REPAM: 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.
What changed
REPAM
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€3,137
2024 · -€1,339-€1,798
Equity
€194,735
2024 · €197,871-€3,137
Cash
€2,635
2024 · €475+€2,160
Balance sheet total
€1.1m
2024 · €1.1m-€46,957
Largest movements
Assets
- Tangible fixed assets -€49,117
down €49,117 (-10.2%), from €482,509 to €433,392
Equity and liabilities
- Debts after one year -€44,925
down €44,925 (-5.6%), from €799,754 to €754,829
of which Financial debts: -€38,925
Income statement
- Gross operating margin -€2,221
down €2,221 (-2.5%), from €90,350 to €88,128
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.
Result 2024
-€1,339
Gross operating margin
-€2,221
Other operating charges
-€639
Financial charges
+€826
Taxes
+€237
Result 2025
-€3,137
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.
From operations
+€44,563
Investment
€0
Financing
-€42,403
Cash 2024
€475
From operations (derived)
+€44,563
Net result for the year
-€3,137
Depreciation
+€49,117
Provisions
-€504
Trade debts
+€8,225
Tax, wage and social debts
-€7,917
Other debts
-€1,222
Financing
-€42,403
Debts after one year
-€44,925
Current portion of long-term debt
+€2,521
Cash 2025
€2,635
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,142,335 | €1,095,378 | -€46,957 | -4.1% |
| Fixed assets | 21/28 | €1,141,860 | €1,092,744 | -€49,117 | -4.3% |
| Tangible fixed assets | 22/27 | €482,509 | €433,392 | -€49,117 | -10.2% |
| Land and buildings | 22 | €482,509 | €433,392 | -€49,117 | -10.2% |
| Financial fixed assets | 28 | €659,352 | €659,352 | = | 0.0% |
| Current assets | 29/58 | €475 | €2,635 | +€2,160 | +454.9% |
| Cash at bank and in hand | 54/58 | €475 | €2,635 | +€2,160 | +454.9% |
| Total equity and liabilities | 10/49 | €1,142,335 | €1,095,378 | -€46,957 | -4.1% |
| Equity | 10/15 | €197,871 | €194,735 | -€3,137 | -1.6% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €47,871 | €44,735 | -€3,137 | -6.6% |
| Tax-exempt reserves | 132 | €29,472 | €27,508 | -€1,965 | -6.7% |
| Distributable reserves | 133 | €18,399 | €17,227 | -€1,172 | -6.4% |
| Provisions and deferred taxes | 16 | €7,553 | €7,050 | -€504 | -6.7% |
| Deferred taxes | 168 | €7,553 | €7,050 | -€504 | -6.7% |
| Amounts payable | 17/49 | €936,911 | €893,594 | -€43,317 | -4.6% |
| Amounts payable after more than one year | 17 | €799,754 | €754,829 | -€44,925 | -5.6% |
| Financial debts | 170/4 | €764,754 | €725,829 | -€38,925 | -5.1% |
| Other amounts payable | 178/9 | €35,000 | €29,000 | -€6,000 | -17.1% |
| Amounts payable within one year | 42/48 | €137,157 | €138,765 | +€1,608 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €38,526 | €41,048 | +€2,521 | +6.5% |
| Trade debts | 44 | €15,221 | €23,446 | +€8,225 | +54.0% |
| Suppliers | 440/4 | €15,221 | €23,446 | +€8,225 | +54.0% |
| Taxes, remuneration and social security | 45 | €12,253 | €4,337 | -€7,917 | -64.6% |
| Taxes | 450/3 | €2,542 | €2,337 | -€206 | -8.1% |
| Remuneration and social security | 454/9 | €9,711 | €2,000 | -€7,711 | -79.4% |
| Other amounts payable | 47/48 | €71,156 | €69,934 | -€1,222 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,117 | €49,117 | = | 0.0% |
| Other operating charges | 640/8 | €12,626 | €13,264 | +€639 | +5.1% |
| Gross operating margin | 9900 | €90,350 | €88,128 | -€2,221 | -2.5% |
| Operating profit (loss) | 9901 | €28,607 | €25,747 | -€2,860 | -10.0% |
| Financial charges | 65/66B | €30,213 | €29,388 | -€826 | -2.7% |
| Recurring financial charges | 65 | €30,213 | €29,388 | -€826 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,606 | -€3,640 | -€2,034 | -126.7% |
| Transfer from deferred taxes | 780 | €504 | €504 | = | 0.0% |
| Income taxes | 67/77 | €237 | €0 | -€237 | -100.0% |
| Profit (loss) for the period | 9904 | -€1,339 | -€3,137 | -€1,798 | -134.3% |
| Transfer from tax-exempt reserves | 789 | €1,965 | €1,965 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €626 | -€1,172 | -€1,798 |
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 1 October 2026 via checked.be.