REOR: what changed
Two fiscal 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.
REOR
Largest movements
- Tangible fixed assets -€1,462
down €1,462 (-40.8%), from €3,584 to €2,123
of which Furniture and vehicles: -€1,260
- Receivables within one year +€1,186
up €1,186 (+21.4%), from €5,553 to €6,739
of which Trade receivables: +€779
- Cash -€593
down €593 (-92.8%), from €639 to €46
mainly Receivables within one year (-€1,186) and Current portion of long-term debt (-€620)
- Current portion of long-term debt -€620
no longer reported in 2025 (was €620)
- Short-term financial debts -€324
down €324 (-48.9%), from €663 to €339
- Profit (loss) carried forward +€110
up €110 (+5.9%), from €1,862 to €1,972
- Gross operating margin -€5,062
down €5,062 (-70.2%), from €7,210 to €2,148
- Depreciation +€145
up €145 (+11.0%), from €1,317 to €1,462
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 | €10,199 | €9,294 | -€905 | -8.9% |
| Fixed assets | 21/28 | €3,584 | €2,123 | -€1,462 | -40.8% |
| Tangible fixed assets | 22/27 | €3,584 | €2,123 | -€1,462 | -40.8% |
| Plant, machinery and equipment | 23 | €258 | €56 | -€201 | -78.2% |
| Furniture and vehicles | 24 | €3,327 | €2,066 | -€1,260 | -37.9% |
| Current assets | 29/58 | €6,614 | €7,171 | +€557 | +8.4% |
| Amounts receivable within one year | 40/41 | €5,553 | €6,739 | +€1,186 | +21.4% |
| Trade receivables | 40 | €3,382 | €4,161 | +€779 | +23.0% |
| Other amounts receivable | 41 | €2,171 | €2,578 | +€407 | +18.7% |
| Cash at bank and in hand | 54/58 | €639 | €46 | -€593 | -92.8% |
| Deferred charges and accrued income | 490/1 | €422 | €386 | -€36 | -8.6% |
| Total equity and liabilities | 10/49 | €10,199 | €9,294 | -€905 | -8.9% |
| Equity | 10/15 | €8,571 | €8,681 | +€110 | +1.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €509 | €509 | = | 0.0% |
| Non-distributable reserves | 130/1 | €509 | €509 | = | 0.0% |
| Reserves not available under the articles | 1311 | €509 | €509 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,862 | €1,972 | +€110 | +5.9% |
| Amounts payable | 17/49 | €1,628 | €613 | -€1,015 | -62.3% |
| Amounts payable within one year | 42/48 | €1,628 | €613 | -€1,015 | -62.3% |
| Current portion of amounts payable after more than one year | 42 | €620 | - | -€620 | |
| Financial debts | 43 | €663 | €339 | -€324 | -48.9% |
| Credit institutions | 430/8 | €663 | €339 | -€324 | -48.9% |
| Trade debts | 44 | €345 | €274 | -€71 | -20.5% |
| Suppliers | 440/4 | €345 | €274 | -€71 | -20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,317 | €1,462 | +€145 | +11.0% |
| Other operating charges | 640/8 | €275 | €277 | +€2 | +0.7% |
| Gross operating margin | 9900 | €7,210 | €2,148 | -€5,062 | -70.2% |
| Operating profit (loss) | 9901 | €5,618 | €409 | -€5,209 | -92.7% |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €277 | €299 | +€22 | +8.0% |
| Recurring financial charges | 65 | €277 | €299 | +€22 | +8.0% |
| Profit (loss) for the period before taxes | 9903 | €5,352 | €110 | -€5,241 | -97.9% |
| Profit (loss) for the period | 9904 | €5,352 | €110 | -€5,241 | -97.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,352 | €110 | -€5,241 | -97.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.