RETHO CONSTRUCTION: 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.
RETHO CONSTRUCTION
Largest movements
- Cash +€9,126
up €9,126 (+35.4%), from €25,750 to €34,876
mainly Depreciation (+€43,582) and Other debts (+€35,000)
- Tangible fixed assets -€1,892
down €1,892 (-1.4%), from €137,543 to €135,652
of which Plant, machinery and equipment: -€7,818
- Other debts +€35,000
up €35,000 (+172.1%), from €20,340 to €55,340
- Debts after one year -€22,072
down €22,072 (-35.3%), from €62,580 to €40,509
- Tax, wage and social debts -€14,014
down €14,014 (-87.6%), from €15,993 to €1,978
of which Remuneration and social security: -€14,850
- Profit (loss) carried forward +€5,732
up €5,732 (+74.7%), from €7,673 to €13,405
- Trade debts +€2,034
up €2,034 (+36.3%), from €5,610 to €7,644
- Gross operating margin +€12,300
up €12,300 (+29.9%), from €41,093 to €53,393
- Depreciation +€4,583
up €4,583 (+11.8%), from €38,998 to €43,582
- Taxes +€848
up €848 (+383.8%), from €221 to €1,069
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 | €180,894 | €187,796 | +€6,902 | +3.8% |
| Fixed assets | 21/28 | €137,543 | €135,652 | -€1,892 | -1.4% |
| Tangible fixed assets | 22/27 | €137,543 | €135,652 | -€1,892 | -1.4% |
| Plant, machinery and equipment | 23 | €23,040 | €15,222 | -€7,818 | -33.9% |
| Furniture and vehicles | 24 | €114,503 | €120,430 | +€5,926 | +5.2% |
| Current assets | 29/58 | €43,351 | €52,144 | +€8,793 | +20.3% |
| Amounts receivable within one year | 40/41 | €16,456 | €15,738 | -€718 | -4.4% |
| Trade receivables | 40 | €13,695 | €13,740 | +€45 | +0.3% |
| Other amounts receivable | 41 | €2,761 | €1,998 | -€763 | -27.6% |
| Cash at bank and in hand | 54/58 | €25,750 | €34,876 | +€9,126 | +35.4% |
| Deferred charges and accrued income | 490/1 | €1,145 | €1,531 | +€386 | +33.7% |
| Total equity and liabilities | 10/49 | €180,894 | €187,796 | +€6,902 | +3.8% |
| Equity | 10/15 | €55,003 | €60,095 | +€5,092 | +9.3% |
| Contributions | 10/11 | €25,500 | €25,500 | = | 0.0% |
| Reserves | 13 | €21,830 | €21,190 | -€640 | -2.9% |
| Tax-exempt reserves | 132 | €1,280 | €640 | -€640 | -50.0% |
| Distributable reserves | 133 | €20,550 | €20,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,673 | €13,405 | +€5,732 | +74.7% |
| Provisions and deferred taxes | 16 | €320 | €160 | -€160 | -50.0% |
| Deferred taxes | 168 | €320 | €160 | -€160 | -50.0% |
| Amounts payable | 17/49 | €125,571 | €127,541 | +€1,970 | +1.6% |
| Amounts payable after more than one year | 17 | €62,580 | €40,509 | -€22,072 | -35.3% |
| Financial debts | 170/4 | €62,580 | €40,509 | -€22,072 | -35.3% |
| Amounts payable within one year | 42/48 | €62,991 | €87,032 | +€24,042 | +38.2% |
| Current portion of amounts payable after more than one year | 42 | €21,049 | €22,071 | +€1,022 | +4.9% |
| Trade debts | 44 | €5,610 | €7,644 | +€2,034 | +36.3% |
| Suppliers | 440/4 | €5,610 | €7,644 | +€2,034 | +36.3% |
| Taxes, remuneration and social security | 45 | €15,993 | €1,978 | -€14,014 | -87.6% |
| Taxes | 450/3 | €234 | €1,069 | +€835 | +357.0% |
| Remuneration and social security | 454/9 | €15,759 | €909 | -€14,850 | -94.2% |
| Other amounts payable | 47/48 | €20,340 | €55,340 | +€35,000 | +172.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,998 | €43,582 | +€4,583 | +11.8% |
| Other operating charges | 640/8 | €351 | €420 | +€69 | +19.5% |
| Gross operating margin | 9900 | €41,093 | €53,393 | +€12,300 | +29.9% |
| Operating profit (loss) | 9901 | €1,743 | €9,392 | +€7,649 | +438.8% |
| Financial income | 75/76B | €0 | €95 | +€95 | +189940.0% |
| Recurring financial income | 75 | €0 | €95 | +€95 | +189940.0% |
| Financial charges | 65/66B | €3,902 | €3,486 | -€416 | -10.7% |
| Recurring financial charges | 65 | €3,902 | €3,486 | -€416 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,158 | €6,001 | +€8,159 | |
| Transfer from deferred taxes | 780 | €160 | €160 | = | 0.0% |
| Income taxes | 67/77 | €221 | €1,069 | +€848 | +383.8% |
| Profit (loss) for the period | 9904 | -€2,219 | €5,092 | +€7,311 | |
| Transfer from tax-exempt reserves | 789 | €640 | €640 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,579 | €5,732 | +€7,311 |
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 12 October 2026 via checked.be.