R&D DESIGN: 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 DESIGN
Largest movements
- Receivables within one year -€11,039
down €11,039 (-30.1%), from €36,705 to €25,666
- Cash +€2,096
up €2,096 (+19.7%), from €10,627 to €12,723
mainly Receivables within one year (+€11,039) and Trade debts (+€3,392)
- Profit (loss) carried forward -€9,247
down €9,247 (-30.0%), from -€30,835 to -€40,083
- Trade debts +€3,392
up €3,392 (+17.9%), from €18,950 to €22,342
- Other debts -€1,821
down €1,821 (-4.9%), from €37,128 to €35,306
- Tax, wage and social debts -€698
down €698 (-19.1%), from €3,648 to €2,949
- Gross operating margin -€2,846
down €2,846 (-61.2%), from -€4,651 to -€7,497
- Taxes -€571
no longer reported in 2025 (was €571)
- Depreciation -€452
no longer reported in 2025 (was €452)
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 | €49,782 | €40,967 | -€8,815 | -17.7% |
| Fixed assets | 21/28 | €1,083 | €1,083 | = | 0.0% |
| Financial fixed assets | 28 | €1,083 | €1,083 | = | 0.0% |
| Current assets | 29/58 | €48,699 | €39,885 | -€8,815 | -18.1% |
| Amounts receivable within one year | 40/41 | €36,705 | €25,666 | -€11,039 | -30.1% |
| Trade receivables | 40 | €36,705 | €25,666 | -€11,039 | -30.1% |
| Cash at bank and in hand | 54/58 | €10,627 | €12,723 | +€2,096 | +19.7% |
| Deferred charges and accrued income | 490/1 | €1,367 | €1,495 | +€128 | +9.4% |
| Total equity and liabilities | 10/49 | €49,782 | €40,967 | -€8,815 | -17.7% |
| Equity | 10/15 | -€10,383 | -€19,631 | -€9,247 | -89.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | - | -€18,592 | |
| Issued capital | 100 | €18,592 | - | -€18,592 | |
| Contributions outside capital | 11 | - | €18,592 | +€18,592 | |
| Other | 1109/19 | - | €18,592 | +€18,592 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€30,835 | -€40,083 | -€9,247 | -30.0% |
| Amounts payable | 17/49 | €60,165 | €60,598 | +€433 | +0.7% |
| Amounts payable within one year | 42/48 | €59,725 | €60,598 | +€872 | +1.5% |
| Trade debts | 44 | €18,950 | €22,342 | +€3,392 | +17.9% |
| Suppliers | 440/4 | €18,950 | €22,342 | +€3,392 | +17.9% |
| Taxes, remuneration and social security | 45 | €3,648 | €2,949 | -€698 | -19.1% |
| Taxes | 450/3 | €3,648 | €2,949 | -€698 | -19.1% |
| Other amounts payable | 47/48 | €37,128 | €35,306 | -€1,821 | -4.9% |
| Accrued charges and deferred income | 492/3 | €440 | - | -€440 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €452 | - | -€452 | |
| Other operating charges | 640/8 | €1,533 | €1,608 | +€75 | +4.9% |
| Gross operating margin | 9900 | -€4,651 | -€7,497 | -€2,846 | -61.2% |
| Operating profit (loss) | 9901 | -€6,635 | -€9,104 | -€2,469 | -37.2% |
| Financial charges | 65/66B | €120 | €143 | +€23 | +18.9% |
| Recurring financial charges | 65 | €120 | €143 | +€23 | +18.9% |
| Profit (loss) for the period before taxes | 9903 | -€6,755 | -€9,247 | -€2,492 | -36.9% |
| Income taxes | 67/77 | €571 | - | -€571 | |
| Profit (loss) for the period | 9904 | -€7,326 | -€9,247 | -€1,921 | -26.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,326 | -€9,247 | -€1,921 | -26.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.