RE-CO: 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.
RE-CO
Largest movements
- Stocks and contracts -€377,461
no longer reported in 2025 (was €377,461)
- Cash +€182,092
up €182,092 (+4,575%), from €3,981 to €186,073
mainly Stocks and contracts (+€377,461) and Net result for the year (+€72,848)
- Current portion of long-term debt -€239,347
no longer reported in 2025 (was €239,347)
- Profit (loss) carried forward +€71,182
up €71,182, from -€5,050 to €66,133
- Other debts -€48,834
down €48,834 (-96.7%), from €50,500 to €1,666
- Tax, wage and social debts +€22,600
new in 2025: €22,600
- Gross operating margin +€99,171
up €99,171, from -€2,910 to €96,260
- Taxes +€22,600
new in 2025: €22,600
- Depreciation -€1,655
no longer reported in 2025 (was €1,655)
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 | €382,466 | €186,201 | -€196,265 | -51.3% |
| Current assets | 29/58 | €382,466 | €186,201 | -€196,265 | -51.3% |
| Stocks and contracts in progress | 3 | €377,461 | - | -€377,461 | |
| Stocks | 30/36 | €377,461 | - | -€377,461 | |
| Amounts receivable within one year | 40/41 | €630 | - | -€630 | |
| Other amounts receivable | 41 | €630 | - | -€630 | |
| Cash at bank and in hand | 54/58 | €3,981 | €186,073 | +€182,092 | +4,575% |
| Deferred charges and accrued income | 490/1 | €395 | €128 | -€267 | -67.5% |
| Total equity and liabilities | 10/49 | €382,466 | €186,201 | -€196,265 | -51.3% |
| Equity | 10/15 | €84,950 | €156,133 | +€71,182 | +83.8% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,050 | €66,133 | +€71,182 | |
| Amounts payable | 17/49 | €297,516 | €30,069 | -€267,447 | -89.9% |
| Amounts payable within one year | 42/48 | €297,516 | €30,069 | -€267,447 | -89.9% |
| Current portion of amounts payable after more than one year | 42 | €239,347 | - | -€239,347 | |
| Trade debts | 44 | €7,669 | €5,803 | -€1,866 | -24.3% |
| Suppliers | 440/4 | €7,669 | €5,803 | -€1,866 | -24.3% |
| Taxes, remuneration and social security | 45 | - | €22,600 | +€22,600 | |
| Taxes | 450/3 | - | €22,600 | +€22,600 | |
| Other amounts payable | 47/48 | €50,500 | €1,666 | -€48,834 | -96.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,655 | - | -€1,655 | |
| Other operating charges | 640/8 | €393 | €762 | +€369 | +93.9% |
| Non-recurring operating charges | 66A | €4 | - | -€4 | |
| Gross operating margin | 9900 | -€2,910 | €96,260 | +€99,171 | |
| Operating profit (loss) | 9901 | -€4,962 | €95,499 | +€100,460 | |
| Financial income | 75/76B | - | €32 | +€32 | |
| Recurring financial income | 75 | - | €32 | +€32 | |
| Financial charges | 65/66B | €88 | €83 | -€4 | -5.0% |
| Recurring financial charges | 65 | €88 | €83 | -€4 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,050 | €95,448 | +€100,497 | |
| Income taxes | 67/77 | - | €22,600 | +€22,600 | |
| Profit (loss) for the period | 9904 | -€5,050 | €72,848 | +€77,898 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,050 | €72,848 | +€77,898 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.