REWORKS: 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.
REWORKS
Largest movements
- Stocks and contracts +€82,375
up €82,375 (+19.5%), from €421,821 to €504,196
- Cash -€60,847
down €60,847 (-30.0%), from €202,521 to €141,674
mainly Stocks and contracts (-€82,375) and Tax, wage and social debts (-€29,009)
- Receivables within one year +€28,081
up €28,081 (+30.4%), from €92,445 to €120,527
of which Other amounts receivable: +€27,881
- Reserves +€102,214
up €102,214 (+17.1%), from €598,026 to €700,239
- Tax, wage and social debts -€29,009
down €29,009 (-47.6%), from €60,897 to €31,888
of which Taxes: -€27,820
- Trade debts -€16,866
down €16,866 (-24.2%), from €69,622 to €52,756
- Short-term financial debts -€8,866
down €8,866 (-43.1%), from €20,593 to €11,727
- Gross operating margin -€97,981
down €97,981 (-27.2%), from €360,785 to €262,803
- Taxes -€27,663
down €27,663 (-49.4%), from €56,009 to €28,346
- Staff costs +€8,044
up €8,044 (+9.2%), from €87,185 to €95,229
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 | €802,964 | €846,336 | +€43,373 | +5.4% |
| Fixed assets | 21/28 | €80,823 | €73,939 | -€6,883 | -8.5% |
| Tangible fixed assets | 22/27 | €80,823 | €73,939 | -€6,883 | -8.5% |
| Land and buildings | 22 | €57,907 | €43,905 | -€14,002 | -24.2% |
| Plant, machinery and equipment | 23 | €18,330 | €23,964 | +€5,634 | +30.7% |
| Furniture and vehicles | 24 | €4,586 | €6,070 | +€1,484 | +32.4% |
| Current assets | 29/58 | €722,141 | €772,397 | +€50,256 | +7.0% |
| Stocks and contracts in progress | 3 | €421,821 | €504,196 | +€82,375 | +19.5% |
| Stocks | 30/36 | €421,821 | €504,196 | +€82,375 | +19.5% |
| Amounts receivable within one year | 40/41 | €92,445 | €120,527 | +€28,081 | +30.4% |
| Trade receivables | 40 | €86,464 | €86,665 | +€201 | +0.2% |
| Other amounts receivable | 41 | €5,981 | €33,862 | +€27,881 | +466% |
| Cash at bank and in hand | 54/58 | €202,521 | €141,674 | -€60,847 | -30.0% |
| Deferred charges and accrued income | 490/1 | €5,354 | €6,001 | +€646 | +12.1% |
| Total equity and liabilities | 10/49 | €802,964 | €846,336 | +€43,373 | +5.4% |
| Equity | 10/15 | €628,026 | €730,239 | +€102,214 | +16.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €598,026 | €700,239 | +€102,214 | +17.1% |
| Distributable reserves | 133 | €598,026 | €700,239 | +€102,214 | +17.1% |
| Amounts payable | 17/49 | €174,938 | €116,097 | -€58,841 | -33.6% |
| Amounts payable within one year | 42/48 | €160,659 | €107,090 | -€53,569 | -33.3% |
| Financial debts | 43 | €20,593 | €11,727 | -€8,866 | -43.1% |
| Credit institutions | 430/8 | €20,593 | €11,727 | -€8,866 | -43.1% |
| Trade debts | 44 | €69,622 | €52,756 | -€16,866 | -24.2% |
| Suppliers | 440/4 | €69,622 | €52,756 | -€16,866 | -24.2% |
| Taxes, remuneration and social security | 45 | €60,897 | €31,888 | -€29,009 | -47.6% |
| Taxes | 450/3 | €58,138 | €30,318 | -€27,820 | -47.9% |
| Remuneration and social security | 454/9 | €2,759 | €1,570 | -€1,189 | -43.1% |
| Other amounts payable | 47/48 | €9,547 | €10,719 | +€1,172 | +12.3% |
| Accrued charges and deferred income | 492/3 | €14,279 | €9,007 | -€5,272 | -36.9% |
| Remuneration, social security and pensions | 62 | €87,185 | €95,229 | +€8,044 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,042 | €21,603 | +€560 | +2.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €819 | +€819 | |
| Other operating charges | 640/8 | €8,602 | €6,898 | -€1,704 | -19.8% |
| Gross operating margin | 9900 | €360,785 | €262,803 | -€97,981 | -27.2% |
| Operating profit (loss) | 9901 | €243,955 | €138,254 | -€105,700 | -43.3% |
| Financial income | 75/76B | €109 | €47 | -€63 | -57.4% |
| Recurring financial income | 75 | €109 | €47 | -€63 | -57.4% |
| Financial charges | 65/66B | €8,305 | €7,741 | -€564 | -6.8% |
| Recurring financial charges | 65 | €8,305 | €7,741 | -€564 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €235,759 | €130,560 | -€105,199 | -44.6% |
| Income taxes | 67/77 | €56,009 | €28,346 | -€27,663 | -49.4% |
| Profit (loss) for the period | 9904 | €179,750 | €102,214 | -€77,537 | -43.1% |
| Profit (loss) for the period to be appropriated | 9905 | €179,750 | €102,214 | -€77,537 | -43.1% |
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.