R&D GROUP: 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 GROUP
Largest movements
- Cash +€566,080
up €566,080 (+43.8%), from €1.3m to €1.9m
mainly Investment in fixed assets (net) (+€405,525) and Net result for the year (+€315,148)
- Financial fixed assets -€405,525
down €405,525 (-2.7%), from €15.1m to €14.7m
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€31,059
down €31,059 (-7.3%), from €427,031 to €395,972
- Taxes -€11,602
down €11,602 (-9.9%), from €117,603 to €106,001
- Financial income -€6,649
down €6,649 (-19.0%), from €35,015 to €28,366
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 | €16,566,424 | €16,700,419 | +€133,995 | +0.8% |
| Fixed assets | 21/28 | €15,107,754 | €14,702,229 | -€405,525 | -2.7% |
| Financial fixed assets | 28 | €15,107,754 | €14,702,229 | -€405,525 | -2.7% |
| Current assets | 29/58 | €1,458,670 | €1,998,190 | +€539,520 | +37.0% |
| Amounts receivable within one year | 40/41 | €131,975 | €108,833 | -€23,142 | -17.5% |
| Trade receivables | 40 | €131,975 | €104,834 | -€27,140 | -20.6% |
| Other amounts receivable | 41 | €0 | €3,999 | +€3,999 | |
| Cash at bank and in hand | 54/58 | €1,292,086 | €1,858,166 | +€566,080 | +43.8% |
| Deferred charges and accrued income | 490/1 | €34,609 | €31,191 | -€3,418 | -9.9% |
| Total equity and liabilities | 10/49 | €16,566,424 | €16,700,419 | +€133,995 | +0.8% |
| Equity | 10/15 | €16,420,354 | €16,529,781 | +€109,428 | +0.7% |
| Contributions | 10/11 | €9,532,922 | €9,532,922 | = | 0.0% |
| Reserves | 13 | €6,253,292 | €6,253,292 | = | 0.0% |
| Non-distributable reserves | 130/1 | €953,292 | €953,292 | = | 0.0% |
| Reserves not available under the articles | 1311 | €953,292 | €953,292 | = | 0.0% |
| Distributable reserves | 133 | €5,300,000 | €5,300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €634,139 | €743,567 | +€109,428 | +17.3% |
| Amounts payable | 17/49 | €146,070 | €170,637 | +€24,567 | +16.8% |
| Amounts payable within one year | 42/48 | €146,070 | €170,637 | +€24,567 | +16.8% |
| Trade debts | 44 | €4,149 | €1,021 | -€3,128 | -75.4% |
| Suppliers | 440/4 | €4,149 | €1,021 | -€3,128 | -75.4% |
| Taxes, remuneration and social security | 45 | €129,917 | €157,613 | +€27,695 | +21.3% |
| Taxes | 450/3 | €125,567 | €153,263 | +€27,695 | +22.1% |
| Remuneration and social security | 454/9 | €4,350 | €4,350 | = | 0.0% |
| Other amounts payable | 47/48 | €12,004 | €12,004 | = | 0.0% |
| Other operating charges | 640/8 | €2,441 | €2,512 | +€71 | +2.9% |
| Gross operating margin | 9900 | €427,031 | €395,972 | -€31,059 | -7.3% |
| Operating profit (loss) | 9901 | €424,590 | €393,460 | -€31,130 | -7.3% |
| Financial income | 75/76B | €35,015 | €28,366 | -€6,649 | -19.0% |
| Recurring financial income | 75 | €35,015 | €28,366 | -€6,649 | -19.0% |
| Financial charges | 65/66B | €917 | €677 | -€240 | -26.1% |
| Recurring financial charges | 65 | €917 | €677 | -€240 | -26.1% |
| Profit (loss) for the period before taxes | 9903 | €458,689 | €421,149 | -€37,540 | -8.2% |
| Income taxes | 67/77 | €117,603 | €106,001 | -€11,602 | -9.9% |
| Profit (loss) for the period | 9904 | €341,086 | €315,148 | -€25,938 | -7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €341,086 | €315,148 | -€25,938 | -7.6% |
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 23 October 2026 via checked.be.