REUL PARTS: what changed
REUL PARTS
Largest movements
- Tangible fixed assets +€1.8m
up €1.8m (+569%), from €307,811 to €2.1m
of which Furniture and vehicles: +€1.7m
- Stocks and contracts +€540,268
new in 2025: €540,268
- Cash -€532,363
down €532,363 (-100.0%), from €532,453 to €90
mainly Investment in fixed assets (net) (-€2.1m) and Stocks and contracts (-€540,268)
- Receivables within one year +€448,682
up €448,682 (+22.2%), from €2.0m to €2.5m
of which Other amounts receivable: +€458,544
- Deferred charges and accrued income +€159,359
up €159,359 (+1,245%), from €12,797 to €172,156
- Short-term financial debts +€999,632
up €999,632 (+200%), from €500,000 to €1.5m
- Profit (loss) carried forward +€805,049
up €805,049 (+226%), from €356,402 to €1.2m
- Reserves +€421,000
up €421,000 (+100%), from €421,000 to €842,000
- Tax, wage and social debts +€209,580
up €209,580 (+49.8%), from €421,037 to €630,618
of which Taxes: +€194,546
- Trade debts -€118,632
down €118,632 (-11.1%), from €1.1m to €946,528
- Gross operating margin +€832,260
up €832,260 (+69.2%), from €1.2m to €2.0m
- Depreciation +€322,194
up €322,194 (+2,814%), from €11,451 to €333,645
- Taxes +€98,666
up €98,666 (+41.7%), from €236,682 to €335,347
- Financial charges -€36,905
down €36,905 (-54.4%), from €67,824 to €30,919
- Staff costs +€22,563
up €22,563 (+28.9%), from €78,086 to €100,649
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 | €2,878,599 | €5,265,978 | +€2.4m | +82.9% |
| Fixed assets | 21/28 | €307,871 | €2,079,305 | +€1.8m | +575% |
| Tangible fixed assets | 22/27 | €307,811 | €2,059,840 | +€1.8m | +569% |
| Land and buildings | 22 | - | €19,900 | +€19,900 | |
| Plant, machinery and equipment | 23 | €142,043 | €202,956 | +€60,913 | +42.9% |
| Furniture and vehicles | 24 | €165,767 | €1,836,983 | +€1.7m | +1,008% |
| Financial fixed assets | 28 | €60 | €19,465 | +€19,405 | +32,342% |
| Current assets | 29/58 | €2,570,729 | €3,186,673 | +€615,944 | +24.0% |
| Stocks and contracts in progress | 3 | - | €540,268 | +€540,268 | |
| Stocks | 30/36 | - | €540,268 | +€540,268 | |
| Amounts receivable within one year | 40/41 | €2,025,478 | €2,474,160 | +€448,682 | +22.2% |
| Trade receivables | 40 | €2,025,061 | €2,015,198 | -€9,863 | -0.5% |
| Other amounts receivable | 41 | €417 | €458,961 | +€458,544 | +109,984% |
| Cash at bank and in hand | 54/58 | €532,453 | €90 | -€532,363 | -100.0% |
| Deferred charges and accrued income | 490/1 | €12,797 | €172,156 | +€159,359 | +1,245% |
| Total equity and liabilities | 10/49 | €2,878,599 | €5,265,978 | +€2.4m | +82.9% |
| Equity | 10/15 | €792,402 | €2,018,452 | +€1.2m | +155% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €421,000 | €842,000 | +€421,000 | +100% |
| Tax-exempt reserves | 132 | €421,000 | €842,000 | +€421,000 | +100% |
| Profit (loss) carried forward | 14 | €356,402 | €1,161,452 | +€805,049 | +226% |
| Amounts payable | 17/49 | €2,086,197 | €3,247,526 | +€1.2m | +55.7% |
| Amounts payable within one year | 42/48 | €2,086,197 | €3,176,778 | +€1.1m | +52.3% |
| Financial debts | 43 | €500,000 | €1,499,632 | +€999,632 | +200% |
| Credit institutions | 430/8 | €500,000 | €1,499,632 | +€999,632 | +200% |
| Trade debts | 44 | €1,065,160 | €946,528 | -€118,632 | -11.1% |
| Suppliers | 440/4 | €1,065,160 | €946,528 | -€118,632 | -11.1% |
| Taxes, remuneration and social security | 45 | €421,037 | €630,618 | +€209,580 | +49.8% |
| Taxes | 450/3 | €421,037 | €615,583 | +€194,546 | +46.2% |
| Remuneration and social security | 454/9 | - | €15,034 | +€15,034 | |
| Other amounts payable | 47/48 | €100,000 | €100,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €70,749 | +€70,749 | |
| Non-recurring operating income | 76A | €5,100 | €0 | -€5,100 | -100% |
| Remuneration, social security and pensions | 62 | €78,086 | €100,649 | +€22,563 | +28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,451 | €333,645 | +€322,194 | +2,814% |
| Other operating charges | 640/8 | €752 | €15,573 | +€14,821 | +1,970% |
| Gross operating margin | 9900 | €1,203,016 | €2,035,276 | +€832,260 | +69.2% |
| Operating profit (loss) | 9901 | €1,112,727 | €1,585,409 | +€472,682 | +42.5% |
| Financial income | 75/76B | €577 | €6,906 | +€6,329 | +1,097% |
| Recurring financial income | 75 | €577 | €6,906 | +€6,329 | +1,097% |
| Financial charges | 65/66B | €67,824 | €30,919 | -€36,905 | -54.4% |
| Recurring financial charges | 65 | €67,824 | €30,919 | -€36,905 | -54.4% |
| Profit (loss) for the period before taxes | 9903 | €1,045,480 | €1,561,397 | +€515,916 | +49.3% |
| Income taxes | 67/77 | €236,682 | €335,347 | +€98,666 | +41.7% |
| Profit (loss) for the period | 9904 | €808,799 | €1,226,049 | +€417,251 | +51.6% |
| Transfer to tax-exempt reserves | 689 | €421,000 | €421,000 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €387,799 | €805,049 | +€417,251 | +108% |
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 5 November 2026 via checked.be.