R & D INTERNATIONAL: what changed
R & D INTERNATIONAL
Largest movements
- Tangible fixed assets -€41,903
down €41,903 (-10.2%), from €410,623 to €368,720
of which Land and buildings: -€26,233
- Receivables within one year -€14,760
down €14,760 (-41.9%), from €35,260 to €20,500
- Cash -€14,191
down €14,191 (-3.5%), from €403,546 to €389,355
mainly Net result for the year (-€35,768) and Debts after one year (-€24,158)
- Debts after one year -€24,158
down €24,158 (-12.2%), from €198,269 to €174,111
of which Other amounts payable: -€24,158
- Profit (loss) carried forward -€21,679
down €21,679 (-5.9%), from €366,279 to €344,600
- Reserves -€14,089
down €14,089 (-7.7%), from €182,364 to €168,274
of which Tax-exempt reserves: -€14,089
- Tax, wage and social debts -€11,752
down €11,752 (-94.6%), from €12,422 to €670
- Taxes -€51,752
down €51,752 (-99.8%), from €51,879 to €127
- Gross operating margin -€41,692
down €41,692 (-81.6%), from €51,102 to €9,410
- Other operating charges -€3,108
down €3,108 (-71.7%), from €4,337 to €1,229
- Financial charges -€2,993
down €2,993 (-76.5%), from €3,911 to €918
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €877,943 | €801,391 | -€76,552 | -8.7% |
| Fixed assets | 21/28 | €439,137 | €391,536 | -€47,601 | -10.8% |
| Intangible fixed assets | 21 | €28,489 | €22,791 | -€5,698 | -20.0% |
| Tangible fixed assets | 22/27 | €410,623 | €368,720 | -€41,903 | -10.2% |
| Land and buildings | 22 | €372,843 | €346,610 | -€26,233 | -7.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €37,780 | €22,110 | -€15,670 | -41.5% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €438,806 | €409,855 | -€28,951 | -6.6% |
| Amounts receivable within one year | 40/41 | €35,260 | €20,500 | -€14,760 | -41.9% |
| Other amounts receivable | 41 | €35,260 | €20,500 | -€14,760 | -41.9% |
| Cash at bank and in hand | 54/58 | €403,546 | €389,355 | -€14,191 | -3.5% |
| Total equity and liabilities | 10/49 | €877,943 | €801,391 | -€76,552 | -8.7% |
| Equity | 10/15 | €610,616 | €574,848 | -€35,768 | -5.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €182,364 | €168,274 | -€14,089 | -7.7% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €169,969 | €155,880 | -€14,089 | -8.3% |
| Distributable reserves | 133 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €366,279 | €344,600 | -€21,679 | -5.9% |
| Provisions and deferred taxes | 16 | €55,603 | €50,907 | -€4,696 | -8.4% |
| Deferred taxes | 168 | €55,603 | €50,907 | -€4,696 | -8.4% |
| Amounts payable | 17/49 | €211,724 | €175,637 | -€36,087 | -17.0% |
| Amounts payable after more than one year | 17 | €198,269 | €174,111 | -€24,158 | -12.2% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €198,269 | €174,111 | -€24,158 | -12.2% |
| Amounts payable within one year | 42/48 | €13,455 | €1,525 | -€11,930 | -88.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,033 | €855 | -€178 | -17.2% |
| Suppliers | 440/4 | €1,033 | €855 | -€178 | -17.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €12,422 | €670 | -€11,752 | -94.6% |
| Taxes | 450/3 | €12,422 | €670 | -€11,752 | -94.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €42,603 | €12,443 | -€30,160 | -70.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,601 | €47,601 | = | 0.0% |
| Other operating charges | 640/8 | €4,337 | €1,229 | -€3,108 | -71.7% |
| Non-recurring operating charges | 66A | €47,809 | €0 | -€47,809 | -100% |
| Gross operating margin | 9900 | €51,102 | €9,410 | -€41,692 | -81.6% |
| Operating profit (loss) | 9901 | -€48,644 | -€39,420 | +€9,225 | +19.0% |
| Financial income | 75/76B | €30 | €0 | -€30 | -100% |
| Recurring financial income | 75 | €30 | €0 | -€30 | -100% |
| Financial charges | 65/66B | €3,911 | €918 | -€2,993 | -76.5% |
| Recurring financial charges | 65 | €3,911 | €918 | -€2,993 | -76.5% |
| Profit (loss) for the period before taxes | 9903 | -€52,526 | -€40,338 | +€12,188 | +23.2% |
| Transfer from deferred taxes | 780 | €89,702 | €4,696 | -€85,006 | -94.8% |
| Income taxes | 67/77 | €51,879 | €127 | -€51,752 | -99.8% |
| Profit (loss) for the period | 9904 | -€14,702 | -€35,768 | -€21,066 | -143% |
| Transfer from tax-exempt reserves | 789 | €269,106 | €14,089 | -€255,017 | -94.8% |
| Profit (loss) for the period to be appropriated | 9905 | €254,404 | -€21,679 | -€276,083 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.