R&D EXPRESS: 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 EXPRESS
Largest movements
- Receivables within one year +€19,092
up €19,092 (+246.3%), from €7,753 to €26,845
of which Trade receivables: +€11,524
- Cash +€1,925
up €1,925 (+67.1%), from €2,869 to €4,794
mainly Net result for the year (+€21,621) and Tax, wage and social debts (+€6,796)
- Deferred charges and accrued income -€847
no longer reported in 2025 (was €847)
- Profit (loss) carried forward +€21,621
up €21,621 (+468.8%), from €4,612 to €26,233
- Other debts -€7,870
down €7,870 (-74.8%), from €10,517 to €2,647
- Tax, wage and social debts +€6,796
up €6,796 (+392.4%), from €1,732 to €8,528
of which Taxes: +€5,343
- Gross operating margin +€19,156
up €19,156 (+123.6%), from €15,498 to €34,654
- Taxes +€6,228
up €6,228 (+370.7%), from €1,680 to €7,908
- Staff costs -€3,637
down €3,637 (-44.9%), from €8,104 to €4,467
- Other operating charges -€1,407
down €1,407 (-71.6%), from €1,964 to €557
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 | €17,609 | €37,779 | +€20,170 | +114.5% |
| Current assets | 29/58 | €17,609 | €37,779 | +€20,170 | +114.5% |
| Stocks and contracts in progress | 3 | €6,140 | €6,140 | = | 0.0% |
| Stocks | 30/36 | €6,140 | €6,140 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,753 | €26,845 | +€19,092 | +246.3% |
| Trade receivables | 40 | - | €11,524 | +€11,524 | |
| Other amounts receivable | 41 | €7,753 | €15,321 | +€7,568 | +97.6% |
| Cash at bank and in hand | 54/58 | €2,869 | €4,794 | +€1,925 | +67.1% |
| Deferred charges and accrued income | 490/1 | €847 | - | -€847 | |
| Total equity and liabilities | 10/49 | €17,609 | €37,779 | +€20,170 | +114.5% |
| Equity | 10/15 | €4,612 | €26,233 | +€21,621 | +468.8% |
| Profit (loss) carried forward | 14 | €4,612 | €26,233 | +€21,621 | +468.8% |
| Amounts payable | 17/49 | €12,997 | €11,546 | -€1,451 | -11.2% |
| Amounts payable within one year | 42/48 | €12,997 | €11,546 | -€1,451 | -11.2% |
| Trade debts | 44 | €748 | €371 | -€377 | -50.4% |
| Suppliers | 440/4 | €748 | €371 | -€377 | -50.4% |
| Taxes, remuneration and social security | 45 | €1,732 | €8,528 | +€6,796 | +392.4% |
| Taxes | 450/3 | €1,732 | €7,075 | +€5,343 | +308.5% |
| Remuneration and social security | 454/9 | - | €1,453 | +€1,453 | |
| Other amounts payable | 47/48 | €10,517 | €2,647 | -€7,870 | -74.8% |
| Non-recurring operating income | 76A | €10,395 | €901 | -€9,494 | -91.3% |
| Remuneration, social security and pensions | 62 | €8,104 | €4,467 | -€3,637 | -44.9% |
| Other operating charges | 640/8 | €1,964 | €557 | -€1,407 | -71.6% |
| Gross operating margin | 9900 | €15,498 | €34,654 | +€19,156 | +123.6% |
| Operating profit (loss) | 9901 | €5,430 | €29,630 | +€24,200 | +445.7% |
| Financial charges | 65/66B | €138 | €101 | -€37 | -26.8% |
| Recurring financial charges | 65 | €138 | €101 | -€37 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | €5,292 | €29,529 | +€24,237 | +458.0% |
| Income taxes | 67/77 | €1,680 | €7,908 | +€6,228 | +370.7% |
| Profit (loss) for the period | 9904 | €3,612 | €21,621 | +€18,009 | +498.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,612 | €21,621 | +€18,009 | +498.6% |
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 8 October 2026 via checked.be.