REON: 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.
REON
Largest movements
- Cash +€272,338
up €272,338 (+489%), from €55,696 to €328,034
mainly Net result for the year (+€189,816) and Other debts (+€132,467)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets -€60,884
down €60,884 (-5.3%), from €1.2m to €1.1m
of which Land and buildings: -€58,961
- Other debts +€132,467
up €132,467 (+153%), from €86,439 to €218,906
- Reserves -€26,985
down €26,985 (-3.7%), from €738,724 to €711,738
of which Distributable reserves: -€24,559
- Gross operating margin +€157,095
up €157,095 (+64.2%), from €244,515 to €401,609
- Taxes +€45,122
up €45,122 (+101%), from €44,571 to €89,693
- Other operating charges +€9,571
up €9,571 (+34.9%), from €27,462 to €37,033
- Depreciation +€7,035
up €7,035 (+8.8%), from €80,314 to €87,350
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 | €1,338,893 | €1,448,156 | +€109,263 | +8.2% |
| Fixed assets | 21/28 | €1,156,491 | €1,095,607 | -€60,884 | -5.3% |
| Tangible fixed assets | 22/27 | €1,156,491 | €1,095,607 | -€60,884 | -5.3% |
| Land and buildings | 22 | €1,096,688 | €1,037,728 | -€58,961 | -5.4% |
| Plant, machinery and equipment | 23 | €38,741 | €20,865 | -€17,876 | -46.1% |
| Furniture and vehicles | 24 | €21,062 | €37,015 | +€15,953 | +75.7% |
| Current assets | 29/58 | €182,402 | €352,549 | +€170,147 | +93.3% |
| Amounts receivable within one year | 40/41 | €15,063 | €9,655 | -€5,407 | -35.9% |
| Trade receivables | 40 | €10,834 | €8,858 | -€1,976 | -18.2% |
| Other amounts receivable | 41 | €4,229 | €797 | -€3,432 | -81.2% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €55,696 | €328,034 | +€272,338 | +489% |
| Deferred charges and accrued income | 490/1 | €11,643 | €14,859 | +€3,217 | +27.6% |
| Total equity and liabilities | 10/49 | €1,338,893 | €1,448,156 | +€109,263 | +8.2% |
| Equity | 10/15 | €1,217,158 | €1,190,173 | -€26,985 | -2.2% |
| Contributions | 10/11 | €478,435 | €478,435 | = | 0.0% |
| Reserves | 13 | €738,724 | €711,738 | -€26,985 | -3.7% |
| Tax-exempt reserves | 132 | €31,007 | €28,581 | -€2,426 | -7.8% |
| Distributable reserves | 133 | €707,717 | €683,158 | -€24,559 | -3.5% |
| Provisions and deferred taxes | 16 | €10,336 | €9,527 | -€809 | -7.8% |
| Deferred taxes | 168 | €10,336 | €9,527 | -€809 | -7.8% |
| Amounts payable | 17/49 | €111,399 | €248,457 | +€137,057 | +123% |
| Amounts payable within one year | 42/48 | €111,399 | €248,457 | +€137,057 | +123% |
| Trade debts | 44 | €17,086 | €10,441 | -€6,645 | -38.9% |
| Suppliers | 440/4 | €17,086 | €10,441 | -€6,645 | -38.9% |
| Taxes, remuneration and social security | 45 | €7,874 | €19,110 | +€11,236 | +143% |
| Taxes | 450/3 | €7,874 | €19,110 | +€11,236 | +143% |
| Other amounts payable | 47/48 | €86,439 | €218,906 | +€132,467 | +153% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,314 | €87,350 | +€7,035 | +8.8% |
| Other operating charges | 640/8 | €27,462 | €37,033 | +€9,571 | +34.9% |
| Non-recurring operating charges | 66A | €575 | - | -€575 | |
| Gross operating margin | 9900 | €244,515 | €401,609 | +€157,095 | +64.2% |
| Operating profit (loss) | 9901 | €136,163 | €277,227 | +€141,064 | +104% |
| Financial income | 75/76B | €0 | €1,806 | +€1,806 | +18,062,200% |
| Recurring financial income | 75 | €0 | €1,806 | +€1,806 | +18,062,200% |
| Financial charges | 65/66B | €339 | €333 | -€5 | -1.6% |
| Recurring financial charges | 65 | €339 | €333 | -€5 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €135,825 | €278,700 | +€142,875 | +105% |
| Transfer from deferred taxes | 780 | €809 | €809 | -€0 | 0.0% |
| Income taxes | 67/77 | €44,571 | €89,693 | +€45,122 | +101% |
| Profit (loss) for the period | 9904 | €92,063 | €189,816 | +€97,753 | +106% |
| Transfer from tax-exempt reserves | 789 | €2,426 | €2,426 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €94,489 | €192,242 | +€97,753 | +103% |
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 17 October 2026 via checked.be.