R Finance: 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 Finance
Largest movements
- Current investments +€7.0m
up €7.0m (+28.7%), from €24.5m to €31.5m
- Cash -€1.5m
down €1.5m (-79.4%), from €1.9m to €402,075
mainly Current investments (-€7.0m) and Receivables within one year (-€171,440)
- Short-term financial debts +€5.5m
up €5.5m (+20.9%), from €26.4m to €32.0m
- Financial charges +€230,251
up €230,251 (+71.5%), from €321,889 to €552,140
- Financial income +€156,984
up €156,984 (+31.8%), from €493,015 to €649,999
- Taxes -€18,161
down €18,161 (-43.2%), from €42,032 to €23,871
- Gross operating margin +€625
up €625 (+20.8%), from -€2,999 to -€2,374
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 | €26,857,867 | €32,226,708 | +€5.4m | +20.0% |
| Current assets | 29/58 | €26,857,867 | €32,226,708 | +€5.4m | +20.0% |
| Amounts receivable within one year | 40/41 | €105,675 | €277,116 | +€171,440 | +162% |
| Other amounts receivable | 41 | €105,675 | €277,116 | +€171,440 | +162% |
| Current investments | 50/53 | €24,450,000 | €31,477,248 | +€7.0m | +28.7% |
| Cash at bank and in hand | 54/58 | €1,947,910 | €402,075 | -€1.5m | -79.4% |
| Deferred charges and accrued income | 490/1 | €354,281 | €70,269 | -€284,013 | -80.2% |
| Total equity and liabilities | 10/49 | €26,857,867 | €32,226,708 | +€5.4m | +20.0% |
| Equity | 10/15 | €68,435 | €68,749 | +€314 | +0.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €235 | €549 | +€314 | +133% |
| Amounts payable | 17/49 | €26,789,432 | €32,157,958 | +€5.4m | +20.0% |
| Amounts payable within one year | 42/48 | €26,551,330 | €32,037,699 | +€5.5m | +20.7% |
| Financial debts | 43 | €26,430,550 | €31,966,399 | +€5.5m | +20.9% |
| Other loans | 439 | €26,430,550 | €31,966,399 | +€5.5m | +20.9% |
| Other amounts payable | 47/48 | €120,780 | €71,300 | -€49,480 | -41.0% |
| Accrued charges and deferred income | 492/3 | €238,102 | €120,259 | -€117,842 | -49.5% |
| Gross operating margin | 9900 | -€2,999 | -€2,374 | +€625 | +20.8% |
| Operating profit (loss) | 9901 | -€2,999 | -€2,374 | +€625 | +20.8% |
| Financial income | 75/76B | €493,015 | €649,999 | +€156,984 | +31.8% |
| Recurring financial income | 75 | €493,015 | €649,999 | +€156,984 | +31.8% |
| Financial charges | 65/66B | €321,889 | €552,140 | +€230,251 | +71.5% |
| Recurring financial charges | 65 | €321,889 | €552,140 | +€230,251 | +71.5% |
| Profit (loss) for the period before taxes | 9903 | €168,127 | €95,485 | -€72,642 | -43.2% |
| Income taxes | 67/77 | €42,032 | €23,871 | -€18,161 | -43.2% |
| Profit (loss) for the period | 9904 | €126,095 | €71,614 | -€54,482 | -43.2% |
| Profit (loss) for the period to be appropriated | 9905 | €126,095 | €71,614 | -€54,482 | -43.2% |
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 30 October 2026 via checked.be.