REYNVOET CONSULT: 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.
REYNVOET CONSULT
Largest movements
- Tangible fixed assets +€454,888
up €454,888 (+140%), from €326,013 to €780,901
of which Land and buildings: +€454,573
- Receivables within one year -€169,741
down €169,741 (-80.5%), from €210,911 to €41,170
of which Trade receivables: -€120,190
- Cash +€110,493
up €110,493 (+200%), from €55,327 to €165,821
mainly Net result for the year (+€334,019) and Debts after one year (+€248,089)
- Debts after one year +€248,089
up €248,089 (+323%), from €76,785 to €324,874
- Other debts +€108,129
new in 2025: €108,129
- Reserves -€45,981
down €45,981 (-2.7%), from €1.7m to €1.6m
of which Distributable reserves: -€44,121
- Tax, wage and social debts +€39,826
up €39,826 (+199%), from €20,025 to €59,851
- Current portion of long-term debt +€26,245
up €26,245 (+102%), from €25,666 to €51,911
- Depreciation +€74,938
up €74,938 (+285%), from €26,292 to €101,230
- Financial income +€69,641
up €69,641 (+1,106%), from €6,299 to €75,940
- Gross operating margin +€19,045
up €19,045 (+3.8%), from €501,682 to €520,726
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 | €1,821,375 | €2,196,343 | +€374,968 | +20.6% |
| Fixed assets | 21/28 | €403,513 | €858,401 | +€454,888 | +113% |
| Tangible fixed assets | 22/27 | €326,013 | €780,901 | +€454,888 | +140% |
| Land and buildings | 22 | €174,991 | €629,564 | +€454,573 | +260% |
| Furniture and vehicles | 24 | €151,022 | €151,337 | +€315 | +0.2% |
| Financial fixed assets | 28 | €77,500 | €77,500 | = | 0.0% |
| Current assets | 29/58 | €1,417,862 | €1,337,942 | -€79,920 | -5.6% |
| Amounts receivable after more than one year | 29 | €38,126 | €30,450 | -€7,677 | -20.1% |
| Other amounts receivable | 291 | €38,126 | €30,450 | -€7,677 | -20.1% |
| Amounts receivable within one year | 40/41 | €210,911 | €41,170 | -€169,741 | -80.5% |
| Trade receivables | 40 | €152,027 | €31,837 | -€120,190 | -79.1% |
| Other amounts receivable | 41 | €58,884 | €9,333 | -€49,551 | -84.2% |
| Current investments | 50/53 | €1,112,385 | €1,099,458 | -€12,926 | -1.2% |
| Cash at bank and in hand | 54/58 | €55,327 | €165,821 | +€110,493 | +200% |
| Deferred charges and accrued income | 490/1 | €1,112 | €1,043 | -€69 | -6.2% |
| Total equity and liabilities | 10/49 | €1,821,375 | €2,196,343 | +€374,968 | +20.6% |
| Equity | 10/15 | €1,695,014 | €1,649,032 | -€45,981 | -2.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,682,614 | €1,636,632 | -€45,981 | -2.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €1,680,754 | €1,636,632 | -€44,121 | -2.6% |
| Amounts payable | 17/49 | €126,361 | €547,310 | +€420,949 | +333% |
| Amounts payable after more than one year | 17 | €76,785 | €324,874 | +€248,089 | +323% |
| Financial debts | 170/4 | €76,785 | €324,874 | +€248,089 | +323% |
| Amounts payable within one year | 42/48 | €49,576 | €222,436 | +€172,860 | +349% |
| Current portion of amounts payable after more than one year | 42 | €25,666 | €51,911 | +€26,245 | +102% |
| Trade debts | 44 | €3,886 | €2,546 | -€1,340 | -34.5% |
| Suppliers | 440/4 | €3,886 | €2,546 | -€1,340 | -34.5% |
| Taxes, remuneration and social security | 45 | €20,025 | €59,851 | +€39,826 | +199% |
| Taxes | 450/3 | €20,025 | €59,851 | +€39,826 | +199% |
| Other amounts payable | 47/48 | - | €108,129 | +€108,129 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,292 | €101,230 | +€74,938 | +285% |
| Other operating charges | 640/8 | €3,145 | €2,807 | -€339 | -10.8% |
| Gross operating margin | 9900 | €501,682 | €520,726 | +€19,045 | +3.8% |
| Operating profit (loss) | 9901 | €472,244 | €416,690 | -€55,555 | -11.8% |
| Financial income | 75/76B | €6,299 | €75,940 | +€69,641 | +1,106% |
| Recurring financial income | 75 | €6,299 | €75,940 | +€69,641 | +1,106% |
| Financial charges | 65/66B | €2,898 | €3,762 | +€864 | +29.8% |
| Recurring financial charges | 65 | €2,898 | €3,762 | +€864 | +29.8% |
| Profit (loss) for the period before taxes | 9903 | €475,646 | €488,868 | +€13,222 | +2.8% |
| Income taxes | 67/77 | €157,227 | €154,849 | -€2,378 | -1.5% |
| Profit (loss) for the period | 9904 | €318,419 | €334,019 | +€15,600 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €318,419 | €334,019 | +€15,600 | +4.9% |
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 21 October 2026 via checked.be.