REX Panels & Profiles: what changed
What changed
REX Panels & Profiles
NACE 24.100, Manufacture of basic metals
filed annual accounts (NBB)
Net result for the year
-€7.8m
2024 · -€5.2m-€2.6m
Equity
-€798,380
2024 · -€5.3m+€4.5m
Cash
€3.1m
2024 · €888,907+€2.2m
Balance sheet total
€54.9m
2024 · €55.7m-€786,022
Largest movements
Assets
- Stocks and contracts -€2.3m
down €2.3m (-19.6%), from €11.5m to €9.3m
- Cash +€2.2m
up €2.2m (+244%), from €888,907 to €3.1m
mainly Contributions, distributions and other (+€12.4m) and Depreciation (+€4.8m)
- Tangible fixed assets -€2.2m
down €2.2m (-6.5%), from €33.1m to €31.0m
- Receivables within one year +€805,249
up €805,249 (+8.5%), from €9.5m to €10.3m
of which Trade receivables: +€1.1m
Equity and liabilities
- Contributions +€12.5m
up €12.5m (+433%), from €2.9m to €15.4m
- Profit (loss) carried forward -€7.8m
down €7.8m (-73.5%), from -€10.7m to -€18.5m
- Debts after one year -€4.3m
down €4.3m (-11.1%), from €39.1m to €34.7m
- Trade debts -€1.9m
down €1.9m (-16.7%), from €11.6m to €9.6m
- Short-term financial debts +€1.5m
up €1.5m (+43.7%), from €3.5m to €5.1m
Income statement
- Turnover +€5.7m
up €5.7m (+10.0%), from €57.4m to €63.1m
- Goods and materials +€2.1m
up €2.1m (+4.7%), from €44.7m to €46.8m
of which Change in stocks: decrease (increase): +€1.6m
- Staff costs +€1.8m
up €1.8m (+45.7%), from €4.0m to €5.8m
- Provisions +€937,257
up €937,257 (+78.0%), from -€1.2m to -€263,955
- Write-downs +€779,421
up €779,421, from -€768,879 to €10,542
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€5.2m
Turnover
+€5.7m
Other operating income
+€771,005
Goods and materials
-€2.1m
Services and other goods
-€667,904
Staff costs
-€1.8m
Depreciation
-€385,980
Write-downs
-€779,421
Provisions
-€937,257
Other operating charges
-€605,447
Other operating items
-€1.4m
Financial income
-€160,294
Financial charges
+€134,215
Taxes
-€327,934
Result 2025
-€7.8m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€3.6m
Investment
-€3.0m
Financing
+€8.8m
Cash 2024
€888,907
From operations (derived)
-€3.6m
Net result for the year
-€7.8m
Depreciation
+€4.8m
Stocks and contracts
+€2.3m
Receivables within one year
-€805,249
Deferred charges and accrued income
-€238,317
Provisions
+€62,045
Trade debts
-€1.9m
Tax, wage and social debts
+€310,558
Advances received
-€190,474
Smaller working-capital items
+€7,377
Investment (derived)
-€3.0m
Investment in fixed assets (net)
-€3.0m
Financing
+€8.8m
Debts after one year
-€4.3m
Current portion of long-term debt
-€784,453
Short-term financial debts
+€1.5m
Contributions, distributions and other
+€12.4m
Cash 2025
€3.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €55,677,034 | €54,891,012 | -€786,022 | -1.4% |
| Fixed assets | 21/28 | €33,694,650 | €31,957,572 | -€1.7m | -5.2% |
| Intangible fixed assets | 21 | €561,374 | €987,116 | +€425,742 | +75.8% |
| Tangible fixed assets | 22/27 | €33,115,356 | €30,952,535 | -€2.2m | -6.5% |
| Land and buildings | 22 | €18,723,778 | €17,952,644 | -€771,134 | -4.1% |
| Plant, machinery and equipment | 23 | €5,168,416 | €4,451,346 | -€717,070 | -13.9% |
