R-DAN: 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-DAN
Largest movements
- Receivables within one year +€367,639
up €367,639 (+392.7%), from €93,619 to €461,258
of which Trade receivables: +€350,120
- Tangible fixed assets +€45,607
up €45,607 (+30.6%), from €149,080 to €194,687
of which Leasing and similar rights: +€74,145
- Trade debts +€254,615
up €254,615 (+2063.7%), from €12,338 to €266,953
- Profit (loss) carried forward +€70,438
up €70,438 (+59.1%), from €119,232 to €189,670
- Debts after one year +€54,268
up €54,268 (+86.1%), from €63,063 to €117,331
- Tax, wage and social debts +€15,203
up €15,203 (+33.4%), from €45,573 to €60,776
of which Remuneration and social security: +€7,615
- Current portion of long-term debt +€15,181
up €15,181 (+101.3%), from €14,985 to €30,165
- Depreciation +€18,960
up €18,960 (+97.3%), from €19,487 to €38,447
- Gross operating margin +€16,603
up €16,603 (+8.8%), from €187,993 to €204,596
- Taxes -€9,815
down €9,815 (-32.5%), from €30,206 to €20,391
- Financial charges -€3,502
down €3,502 (-29.5%), from €11,854 to €8,352
of which Financial charges: -€3,080
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 | €258,190 | €667,895 | +€409,705 | +158.7% |
| Fixed assets | 21/28 | €152,080 | €197,687 | +€45,607 | +30.0% |
| Tangible fixed assets | 22/27 | €149,080 | €194,687 | +€45,607 | +30.6% |
| Plant, machinery and equipment | 23 | €5,433 | €4,180 | -€1,253 | -23.1% |
| Furniture and vehicles | 24 | €49,781 | €22,498 | -€27,284 | -54.8% |
| Leasing and similar rights | 25 | €93,866 | €168,010 | +€74,145 | +79.0% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €106,110 | €470,208 | +€364,097 | +343.1% |
| Amounts receivable within one year | 40/41 | €93,619 | €461,258 | +€367,639 | +392.7% |
| Trade receivables | 40 | €66,730 | €416,851 | +€350,120 | +524.7% |
| Other amounts receivable | 41 | €26,889 | €44,407 | +€17,519 | +65.2% |
| Cash at bank and in hand | 54/58 | €40 | €2,263 | +€2,223 | +5580.1% |
| Deferred charges and accrued income | 490/1 | €12,452 | €6,687 | -€5,765 | -46.3% |
| Total equity and liabilities | 10/49 | €258,190 | €667,895 | +€409,705 | +158.7% |
| Equity | 10/15 | €122,232 | €192,670 | +€70,438 | +57.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,232 | €189,670 | +€70,438 | +59.1% |
| Amounts payable | 17/49 | €135,959 | €475,225 | +€339,267 | +249.5% |
| Amounts payable after more than one year | 17 | €63,063 | €117,331 | +€54,268 | +86.1% |
| Financial debts | 170/4 | €63,063 | €117,331 | +€54,268 | +86.1% |
| Amounts payable within one year | 42/48 | €72,896 | €357,894 | +€284,999 | +391.0% |
| Current portion of amounts payable after more than one year | 42 | €14,985 | €30,165 | +€15,181 | +101.3% |
| Trade debts | 44 | €12,338 | €266,953 | +€254,615 | +2063.7% |
| Suppliers | 440/4 | €12,338 | €266,953 | +€254,615 | +2063.7% |
| Taxes, remuneration and social security | 45 | €45,573 | €60,776 | +€15,203 | +33.4% |
| Taxes | 450/3 | €30,573 | €38,161 | +€7,588 | +24.8% |
| Remuneration and social security | 454/9 | €15,000 | €22,615 | +€7,615 | +50.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,487 | €38,447 | +€18,960 | +97.3% |
| Other operating charges | 640/8 | €8,142 | €7,273 | -€869 | -10.7% |
| Non-recurring operating charges | 66A | - | €59,912 | +€59,912 | |
| Gross operating margin | 9900 | €187,993 | €204,596 | +€16,603 | +8.8% |
| Operating profit (loss) | 9901 | €160,363 | €98,964 | -€61,400 | -38.3% |
| Financial income | 75/76B | €928 | €217 | -€711 | -76.6% |
| Recurring financial income | 75 | €905 | €217 | -€688 | -76.0% |
| Non-recurring financial income | 76B | €23 | - | -€23 | |
| Financial charges | 65/66B | €11,854 | €8,352 | -€3,502 | -29.5% |
| Recurring financial charges | 65 | €11,432 | €8,352 | -€3,080 | -26.9% |
| Non-recurring financial charges | 66B | €422 | - | -€422 | |
| Profit (loss) for the period before taxes | 9903 | €149,438 | €90,829 | -€58,609 | -39.2% |
| Income taxes | 67/77 | €30,206 | €20,391 | -€9,815 | -32.5% |
| Profit (loss) for the period | 9904 | €119,232 | €70,438 | -€48,794 | -40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €119,232 | €70,438 | -€48,794 | -40.9% |
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 5 October 2026 via checked.be.