REX IMMO: 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 IMMO
Largest movements
- Stocks and contracts +€2.0m
new in 2025: €2.0m
- Cash -€36,951
down €36,951 (-93.3%), from €39,598 to €2,647
mainly Stocks and contracts (-€2.0m) and Net result for the year (-€30,327)
- Debts after one year +€928,007
up €928,007 (+294.9%), from €314,681 to €1.2m
- Other debts +€510,072
up €510,072 (+263.7%), from €193,456 to €703,528
- Short-term financial debts +€450,000
new in 2025: €450,000
- Current portion of long-term debt +€55,256
up €55,256 (+330.1%), from €16,737 to €71,993
- Reserves -€30,327
down €30,327 (-71.1%), from €42,651 to €12,324
- Gross operating margin -€48,194
down €48,194, from €48,014 to -€180
- Other operating charges -€5,300
down €5,300 (-52.6%), from €10,067 to €4,767
- Taxes -€2,033
no longer reported in 2025 (was €2,033)
- Financial charges +€846
up €846 (+8.9%), from €9,476 to €10,322
- Depreciation +€656
up €656 (+4.6%), from €14,402 to €15,058
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 | €602,787 | €2,513,945 | +€1.9m | +317.1% |
| Fixed assets | 21/28 | €548,366 | €533,308 | -€15,058 | -2.7% |
| Tangible fixed assets | 22/27 | €548,366 | €533,308 | -€15,058 | -2.7% |
| Land and buildings | 22 | €548,366 | €533,308 | -€15,058 | -2.7% |
| Current assets | 29/58 | €54,421 | €1,980,637 | +€1.9m | +3539.5% |
| Stocks and contracts in progress | 3 | - | €1,968,196 | +€2.0m | |
| Stocks | 30/36 | - | €1,968,196 | +€2.0m | |
| Amounts receivable within one year | 40/41 | €314 | €9,794 | +€9,480 | +3015.8% |
| Trade receivables | 40 | - | €6,122 | +€6,122 | |
| Other amounts receivable | 41 | €314 | €3,673 | +€3,358 | +1068.3% |
| Cash at bank and in hand | 54/58 | €39,598 | €2,647 | -€36,951 | -93.3% |
| Deferred charges and accrued income | 490/1 | €14,509 | - | -€14,509 | |
| Total equity and liabilities | 10/49 | €602,787 | €2,513,945 | +€1.9m | +317.1% |
| Equity | 10/15 | €66,651 | €36,324 | -€30,327 | -45.5% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €42,651 | €12,324 | -€30,327 | -71.1% |
| Distributable reserves | 133 | €42,651 | €12,324 | -€30,327 | -71.1% |
| Amounts payable | 17/49 | €536,136 | €2,477,621 | +€1.9m | +362.1% |
| Amounts payable after more than one year | 17 | €314,681 | €1,242,688 | +€928,007 | +294.9% |
| Financial debts | 170/4 | €314,681 | €1,242,688 | +€928,007 | +294.9% |
| Amounts payable within one year | 42/48 | €219,539 | €1,234,933 | +€1.0m | +462.5% |
| Current portion of amounts payable after more than one year | 42 | €16,737 | €71,993 | +€55,256 | +330.1% |
| Financial debts | 43 | - | €450,000 | +€450,000 | |
| Credit institutions | 430/8 | - | €450,000 | +€450,000 | |
| Trade debts | 44 | €7,313 | €7,380 | +€66 | +0.9% |
| Suppliers | 440/4 | €7,313 | €7,380 | +€66 | +0.9% |
| Taxes, remuneration and social security | 45 | €2,033 | €2,033 | = | 0.0% |
| Taxes | 450/3 | €2,033 | €2,033 | = | 0.0% |
| Other amounts payable | 47/48 | €193,456 | €703,528 | +€510,072 | +263.7% |
| Accrued charges and deferred income | 492/3 | €1,917 | - | -€1,917 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,402 | €15,058 | +€656 | +4.6% |
| Other operating charges | 640/8 | €10,067 | €4,767 | -€5,300 | -52.6% |
| Gross operating margin | 9900 | €48,014 | -€180 | -€48,194 | |
| Operating profit (loss) | 9901 | €23,545 | -€20,005 | -€43,550 | |
| Financial charges | 65/66B | €9,476 | €10,322 | +€846 | +8.9% |
| Recurring financial charges | 65 | €9,476 | €10,322 | +€846 | +8.9% |
| Profit (loss) for the period before taxes | 9903 | €14,069 | -€30,327 | -€44,396 | |
| Income taxes | 67/77 | €2,033 | - | -€2,033 | |
| Profit (loss) for the period | 9904 | €12,036 | -€30,327 | -€42,363 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,036 | -€30,327 | -€42,363 |
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 7 October 2026 via checked.be.