REULCONSTRUCTION: what changed
Two fiscal 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.
REULCONSTRUCTION
Largest movements
- Stocks and contracts -€58,250
down €58,250 (-100.0%), from €58,250 to €0
- Cash +€36,510
up €36,510 (+190.8%), from €19,138 to €55,648
mainly Stocks and contracts (+€58,250) and Depreciation (+€27,226)
- Tangible fixed assets +€9,521
up €9,521 (+6.9%), from €137,098 to €146,619
of which Furniture and vehicles: +€20,148
- Receivables within one year -€2,830
down €2,830 (-4.4%), from €64,286 to €61,456
of which Trade receivables: -€2,558
- Tax, wage and social debts -€11,897
down €11,897 (-80.9%), from €14,704 to €2,808
of which Taxes: -€10,920
- Profit (loss) carried forward -€9,768
down €9,768 (-8.5%), from €114,344 to €104,576
- Current portion of long-term debt +€8,131
up €8,131 (+53.6%), from €15,157 to €23,289
- Trade debts -€7,684
down €7,684 (-87.3%), from €8,803 to €1,119
- Debts after one year +€7,429
up €7,429 (+7.2%), from €103,453 to €110,882
of which Financial debts: +€6,617
- Gross operating margin -€65,582
down €65,582 (-41.9%), from €156,481 to €90,900
- Taxes -€16,933
down €16,933 (-100.0%), from €16,933 to €0
- Staff costs +€11,548
up €11,548 (+21.3%), from €54,252 to €65,800
- Depreciation +€4,938
up €4,938 (+22.2%), from €22,288 to €27,226
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 | €280,985 | €265,736 | -€15,250 | -5.4% |
| Fixed assets | 21/28 | €137,368 | €146,889 | +€9,521 | +6.9% |
| Tangible fixed assets | 22/27 | €137,098 | €146,619 | +€9,521 | +6.9% |
| Land and buildings | 22 | €87,179 | €80,870 | -€6,309 | -7.2% |
| Plant, machinery and equipment | 23 | €12,421 | €8,177 | -€4,244 | -34.2% |
| Furniture and vehicles | 24 | €37,425 | €57,572 | +€20,148 | +53.8% |
| Other tangible fixed assets | 26 | €73 | €0 | -€73 | -100.0% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €143,617 | €118,846 | -€24,771 | -17.2% |
| Stocks and contracts in progress | 3 | €58,250 | €0 | -€58,250 | -100.0% |
| Stocks | 30/36 | €58,250 | €0 | -€58,250 | -100.0% |
| Amounts receivable within one year | 40/41 | €64,286 | €61,456 | -€2,830 | -4.4% |
| Trade receivables | 40 | €56,134 | €53,577 | -€2,558 | -4.6% |
| Other amounts receivable | 41 | €8,152 | €7,879 | -€273 | -3.3% |
| Cash at bank and in hand | 54/58 | €19,138 | €55,648 | +€36,510 | +190.8% |
| Deferred charges and accrued income | 490/1 | €1,944 | €1,743 | -€201 | -10.3% |
| Total equity and liabilities | 10/49 | €280,985 | €265,736 | -€15,250 | -5.4% |
| Equity | 10/15 | €134,804 | €125,036 | -€9,768 | -7.2% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €114,344 | €104,576 | -€9,768 | -8.5% |
| Amounts payable | 17/49 | €146,182 | €140,700 | -€5,482 | -3.8% |
| Amounts payable after more than one year | 17 | €103,453 | €110,882 | +€7,429 | +7.2% |
| Financial debts | 170/4 | €103,103 | €109,720 | +€6,617 | +6.4% |
| Other amounts payable | 178/9 | €351 | €1,163 | +€812 | +231.7% |
| Amounts payable within one year | 42/48 | €42,728 | €29,817 | -€12,911 | -30.2% |
| Current portion of amounts payable after more than one year | 42 | €15,157 | €23,289 | +€8,131 | +53.6% |
| Financial debts | 43 | €4,064 | €2,602 | -€1,462 | -36.0% |
| Credit institutions | 430/8 | €4,064 | €2,602 | -€1,462 | -36.0% |
| Trade debts | 44 | €8,803 | €1,119 | -€7,684 | -87.3% |
| Suppliers | 440/4 | €8,803 | €1,119 | -€7,684 | -87.3% |
| Taxes, remuneration and social security | 45 | €14,704 | €2,808 | -€11,897 | -80.9% |
| Taxes | 450/3 | €11,991 | €1,071 | -€10,920 | -91.1% |
| Remuneration and social security | 454/9 | €2,713 | €1,736 | -€977 | -36.0% |
| Non-recurring operating income | 76A | - | €413 | +€413 | |
| Remuneration, social security and pensions | 62 | €54,252 | €65,800 | +€11,548 | +21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,288 | €27,226 | +€4,938 | +22.2% |
| Other operating charges | 640/8 | €887 | €1,566 | +€678 | +76.4% |
| Gross operating margin | 9900 | €156,481 | €90,900 | -€65,582 | -41.9% |
| Operating profit (loss) | 9901 | €79,054 | -€3,692 | -€82,746 | |
| Financial income | 75/76B | €77 | €205 | +€128 | +165.8% |
| Recurring financial income | 75 | €77 | €205 | +€128 | +165.8% |
| Financial charges | 65/66B | €6,039 | €6,281 | +€241 | +4.0% |
| Recurring financial charges | 65 | €6,039 | €6,281 | +€241 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €73,092 | -€9,768 | -€82,860 | |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €16,933 | €0 | -€16,933 | -100.0% |
| Profit (loss) for the period | 9904 | €56,159 | -€9,768 | -€65,926 | |
| Profit (loss) for the period to be appropriated | 9905 | €56,159 | -€9,768 | -€65,926 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.