REY: 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.
REY
Largest movements
- Tangible fixed assets -€10,754
down €10,754 (-6.4%), from €168,689 to €157,935
- Reserves +€11,481
up €11,481 (+4.3%), from €265,426 to €276,906
- Financial income -€12,228
down €12,228 (-59.1%), from €20,672 to €8,445
- Depreciation -€4,198
down €4,198 (-28.1%), from €14,952 to €10,754
- Gross operating margin +€2,935
up €2,935 (+10.4%), from €28,105 to €31,040
- Other operating charges -€966
down €966 (-14.2%), from €6,823 to €5,858
- Taxes +€559
up €559 (+8.3%), from €6,728 to €7,287
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 | €697,169 | €701,640 | +€4,471 | +0.6% |
| Fixed assets | 21/28 | €168,689 | €157,935 | -€10,754 | -6.4% |
| Tangible fixed assets | 22/27 | €168,689 | €157,935 | -€10,754 | -6.4% |
| Land and buildings | 22 | €168,689 | €157,935 | -€10,754 | -6.4% |
| Current assets | 29/58 | €528,480 | €543,705 | +€15,225 | +2.9% |
| Amounts receivable within one year | 40/41 | €14,489 | €17,762 | +€3,273 | +22.6% |
| Trade receivables | 40 | €6,812 | €15,250 | +€8,438 | +123.9% |
| Other amounts receivable | 41 | €7,677 | €2,512 | -€5,165 | -67.3% |
| Current investments | 50/53 | €464,469 | €470,407 | +€5,937 | +1.3% |
| Cash at bank and in hand | 54/58 | €48,214 | €50,853 | +€2,639 | +5.5% |
| Deferred charges and accrued income | 490/1 | €1,307 | €4,683 | +€3,375 | +258.1% |
| Total equity and liabilities | 10/49 | €697,169 | €701,640 | +€4,471 | +0.6% |
| Equity | 10/15 | €619,926 | €631,406 | +€11,481 | +1.9% |
| Contributions | 10/11 | €354,500 | €354,500 | = | 0.0% |
| Reserves | 13 | €265,426 | €276,906 | +€11,481 | +4.3% |
| Distributable reserves | 133 | €265,426 | €276,906 | +€11,481 | +4.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €77,244 | €70,234 | -€7,010 | -9.1% |
| Amounts payable within one year | 42/48 | €61,532 | €59,295 | -€2,237 | -3.6% |
| Trade debts | 44 | €147 | €3,276 | +€3,129 | +2127.8% |
| Suppliers | 440/4 | €147 | €3,276 | +€3,129 | +2127.8% |
| Taxes, remuneration and social security | 45 | €4,228 | €5,528 | +€1,300 | +30.7% |
| Taxes | 450/3 | €4,228 | €5,528 | +€1,300 | +30.7% |
| Other amounts payable | 47/48 | €57,157 | €50,492 | -€6,665 | -11.7% |
| Accrued charges and deferred income | 492/3 | €15,712 | €10,938 | -€4,773 | -30.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,952 | €10,754 | -€4,198 | -28.1% |
| Other operating charges | 640/8 | €6,823 | €5,858 | -€966 | -14.2% |
| Gross operating margin | 9900 | €28,105 | €31,040 | +€2,935 | +10.4% |
| Operating profit (loss) | 9901 | €6,330 | €14,428 | +€8,098 | +127.9% |
| Financial income | 75/76B | €20,672 | €8,445 | -€12,228 | -59.1% |
| Recurring financial income | 75 | €20,672 | €8,445 | -€12,228 | -59.1% |
| Financial charges | 65/66B | €3,550 | €4,105 | +€555 | +15.6% |
| Recurring financial charges | 65 | €3,550 | €4,105 | +€555 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | €23,452 | €18,768 | -€4,684 | -20.0% |
| Income taxes | 67/77 | €6,728 | €7,287 | +€559 | +8.3% |
| Profit (loss) for the period | 9904 | €16,724 | €11,481 | -€5,243 | -31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,724 | €11,481 | -€5,243 | -31.4% |
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 1 October 2026 via checked.be.