Respiro Invest: 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.
Respiro Invest
Largest movements
- Tangible fixed assets +€2.0m
up €2.0m (+13,147%), from €15,112 to €2.0m
of which Land and buildings: +€2.0m
- Cash -€37,945
down €37,945 (-20.5%), from €185,139 to €147,194
mainly Investment in fixed assets (net) (-€2.1m) and Contributions, distributions and other (-€80,431)
- Debts after one year +€1.8m
up €1.8m (+71,178%), from €2,587 to €1.8m
- Current portion of long-term debt +€69,098
up €69,098 (+298%), from €23,206 to €92,304
- Reserves +€37,258
up €37,258 (+10.4%), from €358,618 to €395,876
- Gross operating margin +€90,401
up €90,401 (+55.1%), from €163,990 to €254,391
- Depreciation +€72,375
up €72,375 (+559%), from €12,953 to €85,328
- Financial income +€49,152
up €49,152 (+4,143%), from €1,186 to €50,339
- Financial charges +€36,093
up €36,093 (+657%), from €5,495 to €41,588
- Other operating charges +€20,111
up €20,111 (+2,599%), from €774 to €20,885
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 | €457,235 | €2,408,377 | +€2.0m | +427% |
| Fixed assets | 21/28 | €209,112 | €2,195,784 | +€2.0m | +950% |
| Tangible fixed assets | 22/27 | €15,112 | €2,001,784 | +€2.0m | +13,147% |
| Land and buildings | 22 | - | €1,999,625 | +€2.0m | |
| Furniture and vehicles | 24 | €15,112 | €2,159 | -€12,953 | -85.7% |
| Financial fixed assets | 28 | €194,000 | €194,000 | = | 0.0% |
| Current assets | 29/58 | €248,124 | €212,593 | -€35,531 | -14.3% |
| Amounts receivable within one year | 40/41 | €8,727 | €8,069 | -€658 | -7.5% |
| Trade receivables | 40 | €658 | - | -€658 | |
| Other amounts receivable | 41 | €8,069 | €8,069 | = | 0.0% |
| Current investments | 50/53 | €37,725 | €37,725 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €185,139 | €147,194 | -€37,945 | -20.5% |
| Deferred charges and accrued income | 490/1 | €16,534 | €19,605 | +€3,071 | +18.6% |
| Total equity and liabilities | 10/49 | €457,235 | €2,408,377 | +€2.0m | +427% |
| Equity | 10/15 | €371,018 | €408,276 | +€37,258 | +10.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €358,618 | €395,876 | +€37,258 | +10.4% |
| Distributable reserves | 133 | €358,618 | €395,876 | +€37,258 | +10.4% |
| Amounts payable | 17/49 | €86,218 | €2,000,101 | +€1.9m | +2,220% |
| Amounts payable after more than one year | 17 | €2,587 | €1,843,937 | +€1.8m | +71,178% |
| Financial debts | 170/4 | €2,587 | €1,843,937 | +€1.8m | +71,178% |
| Amounts payable within one year | 42/48 | €83,586 | €156,164 | +€72,578 | +86.8% |
| Current portion of amounts payable after more than one year | 42 | €23,206 | €92,304 | +€69,098 | +298% |
| Trade debts | 44 | - | €898 | +€898 | |
| Suppliers | 440/4 | - | €898 | +€898 | |
| Taxes, remuneration and social security | 45 | €35,642 | €35,720 | +€78 | +0.2% |
| Taxes | 450/3 | €35,171 | €35,720 | +€548 | +1.6% |
| Remuneration and social security | 454/9 | €471 | - | -€471 | |
| Other amounts payable | 47/48 | €24,738 | €27,242 | +€2,504 | +10.1% |
| Accrued charges and deferred income | 492/3 | €45 | - | -€45 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,953 | €85,328 | +€72,375 | +559% |
| Other operating charges | 640/8 | €774 | €20,885 | +€20,111 | +2,599% |
| Gross operating margin | 9900 | €163,990 | €254,391 | +€90,401 | +55.1% |
| Operating profit (loss) | 9901 | €150,263 | €148,178 | -€2,085 | -1.4% |
| Financial income | 75/76B | €1,186 | €50,339 | +€49,152 | +4,143% |
| Recurring financial income | 75 | €1,186 | €50,339 | +€49,152 | +4,143% |
| Financial charges | 65/66B | €5,495 | €41,588 | +€36,093 | +657% |
| Recurring financial charges | 65 | €5,495 | €41,588 | +€36,093 | +657% |
| Profit (loss) for the period before taxes | 9903 | €145,955 | €156,930 | +€10,975 | +7.5% |
| Income taxes | 67/77 | €47,887 | €39,241 | -€8,646 | -18.1% |
| Profit (loss) for the period | 9904 | €98,068 | €117,689 | +€19,621 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €98,068 | €117,689 | +€19,621 | +20.0% |
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 31 October 2026 via checked.be.