R.D. PROJECTS: 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. PROJECTS
Largest movements
- Stocks and contracts +€6,610
new in 2025: €6,610
- Receivables within one year -€2,684
no longer reported in 2025 (was €2,684)
- Tangible fixed assets -€2,272
down €2,272 (-89.3%), from €2,544 to €272
- Cash -€525
down €525 (-11.2%), from €4,689 to €4,164
mainly Stocks and contracts (-€6,610) and Tax, wage and social debts (-€842)
- Profit (loss) carried forward +€1,268
up €1,268 (+3.3%), from -€38,969 to -€37,701
- Trade debts +€1,262
new in 2025: €1,262
- Tax, wage and social debts -€842
down €842 (-23.8%), from €3,534 to €2,692
- Short-term financial debts -€560
down €560 (-6.6%), from €8,497 to €7,937
- Turnover -€15,882
down €15,882 (-15.6%), from €101,819 to €85,937
- Purchases and services -€12,894
down €12,894 (-13.5%), from €95,216 to €82,322
- Gross operating margin -€2,988
down €2,988 (-45.3%), from €6,603 to €3,615
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 | €9,917 | €11,046 | +€1,129 | +11.4% |
| Fixed assets | 21/28 | €2,544 | €272 | -€2,272 | -89.3% |
| Tangible fixed assets | 22/27 | €2,544 | €272 | -€2,272 | -89.3% |
| Furniture and vehicles | 24 | €2,544 | €272 | -€2,272 | -89.3% |
| Current assets | 29/58 | €7,373 | €10,774 | +€3,401 | +46.1% |
| Stocks and contracts in progress | 3 | - | €6,610 | +€6,610 | |
| Stocks | 30/36 | - | €6,610 | +€6,610 | |
| Amounts receivable within one year | 40/41 | €2,684 | - | -€2,684 | |
| Trade receivables | 40 | €2,684 | - | -€2,684 | |
| Cash at bank and in hand | 54/58 | €4,689 | €4,164 | -€525 | -11.2% |
| Total equity and liabilities | 10/49 | €9,917 | €11,046 | +€1,129 | +11.4% |
| Equity | 10/15 | -€2,113 | -€845 | +€1,268 | +60.0% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Capital | 10 | €31,000 | €31,000 | = | 0.0% |
| Issued capital | 100 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €5,855 | €5,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,855 | €3,099 | -€2,757 | -47.1% |
| Legal reserve | 130 | €5,855 | €3,099 | -€2,757 | -47.1% |
| Distributable reserves | 133 | - | €2,757 | +€2,757 | |
| Profit (loss) carried forward | 14 | -€38,969 | -€37,701 | +€1,268 | +3.3% |
| Amounts payable | 17/49 | €12,031 | €11,891 | -€140 | -1.2% |
| Amounts payable within one year | 42/48 | €12,031 | €11,891 | -€140 | -1.2% |
| Financial debts | 43 | €8,497 | €7,937 | -€560 | -6.6% |
| Other loans | 439 | €8,497 | €7,937 | -€560 | -6.6% |
| Trade debts | 44 | - | €1,262 | +€1,262 | |
| Suppliers | 440/4 | - | €1,262 | +€1,262 | |
| Taxes, remuneration and social security | 45 | €3,534 | €2,692 | -€842 | -23.8% |
| Taxes | 450/3 | €3,534 | €2,692 | -€842 | -23.8% |
| Turnover | 70 | €101,819 | €85,937 | -€15,882 | -15.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €95,216 | €82,322 | -€12,894 | -13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,272 | €2,272 | = | 0.0% |
| Other operating charges | 640/8 | €15 | €10 | -€5 | -32.9% |
| Gross operating margin | 9900 | €6,603 | €3,615 | -€2,988 | -45.3% |
| Operating profit (loss) | 9901 | €4,316 | €1,333 | -€2,984 | -69.1% |
| Financial charges | 65/66B | €203 | €65 | -€138 | -68.1% |
| Recurring financial charges | 65 | €203 | €65 | -€138 | -68.1% |
| Profit (loss) for the period before taxes | 9903 | €4,114 | €1,268 | -€2,845 | -69.2% |
| Profit (loss) for the period | 9904 | €4,114 | €1,268 | -€2,845 | -69.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,114 | €1,268 | -€2,845 | -69.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.