Retras: 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.
Retras
Largest movements
- Financial fixed assets -€957,195
no longer reported in 2025 (was €957,195)
- Receivables within one year +€67,671
up €67,671 (+43.2%), from €156,514 to €224,185
of which Other amounts receivable: +€80,417
- Tangible fixed assets -€20,611
down €20,611 (-8.6%), from €239,350 to €218,739
of which Leasing and similar rights: -€18,033
- Reserves -€727,999
down €727,999 (-99.7%), from €729,859 to €1,860
of which Distributable reserves: -€727,999
- Profit (loss) carried forward -€170,633
new in 2025: -€170,633
- Gross operating margin -€9,420
down €9,420 (-57.7%), from €16,338 to €6,918
- Financial charges -€2,741
down €2,741 (-26.9%), from €10,172 to €7,432
- Financial income +€2,268
up €2,268 (+135%), from €1,684 to €3,952
- Other operating charges +€1,437
up €1,437 (+100.0%), from €1,437 to €2,874
- Depreciation +€415
up €415 (+2.0%), from €20,982 to €21,396
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 | €1,353,465 | €448,335 | -€905,130 | -66.9% |
| Fixed assets | 21/28 | €1,196,545 | €218,739 | -€977,806 | -81.7% |
| Tangible fixed assets | 22/27 | €239,350 | €218,739 | -€20,611 | -8.6% |
| Plant, machinery and equipment | 23 | €9,462 | €6,884 | -€2,578 | -27.2% |
| Furniture and vehicles | 24 | - | €0 | = | |
| Leasing and similar rights | 25 | €229,888 | €211,855 | -€18,033 | -7.8% |
| Financial fixed assets | 28 | €957,195 | - | -€957,195 | |
| Current assets | 29/58 | €156,920 | €229,597 | +€72,677 | +46.3% |
| Amounts receivable within one year | 40/41 | €156,514 | €224,185 | +€67,671 | +43.2% |
| Trade receivables | 40 | €62,636 | €49,890 | -€12,747 | -20.4% |
| Other amounts receivable | 41 | €93,878 | €174,295 | +€80,417 | +85.7% |
| Cash at bank and in hand | 54/58 | €406 | €5,412 | +€5,006 | +1,234% |
| Total equity and liabilities | 10/49 | €1,353,465 | €448,335 | -€905,130 | -66.9% |
| Equity | 10/15 | €748,455 | -€150,176 | -€898,631 | |
| Contributions | 10/11 | €18,596 | €18,596 | = | 0.0% |
| Reserves | 13 | €729,859 | €1,860 | -€727,999 | -99.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €727,999 | - | -€727,999 | |
| Profit (loss) carried forward | 14 | - | -€170,633 | -€170,633 | |
| Amounts payable | 17/49 | €605,010 | €598,512 | -€6,498 | -1.1% |
| Amounts payable after more than one year | 17 | €245,781 | €233,932 | -€11,849 | -4.8% |
| Financial debts | 170/4 | €245,781 | €233,932 | -€11,849 | -4.8% |
| Amounts payable within one year | 42/48 | €359,229 | €364,580 | +€5,351 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €8,216 | €14,034 | +€5,818 | +70.8% |
| Trade debts | 44 | €288 | €2,092 | +€1,804 | +626% |
| Suppliers | 440/4 | €288 | €2,092 | +€1,804 | +626% |
| Other amounts payable | 47/48 | €350,725 | €348,454 | -€2,271 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,982 | €21,396 | +€415 | +2.0% |
| Other operating charges | 640/8 | €1,437 | €2,874 | +€1,437 | +100.0% |
| Non-recurring operating charges | 66A | - | €877,800 | +€877,800 | |
| Gross operating margin | 9900 | €16,338 | €6,918 | -€9,420 | -57.7% |
| Operating profit (loss) | 9901 | -€6,081 | -€895,152 | -€889,071 | -14,620% |
| Financial income | 75/76B | €1,684 | €3,952 | +€2,268 | +135% |
| Recurring financial income | 75 | €1,684 | €3,952 | +€2,268 | +135% |
| Financial charges | 65/66B | €10,172 | €7,432 | -€2,741 | -26.9% |
| Recurring financial charges | 65 | €10,172 | €7,432 | -€2,741 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | -€14,570 | -€898,631 | -€884,062 | -6,068% |
| Profit (loss) for the period | 9904 | -€14,570 | -€898,631 | -€884,062 | -6,068% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,570 | -€898,631 | -€884,062 | -6,068% |
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 13 October 2026 via checked.be.