REX work & safety: 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 work & safety
Largest movements
- Stocks and contracts -€19,187
down €19,187 (-64.3%), from €29,842 to €10,655
- Tangible fixed assets -€12,043
down €12,043 (-72.4%), from €16,627 to €4,584
of which Land and buildings: -€6,155
- Intangible fixed assets +€10,200
up €10,200 (+16.8%), from €60,561 to €70,761
- Deferred charges and accrued income -€8,778
down €8,778 (-82.5%), from €10,639 to €1,861
- Receivables within one year +€4,107
up €4,107 (+3.5%), from €117,759 to €121,866
of which Trade receivables: +€2,253
- Trade debts -€34,793
down €34,793 (-49.0%), from €70,968 to €36,175
- Profit (loss) carried forward +€26,499
up €26,499 (+34.9%), from €76,001 to €102,500
- Short-term financial debts -€13,000
down €13,000 (-43.3%), from €30,000 to €17,000
- Accrued charges and deferred income +€5,430
up €5,430 (+110.8%), from €4,898 to €10,328
- Tax, wage and social debts -€3,344
down €3,344 (-13.1%), from €25,618 to €22,274
of which Taxes: -€1,920
- Gross operating margin +€42,699
up €42,699 (+77.5%), from €55,071 to €97,770
- Taxes +€8,173
up €8,173 (+806.6%), from €1,013 to €9,186
- Staff costs -€6,866
down €6,866 (-16.5%), from €41,576 to €34,710
- Other operating charges +€3,671
up €3,671 (+294.6%), from €1,246 to €4,918
- Financial income -€1,097
down €1,097 (-52.3%), from €2,096 to €999
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 | €243,789 | €220,892 | -€22,897 | -9.4% |
| Fixed assets | 21/28 | €83,939 | €82,095 | -€1,843 | -2.2% |
| Intangible fixed assets | 21 | €60,561 | €70,761 | +€10,200 | +16.8% |
| Tangible fixed assets | 22/27 | €16,627 | €4,584 | -€12,043 | -72.4% |
| Land and buildings | 22 | €6,155 | - | -€6,155 | |
| Plant, machinery and equipment | 23 | €10,473 | €4,584 | -€5,889 | -56.2% |
| Financial fixed assets | 28 | €6,750 | €6,750 | = | 0.0% |
| Current assets | 29/58 | €159,850 | €138,797 | -€21,053 | -13.2% |
| Stocks and contracts in progress | 3 | €29,842 | €10,655 | -€19,187 | -64.3% |
| Stocks | 30/36 | €29,842 | €10,655 | -€19,187 | -64.3% |
| Amounts receivable within one year | 40/41 | €117,759 | €121,866 | +€4,107 | +3.5% |
| Trade receivables | 40 | €99,187 | €101,440 | +€2,253 | +2.3% |
| Other amounts receivable | 41 | €18,572 | €20,425 | +€1,854 | +10.0% |
| Cash at bank and in hand | 54/58 | €1,611 | €4,415 | +€2,804 | +174.1% |
| Deferred charges and accrued income | 490/1 | €10,639 | €1,861 | -€8,778 | -82.5% |
| Total equity and liabilities | 10/49 | €243,789 | €220,892 | -€22,897 | -9.4% |
| Equity | 10/15 | €106,001 | €132,500 | +€26,499 | +25.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,001 | €102,500 | +€26,499 | +34.9% |
| Amounts payable | 17/49 | €137,788 | €88,392 | -€49,396 | -35.8% |
| Amounts payable after more than one year | 17 | €2,615 | €424 | -€2,192 | -83.8% |
| Financial debts | 170/4 | €2,615 | €424 | -€2,192 | -83.8% |
| Amounts payable within one year | 42/48 | €130,274 | €77,641 | -€52,634 | -40.4% |
| Current portion of amounts payable after more than one year | 42 | €3,688 | €2,192 | -€1,497 | -40.6% |
| Financial debts | 43 | €30,000 | €17,000 | -€13,000 | -43.3% |
| Credit institutions | 430/8 | €30,000 | €17,000 | -€13,000 | -43.3% |
| Trade debts | 44 | €70,968 | €36,175 | -€34,793 | -49.0% |
| Suppliers | 440/4 | €70,968 | €36,175 | -€34,793 | -49.0% |
| Taxes, remuneration and social security | 45 | €25,618 | €22,274 | -€3,344 | -13.1% |
| Taxes | 450/3 | €21,226 | €19,306 | -€1,920 | -9.0% |
| Remuneration and social security | 454/9 | €4,391 | €2,968 | -€1,424 | -32.4% |
| Accrued charges and deferred income | 492/3 | €4,898 | €10,328 | +€5,430 | +110.8% |
| Remuneration, social security and pensions | 62 | €41,576 | €34,710 | -€6,866 | -16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,565 | €12,173 | -€392 | -3.1% |
| Other operating charges | 640/8 | €1,246 | €4,918 | +€3,671 | +294.6% |
| Non-recurring operating charges | 66A | - | €7,671 | +€7,671 | |
| Gross operating margin | 9900 | €55,071 | €97,770 | +€42,699 | +77.5% |
| Operating profit (loss) | 9901 | -€317 | €38,299 | +€38,616 | |
| Financial income | 75/76B | €2,096 | €999 | -€1,097 | -52.3% |
| Recurring financial income | 75 | €2,096 | €999 | -€1,097 | -52.3% |
| Financial charges | 65/66B | €4,093 | €3,613 | -€480 | -11.7% |
| Recurring financial charges | 65 | €4,093 | €3,613 | -€480 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,314 | €35,685 | +€37,999 | |
| Income taxes | 67/77 | €1,013 | €9,186 | +€8,173 | +806.6% |
| Profit (loss) for the period | 9904 | -€3,327 | €26,499 | +€29,826 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,327 | €26,499 | +€29,826 |
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.