R&D Technics: 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 Technics
Largest movements
- Receivables within one year -€48,619
down €48,619 (-53.3%), from €91,186 to €42,567
of which Trade receivables: -€56,797
- Cash +€40,004
up €40,004 (+23.3%), from €171,721 to €211,725
mainly Receivables within one year (+€48,619) and Net result for the year (+€42,611)
- Deferred charges and accrued income -€5,992
down €5,992 (-80.5%), from €7,446 to €1,454
- Trade debts -€61,488
down €61,488 (-92.2%), from €66,674 to €5,185
- Profit (loss) carried forward +€39,321
up €39,321 (+69.3%), from €56,729 to €96,050
- Tax, wage and social debts +€14,467
up €14,467 (+283%), from €5,104 to €19,571
of which Taxes: +€14,467
- Advances received -€9,842
down €9,842 (-79.8%), from €12,337 to €2,495
- Other debts +€2,962
up €2,962 (+3.1%), from €94,047 to €97,009
- Gross operating margin +€29,357
up €29,357 (+67.4%), from €43,550 to €72,907
- Write-downs +€10,246
new in 2025: €10,246
- Taxes +€7,300
up €7,300 (+61.5%), from €11,877 to €19,177
- Financial income +€2,056
up €2,056 (+100%), from €2,055 to €4,112
of which Financial income: +€2,056
- Depreciation -€1,896
down €1,896 (-45.8%), from €4,137 to €2,241
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 | €278,217 | €261,370 | -€16,847 | -6.1% |
| Fixed assets | 21/28 | €7,864 | €5,623 | -€2,241 | -28.5% |
| Tangible fixed assets | 22/27 | €7,864 | €5,623 | -€2,241 | -28.5% |
| Furniture and vehicles | 24 | €989 | €446 | -€543 | -54.9% |
| Other tangible fixed assets | 26 | €6,874 | €5,177 | -€1,698 | -24.7% |
| Current assets | 29/58 | €270,353 | €255,747 | -€14,607 | -5.4% |
| Amounts receivable within one year | 40/41 | €91,186 | €42,567 | -€48,619 | -53.3% |
| Trade receivables | 40 | €86,405 | €29,607 | -€56,797 | -65.7% |
| Other amounts receivable | 41 | €4,782 | €12,960 | +€8,178 | +171% |
| Cash at bank and in hand | 54/58 | €171,721 | €211,725 | +€40,004 | +23.3% |
| Deferred charges and accrued income | 490/1 | €7,446 | €1,454 | -€5,992 | -80.5% |
| Total equity and liabilities | 10/49 | €278,217 | €261,370 | -€16,847 | -6.1% |
| Equity | 10/15 | €97,789 | €137,110 | +€39,321 | +40.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €34,860 | €34,860 | = | 0.0% |
| Distributable reserves | 133 | €34,860 | €34,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,729 | €96,050 | +€39,321 | +69.3% |
| Amounts payable | 17/49 | €180,428 | €124,260 | -€56,168 | -31.1% |
| Amounts payable after more than one year | 17 | €2,266 | €0 | -€2,266 | -100% |
| Other amounts payable | 178/9 | €2,266 | €0 | -€2,266 | -100% |
| Amounts payable within one year | 42/48 | €178,162 | €124,260 | -€53,902 | -30.3% |
| Trade debts | 44 | €66,674 | €5,185 | -€61,488 | -92.2% |
| Suppliers | 440/4 | €66,674 | €5,185 | -€61,488 | -92.2% |
| Advances received on contracts in progress | 46 | €12,337 | €2,495 | -€9,842 | -79.8% |
| Taxes, remuneration and social security | 45 | €5,104 | €19,571 | +€14,467 | +283% |
| Taxes | 450/3 | €5,104 | €19,571 | +€14,467 | +283% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €94,047 | €97,009 | +€2,962 | +3.1% |
| Remuneration, social security and pensions | 62 | €1,150 | €0 | -€1,150 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,137 | €2,241 | -€1,896 | -45.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,246 | +€10,246 | |
| Other operating charges | 640/8 | €1,027 | €1,558 | +€531 | +51.7% |
| Gross operating margin | 9900 | €43,550 | €72,907 | +€29,357 | +67.4% |
| Operating profit (loss) | 9901 | €37,235 | €58,862 | +€21,627 | +58.1% |
| Financial income | 75/76B | €2,055 | €4,112 | +€2,056 | +100% |
| Recurring financial income | 75 | €2,055 | €4,112 | +€2,056 | +100% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €453 | €1,186 | +€733 | +162% |
| Recurring financial charges | 65 | €453 | €1,186 | +€733 | +162% |
| Profit (loss) for the period before taxes | 9903 | €38,838 | €61,787 | +€22,950 | +59.1% |
| Income taxes | 67/77 | €11,877 | €19,177 | +€7,300 | +61.5% |
| Profit (loss) for the period | 9904 | €26,961 | €42,611 | +€15,650 | +58.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,961 | €42,611 | +€15,650 | +58.0% |
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.