REYFRA: what changed
Two financial 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.
REYFRA
Largest movements
- Receivables within one year +€501,066
up €501,066 (+115%), from €434,412 to €935,478
of which Other amounts receivable: +€511,488
- Cash -€461,892
down €461,892 (-79.1%), from €583,786 to €121,894
mainly Receivables within one year (-€501,066) and Investment in fixed assets (net) (-€10,299)
- Stocks and contracts -€33,000
down €33,000 (-73.3%), from €45,000 to €12,000
- Tax, wage and social debts +€22,637
new in 2025: €22,637
- Gross operating margin +€50,808
up €50,808, from -€21,138 to €29,670
- Taxes +€24,914
up €24,914 (+147%), from €16,968 to €41,882
- Financial income +€13,098
up €13,098 (+147%), from €8,895 to €21,993
of which Financial income: +€13,098
- Depreciation -€8,141
down €8,141 (-52.8%), from €15,413 to €7,272
- Other operating charges +€4,728
up €4,728 (+103%), from €4,577 to €9,305
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.
Derived cash bridge
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 | €1,112,214 | €1,121,086 | +€8,872 | +0.8% |
| Fixed assets | 21/28 | €48,687 | €51,714 | +€3,027 | +6.2% |
| Tangible fixed assets | 22/27 | €48,687 | €51,714 | +€3,027 | +6.2% |
| Furniture and vehicles | 24 | €48,687 | €51,714 | +€3,027 | +6.2% |
| Current assets | 29/58 | €1,063,527 | €1,069,372 | +€5,845 | +0.5% |
| Stocks and contracts in progress | 3 | €45,000 | €12,000 | -€33,000 | -73.3% |
| Stocks | 30/36 | €45,000 | €12,000 | -€33,000 | -73.3% |
| Amounts receivable within one year | 40/41 | €434,412 | €935,478 | +€501,066 | +115% |
| Trade receivables | 40 | €10,797 | €375 | -€10,422 | -96.5% |
| Other amounts receivable | 41 | €423,615 | €935,103 | +€511,488 | +121% |
| Cash at bank and in hand | 54/58 | €583,786 | €121,894 | -€461,892 | -79.1% |
| Deferred charges and accrued income | 490/1 | €329 | - | -€329 | |
| Total equity and liabilities | 10/49 | €1,112,214 | €1,121,086 | +€8,872 | +0.8% |
| Equity | 10/15 | €1,093,856 | €1,083,883 | -€9,973 | -0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €728,931 | €728,931 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €727,071 | €727,071 | = | 0.0% |
| Profit (loss) carried forward | 14 | €346,325 | €336,352 | -€9,973 | -2.9% |
| Amounts payable | 17/49 | €18,358 | €37,203 | +€18,845 | +103% |
| Amounts payable within one year | 42/48 | €18,358 | €37,203 | +€18,845 | +103% |
| Financial debts | 43 | €6,000 | €5,000 | -€1,000 | -16.7% |
| Credit institutions | 430/8 | €6,000 | €5,000 | -€1,000 | -16.7% |
| Trade debts | 44 | €2,792 | - | -€2,792 | |
| Suppliers | 440/4 | €2,792 | - | -€2,792 | |
| Taxes, remuneration and social security | 45 | - | €22,637 | +€22,637 | |
| Taxes | 450/3 | - | €22,637 | +€22,637 | |
| Other amounts payable | 47/48 | €9,566 | €9,566 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,413 | €7,272 | -€8,141 | -52.8% |
| Other operating charges | 640/8 | €4,577 | €9,305 | +€4,728 | +103% |
| Gross operating margin | 9900 | -€21,138 | €29,670 | +€50,808 | |
| Operating profit (loss) | 9901 | -€41,128 | €13,093 | +€54,221 | |
| Financial income | 75/76B | €8,895 | €21,993 | +€13,098 | +147% |
| Recurring financial income | 75 | €8,895 | €21,993 | +€13,098 | +147% |
| Non-recurring financial income | 76B | €8,895 | €21,993 | +€13,098 | +147% |
| Financial charges | 65/66B | €1,478 | €3,177 | +€1,699 | +115% |
| Recurring financial charges | 65 | €1,478 | €1,990 | +€512 | +34.6% |
| Non-recurring financial charges | 66B | - | €1,187 | +€1,187 | |
| Profit (loss) for the period before taxes | 9903 | -€33,711 | €31,909 | +€65,620 | |
| Income taxes | 67/77 | €16,968 | €41,882 | +€24,914 | +147% |
| Profit (loss) for the period | 9904 | -€50,679 | -€9,973 | +€40,706 | +80.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,679 | -€9,973 | +€40,706 | +80.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.