| Furniture and vehicles | 24 | €562,173 | €409,478 | -€152,695 | -27.2% |
| Leasing and similar rights | 25 | €8,660,989 | €8,139,067 | -€521,922 | -6.0% |
| Financial fixed assets | 28 | €17,921 | €17,921 | = | 0.0% |
| Other financial fixed assets | 284/8 | €17,921 | €17,921 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €17,921 | €17,921 | = | 0.0% |
| Current assets | 29/58 | €21,982,384 | €22,933,440 | +€951,056 | +4.3% |
| Stocks and contracts in progress | 3 | €11,511,055 | €9,253,877 | -€2.3m | -19.6% |
| Stocks | 30/36 | €11,511,055 | €9,253,877 | -€2.3m | -19.6% |
| Raw materials and consumables | 30/31 | €9,174,462 | €7,392,257 | -€1.8m | -19.4% |
| Finished goods | 33 | €1,731,699 | €1,184,658 | -€547,042 | -31.6% |
| Goods purchased for resale | 34 | €604,894 | €676,963 | +€72,069 | +11.9% |
| Amounts receivable within one year | 40/41 | €9,502,494 | €10,307,743 | +€805,249 | +8.5% |
| Trade receivables | 40 | €8,879,708 | €10,001,264 | +€1.1m | +12.6% |
| Other amounts receivable | 41 | €622,786 | €306,479 | -€316,307 | -50.8% |
| Cash at bank and in hand | 54/58 | €888,907 | €3,053,574 | +€2.2m | +244% |
| Deferred charges and accrued income | 490/1 | €79,928 | €318,246 | +€238,317 | +298% |
| Total equity and liabilities | 10/49 | €55,677,034 | €54,891,012 | -€786,022 | -1.4% |
| Equity | 10/15 | -€5,329,527 | -€798,380 | +€4.5m | +85.0% |
| Contributions | 10/11 | €2,885,000 | €15,385,000 | +€12.5m | +433% |
| Capital | 10 | €2,885,000 | €15,385,000 | +€12.5m | +433% |
| Issued capital | 100 | €2,885,000 | €15,385,000 | +€12.5m | +433% |
| Reserves | 13 | €1,786,461 | €1,786,461 | = | 0.0% |
| Non-distributable reserves | 130/1 | €288,500 | €288,500 | = | 0.0% |
| Legal reserve | 130 | €288,500 | €288,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,497,961 | €1,497,961 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,651,998 | -€18,478,191 | -€7.8m | -73.5% |
| Investment grants | 15 | €651,009 | €508,351 | -€142,659 | -21.9% |
| Provisions and deferred taxes | 16 | €493,297 | €555,342 | +€62,045 | +12.6% |
| Provisions for liabilities and charges | 160/5 | €493,297 | €555,342 | +€62,045 | +12.6% |
| Other liabilities and charges | 164/5 | €493,297 | €555,342 | +€62,045 | +12.6% |
| Amounts payable | 17/49 | €60,513,264 | €55,134,049 | -€5.4m | -8.9% |
| Amounts payable after more than one year | 17 | €39,064,258 | €34,727,618 | -€4.3m | -11.1% |
| Financial debts | 170/4 | €39,064,258 | €34,727,618 | -€4.3m | -11.1% |
| Subordinated loans | 170 | €4,489,835 | €3,506,578 | -€983,257 | -21.9% |
| Leasing and similar obligations | 172 | €6,918,131 | €4,812,347 | -€2.1m | -30.4% |
| Credit institutions | 173 | €10,756,291 | €9,508,693 | -€1.2m | -11.6% |
| Other loans | 174 | €16,900,000 | €16,900,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €20,935,350 | €19,885,310 | -€1.1m | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €5,196,901 | €4,412,448 | -€784,453 | -15.1% |
| Financial debts | 43 | €3,530,598 | €5,072,421 | +€1.5m | +43.7% |
| Other loans | 439 | €3,530,598 | €5,072,421 | +€1.5m | +43.7% |
