RESEA: 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.
RESEA
Largest movements
- Cash -€107,110
down €107,110 (-91.2%), from €117,385 to €10,275
mainly Investment in fixed assets (net) (-€156,313) and Trade debts (-€109,175)
- Receivables within one year +€23,907
up €23,907 (+14.9%), from €160,725 to €184,632
of which Trade receivables: +€49,379
- Trade debts -€109,175
down €109,175 (-35.9%), from €304,053 to €194,878
- Reserves +€81,439
up €81,439 (+23.3%), from €349,882 to €431,320
of which Distributable reserves: +€81,439
- Debts after one year -€27,500
down €27,500 (-100%), from €27,500 to €0
- Accrued charges and deferred income +€26,817
up €26,817 (+54.5%), from €49,206 to €76,023
- Current portion of long-term debt -€26,072
down €26,072 (-48.7%), from €53,571 to €27,500
- Staff costs -€49,476
down €49,476 (-18.3%), from €270,840 to €221,365
- Depreciation +€40,507
up €40,507 (+39.5%), from €102,432 to €142,940
- Gross operating margin -€22,938
down €22,938 (-4.2%), from €548,580 to €525,643
- Taxes -€9,439
down €9,439 (-18.5%), from €50,894 to €41,455
- Financial charges +€7,500
up €7,500 (+36.0%), from €20,832 to €28,332
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,359,412 | €1,280,725 | -€78,687 | -5.8% |
| Fixed assets | 21/28 | €1,072,444 | €1,085,817 | +€13,374 | +1.2% |
| Tangible fixed assets | 22/27 | €1,072,369 | €1,085,742 | +€13,374 | +1.2% |
| Land and buildings | 22 | €716,406 | €717,137 | +€731 | +0.1% |
| Plant, machinery and equipment | 23 | €18,852 | €40,262 | +€21,410 | +114% |
| Furniture and vehicles | 24 | €337,111 | €328,343 | -€8,768 | -2.6% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €286,969 | €194,908 | -€92,061 | -32.1% |
| Amounts receivable within one year | 40/41 | €160,725 | €184,632 | +€23,907 | +14.9% |
| Trade receivables | 40 | €133,766 | €183,145 | +€49,379 | +36.9% |
| Other amounts receivable | 41 | €26,959 | €1,488 | -€25,471 | -94.5% |
| Cash at bank and in hand | 54/58 | €117,385 | €10,275 | -€107,110 | -91.2% |
| Deferred charges and accrued income | 490/1 | €8,858 | €0 | -€8,858 | -100% |
| Total equity and liabilities | 10/49 | €1,359,412 | €1,280,725 | -€78,687 | -5.8% |
| Equity | 10/15 | €449,427 | €530,478 | +€81,050 | +18.0% |
| Contributions | 10/11 | €99,157 | €99,157 | = | 0.0% |
| Capital | 10 | €99,157 | €99,157 | = | 0.0% |
| Issued capital | 100 | €99,157 | €99,157 | = | 0.0% |
| Reserves | 13 | €349,882 | €431,320 | +€81,439 | +23.3% |
| Non-distributable reserves | 130/1 | €9,916 | €9,916 | = | 0.0% |
| Legal reserve | 130 | €9,916 | €9,916 | = | 0.0% |
| Distributable reserves | 133 | €339,966 | €421,405 | +€81,439 | +24.0% |
| Profit (loss) carried forward | 14 | €388 | €0 | -€388 | -100% |
| Amounts payable | 17/49 | €909,985 | €750,247 | -€159,738 | -17.6% |
| Amounts payable after more than one year | 17 | €27,500 | €0 | -€27,500 | -100% |
| Financial debts | 170/4 | €27,500 | €0 | -€27,500 | -100% |
| Amounts payable within one year | 42/48 | €833,279 | €674,224 | -€159,055 | -19.1% |
| Current portion of amounts payable after more than one year | 42 | €53,571 | €27,500 | -€26,072 | -48.7% |
| Trade debts | 44 | €304,053 | €194,878 | -€109,175 | -35.9% |
| Suppliers | 440/4 | €304,053 | €194,878 | -€109,175 | -35.9% |
| Taxes, remuneration and social security | 45 | €65,947 | €54,675 | -€11,271 | -17.1% |
| Taxes | 450/3 | €35,041 | €22,849 | -€12,192 | -34.8% |
| Remuneration and social security | 454/9 | €30,906 | €31,827 | +€921 | +3.0% |
| Other amounts payable | 47/48 | €409,708 | €397,171 | -€12,536 | -3.1% |
| Accrued charges and deferred income | 492/3 | €49,206 | €76,023 | +€26,817 | +54.5% |
| Remuneration, social security and pensions | 62 | €270,840 | €221,365 | -€49,476 | -18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,432 | €142,940 | +€40,507 | +39.5% |
| Other operating charges | 640/8 | €7,405 | €8,130 | +€724 | +9.8% |
| Non-recurring operating charges | 66A | - | €2,371 | +€2,371 | |
| Gross operating margin | 9900 | €548,580 | €525,643 | -€22,938 | -4.2% |
| Operating profit (loss) | 9901 | €167,902 | €150,837 | -€17,065 | -10.2% |
| Financial income | 75/76B | €4 | €0 | -€4 | -99.3% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -99.3% |
| Financial charges | 65/66B | €20,832 | €28,332 | +€7,500 | +36.0% |
| Recurring financial charges | 65 | €20,832 | €28,332 | +€7,500 | +36.0% |
| Profit (loss) for the period before taxes | 9903 | €147,074 | €122,505 | -€24,569 | -16.7% |
| Income taxes | 67/77 | €50,894 | €41,455 | -€9,439 | -18.5% |
| Profit (loss) for the period | 9904 | €96,180 | €81,050 | -€15,130 | -15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €96,180 | €81,050 | -€15,130 | -15.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.