REQ: 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.
REQ
Largest movements
- Cash -€45,627
down €45,627 (-12.9%), from €352,416 to €306,789
mainly Tax, wage and social debts (-€82,297) and Advances received (-€61,978)
- Stocks and contracts -€14,699
down €14,699 (-33.3%), from €44,157 to €29,458
- Receivables within one year +€14,409
up €14,409 (+39.3%), from €36,669 to €51,077
of which Other amounts receivable: +€12,600
- Receivables after one year -€13,536
down €13,536 (-10.4%), from €130,509 to €116,973
- Reserves +€99,333
up €99,333 (+35.6%), from €278,892 to €378,225
- Tax, wage and social debts -€82,297
down €82,297 (-83.8%), from €98,229 to €15,932
of which Taxes: -€80,129
- Advances received -€61,978
down €61,978 (-42.3%), from €146,660 to €84,683
- Trade debts -€14,037
down €14,037 (-60.3%), from €23,264 to €9,227
- Gross operating margin -€11,109
down €11,109 (-7.6%), from €146,109 to €134,999
- Taxes -€5,826
down €5,826 (-12.5%), from €46,758 to €40,932
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 | €566,690 | €505,227 | -€61,463 | -10.8% |
| Fixed assets | 21/28 | €1,086 | €686 | -€401 | -36.9% |
| Tangible fixed assets | 22/27 | €1,086 | €686 | -€401 | -36.9% |
| Plant, machinery and equipment | 23 | €1,086 | €686 | -€401 | -36.9% |
| Current assets | 29/58 | €565,604 | €504,541 | -€61,063 | -10.8% |
| Amounts receivable after more than one year | 29 | €130,509 | €116,973 | -€13,536 | -10.4% |
| Other amounts receivable | 291 | €130,509 | €116,973 | -€13,536 | -10.4% |
| Stocks and contracts in progress | 3 | €44,157 | €29,458 | -€14,699 | -33.3% |
| Stocks | 30/36 | €44,157 | €29,458 | -€14,699 | -33.3% |
| Amounts receivable within one year | 40/41 | €36,669 | €51,077 | +€14,409 | +39.3% |
| Trade receivables | 40 | €21,268 | €23,077 | +€1,809 | +8.5% |
| Other amounts receivable | 41 | €15,401 | €28,001 | +€12,600 | +81.8% |
| Cash at bank and in hand | 54/58 | €352,416 | €306,789 | -€45,627 | -12.9% |
| Deferred charges and accrued income | 490/1 | €1,853 | €243 | -€1,610 | -86.9% |
| Total equity and liabilities | 10/49 | €566,690 | €505,227 | -€61,463 | -10.8% |
| Equity | 10/15 | €294,065 | €390,625 | +€96,560 | +32.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €278,892 | €378,225 | +€99,333 | +35.6% |
| Distributable reserves | 133 | €278,892 | €378,225 | +€99,333 | +35.6% |
| Profit (loss) carried forward | 14 | €2,773 | €0 | -€2,773 | -100% |
| Amounts payable | 17/49 | €272,625 | €114,602 | -€158,023 | -58.0% |
| Amounts payable within one year | 42/48 | €272,625 | €114,425 | -€158,200 | -58.0% |
| Trade debts | 44 | €23,264 | €9,227 | -€14,037 | -60.3% |
| Suppliers | 440/4 | €23,264 | €9,227 | -€14,037 | -60.3% |
| Advances received on contracts in progress | 46 | €146,660 | €84,683 | -€61,978 | -42.3% |
| Taxes, remuneration and social security | 45 | €98,229 | €15,932 | -€82,297 | -83.8% |
| Taxes | 450/3 | €96,061 | €15,932 | -€80,129 | -83.4% |
| Remuneration and social security | 454/9 | €2,168 | €0 | -€2,168 | -100% |
| Other amounts payable | 47/48 | €4,472 | €4,583 | +€111 | +2.5% |
| Accrued charges and deferred income | 492/3 | €0 | €177 | +€177 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115 | €401 | +€285 | +248% |
| Other operating charges | 640/8 | €1,517 | €1,173 | -€344 | -22.6% |
| Gross operating margin | 9900 | €146,109 | €134,999 | -€11,109 | -7.6% |
| Operating profit (loss) | 9901 | €144,477 | €133,426 | -€11,051 | -7.6% |
| Financial income | 75/76B | €5,244 | €6,017 | +€773 | +14.7% |
| Recurring financial income | 75 | €5,244 | €6,017 | +€773 | +14.7% |
| Financial charges | 65/66B | €1,810 | €951 | -€859 | -47.5% |
| Recurring financial charges | 65 | €1,810 | €951 | -€859 | -47.5% |
| Profit (loss) for the period before taxes | 9903 | €147,911 | €138,492 | -€9,419 | -6.4% |
| Income taxes | 67/77 | €46,758 | €40,932 | -€5,826 | -12.5% |
| Profit (loss) for the period | 9904 | €101,152 | €97,560 | -€3,592 | -3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €101,152 | €97,560 | -€3,592 | -3.6% |
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 25 October 2026 via checked.be.