REX CONSTRUCTION: 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.
REX CONSTRUCTION
Largest movements
- Receivables within one year -€103,449
down €103,449 (-7.3%), from €1.4m to €1.3m
of which Trade receivables: -€606,010
- Stocks and contracts -€73,973
down €73,973 (-19.4%), from €381,931 to €307,957
- Tangible fixed assets -€35,668
down €35,668 (-3.2%), from €1.1m to €1.1m
of which Land and buildings: -€31,598
- Debts after one year -€366,399
down €366,399 (-33.5%), from €1.1m to €726,724
- Profit (loss) carried forward +€200,015
up €200,015 (+11.4%), from -€1.8m to -€1.6m
- Tax, wage and social debts +€199,786
up €199,786 (+1,062%), from €18,818 to €218,604
of which Taxes: +€211,158
- Other debts -€199,535
down €199,535 (-5.9%), from €3.4m to €3.2m
- Current portion of long-term debt -€192,769
down €192,769 (-75.9%), from €254,023 to €61,254
- Staff costs -€97,708
down €97,708 (-100%), from €97,708 to €0
- Financial charges -€35,837
down €35,837 (-25.9%), from €138,106 to €102,269
- Gross operating margin +€25,030
up €25,030 (+8.1%), from €307,654 to €332,684
- Financial income +€4,140
up €4,140 (+90.7%), from €4,565 to €8,706
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 | €3,189,590 | €2,994,801 | -€194,789 | -6.1% |
| Fixed assets | 21/28 | €1,374,907 | €1,339,240 | -€35,668 | -2.6% |
| Tangible fixed assets | 22/27 | €1,116,582 | €1,080,915 | -€35,668 | -3.2% |
| Land and buildings | 22 | €1,107,936 | €1,076,337 | -€31,598 | -2.9% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €8,646 | €4,577 | -€4,069 | -47.1% |
| Financial fixed assets | 28 | €258,325 | €258,325 | = | 0.0% |
| Current assets | 29/58 | €1,814,683 | €1,655,561 | -€159,121 | -8.8% |
| Stocks and contracts in progress | 3 | €381,931 | €307,957 | -€73,973 | -19.4% |
| Stocks | 30/36 | €381,931 | €307,957 | -€73,973 | -19.4% |
| Amounts receivable within one year | 40/41 | €1,414,107 | €1,310,658 | -€103,449 | -7.3% |
| Trade receivables | 40 | €1,035,079 | €429,069 | -€606,010 | -58.5% |
| Other amounts receivable | 41 | €379,028 | €881,589 | +€502,562 | +133% |
| Cash at bank and in hand | 54/58 | €7,626 | €0 | -€7,626 | -100% |
| Deferred charges and accrued income | 490/1 | €11,020 | €36,946 | +€25,927 | +235% |
| Total equity and liabilities | 10/49 | €3,189,590 | €2,994,801 | -€194,789 | -6.1% |
| Equity | 10/15 | -€1,650,031 | -€1,450,016 | +€200,015 | +12.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€1,750,031 | -€1,550,016 | +€200,015 | +11.4% |
| Amounts payable | 17/49 | €4,839,621 | €4,444,817 | -€394,803 | -8.2% |
| Amounts payable after more than one year | 17 | €1,093,123 | €726,724 | -€366,399 | -33.5% |
| Financial debts | 170/4 | €1,093,123 | €726,724 | -€366,399 | -33.5% |
| Amounts payable within one year | 42/48 | €3,693,710 | €3,670,529 | -€23,181 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €254,023 | €61,254 | -€192,769 | -75.9% |
| Financial debts | 43 | - | €39,897 | +€39,897 | |
| Credit institutions | 430/8 | - | €39,897 | +€39,897 | |
| Trade debts | 44 | €35,198 | €164,638 | +€129,440 | +368% |
| Suppliers | 440/4 | €35,198 | €164,638 | +€129,440 | +368% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €18,818 | €218,604 | +€199,786 | +1,062% |
| Taxes | 450/3 | €7,446 | €218,604 | +€211,158 | +2,836% |
| Remuneration and social security | 454/9 | €11,372 | €0 | -€11,372 | -100% |
| Other amounts payable | 47/48 | €3,385,671 | €3,186,136 | -€199,535 | -5.9% |
| Accrued charges and deferred income | 492/3 | €52,787 | €47,565 | -€5,223 | -9.9% |
| Non-recurring operating income | 76A | €0 | €1,750 | +€1,750 | |
| Remuneration, social security and pensions | 62 | €97,708 | €0 | -€97,708 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,174 | €35,668 | -€2,507 | -6.6% |
| Other operating charges | 640/8 | €3,641 | €3,438 | -€203 | -5.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €307,654 | €332,684 | +€25,030 | +8.1% |
| Operating profit (loss) | 9901 | €168,131 | €293,578 | +€125,447 | +74.6% |
| Financial income | 75/76B | €4,565 | €8,706 | +€4,140 | +90.7% |
| Recurring financial income | 75 | €4,565 | €8,706 | +€4,140 | +90.7% |
| Financial charges | 65/66B | €138,106 | €102,269 | -€35,837 | -25.9% |
| Recurring financial charges | 65 | €138,106 | €102,269 | -€35,837 | -25.9% |
| Profit (loss) for the period before taxes | 9903 | €34,590 | €200,015 | +€165,424 | +478% |
| Income taxes | 67/77 | €171 | €0 | -€171 | -100% |
| Profit (loss) for the period | 9904 | €34,420 | €200,015 | +€165,595 | +481% |
| Profit (loss) for the period to be appropriated | 9905 | €34,420 | €200,015 | +€165,595 | +481% |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.