R.G.T.: 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.T.
Largest movements
- Cash +€160,888
up €160,888 (+118%), from €136,924 to €297,812
mainly Current investments (+€100,000) and Net result for the year (+€74,033)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Financial fixed assets +€9,000
up €9,000 (+900%), from €1,000 to €10,000
- Reserves +€74,033
up €74,033 (+18.7%), from €395,842 to €469,876
of which Distributable reserves: +€74,033
- Debts after one year -€22,863
down €22,863 (-36.8%), from €62,083 to €39,220
- Tax, wage and social debts +€9,434
up €9,434 (+18.5%), from €51,082 to €60,516
- Gross operating margin +€14,745
up €14,745 (+12.7%), from €116,054 to €130,799
- Depreciation +€4,086
up €4,086 (+21.4%), from €19,056 to €23,142
- Taxes +€3,075
up €3,075 (+10.6%), from €29,013 to €32,088
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 | €572,672 | €631,950 | +€59,278 | +10.4% |
| Fixed assets | 21/28 | €214,489 | €221,066 | +€6,577 | +3.1% |
| Tangible fixed assets | 22/27 | €213,489 | €211,066 | -€2,423 | -1.1% |
| Land and buildings | 22 | €181,731 | €168,894 | -€12,838 | -7.1% |
| Plant, machinery and equipment | 23 | €2,425 | €3,027 | +€603 | +24.9% |
| Furniture and vehicles | 24 | €29,333 | €39,145 | +€9,812 | +33.4% |
| Financial fixed assets | 28 | €1,000 | €10,000 | +€9,000 | +900% |
| Current assets | 29/58 | €358,183 | €410,885 | +€52,702 | +14.7% |
| Amounts receivable within one year | 40/41 | €115,161 | €108,987 | -€6,174 | -5.4% |
| Trade receivables | 40 | €111,374 | €108,987 | -€2,387 | -2.1% |
| Other amounts receivable | 41 | €3,786 | - | -€3,786 | |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €136,924 | €297,812 | +€160,888 | +118% |
| Deferred charges and accrued income | 490/1 | €6,099 | €4,086 | -€2,013 | -33.0% |
| Total equity and liabilities | 10/49 | €572,672 | €631,950 | +€59,278 | +10.4% |
| Equity | 10/15 | €414,442 | €488,476 | +€74,033 | +17.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €395,842 | €469,876 | +€74,033 | +18.7% |
| Tax-exempt reserves | 132 | €6,227 | €6,227 | = | 0.0% |
| Distributable reserves | 133 | €389,615 | €463,649 | +€74,033 | +19.0% |
| Amounts payable | 17/49 | €158,230 | €143,475 | -€14,755 | -9.3% |
| Amounts payable after more than one year | 17 | €62,083 | €39,220 | -€22,863 | -36.8% |
| Financial debts | 170/4 | €62,083 | €39,220 | -€22,863 | -36.8% |
| Amounts payable within one year | 42/48 | €96,146 | €104,255 | +€8,108 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €22,095 | €22,863 | +€768 | +3.5% |
| Trade debts | 44 | €22,716 | €19,693 | -€3,023 | -13.3% |
| Suppliers | 440/4 | €22,716 | €19,693 | -€3,023 | -13.3% |
| Taxes, remuneration and social security | 45 | €51,082 | €60,516 | +€9,434 | +18.5% |
| Taxes | 450/3 | €51,082 | €60,516 | +€9,434 | +18.5% |
| Other amounts payable | 47/48 | €253 | €1,182 | +€929 | +368% |
| Non-recurring operating income | 76A | €4,642 | - | -€4,642 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,056 | €23,142 | +€4,086 | +21.4% |
| Other operating charges | 640/8 | €2,030 | €1,659 | -€371 | -18.3% |
| Gross operating margin | 9900 | €116,054 | €130,799 | +€14,745 | +12.7% |
| Operating profit (loss) | 9901 | €94,968 | €105,998 | +€11,030 | +11.6% |
| Financial income | 75/76B | €3,650 | €3,886 | +€236 | +6.5% |
| Recurring financial income | 75 | €3,650 | €3,886 | +€236 | +6.5% |
| Financial charges | 65/66B | €4,964 | €3,762 | -€1,202 | -24.2% |
| Recurring financial charges | 65 | €4,964 | €3,762 | -€1,202 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €93,654 | €106,122 | +€12,468 | +13.3% |
| Income taxes | 67/77 | €29,013 | €32,088 | +€3,075 | +10.6% |
| Profit (loss) for the period | 9904 | €64,641 | €74,033 | +€9,393 | +14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €64,641 | €74,033 | +€9,393 | +14.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.