REX HEATING: 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 HEATING
Largest movements
- Cash -€54,631
down €54,631 (-44.6%), from €122,480 to €67,849
mainly Contributions, distributions and other (-€85,000) and Trade debts (-€22,553)
- Stocks and contracts +€14,971
up €14,971 (+17.0%), from €88,064 to €103,035
- Receivables within one year +€5,348
up €5,348 (+12.9%), from €41,616 to €46,965
of which Trade receivables: +€4,755
- Trade debts -€22,553
down €22,553 (-60.2%), from €37,435 to €14,882
- Tax, wage and social debts -€10,914
down €10,914 (-19.8%), from €55,059 to €44,145
of which Taxes: -€7,531
- Other debts -€5,000
down €5,000 (-5.6%), from €90,000 to €85,000
- Profit (loss) carried forward +€3,076
up €3,076 (+75.1%), from €4,095 to €7,170
- Staff costs +€55,498
up €55,498 (+25.9%), from €214,444 to €269,942
- Gross operating margin +€49,344
up €49,344 (+16.6%), from €296,554 to €345,898
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 | €254,239 | €218,847 | -€35,392 | -13.9% |
| Fixed assets | 21/28 | €2,079 | €999 | -€1,080 | -51.9% |
| Tangible fixed assets | 22/27 | €2,079 | €999 | -€1,080 | -51.9% |
| Furniture and vehicles | 24 | €1,705 | €812 | -€893 | -52.4% |
| Other tangible fixed assets | 26 | €373 | €187 | -€187 | -50.0% |
| Current assets | 29/58 | €252,160 | €217,848 | -€34,312 | -13.6% |
| Stocks and contracts in progress | 3 | €88,064 | €103,035 | +€14,971 | +17.0% |
| Stocks | 30/36 | €88,064 | €103,035 | +€14,971 | +17.0% |
| Amounts receivable within one year | 40/41 | €41,616 | €46,965 | +€5,348 | +12.9% |
| Trade receivables | 40 | €41,616 | €46,371 | +€4,755 | +11.4% |
| Other amounts receivable | 41 | - | €593 | +€593 | |
| Cash at bank and in hand | 54/58 | €122,480 | €67,849 | -€54,631 | -44.6% |
| Total equity and liabilities | 10/49 | €254,239 | €218,847 | -€35,392 | -13.9% |
| Equity | 10/15 | €71,745 | €74,820 | +€3,076 | +4.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,095 | €7,170 | +€3,076 | +75.1% |
| Amounts payable | 17/49 | €182,494 | €144,027 | -€38,468 | -21.1% |
| Amounts payable within one year | 42/48 | €182,494 | €144,027 | -€38,468 | -21.1% |
| Trade debts | 44 | €37,435 | €14,882 | -€22,553 | -60.2% |
| Suppliers | 440/4 | €37,435 | €14,882 | -€22,553 | -60.2% |
| Taxes, remuneration and social security | 45 | €55,059 | €44,145 | -€10,914 | -19.8% |
| Taxes | 450/3 | €29,071 | €21,540 | -€7,531 | -25.9% |
| Remuneration and social security | 454/9 | €25,988 | €22,605 | -€3,383 | -13.0% |
| Other amounts payable | 47/48 | €90,000 | €85,000 | -€5,000 | -5.6% |
| Remuneration, social security and pensions | 62 | €214,444 | €269,942 | +€55,498 | +25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,121 | €1,080 | -€42 | -3.7% |
| Other operating charges | 640/8 | €723 | €717 | -€6 | -0.8% |
| Gross operating margin | 9900 | €296,554 | €345,898 | +€49,344 | +16.6% |
| Operating profit (loss) | 9901 | €80,265 | €74,159 | -€6,106 | -7.6% |
| Financial income | 75/76B | €26,970 | €26,164 | -€806 | -3.0% |
| Recurring financial income | 75 | €26,970 | €26,164 | -€806 | -3.0% |
| Financial charges | 65/66B | €7,104 | €7,841 | +€736 | +10.4% |
| Recurring financial charges | 65 | €7,104 | €7,841 | +€736 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €100,131 | €92,482 | -€7,649 | -7.6% |
| Income taxes | 67/77 | €4,409 | €4,407 | -€3 | -0.1% |
| Profit (loss) for the period | 9904 | €95,722 | €88,076 | -€7,646 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €95,722 | €88,076 | -€7,646 | -8.0% |
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 28 September 2026 via checked.be.