R & D CONSULTING: 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 & D CONSULTING
Largest movements
- Cash -€126,333
down €126,333 (-65.2%), from €193,846 to €67,512
mainly Accrued charges and deferred income (-€276,407) and Investment in fixed assets (net) (-€66,627)
- Receivables within one year -€47,390
down €47,390 (-89.2%), from €53,103 to €5,713
of which Trade receivables: -€47,963
- Tangible fixed assets +€26,491
up €26,491 (+6.2%), from €429,227 to €455,718
of which Land and buildings: +€40,270
- Accrued charges and deferred income -€276,407
no longer reported in 2025 (was €276,407)
- Reserves +€103,180
up €103,180 (+199%), from €51,744 to €154,924
of which Distributable reserves: +€105,040
- Tax, wage and social debts +€38,772
up €38,772 (+248%), from €15,645 to €54,416
- Debts after one year -€30,000
down €30,000 (-16.7%), from €180,000 to €150,000
- Other debts +€17,720
up €17,720 (+91.9%), from €19,292 to €37,012
- Gross operating margin +€133,902
up €133,902 (+191%), from €69,941 to €203,843
- Taxes +€45,384
up €45,384 (+517%), from €8,773 to €54,157
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 | €678,459 | €531,502 | -€146,958 | -21.7% |
| Fixed assets | 21/28 | €429,227 | €455,718 | +€26,491 | +6.2% |
| Tangible fixed assets | 22/27 | €429,227 | €455,718 | +€26,491 | +6.2% |
| Land and buildings | 22 | €372,439 | €412,709 | +€40,270 | +10.8% |
| Plant, machinery and equipment | 23 | €19,192 | €16,085 | -€3,107 | -16.2% |
| Furniture and vehicles | 24 | €37,596 | €26,924 | -€10,672 | -28.4% |
| Current assets | 29/58 | €249,232 | €75,784 | -€173,449 | -69.6% |
| Amounts receivable within one year | 40/41 | €53,103 | €5,713 | -€47,390 | -89.2% |
| Trade receivables | 40 | €53,103 | €5,140 | -€47,963 | -90.3% |
| Other amounts receivable | 41 | - | €573 | +€573 | |
| Cash at bank and in hand | 54/58 | €193,846 | €67,512 | -€126,333 | -65.2% |
| Deferred charges and accrued income | 490/1 | €2,284 | €2,558 | +€274 | +12.0% |
| Total equity and liabilities | 10/49 | €678,459 | €531,502 | -€146,958 | -21.7% |
| Equity | 10/15 | €155,927 | €259,112 | +€103,185 | +66.2% |
| Contributions | 10/11 | €104,100 | €104,100 | = | 0.0% |
| Reserves | 13 | €51,744 | €154,924 | +€103,180 | +199% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €31,134 | €136,174 | +€105,040 | +337% |
| Profit (loss) carried forward | 14 | €82 | €87 | +€5 | +5.9% |
| Amounts payable | 17/49 | €522,532 | €272,390 | -€250,142 | -47.9% |
| Amounts payable after more than one year | 17 | €180,000 | €150,000 | -€30,000 | -16.7% |
| Financial debts | 170/4 | €180,000 | €150,000 | -€30,000 | -16.7% |
| Amounts payable within one year | 42/48 | €66,125 | €122,390 | +€56,265 | +85.1% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | €30,000 | = | 0.0% |
| Trade debts | 44 | €1,189 | €962 | -€227 | -19.1% |
| Suppliers | 440/4 | €1,189 | €962 | -€227 | -19.1% |
| Taxes, remuneration and social security | 45 | €15,645 | €54,416 | +€38,772 | +248% |
| Taxes | 450/3 | €15,645 | €54,416 | +€38,772 | +248% |
| Other amounts payable | 47/48 | €19,292 | €37,012 | +€17,720 | +91.9% |
| Accrued charges and deferred income | 492/3 | €276,407 | - | -€276,407 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,972 | €40,136 | +€1,164 | +3.0% |
| Other operating charges | 640/8 | €2,384 | €2,982 | +€599 | +25.1% |
| Gross operating margin | 9900 | €69,941 | €203,843 | +€133,902 | +191% |
| Operating profit (loss) | 9901 | €28,585 | €160,725 | +€132,140 | +462% |
| Financial income | 75/76B | €163 | €1,143 | +€980 | +602% |
| Recurring financial income | 75 | €163 | €1,143 | +€980 | +602% |
| Financial charges | 65/66B | €4,512 | €4,526 | +€14 | +0.3% |
| Recurring financial charges | 65 | €4,512 | €4,526 | +€14 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €24,236 | €157,342 | +€133,106 | +549% |
| Income taxes | 67/77 | €8,773 | €54,157 | +€45,384 | +517% |
| Profit (loss) for the period | 9904 | €15,464 | €103,185 | +€87,721 | +567% |
| Profit (loss) for the period to be appropriated | 9905 | €15,464 | €103,185 | +€87,721 | +567% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.