R.C.H.L.: what changed
R.C.H.L.
Largest movements
- Receivables within one year +€34,184
up €34,184 (+214%), from €15,959 to €50,143
of which Trade receivables: +€37,102
- Tangible fixed assets +€13,278
up €13,278 (+7.6%), from €175,666 to €188,945
of which Plant, machinery and equipment: +€21,886
- Cash +€4,775
up €4,775 (+5.6%), from €85,586 to €90,361
mainly Net result for the year (+€61,520) and Depreciation (+€14,327)
- Reserves +€61,520
up €61,520 (+103%), from €59,442 to €120,961
- Debts after one year -€17,286
down €17,286 (-9.3%), from €185,076 to €167,790
- Tax, wage and social debts +€5,324
up €5,324 (+98.9%), from €5,383 to €10,707
- Gross operating margin +€26,638
up €26,638 (+36.9%), from €72,250 to €98,888
- Depreciation +€7,542
up €7,542 (+111%), from €6,785 to €14,327
- Taxes +€5,604
up €5,604 (+58.9%), from €9,508 to €15,112
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 | €277,498 | €329,579 | +€52,081 | +18.8% |
| Fixed assets | 21/28 | €175,666 | €188,945 | +€13,278 | +7.6% |
| Tangible fixed assets | 22/27 | €175,666 | €188,945 | +€13,278 | +7.6% |
| Land and buildings | 22 | €149,219 | €140,978 | -€8,241 | -5.5% |
| Plant, machinery and equipment | 23 | €25,686 | €47,572 | +€21,886 | +85.2% |
| Furniture and vehicles | 24 | €761 | €395 | -€367 | -48.2% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €101,832 | €140,634 | +€38,803 | +38.1% |
| Amounts receivable within one year | 40/41 | €15,959 | €50,143 | +€34,184 | +214% |
| Trade receivables | 40 | €13,042 | €50,143 | +€37,102 | +284% |
| Other amounts receivable | 41 | €2,918 | €0 | -€2,918 | -100% |
| Cash at bank and in hand | 54/58 | €85,586 | €90,361 | +€4,775 | +5.6% |
| Deferred charges and accrued income | 490/1 | €286 | €129 | -€157 | -54.7% |
| Total equity and liabilities | 10/49 | €277,498 | €329,579 | +€52,081 | +18.8% |
| Equity | 10/15 | €69,442 | €130,961 | +€61,520 | +88.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €59,442 | €120,961 | +€61,520 | +103% |
| Distributable reserves | 133 | €59,442 | €120,961 | +€61,520 | +103% |
| Amounts payable | 17/49 | €208,056 | €198,617 | -€9,439 | -4.5% |
| Amounts payable after more than one year | 17 | €185,076 | €167,790 | -€17,286 | -9.3% |
| Financial debts | 170/4 | €185,076 | €167,790 | -€17,286 | -9.3% |
| Amounts payable within one year | 42/48 | €22,980 | €30,786 | +€7,806 | +34.0% |
| Current portion of amounts payable after more than one year | 42 | €16,659 | €17,286 | +€628 | +3.8% |
| Trade debts | 44 | €719 | €1,365 | +€646 | +89.8% |
| Suppliers | 440/4 | €719 | €1,365 | +€646 | +89.8% |
| Taxes, remuneration and social security | 45 | €5,383 | €10,707 | +€5,324 | +98.9% |
| Taxes | 450/3 | €5,383 | €10,707 | +€5,324 | +98.9% |
| Other amounts payable | 47/48 | €219 | €1,429 | +€1,209 | +551% |
| Accrued charges and deferred income | 492/3 | - | €41 | +€41 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,785 | €14,327 | +€7,542 | +111% |
| Other operating charges | 640/8 | €940 | €461 | -€479 | -50.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €72,250 | €98,888 | +€26,638 | +36.9% |
| Operating profit (loss) | 9901 | €64,525 | €84,100 | +€19,575 | +30.3% |
| Financial charges | 65/66B | €6,627 | €7,468 | +€841 | +12.7% |
| Recurring financial charges | 65 | €6,627 | €7,468 | +€841 | +12.7% |
| Profit (loss) for the period before taxes | 9903 | €57,898 | €76,632 | +€18,735 | +32.4% |
| Income taxes | 67/77 | €9,508 | €15,112 | +€5,604 | +58.9% |
| Profit (loss) for the period | 9904 | €48,389 | €61,520 | +€13,131 | +27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,389 | €61,520 | +€13,131 | +27.1% |
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.