R.B.D.: 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.
R.B.D.
Largest movements
- Receivables within one year +€286,442
up €286,442 (+19.9%), from €1.4m to €1.7m
of which Trade receivables: +€177,732
- Stocks and contracts +€270,758
up €270,758 (+30.3%), from €894,524 to €1.2m
- Cash -€49,536
down €49,536 (-55.8%), from €88,754 to €39,218
mainly Receivables within one year (-€286,442) and Stocks and contracts (-€270,758)
- Other debts +€339,268
up €339,268 (+15.8%), from €2.2m to €2.5m
- Short-term financial debts +€300,000
up €300,000, from €0 to €300,000
- Trade debts +€124,904
up €124,904 (+1,408%), from €8,868 to €133,772
- Tax, wage and social debts -€99,699
down €99,699 (-97.6%), from €102,104 to €2,405
- Debts after one year -€92,845
down €92,845 (-49.1%), from €189,208 to €96,363
- Write-downs +€106,400
new in 2024: €106,400
- Gross operating margin +€59,089
up €59,089 (+35.6%), from €165,804 to €224,893
- Taxes -€26,274
down €26,274, from €24,079 to -€2,195
- Depreciation -€13,127
down €13,127 (-18.6%), from €70,648 to €57,520
- Other operating charges +€10,244
up €10,244 (+486%), from €2,108 to €12,352
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,631,029 | €4,214,988 | +€583,959 | +16.1% |
| Fixed assets | 21/28 | €1,207,985 | €1,279,552 | +€71,568 | +5.9% |
| Intangible fixed assets | 21 | - | €32,497 | +€32,497 | |
| Tangible fixed assets | 22/27 | €707,985 | €709,005 | +€1,020 | +0.1% |
| Land and buildings | 22 | €707,985 | €692,715 | -€15,270 | -2.2% |
| Plant, machinery and equipment | 23 | - | €12,032 | +€12,032 | |
| Furniture and vehicles | 24 | - | €4,258 | +€4,258 | |
| Financial fixed assets | 28 | €500,000 | €538,050 | +€38,050 | +7.6% |
| Current assets | 29/58 | €2,423,044 | €2,935,435 | +€512,391 | +21.1% |
| Stocks and contracts in progress | 3 | €894,524 | €1,165,282 | +€270,758 | +30.3% |
| Stocks | 30/36 | €894,524 | €1,165,282 | +€270,758 | +30.3% |
| Amounts receivable within one year | 40/41 | €1,439,766 | €1,726,207 | +€286,442 | +19.9% |
| Trade receivables | 40 | €844,766 | €1,022,498 | +€177,732 | +21.0% |
| Other amounts receivable | 41 | €595,000 | €703,709 | +€108,709 | +18.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €88,754 | €39,218 | -€49,536 | -55.8% |
| Deferred charges and accrued income | 490/1 | - | €4,728 | +€4,728 | |
| Total equity and liabilities | 10/49 | €3,631,029 | €4,214,988 | +€583,959 | +16.1% |
| Equity | 10/15 | €1,083,014 | €1,100,333 | +€17,319 | +1.6% |
| Contributions | 10/11 | €574,368 | €574,368 | = | 0.0% |
| Capital | 10 | €574,368 | €574,368 | = | 0.0% |
| Issued capital | 100 | €574,368 | €574,368 | = | 0.0% |
| Reserves | 13 | €508,646 | €525,965 | +€17,319 | +3.4% |
| Non-distributable reserves | 130/1 | €57,437 | €57,437 | = | 0.0% |
| Legal reserve | 130 | €57,437 | €57,437 | = | 0.0% |
| Distributable reserves | 133 | €451,210 | €468,528 | +€17,319 | +3.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,548,014 | €3,114,655 | +€566,641 | +22.2% |
| Amounts payable after more than one year | 17 | €189,208 | €96,363 | -€92,845 | -49.1% |
| Financial debts | 170/4 | €189,208 | €96,363 | -€92,845 | -49.1% |
| Amounts payable within one year | 42/48 | €2,358,806 | €3,018,292 | +€659,486 | +28.0% |
| Current portion of amounts payable after more than one year | 42 | €97,834 | €92,847 | -€4,986 | -5.1% |
| Financial debts | 43 | €0 | €300,000 | +€300,000 | |
| Credit institutions | 430/8 | €0 | €300,000 | +€300,000 | |
| Trade debts | 44 | €8,868 | €133,772 | +€124,904 | +1,408% |
| Suppliers | 440/4 | €8,868 | €133,772 | +€124,904 | +1,408% |
| Taxes, remuneration and social security | 45 | €102,104 | €2,405 | -€99,699 | -97.6% |
| Taxes | 450/3 | €102,104 | €2,405 | -€99,699 | -97.6% |
| Other amounts payable | 47/48 | €2,150,000 | €2,489,268 | +€339,268 | +15.8% |
| Non-recurring operating income | 76A | - | €1,400 | +€1,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,648 | €57,520 | -€13,127 | -18.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €106,400 | +€106,400 | |
| Other operating charges | 640/8 | €2,108 | €12,352 | +€10,244 | +486% |
| Non-recurring operating charges | 66A | €31,563 | €11,348 | -€20,214 | -64.0% |
| Gross operating margin | 9900 | €165,804 | €224,893 | +€59,089 | +35.6% |
| Operating profit (loss) | 9901 | €61,486 | €37,272 | -€24,214 | -39.4% |
| Financial income | 75/76B | €77 | €622 | +€546 | +712% |
| Recurring financial income | 75 | €77 | €622 | +€546 | +712% |
| Financial charges | 65/66B | €25,740 | €22,770 | -€2,970 | -11.5% |
| Recurring financial charges | 65 | €25,740 | €22,770 | -€2,970 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €35,822 | €15,124 | -€20,698 | -57.8% |
| Income taxes | 67/77 | €24,079 | -€2,195 | -€26,274 | |
| Profit (loss) for the period | 9904 | €11,742 | €17,319 | +€5,576 | +47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,742 | €17,319 | +€5,576 | +47.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.