% |
| Other tangible fixed assets | 26 | €14,545 | €32,393 | +€17,847 | +122.7% |
| Financial fixed assets | 28 | €7,200 | €6,200 | -€1,000 | -13.9% |
| Current assets | 29/58 | €298,571 | €324,007 | +€25,436 | +8.5% |
| Stocks and contracts in progress | 3 | €114,395 | €113,700 | -€694 | -0.6% |
| Stocks | 30/36 | €114,395 | €113,700 | -€694 | -0.6% |
| Amounts receivable within one year | 40/41 | €110,444 | €190,649 | +€80,205 | +72.6% |
| Trade receivables | 40 | €105,234 | €183,685 | +€78,451 | +74.5% |
| Other amounts receivable | 41 | €5,210 | €6,964 | +€1,755 | +33.7% |
| Cash at bank and in hand | 54/58 | €73,577 | €19,596 | -€53,981 | -73.4% |
| Deferred charges and accrued income | 490/1 | €156 | €62 | -€95 | -60.6% |
| Total equity and liabilities | 10/49 | €349,464 | €375,413 | +€25,949 | +7.4% |
| Equity | 10/15 | €113,561 | €136,411 | +€22,850 | +20.1% |
| Contributions | 10/11 | €83,550 | €83,550 | = | 0.0% |
| Capital | 10 | €83,550 | €83,550 | = | 0.0% |
| Issued capital | 100 | €83,550 | €83,550 | = | 0.0% |
| Reserves | 13 | €5,500 | €5,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Legal reserve | 130 | €3,000 | €3,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,151 | €47,361 | +€24,210 | +104.6% |
| Investment grants | 15 | €1,360 | - | -€1,360 | |
| Amounts payable | 17/49 | €235,903 | €239,003 | +€3,100 | +1.3% |
| Amounts payable after more than one year | 17 | €97,014 | €50,855 | -€46,159 | -47.6% |
| Financial debts | 170/4 | €68,172 | €35,123 | -€33,049 | -48.5% |
| Trade debts | 175 | €28,842 | €15,732 | -€13,110 | -45.5% |
| Amounts payable within one year | 42/48 | €138,888 | €188,147 | +€49,259 | +35.5% |
| Current portion of amounts payable after more than one year | 42 | €46,052 | €52,786 | +€6,734 | +14.6% |
| Trade debts | 44 | €54,326 | €115,079 | +€60,754 | +111.8% |
| Suppliers | 440/4 | €54,326 | €115,079 | +€60,754 | +111.8% |
| Taxes, remuneration and social security | 45 | €38,511 | €20,282 | -€18,229 | -47.3% |
| Taxes | 450/3 | €19,937 | €13,106 | -€6,831 | -34.3% |
| Remuneration and social security | 454/9 | €18,574 | €7,176 | -€11,398 | -61.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €161,208 | €131,218 | -€29,990 | -18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,945 | €22,460 | -€13,485 | -37.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €32,063 | +€32,063 | |
| Other operating charges | 640/8 | €1,242 | €898 | -€344 | -27.7% |
| Non-recurring operating charges | 66A | €8,370 | €744 | -€7,626 | -91.1% |
| Gross operating margin | 9900 | €223,343 | €221,797 | -€1,546 | -0.7% |
| Operating profit (loss) | 9901 | €16,577 | €34,413 | +€17,836 | +107.6% |
| Financial income | 75/76B | €477 | €1,401 | +€924 | +193.8% |
| Recurring financial income | 75 | €477 | €1,401 | +€924 | +193.8% |
| Financial charges | 65/66B | €5,826 | €4,295 | -€1,531 | -26.3% |
| Recurring financial charges | 65 | €5,826 | €4,295 | -€1,531 | -26.3% |
| Profit (loss) for the period before taxes | 9903 | €11,227 | €31,519 | +€20,291 | +180.7% |
| Income taxes | 67/77 | €2,313 | €7,309 | +€4,995 | +215.9% |
| Profit (loss) for the period | 9904 | €8,914 | €24,210 | +€15,296 | +171.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,914 | €24,210 | +€15,296 | +171.6% |
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 10 October 2026 via checked.be.