| Trade debts | 44 | €11,554,972 | €9,627,566 | -€1.9m | -16.7% |
| Suppliers | 440/4 | €11,554,972 | €9,627,566 | -€1.9m | -16.7% |
| Advances received on contracts in progress | 46 | €190,474 | - | -€190,474 | |
| Taxes, remuneration and social security | 45 | €462,317 | €772,874 | +€310,558 | +67.2% |
| Taxes | 450/3 | €12,430 | €7,808 | -€4,623 | -37.2% |
| Remuneration and social security | 454/9 | €449,886 | €765,067 | +€315,181 | +70.1% |
| Other amounts payable | 47/48 | €88 | - | -€88 | |
| Accrued charges and deferred income | 492/3 | €513,657 | €521,122 | +€7,465 | +1.5% |
| Operating income | 70/76A | €58,325,084 | €63,401,476 | +€5.1m | +8.7% |
| Turnover | 70 | €57,356,641 | €63,087,639 | +€5.7m | +10.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €876,342 | -€547,042 | -€1.4m | |
| Other operating income | 74 | €59,064 | €830,069 | +€771,005 | +1,305% |
| Non-recurring operating income | 76A | €33,036 | €30,810 | -€2,226 | -6.7% |
| Operating charges | 60/66A | €61,648,918 | €68,950,559 | +€7.3m | +11.8% |
| Goods for resale, raw materials and consumables | 60 | €44,663,790 | €46,758,863 | +€2.1m | +4.7% |
| Purchases | 600/8 | €44,519,144 | €45,048,727 | +€529,583 | +1.2% |
| Change in stocks: decrease (increase) | 609 | €144,646 | €1,710,136 | +€1.6m | +1,082% |
| Services and other goods | 61 | €10,094,687 | €10,762,591 | +€667,904 | +6.6% |
| Remuneration, social security and pensions | 62 | €3,975,414 | €5,793,723 | +€1.8m | +45.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,397,881 | €4,783,861 | +€385,980 | +8.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€768,879 | €10,542 | +€779,421 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€1,201,212 | -€263,955 | +€937,257 | +78.0% |
| Other operating charges | 640/8 | €487,237 | €1,092,685 | +€605,447 | +124% |
| Non-recurring operating charges | 66A | - | €12,250 | +€12,250 | |
| Operating profit (loss) | 9901 | -€3,323,834 | -€5,549,083 | -€2.2m | -66.9% |
| Financial income | 75/76B | €315,732 | €155,438 | -€160,294 | -50.8% |
| Recurring financial income | 75 | €315,732 | €155,438 | -€160,294 | -50.8% |
| Income from financial fixed assets | 750 | €3,837 | €2,411 | -€1,425 | -37.2% |
| Other financial income | 752/9 | €311,895 | €153,027 | -€158,868 | -50.9% |
| Financial charges | 65/66B | €2,228,471 | €2,094,256 | -€134,215 | -6.0% |
| Recurring financial charges | 65 | €2,081,125 | €2,048,858 | -€32,267 | -1.6% |
| Debt charges | 650 | €1,643,787 | €1,626,220 | -€17,567 | -1.1% |
| Other financial charges | 652/9 | €437,338 | €422,639 | -€14,699 | -3.4% |
| Non-recurring financial charges | 66B | €147,346 | €45,398 | -€101,948 | -69.2% |
| Profit (loss) for the period before taxes | 9903 | -€5,236,573 | -€7,487,901 | -€2.3m | -43.0% |
| Income taxes | 67/77 | €10,358 | €338,292 | +€327,934 | +3,166% |
| Taxes | 670/3 | €10,358 | €338,292 | +€327,934 | +3,166% |
| Profit (loss) for the period | 9904 | -€5,246,931 | -€7,826,194 | -€2.6m | -49.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,246,931 | -€7,826,194 | -€2.6m | -49.2% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.