R.G.V.: what changed
What changed
R.G.V.
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
€50,310
2024 · €35,718+€14,592
Equity
€138,949
2024 · €168,639-€29,690
Cash
€239,817
2024 · €48,278+€191,539
Balance sheet total
€254,891
2024 · €204,631+€50,260
Largest movements
Assets
- Cash +€191,539
up €191,539 (+397%), from €48,278 to €239,817
mainly Current investments (+€130,099) and Other debts (+€64,325)
- Current investments -€130,099
no longer reported in 2025 (was €130,099)
- Tangible fixed assets -€8,862
down €8,862 (-40.7%), from €21,754 to €12,893
of which Furniture and vehicles: -€7,955
Equity and liabilities
- Other debts +€64,325
up €64,325 (+1,228%), from €5,240 to €69,565
- Reserves -€35,000
down €35,000 (-23.2%), from €150,860 to €115,860
of which Non-distributable reserves: -€44,000
- Tax, wage and social debts +€13,619
up €13,619 (+261%), from €5,220 to €18,839
- Trade debts +€10,185
up €10,185 (+73.0%), from €13,946 to €24,131
- Profit (loss) carried forward +€5,310
up €5,310 (+64.9%), from €8,179 to €13,489
Income statement
- Staff costs -€9,224
down €9,224 (-10.5%), from €88,233 to €79,009
- Gross operating margin +€4,905
up €4,905 (+3.5%), from €142,018 to €146,923
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€35,718
Gross operating margin
+€4,905
Staff costs
+€9,224
Depreciation
-€473
Other operating charges
-€672
Other operating items
+€364
Financial income
+€610
Financial charges
+€95
Taxes
+€539
Result 2025
€50,310
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€151,359
Investment
+€128,358
Financing
-€88,178
Cash 2024
€48,278
From operations (derived)
+€151,359
Net result for the year
+€50,310
Depreciation
+€10,603
Receivables within one year
+€2,318
Trade debts
+€10,185
Tax, wage and social debts
+€13,619
Other debts
+€64,325
Investment (derived)
+€128,358
Investment in fixed assets (net)
-€1,741
Current investments
+€130,099
Financing
-€88,178
Debts after one year
-€3,408
Current portion of long-term debt
-€4,770
Contributions, distributions and other
-€80,000
Cash 2025
€239,817
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €204,631 | €254,891 | +€50,260 | +24.6% |
| Fixed assets | 21/28 | €21,804 | €12,943 | -€8,862 | -40.6% |
| Tangible fixed assets | 22/27 | €21,754 | €12,893 | -€8,862 | -40.7% |
| Land and buildings | 22 | - | €17 | +€17 | |
| Plant, machinery and equipment | 23 | €6,176 | €5,252 | -€924 | -15.0% |
| Furniture and vehicles | 24 | €15,579 | €7,623 | -€7,955 | -51.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €182,827 | €241,949 | +€59,122 | +32.3% |
| Amounts receivable within one year | 40/41 | €4,450 | €2,132 | -€2,318 | -52.1% |
| Trade receivables | 40 | €1,976 | €2,132 | +€156 | +7.9% |
| Other amounts receivable | 41 | €2,473 | - | -€2,473 | |
| Current investments | 50/53 | €130,099 | - | -€130,099 | |
| Cash at bank and in hand | 54/58 | €48,278 | €239,817 | +€191,539 | +397% |
| Total equity and liabilities | 10/49 | €204,631 | €254,891 | +€50,260 | +24.6% |
| Equity | 10/15 | €168,639 | €138,949 | -€29,690 | -17.6% |
| Contributions | 10/11 | €9,600 | €9,600 | = | 0.0% |
| Capital | 10 | €9,600 | €9,600 | = | 0.0% |
| Issued capital | 100 | €9,600 | €9,600 | = | 0.0% |
| Reserves | 13 | €150,860 | €115,860 | -€35,000 | -23.2% |
| Non-distributable reserves | 130/1 | €45,860 | €1,860 | -€44,000 | -95.9% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €44,000 | - | -€44,000 | |
| Distributable reserves | 133 | €105,000 | €114,000 | +€9,000 | +8.6% |
| Profit (loss) carried forward | 14 | €8,179 | €13,489 | +€5,310 | +64.9% |
| Amounts payable | 17/49 | €35,992 | €115,943 | +€79,950 | +222% |
| Amounts payable after more than one year | 17 | €3,408 | - | -€3,408 | |
| Financial debts | 170/4 | €3,408 | - | -€3,408 | |
| Amounts payable within one year | 42/48 | €32,584 | €115,943 | +€83,358 | +256% |
| Current portion of amounts payable after more than one year | 42 | €8,178 | €3,408 | -€4,770 | -58.3% |
| Trade debts | 44 | €13,946 | €24,131 | +€10,185 | +73.0% |
| Suppliers | 440/4 | €13,946 | €24,131 | +€10,185 | +73.0% |
| Taxes, remuneration and social security | 45 | €5,220 | €18,839 | +€13,619 | +261% |
| Taxes | 450/3 | €5,220 | €18,839 | +€13,619 | +261% |
| Other amounts payable | 47/48 | €5,240 | €69,565 | +€64,325 | +1,228% |
| Remuneration, social security and pensions | 62 | €88,233 | €79,009 | -€9,224 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,129 | €10,603 | +€473 | +4.7% |
| Other operating charges | 640/8 | €3,923 | €4,595 | +€672 | +17.1% |
| Non-recurring operating charges | 66A | €539 | €175 | -€364 | -67.6% |
| Gross operating margin | 9900 | €142,018 | €146,923 | +€4,905 | +3.5% |
| Operating profit (loss) | 9901 | €39,193 | €52,542 | +€13,349 | +34.1% |
| Financial income | 75/76B | €1,158 | €1,769 | +€610 | +52.7% |
| Recurring financial income | 75 | €1,158 | €1,769 | +€610 | +52.7% |
| Financial charges | 65/66B | €634 | €540 | -€95 | -14.9% |
| Recurring financial charges | 65 | €634 | €540 | -€95 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €39,718 | €53,771 | +€14,053 | +35.4% |
| Income taxes | 67/77 | €4,000 | €3,461 | -€539 | -13.5% |
| Profit (loss) for the period | 9904 | €35,718 | €50,310 | +€14,592 | +40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,718 | €50,310 | +€14,592 | +40.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.