WHITE REIZEN: what changed
What changed
WHITE REIZEN
NACE 79.110, Travel agency activities
filed annual accounts (NBB)
Net result for the year
€93,380
2024 · €100,164-€6,785
Equity
€694,439
2024 · €601,060+€93,380
Cash
€686,069
2024 · €618,748+€67,321
Balance sheet total
€1.3m
2024 · €1.4m-€117,046
Largest movements
Assets
- Current investments -€205,855
down €205,855 (-43.8%), from €470,355 to €264,500
- Cash +€67,321
up €67,321 (+10.9%), from €618,748 to €686,069
mainly Current investments (+€205,855) and Net result for the year (+€93,380)
- Deferred charges and accrued income +€50,331
up €50,331 (+78.9%), from €63,766 to €114,097
- Receivables within one year -€27,909
down €27,909 (-10.3%), from €270,340 to €242,431
of which Trade receivables: -€23,305
Equity and liabilities
- Other debts -€190,000
no longer reported in 2025 (was €190,000)
- Reserves +€93,380
up €93,380 (+33.4%), from €279,624 to €373,003
of which Distributable reserves: +€89,935
- Advances received -€47,809
down €47,809 (-9.4%), from €509,857 to €462,048
- Trade debts +€18,523
up €18,523 (+91.0%), from €20,348 to €38,872
Income statement
- Gross operating margin +€33,078
up €33,078 (+7.6%), from €436,897 to €469,975
- Taxes +€27,523
up €27,523 (+265%), from €10,397 to €37,920
- Staff costs +€16,027
up €16,027 (+5.1%), from €313,271 to €329,298
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.
Result 2024
€100,164
Gross operating margin
+€33,078
Staff costs
-€16,027
Depreciation
+€1,511
Other operating charges
+€758
Financial income
-€1,191
Financial charges
+€2,609
Taxes
-€27,523
Result 2025
€93,380
raises the resultlowers the result
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.
From operations
-€138,534
Investment
+€205,855
Financing
€0
Cash 2024
€618,748
From operations (derived)
-€138,534
Net result for the year
+€93,380
Depreciation
+€935
Receivables within one year
+€27,909
Deferred charges and accrued income
-€50,331
Provisions
-€430
Trade debts
+€18,523
Tax, wage and social debts
+€8,123
Advances received
-€47,809
Other debts
-€190,000
Accrued charges and deferred income
+€1,167
Investment (derived)
+€205,855
Current investments
+€205,855
Cash 2025
€686,069
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,430,047 | €1,313,001 | -€117,046 | -8.2% |
| Fixed assets | 21/28 | €6,839 | €5,903 | -€935 | -13.7% |
| Tangible fixed assets | 22/27 | €6,470 | €5,535 | -€935 | -14.5% |
| Plant, machinery and equipment | 23 | €245 | €0 | -€245 | -100.0% |
| Furniture and vehicles | 24 | €1,106 | €748 | -€358 | -32.3% |
| Other tangible fixed assets | 26 | €5,119 | €4,787 | -€332 | -6.5% |
| Financial fixed assets | 28 | €369 | €369 | = | 0.0% |
| Current assets | 29/58 | €1,423,208 | €1,307,097 | -€116,111 | -8.2% |
| Amounts receivable within one year | 40/41 | €270,340 | €242,431 | -€27,909 | -10.3% |
| Trade receivables | 40 | €244,885 | €221,580 | -€23,305 | -9.5% |
| Other amounts receivable | 41 | €25,455 | €20,851 | -€4,604 | -18.1% |
| Current investments | 50/53 | €470,355 | €264,500 | -€205,855 | -43.8% |
| Cash at bank and in hand | 54/58 | €618,748 | €686,069 | +€67,321 | +10.9% |
| Deferred charges and accrued income | 490/1 | €63,766 | €114,097 | +€50,331 | +78.9% |
| Total equity and liabilities | 10/49 | €1,430,047 | €1,313,001 | -€117,046 | -8.2% |
| Equity | 10/15 | €601,060 | €694,439 | +€93,380 | +15.5% |
| Contributions | 10/11 | €369,966 | €369,966 | = | 0.0% |
| Capital | 10 | €369,966 | €369,966 | = | 0.0% |
| Issued capital | 100 | €369,966 | €369,966 | = | 0.0% |
| Reserves | 13 | €279,624 | €373,003 | +€93,380 | +33.4% |
| Non-distributable reserves | 130/1 | €136,604 | €141,338 | +€4,733 | +3.5% |
| Legal reserve | 130 | €22,104 | €26,838 | +€4,733 | +21.4% |
| Own shares acquired | 1312 | €114,500 | €114,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €49,626 | €48,337 | -€1,289 | -2.6% |
| Distributable reserves | 133 | €93,393 | €183,329 | +€89,935 | +96.3% |
| Profit (loss) carried forward | 14 | -€48,529 | -€48,529 | = | 0.0% |
| Provisions and deferred taxes | 16 | €5,551 | €5,121 | -€430 | -7.7% |
| Provisions for liabilities and charges | 160/5 | €2,975 | €2,975 | = | 0.0% |
| Other liabilities and charges | 164/5 | €2,975 | €2,975 | = | 0.0% |
| Deferred taxes | 168 | €2,576 | €2,146 | -€430 | -16.7% |
| Amounts payable | 17/49 | €823,436 | €613,440 | -€209,996 | -25.5% |
| Amounts payable within one year | 42/48 | €783,587 | €572,424 | -€211,163 | -26.9% |
| Trade debts | 44 | €20,348 | €38,872 | +€18,523 | +91.0% |
| Suppliers | 440/4 | €20,348 | €38,872 | +€18,523 | +91.0% |
| Advances received on contracts in progress | 46 | €509,857 | €462,048 | -€47,809 | -9.4% |
| Taxes, remuneration and social security | 45 | €63,382 | €71,505 | +€8,123 | +12.8% |
| Taxes | 450/3 | €3,174 | €3,558 | +€383 | +12.1% |
| Remuneration and social security | 454/9 | €60,208 | €67,947 | +€7,740 | +12.9% |
| Other amounts payable | 47/48 | €190,000 | - | -€190,000 | |
| Accrued charges and deferred income | 492/3 | €39,849 | €41,016 | +€1,167 | +2.9% |
| Remuneration, social security and pensions | 62 | €313,271 | €329,298 | +€16,027 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,446 | €935 | -€1,511 | -61.8% |
| Other operating charges | 640/8 | €3,233 | €2,474 | -€758 | -23.5% |
| Gross operating margin | 9900 | €436,897 | €469,975 | +€33,078 | +7.6% |
| Operating profit (loss) | 9901 | €117,947 | €137,268 | +€19,321 | +16.4% |
| Financial income | 75/76B | €5,773 | €4,582 | -€1,191 | -20.6% |
| Recurring financial income | 75 | €5,773 | €4,582 | -€1,191 | -20.6% |
| Financial charges | 65/66B | €13,589 | €10,981 | -€2,609 | -19.2% |
| Recurring financial charges | 65 | €13,589 | €10,981 | -€2,609 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €110,131 | €130,870 | +€20,739 | +18.8% |
| Transfer from deferred taxes | 780 | €430 | €430 | = | 0.0% |
| Income taxes | 67/77 | €10,397 | €37,920 | +€27,523 | +265% |
| Profit (loss) for the period | 9904 | €100,164 | €93,380 | -€6,785 | -6.8% |
| Transfer from tax-exempt reserves | 789 | €1,289 | €1,289 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €101,453 | €94,669 | -€6,785 | -6.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.