RES: 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.
RES
Largest movements
- Cash -€329,612
down €329,612 (-80.9%), from €407,414 to €77,803
mainly Trade debts (-€242,731) and Debts after one year (-€55,000)
- Receivables within one year +€17,284
up €17,284 (+2.8%), from €616,079 to €633,362
of which Trade receivables: +€23,790
- Trade debts -€242,731
down €242,731 (-72.4%), from €335,239 to €92,508
- Debts after one year -€55,000
down €55,000 (-10.1%), from €545,000 to €490,000
- Advances received -€17,822
down €17,822 (-26.6%), from €66,887 to €49,065
- Gross operating margin -€21,477
down €21,477 (-45.6%), from €47,091 to €25,614
- Other operating charges -€6,684
down €6,684 (-46.1%), from €14,496 to €7,812
- Taxes -€2,083
down €2,083 (-19.0%), from €10,977 to €8,894
- Financial charges -€762
down €762 (-49.2%), from €1,548 to €786
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 | €1,030,796 | €715,186 | -€315,610 | -30.6% |
| Fixed assets | 21/28 | €7,303 | €4,021 | -€3,282 | -44.9% |
| Tangible fixed assets | 22/27 | €7,253 | €3,971 | -€3,282 | -45.3% |
| Plant, machinery and equipment | 23 | €4,973 | €2,451 | -€2,522 | -50.7% |
| Furniture and vehicles | 24 | €2,280 | €1,520 | -€760 | -33.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €1,023,493 | €711,165 | -€312,328 | -30.5% |
| Amounts receivable within one year | 40/41 | €616,079 | €633,362 | +€17,284 | +2.8% |
| Trade receivables | 40 | €609,572 | €633,362 | +€23,790 | +3.9% |
| Other amounts receivable | 41 | €6,507 | - | -€6,507 | |
| Cash at bank and in hand | 54/58 | €407,414 | €77,803 | -€329,612 | -80.9% |
| Total equity and liabilities | 10/49 | €1,030,796 | €715,186 | -€315,610 | -30.6% |
| Equity | 10/15 | €61,885 | €66,724 | +€4,840 | +7.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,434 | €46,273 | +€4,840 | +11.7% |
| Amounts payable | 17/49 | €968,912 | €648,462 | -€320,450 | -33.1% |
| Amounts payable after more than one year | 17 | €545,000 | €490,000 | -€55,000 | -10.1% |
| Other amounts payable | 178/9 | €545,000 | €490,000 | -€55,000 | -10.1% |
| Amounts payable within one year | 42/48 | €423,912 | €158,462 | -€265,450 | -62.6% |
| Trade debts | 44 | €335,239 | €92,508 | -€242,731 | -72.4% |
| Suppliers | 440/4 | €335,239 | €92,508 | -€242,731 | -72.4% |
| Advances received on contracts in progress | 46 | €66,887 | €49,065 | -€17,822 | -26.6% |
| Taxes, remuneration and social security | 45 | €21,252 | €16,018 | -€5,234 | -24.6% |
| Taxes | 450/3 | €19,041 | €14,384 | -€4,656 | -24.5% |
| Remuneration and social security | 454/9 | €2,211 | €1,634 | -€578 | -26.1% |
| Other amounts payable | 47/48 | €533 | €870 | +€337 | +63.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,665 | €3,282 | -€383 | -10.4% |
| Other operating charges | 640/8 | €14,496 | €7,812 | -€6,684 | -46.1% |
| Gross operating margin | 9900 | €47,091 | €25,614 | -€21,477 | -45.6% |
| Operating profit (loss) | 9901 | €28,930 | €14,520 | -€14,410 | -49.8% |
| Financial charges | 65/66B | €1,548 | €786 | -€762 | -49.2% |
| Recurring financial charges | 65 | €1,548 | €786 | -€762 | -49.2% |
| Profit (loss) for the period before taxes | 9903 | €27,382 | €13,733 | -€13,648 | -49.8% |
| Income taxes | 67/77 | €10,977 | €8,894 | -€2,083 | -19.0% |
| Profit (loss) for the period | 9904 | €16,404 | €4,840 | -€11,565 | -70.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,404 | €4,840 | -€11,565 | -70.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.