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 +€17,411
up €17,411 (+14.8%), from €117,742 to €135,153
mainly Net result for the year (+€62,040) and Depreciation (+€13,835)
- Tangible fixed assets -€13,084
down €13,084 (-5.9%), from €222,501 to €209,417
of which Land and buildings: -€12,519
- Receivables within one year +€3,987
up €3,987 (+183%), from €2,178 to €6,165
of which Other amounts receivable: +€3,966
- Reserves +€62,040
up €62,040 (+30.5%), from €203,386 to €265,427
- Other debts -€49,281
down €49,281 (-86.7%), from €56,868 to €7,587
- Trade debts -€8,526
down €8,526 (-83.8%), from €10,174 to €1,648
- Tax, wage and social debts +€4,474
up €4,474 (+7.2%), from €61,715 to €66,189
of which Taxes: +€11,382
- Gross operating margin -€104,751
down €104,751 (-49.6%), from €211,308 to €106,557
- Staff costs -€30,514
down €30,514 (-85.3%), from €35,762 to €5,248
- Taxes -€20,996
down €20,996 (-46.5%), from €45,175 to €24,178
- Depreciation -€2,887
down €2,887 (-17.3%), from €16,722 to €13,835
- Financial charges -€2,289
down €2,289 (-96.6%), from €2,370 to €81
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 | €344,134 | €351,697 | +€7,563 | +2.2% |
| Fixed assets | 21/28 | €224,215 | €210,380 | -€13,835 | -6.2% |
| Intangible fixed assets | 21 | €1,714 | €962 | -€751 | -43.8% |
| Tangible fixed assets | 22/27 | €222,501 | €209,417 | -€13,084 | -5.9% |
| Land and buildings | 22 | €220,855 | €208,337 | -€12,519 | -5.7% |
| Furniture and vehicles | 24 | €1,646 | €1,081 | -€565 | -34.3% |
| Current assets | 29/58 | €119,920 | €141,318 | +€21,398 | +17.8% |
| Amounts receivable within one year | 40/41 | €2,178 | €6,165 | +€3,987 | +183% |
| Trade receivables | 40 | €2,178 | €2,199 | +€21 | +0.9% |
| Other amounts receivable | 41 | - | €3,966 | +€3,966 | |
| Cash at bank and in hand | 54/58 | €117,742 | €135,153 | +€17,411 | +14.8% |
| Total equity and liabilities | 10/49 | €344,134 | €351,697 | +€7,563 | +2.2% |
| Equity | 10/15 | €213,386 | €275,427 | +€62,040 | +29.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €203,386 | €265,427 | +€62,040 | +30.5% |
| Distributable reserves | 133 | €203,386 | €265,427 | +€62,040 | +30.5% |
| Amounts payable | 17/49 | €130,748 | €76,271 | -€54,478 | -41.7% |
| Amounts payable within one year | 42/48 | €128,757 | €75,424 | -€53,334 | -41.4% |
| Trade debts | 44 | €10,174 | €1,648 | -€8,526 | -83.8% |
| Suppliers | 440/4 | €10,174 | €1,648 | -€8,526 | -83.8% |
| Taxes, remuneration and social security | 45 | €61,715 | €66,189 | +€4,474 | +7.2% |
| Taxes | 450/3 | €50,478 | €61,860 | +€11,382 | +22.5% |
| Remuneration and social security | 454/9 | €11,237 | €4,329 | -€6,908 | -61.5% |
| Other amounts payable | 47/48 | €56,868 | €7,587 | -€49,281 | -86.7% |
| Accrued charges and deferred income | 492/3 | €1,991 | €847 | -€1,144 | -57.5% |
| Remuneration, social security and pensions | 62 | €35,762 | €5,248 | -€30,514 | -85.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,722 | €13,835 | -€2,887 | -17.3% |
| Other operating charges | 640/8 | €1,086 | €1,175 | +€88 | +8.1% |
| Gross operating margin | 9900 | €211,308 | €106,557 | -€104,751 | -49.6% |
| Operating profit (loss) | 9901 | €157,738 | €86,300 | -€71,439 | -45.3% |
| Financial income | 75/76B | €41 | - | -€41 | |
| Recurring financial income | 75 | €41 | - | -€41 | |
| Financial charges | 65/66B | €2,370 | €81 | -€2,289 | -96.6% |
| Recurring financial charges | 65 | €2,370 | €81 | -€2,289 | -96.6% |
| Profit (loss) for the period before taxes | 9903 | €155,410 | €86,219 | -€69,191 | -44.5% |
| Income taxes | 67/77 | €45,175 | €24,178 | -€20,996 | -46.5% |
| Profit (loss) for the period | 9904 | €110,235 | €62,040 | -€48,194 | -43.7% |
| Profit (loss) for the period to be appropriated | 9905 | €110,235 | €62,040 | -€48,194 | -43.7% |
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 21 October 2026 via checked.be.