R&G: 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&G
Largest movements
- Tangible fixed assets -€17,964
down €17,964 (-4.7%), from €383,428 to €365,464
- Debts after one year -€29,617
down €29,617 (-16.5%), from €179,797 to €150,180
- Reserves +€20,640
up €20,640 (+50.7%), from €40,689 to €61,328
of which Distributable reserves: +€20,640
- Other debts -€8,520
down €8,520 (-55.1%), from €15,467 to €6,948
- Gross operating margin -€1,316
down €1,316 (-2.3%), from €56,700 to €55,383
- Depreciation -€1,127
down €1,127 (-5.1%), from €22,074 to €20,947
- Financial charges -€795
down €795 (-17.8%), from €4,454 to €3,660
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 | €391,473 | €372,118 | -€19,355 | -4.9% |
| Fixed assets | 21/28 | €383,428 | €365,464 | -€17,964 | -4.7% |
| Tangible fixed assets | 22/27 | €383,428 | €365,464 | -€17,964 | -4.7% |
| Land and buildings | 22 | €383,428 | €365,464 | -€17,964 | -4.7% |
| Current assets | 29/58 | €8,045 | €6,654 | -€1,391 | -17.3% |
| Amounts receivable within one year | 40/41 | €2,353 | €2,484 | +€131 | +5.6% |
| Other amounts receivable | 41 | €2,353 | €2,484 | +€131 | +5.6% |
| Cash at bank and in hand | 54/58 | €5,693 | €4,170 | -€1,522 | -26.7% |
| Total equity and liabilities | 10/49 | €391,473 | €372,118 | -€19,355 | -4.9% |
| Equity | 10/15 | €156,214 | €176,853 | +€20,640 | +13.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €40,689 | €61,328 | +€20,640 | +50.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €38,829 | €59,468 | +€20,640 | +53.2% |
| Profit (loss) carried forward | 14 | €96,925 | €96,925 | = | 0.0% |
| Amounts payable | 17/49 | €235,259 | €195,265 | -€39,995 | -17.0% |
| Amounts payable after more than one year | 17 | €179,797 | €150,180 | -€29,617 | -16.5% |
| Financial debts | 170/4 | €179,797 | €150,180 | -€29,617 | -16.5% |
| Amounts payable within one year | 42/48 | €51,938 | €41,584 | -€10,354 | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €29,560 | €29,953 | +€393 | +1.3% |
| Trade debts | 44 | €320 | €400 | +€80 | +24.9% |
| Suppliers | 440/4 | €320 | €400 | +€80 | +24.9% |
| Taxes, remuneration and social security | 45 | €6,591 | €4,284 | -€2,307 | -35.0% |
| Taxes | 450/3 | €6,591 | €4,284 | -€2,307 | -35.0% |
| Other amounts payable | 47/48 | €15,467 | €6,948 | -€8,520 | -55.1% |
| Accrued charges and deferred income | 492/3 | €3,524 | €3,500 | -€24 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,074 | €20,947 | -€1,127 | -5.1% |
| Other operating charges | 640/8 | €513 | €549 | +€36 | +7.1% |
| Gross operating margin | 9900 | €56,700 | €55,383 | -€1,316 | -2.3% |
| Operating profit (loss) | 9901 | €34,112 | €33,887 | -€225 | -0.7% |
| Financial income | 75/76B | €90 | €131 | +€41 | +45.7% |
| Recurring financial income | 75 | €90 | €131 | +€41 | +45.7% |
| Financial charges | 65/66B | €4,454 | €3,660 | -€795 | -17.8% |
| Recurring financial charges | 65 | €4,454 | €3,660 | -€795 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €29,748 | €30,359 | +€611 | +2.1% |
| Income taxes | 67/77 | €9,565 | €9,719 | +€154 | +1.6% |
| Profit (loss) for the period | 9904 | €20,183 | €20,640 | +€456 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,183 | €20,640 | +€456 | +2.3% |
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 18 October 2026 via checked.be.