RESIFRED: 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.
RESIFRED
Largest movements
- Receivables within one year -€85,949
down €85,949 (-39.3%), from €218,820 to €132,871
of which Other amounts receivable: -€118,690
- Tangible fixed assets -€5,699
down €5,699 (-11.6%), from €49,227 to €43,527
of which Land and buildings: -€2,940
- Other debts -€120,107
no longer reported in 2025 (was €120,107)
- Reserves +€23,511
up €23,511 (+112%), from €21,036 to €44,547
- Trade debts +€20,158
up €20,158 (+59.7%), from €33,746 to €53,904
- Tax, wage and social debts -€9,227
down €9,227 (-79.7%), from €11,578 to €2,351
of which Taxes: -€5,887
- Debts after one year -€5,474
down €5,474 (-10.9%), from €50,339 to €44,866
- Write-downs -€16,171
down €16,171, from €3,481 to -€12,690
- Gross operating margin -€5,534
down €5,534 (-10.8%), from €51,152 to €45,618
- Financial income -€3,907
down €3,907 (-38.8%), from €10,076 to €6,169
- Other operating charges +€3,533
up €3,533 (+36.9%), from €9,570 to €13,103
- Financial charges +€1,726
up €1,726 (+22.6%), from €7,642 to €9,368
of which Non-recurring financial charges: +€1,338
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €269,858 | €177,563 | -€92,296 | -34.2% |
| Fixed assets | 21/28 | €49,227 | €43,527 | -€5,699 | -11.6% |
| Tangible fixed assets | 22/27 | €49,227 | €43,527 | -€5,699 | -11.6% |
| Land and buildings | 22 | €44,755 | €41,815 | -€2,940 | -6.6% |
| Plant, machinery and equipment | 23 | €1,046 | €659 | -€387 | -37.0% |
| Furniture and vehicles | 24 | €3,425 | €1,052 | -€2,372 | -69.3% |
| Current assets | 29/58 | €220,632 | €134,036 | -€86,596 | -39.2% |
| Amounts receivable within one year | 40/41 | €218,820 | €132,871 | -€85,949 | -39.3% |
| Trade receivables | 40 | €31,902 | €64,643 | +€32,740 | +103% |
| Other amounts receivable | 41 | €186,918 | €68,229 | -€118,690 | -63.5% |
| Deferred charges and accrued income | 490/1 | €1,812 | €1,165 | -€647 | -35.7% |
| Total equity and liabilities | 10/49 | €269,858 | €177,563 | -€92,296 | -34.2% |
| Equity | 10/15 | €27,236 | €50,747 | +€23,511 | +86.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €21,036 | €44,547 | +€23,511 | +112% |
| Distributable reserves | 133 | €21,036 | €44,547 | +€23,511 | +112% |
| Amounts payable | 17/49 | €242,623 | €126,816 | -€115,807 | -47.7% |
| Amounts payable after more than one year | 17 | €50,339 | €44,866 | -€5,474 | -10.9% |
| Financial debts | 170/4 | €50,339 | €44,866 | -€5,474 | -10.9% |
| Amounts payable within one year | 42/48 | €191,722 | €81,951 | -€109,771 | -57.3% |
| Current portion of amounts payable after more than one year | 42 | €20,332 | €20,474 | +€142 | +0.7% |
| Financial debts | 43 | €5,958 | €5,221 | -€737 | -12.4% |
| Credit institutions | 430/8 | €5,958 | €5,221 | -€737 | -12.4% |
| Trade debts | 44 | €33,746 | €53,904 | +€20,158 | +59.7% |
| Suppliers | 440/4 | €33,746 | €53,904 | +€20,158 | +59.7% |
| Taxes, remuneration and social security | 45 | €11,578 | €2,351 | -€9,227 | -79.7% |
| Taxes | 450/3 | €8,238 | €2,351 | -€5,887 | -71.5% |
| Remuneration and social security | 454/9 | €3,340 | - | -€3,340 | |
| Other amounts payable | 47/48 | €120,107 | - | -€120,107 | |
| Accrued charges and deferred income | 492/3 | €561 | - | -€561 | |
| Non-recurring operating income | 76A | €5,662 | - | -€5,662 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,352 | €3,842 | -€510 | -11.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,481 | -€12,690 | -€16,171 | |
| Other operating charges | 640/8 | €9,570 | €13,103 | +€3,533 | +36.9% |
| Non-recurring operating charges | 66A | €2,231 | €1,357 | -€874 | -39.2% |
| Gross operating margin | 9900 | €51,152 | €45,618 | -€5,534 | -10.8% |
| Operating profit (loss) | 9901 | €31,518 | €40,005 | +€8,488 | +26.9% |
| Financial income | 75/76B | €10,076 | €6,169 | -€3,907 | -38.8% |
| Recurring financial income | 75 | €10,076 | €6,169 | -€3,907 | -38.8% |
| Financial charges | 65/66B | €7,642 | €9,368 | +€1,726 | +22.6% |
| Recurring financial charges | 65 | €5,366 | €5,754 | +€388 | +7.2% |
| Non-recurring financial charges | 66B | €2,276 | €3,614 | +€1,338 | +58.8% |
| Profit (loss) for the period before taxes | 9903 | €33,952 | €36,806 | +€2,855 | +8.4% |
| Income taxes | 67/77 | €12,291 | €13,296 | +€1,004 | +8.2% |
| Profit (loss) for the period | 9904 | €21,660 | €23,511 | +€1,851 | +8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,660 | €23,511 | +€1,851 | +8.5% |
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 16 October 2026 via checked.be.