RETHCA: 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.
RETHCA
Largest movements
- Tangible fixed assets +€12,432
up €12,432 (+2.5%), from €503,151 to €515,582
of which Land and buildings: +€14,861
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€1,646
up €1,646 (+7.6%), from €21,575 to €23,221
- Depreciation +€818
up €818 (+5.4%), from €15,028 to €15,846
- Financial income -€338
down €338 (-45.4%), from €743 to €405
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 | €577,519 | €582,533 | +€5,014 | +0.9% |
| Fixed assets | 21/28 | €503,151 | €515,582 | +€12,432 | +2.5% |
| Tangible fixed assets | 22/27 | €503,151 | €515,582 | +€12,432 | +2.5% |
| Land and buildings | 22 | €486,036 | €500,897 | +€14,861 | +3.1% |
| Plant, machinery and equipment | 23 | €17,115 | €14,685 | -€2,429 | -14.2% |
| Current assets | 29/58 | €74,369 | €66,951 | -€7,418 | -10.0% |
| Amounts receivable within one year | 40/41 | €10,629 | €8,756 | -€1,872 | -17.6% |
| Trade receivables | 40 | - | €223 | +€223 | |
| Other amounts receivable | 41 | €10,629 | €8,534 | -€2,095 | -19.7% |
| Cash at bank and in hand | 54/58 | €62,951 | €57,746 | -€5,205 | -8.3% |
| Deferred charges and accrued income | 490/1 | €789 | €448 | -€341 | -43.2% |
| Total equity and liabilities | 10/49 | €577,519 | €582,533 | +€5,014 | +0.9% |
| Equity | 10/15 | €576,798 | €578,546 | +€1,748 | +0.3% |
| Contributions | 10/11 | €547,610 | €547,610 | = | 0.0% |
| Capital | 10 | €547,610 | €547,610 | = | 0.0% |
| Issued capital | 100 | €547,610 | €547,610 | = | 0.0% |
| Reserves | 13 | €2,187 | €2,277 | +€90 | +4.1% |
| Non-distributable reserves | 130/1 | €2,187 | €2,277 | +€90 | +4.1% |
| Legal reserve | 130 | €2,187 | €2,277 | +€90 | +4.1% |
| Profit (loss) carried forward | 14 | €27,000 | €28,658 | +€1,658 | +6.1% |
| Amounts payable | 17/49 | €721 | €3,987 | +€3,266 | +452.7% |
| Amounts payable within one year | 42/48 | €721 | €3,032 | +€2,311 | +320.3% |
| Trade debts | 44 | €163 | €515 | +€352 | +216.1% |
| Suppliers | 440/4 | €163 | €515 | +€352 | +216.1% |
| Taxes, remuneration and social security | 45 | €559 | €2,088 | +€1,529 | +273.8% |
| Taxes | 450/3 | €559 | €2,088 | +€1,529 | +273.8% |
| Other amounts payable | 47/48 | - | €430 | +€430 | |
| Accrued charges and deferred income | 492/3 | €0 | €955 | +€955 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,028 | €15,846 | +€818 | +5.4% |
| Other operating charges | 640/8 | €4,996 | €5,052 | +€56 | +1.1% |
| Gross operating margin | 9900 | €21,575 | €23,221 | +€1,646 | +7.6% |
| Operating profit (loss) | 9901 | €1,550 | €2,323 | +€772 | +49.8% |
| Financial income | 75/76B | €743 | €405 | -€338 | -45.4% |
| Recurring financial income | 75 | €743 | €405 | -€338 | -45.4% |
| Financial charges | 65/66B | €225 | €347 | +€122 | +54.2% |
| Recurring financial charges | 65 | €225 | €347 | +€122 | +54.2% |
| Profit (loss) for the period before taxes | 9903 | €2,068 | €2,381 | +€313 | +15.1% |
| Income taxes | 67/77 | €563 | €633 | +€70 | +12.5% |
| Profit (loss) for the period | 9904 | €1,505 | €1,748 | +€243 | +16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,505 | €1,748 | +€243 | +16.1% |
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 3 October 2026 via checked.be.