REX CONSULTANCY: 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.
REX CONSULTANCY
Largest movements
- Current investments -€959,792
down €959,792 (-24.0%), from €4.0m to €3.0m
- Receivables after one year -€544,000
down €544,000 (-16.8%), from €3.2m to €2.7m
- Cash -€230,201
down €230,201 (-67.1%), from €343,211 to €113,010
mainly Other debts (-€1.6m) and Debts after one year (-€152,773)
- Receivables within one year -€156,031
down €156,031 (-81.4%), from €191,662 to €35,631
of which Other amounts receivable: -€173,592
- Other debts -€1.6m
down €1.6m (-69.1%), from €2.4m to €730,746
- Debts after one year -€152,773
down €152,773 (-27.8%), from €549,357 to €396,584
- Financial income -€55,101
down €55,101 (-25.1%), from €219,715 to €164,614
- Financial charges +€39,962
up €39,962, from -€24,481 to €15,481
of which Financial charges: +€44,539
- Depreciation -€29,405
down €29,405 (-56.6%), from €51,916 to €22,511
- Taxes -€23,702
down €23,702 (-38.3%), from €61,953 to €38,251
- Other operating charges +€2,647
up €2,647 (+55.1%), from €4,801 to €7,448
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 | €12,171,000 | €10,304,709 | -€1.9m | -15.3% |
| Fixed assets | 21/28 | €4,389,958 | €4,413,624 | +€23,667 | +0.5% |
| Tangible fixed assets | 22/27 | €3,052,908 | €3,076,574 | +€23,667 | +0.8% |
| Land and buildings | 22 | €2,853,995 | €3,003,115 | +€149,120 | +5.2% |
| Furniture and vehicles | 24 | €198,913 | €73,459 | -€125,454 | -63.1% |
| Financial fixed assets | 28 | €1,337,050 | €1,337,050 | = | 0.0% |
| Current assets | 29/58 | €7,781,042 | €5,891,085 | -€1.9m | -24.3% |
| Amounts receivable after more than one year | 29 | €3,244,000 | €2,700,000 | -€544,000 | -16.8% |
| Other amounts receivable | 291 | €3,244,000 | €2,700,000 | -€544,000 | -16.8% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €191,662 | €35,631 | -€156,031 | -81.4% |
| Trade receivables | 40 | €18,070 | €35,631 | +€17,561 | +97.2% |
| Other amounts receivable | 41 | €173,592 | €0 | -€173,592 | -100.0% |
| Current investments | 50/53 | €4,000,204 | €3,040,412 | -€959,792 | -24.0% |
| Cash at bank and in hand | 54/58 | €343,211 | €113,010 | -€230,201 | -67.1% |
| Deferred charges and accrued income | 490/1 | €1,965 | €2,032 | +€67 | +3.4% |
| Total equity and liabilities | 10/49 | €12,171,000 | €10,304,709 | -€1.9m | -15.3% |
| Equity | 10/15 | €8,993,373 | €8,959,518 | -€33,855 | -0.4% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | €932,970 | €899,115 | -€33,855 | -3.6% |
| Distributable reserves | 133 | €932,970 | €899,115 | -€33,855 | -3.6% |
| Profit (loss) carried forward | 14 | €8,042,403 | €8,042,403 | = | 0.0% |
| Amounts payable | 17/49 | €3,177,627 | €1,345,191 | -€1.8m | -57.7% |
| Amounts payable after more than one year | 17 | €549,357 | €396,584 | -€152,773 | -27.8% |
| Financial debts | 170/4 | €549,357 | €396,584 | -€152,773 | -27.8% |
| Amounts payable within one year | 42/48 | €2,523,038 | €899,407 | -€1.6m | -64.4% |
| Current portion of amounts payable after more than one year | 42 | €151,964 | €152,773 | +€810 | +0.5% |
| Trade debts | 44 | €1,729 | €3,127 | +€1,397 | +80.8% |
| Suppliers | 440/4 | €1,729 | €3,127 | +€1,397 | +80.8% |
| Taxes, remuneration and social security | 45 | €3,522 | €12,761 | +€9,239 | +262.4% |
| Taxes | 450/3 | €3,522 | €12,761 | +€9,239 | +262.4% |
| Other amounts payable | 47/48 | €2,365,824 | €730,746 | -€1.6m | -69.1% |
| Accrued charges and deferred income | 492/3 | €105,231 | €49,200 | -€56,031 | -53.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,916 | €22,511 | -€29,405 | -56.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €40,000 | €40,000 | = | 0.0% |
| Other operating charges | 640/8 | €4,801 | €7,448 | +€2,647 | +55.1% |
| Non-recurring operating charges | 66A | - | €44,924 | +€44,924 | |
| Gross operating margin | 9900 | €97,076 | €95,085 | -€1,991 | -2.1% |
| Operating profit (loss) | 9901 | €359 | -€19,798 | -€20,156 | |
| Financial income | 75/76B | €219,715 | €164,614 | -€55,101 | -25.1% |
| Recurring financial income | 75 | €219,715 | €164,614 | -€55,101 | -25.1% |
| Financial charges | 65/66B | -€24,481 | €15,481 | +€39,962 | |
| Recurring financial charges | 65 | -€33,154 | €11,385 | +€44,539 | |
| Non-recurring financial charges | 66B | €8,673 | €4,096 | -€4,577 | -52.8% |
| Profit (loss) for the period before taxes | 9903 | €244,554 | €129,335 | -€115,219 | -47.1% |
| Income taxes | 67/77 | €61,953 | €38,251 | -€23,702 | -38.3% |
| Profit (loss) for the period | 9904 | €182,601 | €91,084 | -€91,517 | -50.1% |
| Profit (loss) for the period to be appropriated | 9905 | €182,601 | €91,084 | -€91,517 | -50.1% |
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 6 October 2026 via checked.be.