R&G MODE: 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 MODE
Largest movements
- Receivables within one year -€75,703
down €75,703 (-14.1%), from €536,557 to €460,855
of which Trade receivables: -€42,182
- Cash +€49,246
up €49,246 (+1,087%), from €4,529 to €53,775
mainly Receivables within one year (+€75,703) and Trade debts (+€43,225)
- Deferred charges and accrued income -€31,063
down €31,063 (-25.9%), from €120,085 to €89,022
- Tangible fixed assets -€26,449
down €26,449 (-30.5%), from €86,642 to €60,193
- Stocks and contracts -€22,356
down €22,356 (-100%), from €22,356 to €0
- Debts after one year -€164,706
down €164,706 (-34.5%), from €477,561 to €312,855
of which Other amounts payable: -€161,549
- Trade debts +€43,225
up €43,225 (+32.1%), from €134,537 to €177,761
- Tax, wage and social debts +€21,459
up €21,459 (+581%), from €3,693 to €25,152
of which Taxes: +€22,929
- Current portion of long-term debt -€15,302
down €15,302 (-82.9%), from €18,460 to €3,158
- Reserves +€8,946
up €8,946 (+6.9%), from €129,310 to €138,256
- Financial charges -€9,098
down €9,098 (-29.6%), from €30,784 to €21,686
- Gross operating margin -€3,997
down €3,997 (-7.0%), from €57,260 to €53,263
- Depreciation -€3,718
down €3,718 (-15.6%), from €23,800 to €20,083
- Other operating charges +€2,418
up €2,418 (+39.3%), from €6,149 to €8,568
- Taxes +€2,010
up €2,010 (+90.4%), from €2,223 to €4,233
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 | €770,169 | €663,845 | -€106,324 | -13.8% |
| Fixed assets | 21/28 | €86,642 | €60,193 | -€26,449 | -30.5% |
| Tangible fixed assets | 22/27 | €86,642 | €60,193 | -€26,449 | -30.5% |
| Other tangible fixed assets | 26 | €86,642 | €60,193 | -€26,449 | -30.5% |
| Current assets | 29/58 | €683,527 | €603,652 | -€79,875 | -11.7% |
| Stocks and contracts in progress | 3 | €22,356 | €0 | -€22,356 | -100% |
| Stocks | 30/36 | €22,356 | €0 | -€22,356 | -100% |
| Amounts receivable within one year | 40/41 | €536,557 | €460,855 | -€75,703 | -14.1% |
| Trade receivables | 40 | €308,443 | €266,261 | -€42,182 | -13.7% |
| Other amounts receivable | 41 | €228,115 | €194,594 | -€33,521 | -14.7% |
| Cash at bank and in hand | 54/58 | €4,529 | €53,775 | +€49,246 | +1,087% |
| Deferred charges and accrued income | 490/1 | €120,085 | €89,022 | -€31,063 | -25.9% |
| Total equity and liabilities | 10/49 | €770,169 | €663,845 | -€106,324 | -13.8% |
| Equity | 10/15 | €135,540 | €144,486 | +€8,946 | +6.6% |
| Contributions | 10/11 | €6,230 | €6,230 | = | 0.0% |
| Reserves | 13 | €129,310 | €138,256 | +€8,946 | +6.9% |
| Distributable reserves | 133 | €129,310 | €138,256 | +€8,946 | +6.9% |
| Amounts payable | 17/49 | €634,629 | €519,359 | -€115,270 | -18.2% |
| Amounts payable after more than one year | 17 | €477,561 | €312,855 | -€164,706 | -34.5% |
| Financial debts | 170/4 | €3,158 | €0 | -€3,158 | -100% |
| Other amounts payable | 178/9 | €474,404 | €312,855 | -€161,549 | -34.1% |
| Amounts payable within one year | 42/48 | €156,689 | €206,071 | +€49,382 | +31.5% |
| Current portion of amounts payable after more than one year | 42 | €18,460 | €3,158 | -€15,302 | -82.9% |
| Trade debts | 44 | €134,537 | €177,761 | +€43,225 | +32.1% |
| Suppliers | 440/4 | €134,537 | €177,761 | +€43,225 | +32.1% |
| Taxes, remuneration and social security | 45 | €3,693 | €25,152 | +€21,459 | +581% |
| Taxes | 450/3 | €2,223 | €25,152 | +€22,929 | +1,031% |
| Remuneration and social security | 454/9 | €1,470 | €0 | -€1,470 | -100% |
| Accrued charges and deferred income | 492/3 | €378 | €433 | +€54 | +14.3% |
| Non-recurring operating income | 76A | €1,746 | €0 | -€1,746 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,800 | €20,083 | -€3,718 | -15.6% |
| Other operating charges | 640/8 | €6,149 | €8,568 | +€2,418 | +39.3% |
| Gross operating margin | 9900 | €57,260 | €53,263 | -€3,997 | -7.0% |
| Operating profit (loss) | 9901 | €27,310 | €24,612 | -€2,698 | -9.9% |
| Financial income | 75/76B | €10,967 | €10,253 | -€714 | -6.5% |
| Recurring financial income | 75 | €10,967 | €10,253 | -€714 | -6.5% |
| Financial charges | 65/66B | €30,784 | €21,686 | -€9,098 | -29.6% |
| Recurring financial charges | 65 | €30,784 | €21,686 | -€9,098 | -29.6% |
| Profit (loss) for the period before taxes | 9903 | €7,493 | €13,179 | +€5,686 | +75.9% |
| Income taxes | 67/77 | €2,223 | €4,233 | +€2,010 | +90.4% |
| Profit (loss) for the period | 9904 | €5,270 | €8,946 | +€3,677 | +69.8% |
| Profit (loss) for the period to be appropriated | 9905 | €5,270 | €8,946 | +€3,677 | +69.8% |
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 21 October 2026 via checked.be.