THE RED FACTORY: what changed
THE RED FACTORY
Largest movements
- Cash -€10,612
down €10,612 (-44.2%), from €23,988 to €13,377
mainly Debts after one year (-€19,378) and Current portion of long-term debt (-€5,565)
- Receivables within one year -€8,981
down €8,981 (-98.8%), from €9,091 to €109
of which Other amounts receivable: -€8,999
- Tangible fixed assets -€1,159
down €1,159 (-3.9%), from €29,703 to €28,544
of which Furniture and vehicles: -€940
- Debts after one year -€19,378
no longer reported in 2025 (was €19,378)
- Other debts +€9,429
new in 2025: €9,429
- Current portion of long-term debt -€5,565
no longer reported in 2025 (was €5,565)
- Tax, wage and social debts -€3,491
down €3,491 (-55.9%), from €6,246 to €2,755
- Profit (loss) carried forward -€1,162
down €1,162 (-4.4%), from €26,464 to €25,302
- Gross operating margin -€7,998
down €7,998 (-41.7%), from €19,199 to €11,201
- Depreciation -€4,047
down €4,047 (-66.7%), from €6,069 to €2,021
- Taxes -€2,572
down €2,572 (-94.9%), from €2,711 to €139
- Financial charges +€514
up €514 (+73.9%), from €695 to €1,210
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €63,033 | €42,694 | -€20,338 | -32.3% |
| Fixed assets | 21/28 | €29,703 | €28,544 | -€1,159 | -3.9% |
| Tangible fixed assets | 22/27 | €29,703 | €28,544 | -€1,159 | -3.9% |
| Plant, machinery and equipment | 23 | €2,035 | €1,815 | -€220 | -10.8% |
| Furniture and vehicles | 24 | €27,669 | €26,729 | -€940 | -3.4% |
| Current assets | 29/58 | €33,330 | €14,150 | -€19,179 | -57.5% |
| Amounts receivable within one year | 40/41 | €9,091 | €109 | -€8,981 | -98.8% |
| Trade receivables | 40 | €92 | €109 | +€17 | +19.0% |
| Other amounts receivable | 41 | €8,999 | - | -€8,999 | |
| Cash at bank and in hand | 54/58 | €23,988 | €13,377 | -€10,612 | -44.2% |
| Deferred charges and accrued income | 490/1 | €251 | €664 | +€414 | +165% |
| Total equity and liabilities | 10/49 | €63,033 | €42,694 | -€20,338 | -32.3% |
| Equity | 10/15 | €31,464 | €30,302 | -€1,162 | -3.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €5,000 | +€5,000 | |
| Other | 1109/19 | - | €5,000 | +€5,000 | |
| Profit (loss) carried forward | 14 | €26,464 | €25,302 | -€1,162 | -4.4% |
| Amounts payable | 17/49 | €31,569 | €12,393 | -€19,176 | -60.7% |
| Amounts payable after more than one year | 17 | €19,378 | - | -€19,378 | |
| Financial debts | 170/4 | €19,378 | - | -€19,378 | |
| Amounts payable within one year | 42/48 | €12,191 | €12,308 | +€117 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €5,565 | - | -€5,565 | |
| Trade debts | 44 | €380 | €124 | -€256 | -67.4% |
| Suppliers | 440/4 | €380 | €124 | -€256 | -67.4% |
| Taxes, remuneration and social security | 45 | €6,246 | €2,755 | -€3,491 | -55.9% |
| Taxes | 450/3 | €6,246 | €2,755 | -€3,491 | -55.9% |
| Other amounts payable | 47/48 | - | €9,429 | +€9,429 | |
| Accrued charges and deferred income | 492/3 | - | €85 | +€85 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,069 | €2,021 | -€4,047 | -66.7% |
| Other operating charges | 640/8 | €546 | €543 | -€3 | -0.5% |
| Non-recurring operating charges | 66A | - | €8,964 | +€8,964 | |
| Gross operating margin | 9900 | €19,199 | €11,201 | -€7,998 | -41.7% |
| Operating profit (loss) | 9901 | €12,584 | -€327 | -€12,911 | |
| Financial income | 75/76B | €397 | €514 | +€117 | +29.4% |
| Recurring financial income | 75 | €397 | €514 | +€117 | +29.4% |
| Financial charges | 65/66B | €695 | €1,210 | +€514 | +73.9% |
| Recurring financial charges | 65 | €695 | €1,210 | +€514 | +73.9% |
| Profit (loss) for the period before taxes | 9903 | €12,285 | -€1,023 | -€13,308 | |
| Income taxes | 67/77 | €2,711 | €139 | -€2,572 | -94.9% |
| Profit (loss) for the period | 9904 | €9,574 | -€1,162 | -€10,736 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,574 | -€1,162 | -€10,736 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.