rreac04: 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.
rreac04
Largest movements
- Receivables within one year -€15,891
down €15,891 (-68.8%), from €23,111 to €7,220
- Cash -€2,750
down €2,750 (-23.0%), from €11,970 to €9,221
mainly Net result for the year (-€22,351) and Trade debts (-€18,202)
- Tangible fixed assets -€2,011
down €2,011 (-48.2%), from €4,171 to €2,160
of which Plant, machinery and equipment: -€2,009
- Intangible fixed assets -€633
down €633 (-78.8%), from €803 to €170
- Profit (loss) carried forward -€22,351
down €22,351 (-27.8%), from -€80,293 to -€102,644
- Other debts +€22,244
up €22,244 (+54.0%), from €41,208 to €63,451
- Trade debts -€18,202
down €18,202 (-79.3%), from €22,947 to €4,745
- Tax, wage and social debts -€2,976
down €2,976 (-39.9%), from €7,461 to €4,485
of which Taxes: -€3,319
- Staff costs +€22,423
up €22,423 (+104%), from €21,636 to €44,059
- Gross operating margin +€9,599
up €9,599 (+61.6%), from €15,595 to €25,194
- Depreciation -€342
down €342 (-11.4%), from €2,986 to €2,645
- Financial charges -€301
down €301 (-46.3%), from €649 to €348
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 | €41,112 | €19,827 | -€21,285 | -51.8% |
| Fixed assets | 21/28 | €6,031 | €3,386 | -€2,645 | -43.9% |
| Intangible fixed assets | 21 | €803 | €170 | -€633 | -78.8% |
| Tangible fixed assets | 22/27 | €4,171 | €2,160 | -€2,011 | -48.2% |
| Plant, machinery and equipment | 23 | €4,169 | €2,160 | -€2,009 | -48.2% |
| Furniture and vehicles | 24 | €2 | €0 | -€2 | -100% |
| Financial fixed assets | 28 | €1,056 | €1,056 | = | 0.0% |
| Current assets | 29/58 | €35,082 | €16,441 | -€18,641 | -53.1% |
| Amounts receivable within one year | 40/41 | €23,111 | €7,220 | -€15,891 | -68.8% |
| Trade receivables | 40 | €23,111 | €7,220 | -€15,891 | -68.8% |
| Cash at bank and in hand | 54/58 | €11,970 | €9,221 | -€2,750 | -23.0% |
| Total equity and liabilities | 10/49 | €41,112 | €19,827 | -€21,285 | -51.8% |
| Equity | 10/15 | -€30,503 | -€52,854 | -€22,351 | -73.3% |
| Contributions | 10/11 | €28,900 | €28,900 | = | 0.0% |
| Reserves | 13 | €20,890 | €20,890 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,890 | €2,890 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,890 | €2,890 | = | 0.0% |
| Distributable reserves | 133 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,293 | -€102,644 | -€22,351 | -27.8% |
| Amounts payable | 17/49 | €71,615 | €72,681 | +€1,065 | +1.5% |
| Amounts payable within one year | 42/48 | €71,615 | €72,681 | +€1,065 | +1.5% |
| Trade debts | 44 | €22,947 | €4,745 | -€18,202 | -79.3% |
| Suppliers | 440/4 | €22,947 | €4,745 | -€18,202 | -79.3% |
| Taxes, remuneration and social security | 45 | €7,461 | €4,485 | -€2,976 | -39.9% |
| Taxes | 450/3 | €7,461 | €4,141 | -€3,319 | -44.5% |
| Remuneration and social security | 454/9 | €0 | €343 | +€343 | |
| Other amounts payable | 47/48 | €41,208 | €63,451 | +€22,244 | +54.0% |
| Remuneration, social security and pensions | 62 | €21,636 | €44,059 | +€22,423 | +104% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,986 | €2,645 | -€342 | -11.4% |
| Other operating charges | 640/8 | €526 | €496 | -€30 | -5.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €15,595 | €25,194 | +€9,599 | +61.6% |
| Operating profit (loss) | 9901 | -€9,553 | -€22,005 | -€12,452 | -130% |
| Financial income | 75/76B | €38 | €3 | -€35 | -92.6% |
| Recurring financial income | 75 | €38 | €3 | -€35 | -92.6% |
| Financial charges | 65/66B | €649 | €348 | -€301 | -46.3% |
| Recurring financial charges | 65 | €649 | €348 | -€301 | -46.3% |
| Profit (loss) for the period before taxes | 9903 | -€10,165 | -€22,350 | -€12,186 | -120% |
| Income taxes | 67/77 | - | €0 | +€0 | |
| Profit (loss) for the period | 9904 | -€10,165 | -€22,351 | -€12,186 | -120% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,165 | -€22,351 | -€12,186 | -120% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.