Dr. RVdb: 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.
Dr. RVdb
Largest movements
- Receivables within one year +€400,199
new in 2025: €400,199
- Current investments -€288,000
down €288,000 (-81.6%), from €353,000 to €65,000
- Cash -€224,503
down €224,503 (-67.6%), from €332,280 to €107,777
mainly Receivables within one year (-€400,199) and Other debts (-€380,829)
- Deferred charges and accrued income -€36,538
down €36,538 (-14.5%), from €251,453 to €214,915
- Tangible fixed assets +€25,518
up €25,518 (+143%), from €17,882 to €43,400
of which Plant, machinery and equipment: +€27,873
- Profit (loss) carried forward +€436,890
new in 2025: €436,890
- Other debts -€380,829
down €380,829 (-70.4%), from €540,829 to €160,000
- Reserves -€163,801
down €163,801 (-56.5%), from €290,101 to €126,300
of which Distributable reserves: -€163,801
- Tax, wage and social debts -€11,565
down €11,565 (-80.2%), from €14,415 to €2,850
- Gross operating margin -€95,105
down €95,105 (-14.0%), from €681,224 to €586,119
- Taxes -€26,903
down €26,903 (-16.3%), from €165,386 to €138,483
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 | €954,860 | €831,536 | -€123,324 | -12.9% |
| Fixed assets | 21/28 | €18,127 | €43,645 | +€25,518 | +141% |
| Tangible fixed assets | 22/27 | €17,882 | €43,400 | +€25,518 | +143% |
| Plant, machinery and equipment | 23 | €12,180 | €40,053 | +€27,873 | +229% |
| Furniture and vehicles | 24 | €3,851 | €1,495 | -€2,355 | -61.2% |
| Other tangible fixed assets | 26 | €1,851 | €1,851 | = | 0.0% |
| Financial fixed assets | 28 | €245 | €245 | = | 0.0% |
| Current assets | 29/58 | €936,733 | €787,892 | -€148,841 | -15.9% |
| Amounts receivable within one year | 40/41 | - | €400,199 | +€400,199 | |
| Other amounts receivable | 41 | - | €400,199 | +€400,199 | |
| Current investments | 50/53 | €353,000 | €65,000 | -€288,000 | -81.6% |
| Cash at bank and in hand | 54/58 | €332,280 | €107,777 | -€224,503 | -67.6% |
| Deferred charges and accrued income | 490/1 | €251,453 | €214,915 | -€36,538 | -14.5% |
| Total equity and liabilities | 10/49 | €954,860 | €831,536 | -€123,324 | -12.9% |
| Equity | 10/15 | €291,101 | €564,190 | +€273,088 | +93.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €290,101 | €126,300 | -€163,801 | -56.5% |
| Tax-exempt reserves | 132 | €126,300 | €126,300 | = | 0.0% |
| Distributable reserves | 133 | €163,801 | - | -€163,801 | |
| Profit (loss) carried forward | 14 | - | €436,890 | +€436,890 | |
| Amounts payable | 17/49 | €663,759 | €267,347 | -€396,412 | -59.7% |
| Amounts payable after more than one year | 17 | €100,000 | €100,000 | = | 0.0% |
| Financial debts | 170/4 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €558,369 | €165,972 | -€392,398 | -70.3% |
| Trade debts | 44 | €3,125 | €3,122 | -€3 | -0.1% |
| Suppliers | 440/4 | €3,125 | €3,122 | -€3 | -0.1% |
| Taxes, remuneration and social security | 45 | €14,415 | €2,850 | -€11,565 | -80.2% |
| Taxes | 450/3 | €14,415 | €2,850 | -€11,565 | -80.2% |
| Other amounts payable | 47/48 | €540,829 | €160,000 | -€380,829 | -70.4% |
| Accrued charges and deferred income | 492/3 | €5,389 | €1,375 | -€4,014 | -74.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,205 | €17,371 | +€5,166 | +42.3% |
| Other operating charges | 640/8 | €2,362 | €2,528 | +€166 | +7.0% |
| Gross operating margin | 9900 | €681,224 | €586,119 | -€95,105 | -14.0% |
| Operating profit (loss) | 9901 | €666,658 | €566,220 | -€100,438 | -15.1% |
| Financial income | 75/76B | €13,430 | €6,994 | -€6,436 | -47.9% |
| Recurring financial income | 75 | €13,430 | €6,994 | -€6,436 | -47.9% |
| Financial charges | 65/66B | €5,805 | €1,642 | -€4,163 | -71.7% |
| Recurring financial charges | 65 | €5,805 | €1,642 | -€4,163 | -71.7% |
| Profit (loss) for the period before taxes | 9903 | €674,283 | €571,572 | -€102,711 | -15.2% |
| Income taxes | 67/77 | €165,386 | €138,483 | -€26,903 | -16.3% |
| Profit (loss) for the period | 9904 | €508,896 | €433,088 | -€75,808 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €508,896 | €433,088 | -€75,808 | -14.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.