RETROCONSTRUCT: what changed
RETROCONSTRUCT
Largest movements
- Cash +€109,103
up €109,103 (+150%), from €72,915 to €182,017
mainly Depreciation (+€115,814) and Receivables within one year (+€50,717)
- Tangible fixed assets -€68,436
down €68,436 (-6.2%), from €1.1m to €1.0m
of which Furniture and vehicles: -€53,294
- Receivables within one year -€50,717
down €50,717 (-70.3%), from €72,191 to €21,474
of which Trade receivables: -€32,953
- Other debts -€51,429
down €51,429 (-16.9%), from €304,812 to €253,383
- Reserves +€50,105
up €50,105 (+9.3%), from €538,277 to €588,382
of which Distributable reserves: +€50,105
- Debts after one year -€41,657
down €41,657 (-16.1%), from €257,988 to €216,331
- Trade debts +€28,975
up €28,975 (+191%), from €15,132 to €44,107
- Gross operating margin +€17,597
up €17,597 (+6.6%), from €264,848 to €282,445
- Staff costs -€12,856
down €12,856 (-17.2%), from €74,746 to €61,891
- Depreciation +€12,040
up €12,040 (+11.6%), from €103,774 to €115,814
- Taxes +€6,869
up €6,869 (+57.2%), from €12,000 to €18,868
- Financial charges -€5,485
down €5,485 (-17.2%), from €31,949 to €26,464
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,276,134 | €1,256,752 | -€19,382 | -1.5% |
| Fixed assets | 21/28 | €1,111,823 | €1,043,387 | -€68,436 | -6.2% |
| Tangible fixed assets | 22/27 | €1,111,823 | €1,043,387 | -€68,436 | -6.2% |
| Land and buildings | 22 | €684,615 | €667,352 | -€17,263 | -2.5% |
| Plant, machinery and equipment | 23 | €33,274 | €45,827 | +€12,554 | +37.7% |
| Furniture and vehicles | 24 | €355,119 | €301,825 | -€53,294 | -15.0% |
| Leasing and similar rights | 25 | €38,815 | €28,383 | -€10,433 | -26.9% |
| Current assets | 29/58 | €164,311 | €213,365 | +€49,054 | +29.9% |
| Stocks and contracts in progress | 3 | €19,205 | €9,874 | -€9,331 | -48.6% |
| Stocks | 30/36 | €19,205 | €9,874 | -€9,331 | -48.6% |
| Amounts receivable within one year | 40/41 | €72,191 | €21,474 | -€50,717 | -70.3% |
| Trade receivables | 40 | €34,427 | €1,474 | -€32,953 | -95.7% |
| Other amounts receivable | 41 | €37,763 | €20,000 | -€17,763 | -47.0% |
| Cash at bank and in hand | 54/58 | €72,915 | €182,017 | +€109,103 | +150% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,276,134 | €1,256,752 | -€19,382 | -1.5% |
| Equity | 10/15 | €619,377 | €669,482 | +€50,105 | +8.1% |
| Contributions | 10/11 | €81,100 | €81,100 | = | 0.0% |
| Reserves | 13 | €538,277 | €588,382 | +€50,105 | +9.3% |
| Tax-exempt reserves | 132 | €9,950 | €9,950 | = | 0.0% |
| Distributable reserves | 133 | €528,327 | €578,432 | +€50,105 | +9.5% |
| Amounts payable | 17/49 | €656,757 | €587,269 | -€69,487 | -10.6% |
| Amounts payable after more than one year | 17 | €257,988 | €216,331 | -€41,657 | -16.1% |
| Financial debts | 170/4 | €257,988 | €216,331 | -€41,657 | -16.1% |
| Amounts payable within one year | 42/48 | €374,706 | €351,178 | -€23,528 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €54,263 | €41,657 | -€12,606 | -23.2% |
| Trade debts | 44 | €15,132 | €44,107 | +€28,975 | +191% |
| Suppliers | 440/4 | €15,132 | €44,107 | +€28,975 | +191% |
| Taxes, remuneration and social security | 45 | €499 | €12,031 | +€11,532 | +2,310% |
| Taxes | 450/3 | €499 | €12,031 | +€11,532 | +2,310% |
| Other amounts payable | 47/48 | €304,812 | €253,383 | -€51,429 | -16.9% |
| Accrued charges and deferred income | 492/3 | €24,062 | €19,760 | -€4,302 | -17.9% |
| Non-recurring operating income | 76A | €11,500 | €0 | -€11,500 | -100% |
| Remuneration, social security and pensions | 62 | €74,746 | €61,891 | -€12,856 | -17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,774 | €115,814 | +€12,040 | +11.6% |
| Other operating charges | 640/8 | €10,640 | €9,306 | -€1,333 | -12.5% |
| Gross operating margin | 9900 | €264,848 | €282,445 | +€17,597 | +6.6% |
| Operating profit (loss) | 9901 | €75,688 | €95,434 | +€19,746 | +26.1% |
| Financial income | 75/76B | €2 | €4 | +€2 | +83.1% |
| Recurring financial income | 75 | €2 | €4 | +€2 | +83.1% |
| Financial charges | 65/66B | €31,949 | €26,464 | -€5,485 | -17.2% |
| Recurring financial charges | 65 | €31,949 | €26,464 | -€5,485 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €43,740 | €68,974 | +€25,233 | +57.7% |
| Income taxes | 67/77 | €12,000 | €18,868 | +€6,869 | +57.2% |
| Profit (loss) for the period | 9904 | €31,741 | €50,105 | +€18,365 | +57.9% |
| Profit (loss) for the period to be appropriated | 9905 | €31,741 | €50,105 | +€18,365 | +57.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.