Retiax: 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.
Retiax
Largest movements
- Tangible fixed assets +€138,969
up €138,969 (+422%), from €32,901 to €171,870
of which Land and buildings: +€141,742
- Cash -€115,902
down €115,902 (-82.8%), from €140,007 to €24,105
mainly Investment in fixed assets (net) (-€164,488) and Contributions, distributions and other (-€26,746)
- Stocks and contracts -€5,716
down €5,716 (-81.9%), from €6,976 to €1,260
- Receivables within one year -€4,865
down €4,865 (-70.2%), from €6,928 to €2,063
of which Other amounts receivable: -€3,244
- Intangible fixed assets -€2,897
no longer reported in 2025 (was €2,897)
- Accrued charges and deferred income -€18,704
no longer reported in 2025 (was €18,704)
- Short-term financial debts +€17,661
new in 2025: €17,661
- Other debts +€13,923
up €13,923 (+16.0%), from €86,756 to €100,678
- Reserves -€11,811
down €11,811 (-25.6%), from €46,123 to €34,312
of which Distributable reserves: -€11,811
- Tax, wage and social debts +€6,600
up €6,600 (+339%), from €1,945 to €8,545
- Gross operating margin +€27,339
up €27,339 (+79.0%), from €34,596 to €61,935
- Depreciation +€11,426
up €11,426 (+67.3%), from €16,990 to €28,416
- Taxes +€4,852
up €4,852 (+115%), from €4,222 to €9,074
- Financial charges +€2,613
up €2,613 (+58.7%), from €4,453 to €7,067
of which Financial charges: +€2,101
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 | €190,432 | €202,087 | +€11,655 | +6.1% |
| Fixed assets | 21/28 | €35,798 | €171,870 | +€136,072 | +380% |
| Intangible fixed assets | 21 | €2,897 | - | -€2,897 | |
| Tangible fixed assets | 22/27 | €32,901 | €171,870 | +€138,969 | +422% |
| Land and buildings | 22 | €3,323 | €145,065 | +€141,742 | +4,265% |
| Plant, machinery and equipment | 23 | €14,353 | €8,585 | -€5,768 | -40.2% |
| Furniture and vehicles | 24 | €15,225 | €18,219 | +€2,995 | +19.7% |
| Current assets | 29/58 | €154,635 | €30,218 | -€124,417 | -80.5% |
| Stocks and contracts in progress | 3 | €6,976 | €1,260 | -€5,716 | -81.9% |
| Stocks | 30/36 | €6,976 | €1,260 | -€5,716 | -81.9% |
| Amounts receivable within one year | 40/41 | €6,928 | €2,063 | -€4,865 | -70.2% |
| Trade receivables | 40 | €1,863 | €242 | -€1,621 | -87.0% |
| Other amounts receivable | 41 | €5,065 | €1,821 | -€3,244 | -64.0% |
| Cash at bank and in hand | 54/58 | €140,007 | €24,105 | -€115,902 | -82.8% |
| Deferred charges and accrued income | 490/1 | €724 | €2,790 | +€2,066 | +285% |
| Total equity and liabilities | 10/49 | €190,432 | €202,087 | +€11,655 | +6.1% |
| Equity | 10/15 | €80,827 | €69,016 | -€11,811 | -14.6% |
| Contributions | 10/11 | €32,600 | €32,600 | = | 0.0% |
| Reserves | 13 | €46,123 | €34,312 | -€11,811 | -25.6% |
| Non-distributable reserves | 130/1 | €636 | €636 | = | 0.0% |
| Reserves not available under the articles | 1311 | €636 | €636 | = | 0.0% |
| Distributable reserves | 133 | €45,487 | €33,676 | -€11,811 | -26.0% |
| Profit (loss) carried forward | 14 | €2,104 | €2,104 | = | 0.0% |
| Amounts payable | 17/49 | €109,606 | €133,072 | +€23,466 | +21.4% |
| Amounts payable within one year | 42/48 | €90,902 | €133,072 | +€42,170 | +46.4% |
| Financial debts | 43 | - | €17,661 | +€17,661 | |
| Credit institutions | 430/8 | - | €17,661 | +€17,661 | |
| Trade debts | 44 | €2,201 | €6,187 | +€3,986 | +181% |
| Suppliers | 440/4 | €2,201 | €6,187 | +€3,986 | +181% |
| Taxes, remuneration and social security | 45 | €1,945 | €8,545 | +€6,600 | +339% |
| Taxes | 450/3 | €1,945 | €8,545 | +€6,600 | +339% |
| Other amounts payable | 47/48 | €86,756 | €100,678 | +€13,923 | +16.0% |
| Accrued charges and deferred income | 492/3 | €18,704 | - | -€18,704 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,990 | €28,416 | +€11,426 | +67.3% |
| Other operating charges | 640/8 | €2,788 | €2,519 | -€269 | -9.7% |
| Gross operating margin | 9900 | €34,596 | €61,935 | +€27,339 | +79.0% |
| Operating profit (loss) | 9901 | €14,819 | €31,001 | +€16,182 | +109% |
| Financial income | 75/76B | €3 | €75 | +€72 | +2,398% |
| Recurring financial income | 75 | €3 | €75 | +€72 | +2,398% |
| Financial charges | 65/66B | €4,453 | €7,067 | +€2,613 | +58.7% |
| Recurring financial charges | 65 | €4,453 | €6,554 | +€2,101 | +47.2% |
| Non-recurring financial charges | 66B | - | €512 | +€512 | |
| Profit (loss) for the period before taxes | 9903 | €10,369 | €24,009 | +€13,640 | +132% |
| Income taxes | 67/77 | €4,222 | €9,074 | +€4,852 | +115% |
| Profit (loss) for the period | 9904 | €6,146 | €14,935 | +€8,789 | +143% |
| Profit (loss) for the period to be appropriated | 9905 | €6,146 | €14,935 | +€8,789 | +143% |
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 15 October 2026 via checked.be.