RETAQ: what changed
Two fiscal 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.
RETAQ
Largest movements
- Tangible fixed assets +€96,695
up €96,695 (+946.0%), from €10,222 to €106,917
of which Plant, machinery and equipment: +€99,009
- Financial fixed assets +€25,000
up €25,000 (+100.0%), from €25,000 to €50,000
- Cash -€22,216
down €22,216 (-47.7%), from €46,536 to €24,320
mainly Investment in fixed assets (net) (-€130,602) and Stocks and contracts (-€4,793)
- Stocks and contracts +€4,793
up €4,793 (+9.1%), from €52,746 to €57,539
- Debts after one year +€50,838
up €50,838 (+101.7%), from €50,000 to €100,838
- Trade debts +€29,442
up €29,442 (+45.6%), from €64,603 to €94,045
- Reserves +€18,147
up €18,147 (+1362.2%), from €1,332 to €19,479
- Tax, wage and social debts +€8,116
up €8,116 (+40.5%), from €20,061 to €28,177
of which Remuneration and social security: +€7,463
- Staff costs -€39,983
down €39,983 (-28.7%), from €139,541 to €99,558
- Gross operating margin -€18,144
down €18,144 (-12.0%), from €150,856 to €132,712
- Depreciation +€4,947
up €4,947 (+124.9%), from €3,960 to €8,906
- Financial charges -€2,407
down €2,407 (-45.5%), from €5,288 to €2,881
- Taxes +€2,007
up €2,007 (+178.0%), from €1,127 to €3,135
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.
Cash bridge derived
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 | €140,333 | €245,037 | +€104,704 | +74.6% |
| Fixed assets | 21/28 | €35,222 | €156,917 | +€121,695 | +345.5% |
| Tangible fixed assets | 22/27 | €10,222 | €106,917 | +€96,695 | +946.0% |
| Plant, machinery and equipment | 23 | €1,988 | €100,997 | +€99,009 | +4980.2% |
| Furniture and vehicles | 24 | €8,234 | €5,921 | -€2,313 | -28.1% |
| Financial fixed assets | 28 | €25,000 | €50,000 | +€25,000 | +100.0% |
| Current assets | 29/58 | €105,111 | €88,120 | -€16,991 | -16.2% |
| Stocks and contracts in progress | 3 | €52,746 | €57,539 | +€4,793 | +9.1% |
| Stocks | 30/36 | €52,746 | €57,539 | +€4,793 | +9.1% |
| Amounts receivable within one year | 40/41 | €5,470 | €5,878 | +€408 | +7.5% |
| Trade receivables | 40 | €5,470 | €262 | -€5,208 | -95.2% |
| Other amounts receivable | 41 | - | €5,615 | +€5,615 | |
| Cash at bank and in hand | 54/58 | €46,536 | €24,320 | -€22,216 | -47.7% |
| Deferred charges and accrued income | 490/1 | €359 | €384 | +€25 | +6.8% |
| Total equity and liabilities | 10/49 | €140,333 | €245,037 | +€104,704 | +74.6% |
| Equity | 10/15 | €2,332 | €20,479 | +€18,147 | +778.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,332 | €19,479 | +€18,147 | +1362.2% |
| Distributable reserves | 133 | €1,332 | €19,479 | +€18,147 | +1362.2% |
| Amounts payable | 17/49 | €138,001 | €224,559 | +€86,557 | +62.7% |
| Amounts payable after more than one year | 17 | €50,000 | €100,838 | +€50,838 | +101.7% |
| Financial debts | 170/4 | €50,000 | €100,838 | +€50,838 | +101.7% |
| Amounts payable within one year | 42/48 | €84,664 | €122,221 | +€37,557 | +44.4% |
| Trade debts | 44 | €64,603 | €94,045 | +€29,442 | +45.6% |
| Suppliers | 440/4 | €64,603 | €94,045 | +€29,442 | +45.6% |
| Taxes, remuneration and social security | 45 | €20,061 | €28,177 | +€8,116 | +40.5% |
| Taxes | 450/3 | €13,436 | €14,089 | +€653 | +4.9% |
| Remuneration and social security | 454/9 | €6,625 | €14,088 | +€7,463 | +112.6% |
| Accrued charges and deferred income | 492/3 | €3,338 | €1,500 | -€1,838 | -55.1% |
| Remuneration, social security and pensions | 62 | €139,541 | €99,558 | -€39,983 | -28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,960 | €8,906 | +€4,947 | +124.9% |
| Other operating charges | 640/8 | €834 | €462 | -€372 | -44.6% |
| Gross operating margin | 9900 | €150,856 | €132,712 | -€18,144 | -12.0% |
| Operating profit (loss) | 9901 | €6,522 | €23,786 | +€17,264 | +264.7% |
| Financial income | 75/76B | €1,226 | €377 | -€849 | -69.2% |
| Recurring financial income | 75 | €1,226 | €377 | -€849 | -69.2% |
| Financial charges | 65/66B | €5,288 | €2,881 | -€2,407 | -45.5% |
| Recurring financial charges | 65 | €5,288 | €2,881 | -€2,407 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | €2,460 | €21,281 | +€18,821 | +765.2% |
| Income taxes | 67/77 | €1,127 | €3,135 | +€2,007 | +178.0% |
| Profit (loss) for the period | 9904 | €1,332 | €18,147 | +€16,814 | +1262.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,332 | €18,147 | +€16,814 | +1262.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.