REYNAERT: 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.
REYNAERT
Largest movements
- Stocks and contracts +€199,967
up €199,967 (+44.9%), from €445,478 to €645,445
- Cash -€190,624
down €190,624 (-67.8%), from €281,114 to €90,489
mainly Other debts (-€239,525) and Stocks and contracts (-€199,967)
- Current investments -€90,000
down €90,000 (-36.0%), from €250,000 to €160,000
- Tangible fixed assets +€67,049
up €67,049 (+46.0%), from €145,872 to €212,921
of which Land and buildings: +€36,004
- Deferred charges and accrued income +€20,667
up €20,667 (+53.6%), from €38,557 to €59,224
- Other debts -€239,525
down €239,525 (-54.8%), from €436,887 to €197,363
- Reserves +€231,971
up €231,971 (+19.7%), from €1.2m to €1.4m
of which Distributable reserves: +€126,721
- Staff costs +€91,924
up €91,924 (+46.1%), from €199,497 to €291,420
- Taxes -€44,729
down €44,729 (-32.6%), from €137,107 to €92,378
- Gross operating margin -€17,168
down €17,168 (-2.4%), from €702,983 to €685,815
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 | €1,780,573 | €1,783,361 | +€2,788 | +0.2% |
| Fixed assets | 21/28 | €151,024 | €215,570 | +€64,546 | +42.7% |
| Intangible fixed assets | 21 | €4,999 | €2,496 | -€2,503 | -50.1% |
| Tangible fixed assets | 22/27 | €145,872 | €212,921 | +€67,049 | +46.0% |
| Land and buildings | 22 | €49,532 | €85,535 | +€36,004 | +72.7% |
| Plant, machinery and equipment | 23 | €9,431 | €40,773 | +€31,342 | +332% |
| Furniture and vehicles | 24 | €86,910 | €86,613 | -€297 | -0.3% |
| Financial fixed assets | 28 | €153 | €153 | = | 0.0% |
| Current assets | 29/58 | €1,629,549 | €1,567,791 | -€61,758 | -3.8% |
| Stocks and contracts in progress | 3 | €445,478 | €645,445 | +€199,967 | +44.9% |
| Stocks | 30/36 | €445,478 | €645,445 | +€199,967 | +44.9% |
| Amounts receivable within one year | 40/41 | €614,400 | €612,632 | -€1,768 | -0.3% |
| Trade receivables | 40 | €614,400 | €603,457 | -€10,943 | -1.8% |
| Other amounts receivable | 41 | - | €9,174 | +€9,174 | |
| Current investments | 50/53 | €250,000 | €160,000 | -€90,000 | -36.0% |
| Cash at bank and in hand | 54/58 | €281,114 | €90,489 | -€190,624 | -67.8% |
| Deferred charges and accrued income | 490/1 | €38,557 | €59,224 | +€20,667 | +53.6% |
| Total equity and liabilities | 10/49 | €1,780,573 | €1,783,361 | +€2,788 | +0.2% |
| Equity | 10/15 | €1,196,526 | €1,428,497 | +€231,971 | +19.4% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,177,526 | €1,409,497 | +€231,971 | +19.7% |
| Tax-exempt reserves | 132 | - | €105,250 | +€105,250 | |
| Distributable reserves | 133 | €1,177,526 | €1,304,247 | +€126,721 | +10.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €584,047 | €354,864 | -€229,183 | -39.2% |
| Amounts payable within one year | 42/48 | €574,710 | €336,913 | -€237,797 | -41.4% |
| Trade debts | 44 | €77,412 | €78,504 | +€1,092 | +1.4% |
| Suppliers | 440/4 | €77,412 | €78,504 | +€1,092 | +1.4% |
| Taxes, remuneration and social security | 45 | €60,411 | €61,047 | +€636 | +1.1% |
| Taxes | 450/3 | €46,004 | €18,093 | -€27,910 | -60.7% |
| Remuneration and social security | 454/9 | €14,407 | €42,954 | +€28,546 | +198% |
| Other amounts payable | 47/48 | €436,887 | €197,363 | -€239,525 | -54.8% |
| Accrued charges and deferred income | 492/3 | €9,337 | €17,951 | +€8,614 | +92.3% |
| Non-recurring operating income | 76A | €0 | €4,480 | +€4,480 | |
| Remuneration, social security and pensions | 62 | €199,497 | €291,420 | +€91,924 | +46.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,644 | €51,100 | +€4,456 | +9.6% |
| Other operating charges | 640/8 | €3,382 | €3,403 | +€21 | +0.6% |
| Gross operating margin | 9900 | €702,983 | €685,815 | -€17,168 | -2.4% |
| Operating profit (loss) | 9901 | €453,461 | €339,892 | -€113,568 | -25.0% |
| Financial income | 75/76B | €7,501 | €5,925 | -€1,576 | -21.0% |
| Recurring financial income | 75 | €7,501 | €5,925 | -€1,576 | -21.0% |
| Financial charges | 65/66B | €24,939 | €21,469 | -€3,470 | -13.9% |
| Recurring financial charges | 65 | €24,939 | €21,469 | -€3,470 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €436,023 | €324,348 | -€111,674 | -25.6% |
| Income taxes | 67/77 | €137,107 | €92,378 | -€44,729 | -32.6% |
| Profit (loss) for the period | 9904 | €298,916 | €231,971 | -€66,945 | -22.4% |
| Transfer to tax-exempt reserves | 689 | - | €105,250 | +€105,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €298,916 | €126,721 | -€172,195 | -57.6% |
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 13 October 2026 via checked.be.