RREC: 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.
RREC
Largest movements
- Tangible fixed assets +€362,340
up €362,340 (+85.9%), from €421,748 to €784,088
of which Land and buildings: +€365,087
- Current investments +€277,017
up €277,017 (+23.1%), from €1.2m to €1.5m
- Receivables after one year +€209,000
new in 2025: €209,000
- Receivables within one year -€121,033
down €121,033 (-66.6%), from €181,784 to €60,751
of which Trade receivables: -€134,516
- Cash -€42,083
down €42,083 (-26.3%), from €160,005 to €117,922
mainly Investment in fixed assets (net) (-€391,580) and Current investments (-€277,017)
- Reserves +€481,369
up €481,369 (+35.7%), from €1.3m to €1.8m
- Trade debts +€165,549
up €165,549 (+8397.6%), from €1,971 to €167,521
- Other debts +€95,063
up €95,063 (+69.1%), from €137,548 to €232,611
- Debts after one year -€29,967
down €29,967 (-9.6%), from €310,678 to €280,711
- Gross operating margin +€110,775
up €110,775 (+11.9%), from €930,616 to €1.0m
- Taxes +€37,189
up €37,189 (+13.1%), from €283,978 to €321,166
- Financial income +€14,802
up €14,802 (+77.2%), from €19,173 to €33,975
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 | €1,969,842 | €2,664,288 | +€694,445 | +35.3% |
| Fixed assets | 21/28 | €424,087 | €786,428 | +€362,340 | +85.4% |
| Tangible fixed assets | 22/27 | €421,748 | €784,088 | +€362,340 | +85.9% |
| Land and buildings | 22 | €416,133 | €781,221 | +€365,087 | +87.7% |
| Plant, machinery and equipment | 23 | €3,894 | €2,821 | -€1,073 | -27.5% |
| Furniture and vehicles | 24 | €542 | €0 | -€542 | -100.0% |
| Other tangible fixed assets | 26 | €1,179 | €47 | -€1,132 | -96.1% |
| Financial fixed assets | 28 | €2,339 | €2,339 | = | 0.0% |
| Current assets | 29/58 | €1,545,755 | €1,877,860 | +€332,105 | +21.5% |
| Amounts receivable after more than one year | 29 | - | €209,000 | +€209,000 | |
| Other amounts receivable | 291 | - | €209,000 | +€209,000 | |
| Amounts receivable within one year | 40/41 | €181,784 | €60,751 | -€121,033 | -66.6% |
| Trade receivables | 40 | €181,650 | €47,134 | -€134,516 | -74.1% |
| Other amounts receivable | 41 | €134 | €13,617 | +€13,483 | +10062.2% |
| Current investments | 50/53 | €1,197,771 | €1,474,788 | +€277,017 | +23.1% |
| Cash at bank and in hand | 54/58 | €160,005 | €117,922 | -€42,083 | -26.3% |
| Deferred charges and accrued income | 490/1 | €6,195 | €15,399 | +€9,204 | +148.6% |
| Total equity and liabilities | 10/49 | €1,969,842 | €2,664,288 | +€694,445 | +35.3% |
| Equity | 10/15 | €1,369,283 | €1,850,652 | +€481,369 | +35.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,349,283 | €1,830,652 | +€481,369 | +35.7% |
| Distributable reserves | 133 | €1,349,283 | €1,830,652 | +€481,369 | +35.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €600,559 | €813,635 | +€213,076 | +35.5% |
| Amounts payable after more than one year | 17 | €310,678 | €280,711 | -€29,967 | -9.6% |
| Financial debts | 170/4 | €310,678 | €280,711 | -€29,967 | -9.6% |
| Amounts payable within one year | 42/48 | €267,904 | €529,375 | +€261,471 | +97.6% |
| Current portion of amounts payable after more than one year | 42 | €29,104 | €29,967 | +€863 | +3.0% |
| Trade debts | 44 | €1,971 | €167,521 | +€165,549 | +8397.6% |
| Suppliers | 440/4 | €1,971 | €167,521 | +€165,549 | +8397.6% |
| Taxes, remuneration and social security | 45 | €99,280 | €99,276 | -€5 | 0.0% |
| Taxes | 450/3 | €96,515 | €99,276 | +€2,761 | +2.9% |
| Remuneration and social security | 454/9 | €2,765 | €0 | -€2,765 | -100.0% |
| Other amounts payable | 47/48 | €137,548 | €232,611 | +€95,063 | +69.1% |
| Accrued charges and deferred income | 492/3 | €21,977 | €3,550 | -€18,428 | -83.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,963 | €29,240 | +€1,277 | +4.6% |
| Other operating charges | 640/8 | €2,306 | €2,157 | -€150 | -6.5% |
| Gross operating margin | 9900 | €930,616 | €1,041,391 | +€110,775 | +11.9% |
| Operating profit (loss) | 9901 | €900,346 | €1,009,994 | +€109,648 | +12.2% |
| Financial income | 75/76B | €19,173 | €33,975 | +€14,802 | +77.2% |
| Recurring financial income | 75 | €19,173 | €33,975 | +€14,802 | +77.2% |
| Financial charges | 65/66B | €13,237 | €8,822 | -€4,415 | -33.4% |
| Recurring financial charges | 65 | €13,237 | €8,822 | -€4,415 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | €906,282 | €1,035,147 | +€128,865 | +14.2% |
| Income taxes | 67/77 | €283,978 | €321,166 | +€37,189 | +13.1% |
| Profit (loss) for the period | 9904 | €622,305 | €713,980 | +€91,676 | +14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €622,305 | €713,980 | +€91,676 | +14.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.