R & D Consult: 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 Consult
Largest movements
- Current investments -€350,000
down €350,000 (-50.0%), from €700,000 to €350,000
- Tangible fixed assets +€323,212
up €323,212 (+464.4%), from €69,598 to €392,810
of which Assets under construction and advance payments: +€343,322
- Cash +€113,778
up €113,778 (+125.7%), from €90,543 to €204,321
mainly Current investments (+€350,000) and Net result for the year (+€99,455)
- Reserves +€99,455
up €99,455 (+205.9%), from €48,309 to €147,764
- Other debts -€43,458
down €43,458 (-50.0%), from €86,958 to €43,500
- Tax, wage and social debts +€23,379
up €23,379 (+88.9%), from €26,307 to €49,685
- Contributions +€13,000
up €13,000 (+1.8%), from €726,500 to €739,500
- Gross operating margin +€61,719
up €61,719 (+83.4%), from €73,960 to €135,679
- Taxes +€16,352
up €16,352 (+123.5%), from €13,239 to €29,591
- Financial income +€15,154
up €15,154 (+64346.7%), from €24 to €15,177
- Depreciation +€10,299
up €10,299 (+99.5%), from €10,347 to €20,646
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 | €888,171 | €980,914 | +€92,742 | +10.4% |
| Fixed assets | 21/28 | €69,598 | €392,810 | +€323,212 | +464.4% |
| Tangible fixed assets | 22/27 | €69,598 | €392,810 | +€323,212 | +464.4% |
| Furniture and vehicles | 24 | €69,598 | €49,488 | -€20,110 | -28.9% |
| Assets under construction and advance payments | 27 | - | €343,322 | +€343,322 | |
| Current assets | 29/58 | €818,573 | €588,103 | -€230,470 | -28.2% |
| Amounts receivable within one year | 40/41 | €26,623 | €25,655 | -€969 | -3.6% |
| Trade receivables | 40 | €24,200 | €25,421 | +€1,221 | +5.0% |
| Other amounts receivable | 41 | €2,423 | €234 | -€2,189 | -90.3% |
| Current investments | 50/53 | €700,000 | €350,000 | -€350,000 | -50.0% |
| Cash at bank and in hand | 54/58 | €90,543 | €204,321 | +€113,778 | +125.7% |
| Deferred charges and accrued income | 490/1 | €1,407 | €8,128 | +€6,721 | +477.7% |
| Total equity and liabilities | 10/49 | €888,171 | €980,914 | +€92,742 | +10.4% |
| Equity | 10/15 | €774,809 | €887,264 | +€112,455 | +14.5% |
| Contributions | 10/11 | €726,500 | €739,500 | +€13,000 | +1.8% |
| Reserves | 13 | €48,309 | €147,764 | +€99,455 | +205.9% |
| Distributable reserves | 133 | €48,309 | €147,764 | +€99,455 | +205.9% |
| Amounts payable | 17/49 | €113,362 | €93,650 | -€19,712 | -17.4% |
| Amounts payable within one year | 42/48 | €113,362 | €93,650 | -€19,712 | -17.4% |
| Trade debts | 44 | €98 | €464 | +€366 | +373.9% |
| Suppliers | 440/4 | €98 | €464 | +€366 | +373.9% |
| Taxes, remuneration and social security | 45 | €26,307 | €49,685 | +€23,379 | +88.9% |
| Taxes | 450/3 | €26,307 | €49,685 | +€23,379 | +88.9% |
| Other amounts payable | 47/48 | €86,958 | €43,500 | -€43,458 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,347 | €20,646 | +€10,299 | +99.5% |
| Other operating charges | 640/8 | €2,075 | €1,111 | -€964 | -46.5% |
| Gross operating margin | 9900 | €73,960 | €135,679 | +€61,719 | +83.4% |
| Operating profit (loss) | 9901 | €61,538 | €113,922 | +€52,384 | +85.1% |
| Financial income | 75/76B | €24 | €15,177 | +€15,154 | +64346.7% |
| Recurring financial income | 75 | €24 | €15,177 | +€15,154 | +64346.7% |
| Financial charges | 65/66B | €13 | €53 | +€41 | +323.2% |
| Recurring financial charges | 65 | €13 | €53 | +€41 | +323.2% |
| Profit (loss) for the period before taxes | 9903 | €61,549 | €129,046 | +€67,497 | +109.7% |
| Income taxes | 67/77 | €13,239 | €29,591 | +€16,352 | +123.5% |
| Profit (loss) for the period | 9904 | €48,309 | €99,455 | +€51,145 | +105.9% |
| Profit (loss) for the period to be appropriated | 9905 | €48,309 | €99,455 | +€51,145 | +105.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.