R&D CONSTRUCT: what changed
Two fiscal 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&D CONSTRUCT
Largest movements
- Cash +€635
up €635 (+977.0%), from €65 to €700
mainly Other debts (+€1,000) and Receivables within one year (+€149)
- Receivables within one year -€149
down €149 (-94.9%), from €158 to €8
- Other debts +€1,000
up €1,000 (+7.8%), from €12,891 to €13,891
- Profit (loss) carried forward -€515
down €515 (-0.2%), from -€221,353 to -€221,868
- Gross operating margin +€2,107
up €2,107 (+84.5%), from -€2,495 to -€387
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.
Cash bridge derived
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 | €222 | €708 | +€485 | +218.1% |
| Current assets | 29/58 | €222 | €708 | +€485 | +218.1% |
| Amounts receivable within one year | 40/41 | €158 | €8 | -€149 | -94.9% |
| Other amounts receivable | 41 | €158 | €8 | -€149 | -94.9% |
| Cash at bank and in hand | 54/58 | €65 | €700 | +€635 | +977.0% |
| Total equity and liabilities | 10/49 | €222 | €708 | +€485 | +218.1% |
| Equity | 10/15 | -€213,293 | -€213,808 | -€515 | -0.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€221,353 | -€221,868 | -€515 | -0.2% |
| Amounts payable | 17/49 | €213,516 | €214,516 | +€1,000 | +0.5% |
| Amounts payable after more than one year | 17 | €200,000 | €200,000 | = | 0.0% |
| Other amounts payable | 178/9 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €13,516 | €14,516 | +€1,000 | +7.4% |
| Trade debts | 44 | €625 | €625 | = | 0.0% |
| Suppliers | 440/4 | €625 | €625 | = | 0.0% |
| Other amounts payable | 47/48 | €12,891 | €13,891 | +€1,000 | +7.8% |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | -€2,495 | -€387 | +€2,107 | +84.5% |
| Operating profit (loss) | 9901 | -€2,557 | -€449 | +€2,107 | +82.4% |
| Financial charges | 65/66B | €69 | €65 | -€4 | -5.2% |
| Recurring financial charges | 65 | €69 | €65 | -€4 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,626 | -€515 | +€2,111 | +80.4% |
| Profit (loss) for the period | 9904 | -€2,626 | -€515 | +€2,111 | +80.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,626 | -€515 | +€2,111 | +80.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.