REVERCON: 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.
REVERCON
Largest movements
- Receivables within one year +€145,931
up €145,931 (+264%), from €55,221 to €201,152
of which Trade receivables: +€140,292
- Tangible fixed assets -€16,623
down €16,623 (-52.8%), from €31,475 to €14,852
of which Plant, machinery and equipment: -€8,333
- Stocks and contracts +€13,000
up €13,000 (+1,347%), from €965 to €13,965
- Cash -€7,241
down €7,241 (-4.3%), from €167,663 to €160,422
mainly Receivables within one year (-€145,931) and Net result for the year (-€56,551)
- Deferred charges and accrued income +€5,505
up €5,505 (+130%), from €4,229 to €9,735
- Trade debts +€219,042
up €219,042 (+1,873%), from €11,698 to €230,739
- Profit (loss) carried forward -€56,551
down €56,551, from €0 to -€56,551
- Other debts -€14,733
down €14,733 (-26.4%), from €55,852 to €41,120
- Current portion of long-term debt -€5,947
down €5,947 (-100%), from €5,947 to €0
- Gross operating margin -€167,741
down €167,741, from €132,616 to -€35,125
- Taxes -€30,849
down €30,849 (-97.8%), from €31,545 to €696
- Depreciation -€7,659
down €7,659 (-29.5%), from €25,924 to €18,265
- Financial charges -€3,296
down €3,296 (-73.6%), from €4,480 to €1,184
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 | €259,553 | €402,718 | +€143,165 | +55.2% |
| Fixed assets | 21/28 | €31,475 | €17,444 | -€14,031 | -44.6% |
| Intangible fixed assets | 21 | - | €2,592 | +€2,592 | |
| Tangible fixed assets | 22/27 | €31,475 | €14,852 | -€16,623 | -52.8% |
| Plant, machinery and equipment | 23 | €18,716 | €10,383 | -€8,333 | -44.5% |
| Furniture and vehicles | 24 | €10,353 | €3,104 | -€7,249 | -70.0% |
| Other tangible fixed assets | 26 | €2,405 | €1,365 | -€1,041 | -43.3% |
| Current assets | 29/58 | €228,079 | €385,274 | +€157,196 | +68.9% |
| Stocks and contracts in progress | 3 | €965 | €13,965 | +€13,000 | +1,347% |
| Stocks | 30/36 | €965 | €13,965 | +€13,000 | +1,347% |
| Amounts receivable within one year | 40/41 | €55,221 | €201,152 | +€145,931 | +264% |
| Trade receivables | 40 | €41,272 | €181,564 | +€140,292 | +340% |
| Other amounts receivable | 41 | €13,949 | €19,588 | +€5,639 | +40.4% |
| Cash at bank and in hand | 54/58 | €167,663 | €160,422 | -€7,241 | -4.3% |
| Deferred charges and accrued income | 490/1 | €4,229 | €9,735 | +€5,505 | +130% |
| Total equity and liabilities | 10/49 | €259,553 | €402,718 | +€143,165 | +55.2% |
| Equity | 10/15 | €180,429 | €123,878 | -€56,551 | -31.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €155,429 | €155,429 | = | 0.0% |
| Distributable reserves | 133 | €155,429 | €155,429 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€56,551 | -€56,551 | |
| Amounts payable | 17/49 | €79,124 | €278,839 | +€199,715 | +252% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €76,624 | €276,339 | +€199,715 | +261% |
| Current portion of amounts payable after more than one year | 42 | €5,947 | €0 | -€5,947 | -100% |
| Trade debts | 44 | €11,698 | €230,739 | +€219,042 | +1,873% |
| Suppliers | 440/4 | €11,698 | €230,739 | +€219,042 | +1,873% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,127 | €4,481 | +€1,354 | +43.3% |
| Taxes | 450/3 | €3,127 | €4,481 | +€1,354 | +43.3% |
| Other amounts payable | 47/48 | €55,852 | €41,120 | -€14,733 | -26.4% |
| Accrued charges and deferred income | 492/3 | €2,500 | €2,500 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,924 | €18,265 | -€7,659 | -29.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €281 | +€281 | |
| Other operating charges | 640/8 | €1,737 | €1,948 | +€211 | +12.2% |
| Gross operating margin | 9900 | €132,616 | -€35,125 | -€167,741 | |
| Operating profit (loss) | 9901 | €104,956 | -€55,618 | -€160,574 | |
| Financial income | 75/76B | €1,502 | €947 | -€555 | -36.9% |
| Recurring financial income | 75 | €1,502 | €947 | -€555 | -36.9% |
| Financial charges | 65/66B | €4,480 | €1,184 | -€3,296 | -73.6% |
| Recurring financial charges | 65 | €4,480 | €1,184 | -€3,296 | -73.6% |
| Profit (loss) for the period before taxes | 9903 | €101,978 | -€55,854 | -€157,832 | |
| Income taxes | 67/77 | €31,545 | €696 | -€30,849 | -97.8% |
| Profit (loss) for the period | 9904 | €70,433 | -€56,551 | -€126,983 | |
| Profit (loss) for the period to be appropriated | 9905 | €70,433 | -€56,551 | -€126,983 |
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 17 October 2026 via checked.be.