REZA: 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.
REZA
Largest movements
- Cash -€10,586
down €10,586 (-85.9%), from €12,325 to €1,739
mainly Trade debts (-€22,741) and Debts after one year (-€13,832)
- Tangible fixed assets -€2,479
down €2,479 (-29.8%), from €8,327 to €5,847
of which Furniture and vehicles: -€1,840
- Receivables within one year +€1,968
up €1,968 (+3.8%), from €51,777 to €53,746
of which Other amounts receivable: +€17,968
- Reserves +€25,606
up €25,606 (+28.8%), from €89,000 to €114,606
- Trade debts -€22,741
down €22,741 (-76.2%), from €29,833 to €7,092
- Debts after one year -€13,832
no longer reported in 2025 (was €13,832)
- Tax, wage and social debts +€5,510
up €5,510 (+25.6%), from €21,542 to €27,052
- Current portion of long-term debt -€5,397
down €5,397 (-20.2%), from €26,773 to €21,376
- Gross operating margin -€7,995
down €7,995 (-16.1%), from €49,779 to €41,784
- Taxes -€5,523
down €5,523 (-33.3%), from €16,606 to €11,084
- Financial income +€1,360
up €1,360 (+135980.0%), from €1 to €1,361
- Financial charges -€664
down €664 (-16.9%), from €3,918 to €3,254
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 | €192,429 | €181,332 | -€11,097 | -5.8% |
| Fixed assets | 21/28 | €128,327 | €125,847 | -€2,479 | -1.9% |
| Tangible fixed assets | 22/27 | €8,327 | €5,847 | -€2,479 | -29.8% |
| Plant, machinery and equipment | 23 | €2,966 | €2,326 | -€640 | -21.6% |
| Furniture and vehicles | 24 | €5,361 | €3,521 | -€1,840 | -34.3% |
| Financial fixed assets | 28 | €120,000 | €120,000 | = | 0.0% |
| Current assets | 29/58 | €64,102 | €55,485 | -€8,617 | -13.4% |
| Amounts receivable within one year | 40/41 | €51,777 | €53,746 | +€1,968 | +3.8% |
| Trade receivables | 40 | €16,000 | - | -€16,000 | |
| Other amounts receivable | 41 | €35,777 | €53,746 | +€17,968 | +50.2% |
| Cash at bank and in hand | 54/58 | €12,325 | €1,739 | -€10,586 | -85.9% |
| Total equity and liabilities | 10/49 | €192,429 | €181,332 | -€11,097 | -5.8% |
| Equity | 10/15 | €99,818 | €125,423 | +€25,606 | +25.7% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €89,000 | €114,606 | +€25,606 | +28.8% |
| Distributable reserves | 133 | €89,000 | €114,606 | +€25,606 | +28.8% |
| Profit (loss) carried forward | 14 | €2,818 | €2,818 | = | 0.0% |
| Amounts payable | 17/49 | €92,611 | €55,908 | -€36,702 | -39.6% |
| Amounts payable after more than one year | 17 | €13,832 | - | -€13,832 | |
| Financial debts | 170/4 | €13,832 | - | -€13,832 | |
| Amounts payable within one year | 42/48 | €78,149 | €55,521 | -€22,628 | -29.0% |
| Current portion of amounts payable after more than one year | 42 | €26,773 | €21,376 | -€5,397 | -20.2% |
| Trade debts | 44 | €29,833 | €7,092 | -€22,741 | -76.2% |
| Suppliers | 440/4 | €29,833 | €7,092 | -€22,741 | -76.2% |
| Taxes, remuneration and social security | 45 | €21,542 | €27,052 | +€5,510 | +25.6% |
| Taxes | 450/3 | €21,542 | €27,052 | +€5,510 | +25.6% |
| Accrued charges and deferred income | 492/3 | €630 | €387 | -€243 | -38.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,668 | €2,479 | -€188 | -7.1% |
| Other operating charges | 640/8 | €957 | €722 | -€236 | -24.6% |
| Gross operating margin | 9900 | €49,779 | €41,784 | -€7,995 | -16.1% |
| Operating profit (loss) | 9901 | €46,154 | €38,583 | -€7,571 | -16.4% |
| Financial income | 75/76B | €1 | €1,361 | +€1,360 | +135980.0% |
| Recurring financial income | 75 | €1 | €1,361 | +€1,360 | +135980.0% |
| Financial charges | 65/66B | €3,918 | €3,254 | -€664 | -16.9% |
| Recurring financial charges | 65 | €3,918 | €3,254 | -€664 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €42,237 | €36,689 | -€5,548 | -13.1% |
| Income taxes | 67/77 | €16,606 | €11,084 | -€5,523 | -33.3% |
| Profit (loss) for the period | 9904 | €25,630 | €25,606 | -€25 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €25,630 | €25,606 | -€25 | -0.1% |
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 8 October 2026 via checked.be.