R.H. LOCATION: what changed
Two fiscal 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.H. LOCATION
Largest movements
- Tangible fixed assets -€99,722
down €99,722 (-24.9%), from €399,916 to €300,194
of which Plant, machinery and equipment: -€54,557
- Cash +€34,864
up €34,864 (+867.8%), from €4,018 to €38,882
mainly Depreciation (+€130,824) and Other debts (+€9,519)
- Receivables within one year -€7,190
down €7,190 (-8.2%), from €88,193 to €81,003
of which Trade receivables: -€6,011
- Tax, wage and social debts -€31,290
down €31,290 (-46.4%), from €67,441 to €36,150
of which Taxes: -€29,105
- Debts after one year -€27,748
down €27,748 (-31.9%), from €86,893 to €59,145
- Other debts +€9,519
up €9,519 (+147.3%), from €6,462 to €15,980
- Reserves -€9,010
down €9,010 (-3.4%), from €267,296 to €258,287
of which Tax-exempt reserves: -€19,910
- Trade debts -€8,855
down €8,855 (-60.1%), from €14,729 to €5,874
- Gross operating margin -€69,345
down €69,345 (-32.5%), from €213,674 to €144,329
- Staff costs -€20,262
down €20,262 (-50.3%), from €40,323 to €20,060
- Taxes -€18,479
down €18,479 (-80.4%), from €22,973 to €4,494
- Depreciation +€10,743
up €10,743 (+8.9%), from €120,081 to €130,824
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.
Cash bridge derived
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 | €498,533 | €425,141 | -€73,392 | -14.7% |
| Fixed assets | 21/28 | €399,916 | €300,194 | -€99,722 | -24.9% |
| Tangible fixed assets | 22/27 | €399,916 | €300,194 | -€99,722 | -24.9% |
| Land and buildings | 22 | €71,302 | €64,313 | -€6,989 | -9.8% |
| Plant, machinery and equipment | 23 | €225,463 | €170,906 | -€54,557 | -24.2% |
| Furniture and vehicles | 24 | €22,538 | €6,538 | -€15,999 | -71.0% |
| Leasing and similar rights | 25 | €80,614 | €58,437 | -€22,177 | -27.5% |
| Current assets | 29/58 | €98,617 | €124,947 | +€26,330 | +26.7% |
| Amounts receivable within one year | 40/41 | €88,193 | €81,003 | -€7,190 | -8.2% |
| Trade receivables | 40 | €87,014 | €81,003 | -€6,011 | -6.9% |
| Other amounts receivable | 41 | €1,179 | - | -€1,179 | |
| Cash at bank and in hand | 54/58 | €4,018 | €38,882 | +€34,864 | +867.8% |
| Deferred charges and accrued income | 490/1 | €6,406 | €5,062 | -€1,344 | -21.0% |
| Total equity and liabilities | 10/49 | €498,533 | €425,141 | -€73,392 | -14.7% |
| Equity | 10/15 | €287,484 | €278,502 | -€8,982 | -3.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €267,296 | €258,287 | -€9,010 | -3.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,437 | €6,528 | -€19,910 | -75.3% |
| Distributable reserves | 133 | €239,000 | €249,900 | +€10,900 | +4.6% |
| Profit (loss) carried forward | 14 | €1,596 | €1,623 | +€28 | +1.7% |
| Provisions and deferred taxes | 16 | €8,812 | €2,176 | -€6,637 | -75.3% |
| Deferred taxes | 168 | €8,812 | €2,176 | -€6,637 | -75.3% |
| Amounts payable | 17/49 | €202,237 | €144,463 | -€57,773 | -28.6% |
| Amounts payable after more than one year | 17 | €86,893 | €59,145 | -€27,748 | -31.9% |
| Financial debts | 170/4 | €86,893 | €59,145 | -€27,748 | -31.9% |
| Amounts payable within one year | 42/48 | €115,343 | €85,318 | -€30,025 | -26.0% |
| Current portion of amounts payable after more than one year | 42 | €26,711 | €27,313 | +€601 | +2.3% |
| Trade debts | 44 | €14,729 | €5,874 | -€8,855 | -60.1% |
| Suppliers | 440/4 | €14,729 | €5,874 | -€8,855 | -60.1% |
| Taxes, remuneration and social security | 45 | €67,441 | €36,150 | -€31,290 | -46.4% |
| Taxes | 450/3 | €63,513 | €34,408 | -€29,105 | -45.8% |
| Remuneration and social security | 454/9 | €3,927 | €1,742 | -€2,185 | -55.6% |
| Other amounts payable | 47/48 | €6,462 | €15,980 | +€9,519 | +147.3% |
| Remuneration, social security and pensions | 62 | €40,323 | €20,060 | -€20,262 | -50.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,081 | €130,824 | +€10,743 | +8.9% |
| Other operating charges | 640/8 | €2,113 | €2,201 | +€88 | +4.2% |
| Non-recurring operating charges | 66A | €111 | €192 | +€81 | +73.1% |
| Gross operating margin | 9900 | €213,674 | €144,329 | -€69,345 | -32.5% |
| Operating profit (loss) | 9901 | €51,046 | -€8,949 | -€59,995 | |
| Financial income | 75/76B | €126 | €1,060 | +€934 | +739.1% |
| Recurring financial income | 75 | €126 | €1,060 | +€934 | +739.1% |
| Financial charges | 65/66B | €3,743 | €3,236 | -€508 | -13.6% |
| Recurring financial charges | 65 | €3,743 | €3,236 | -€508 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €47,429 | -€11,125 | -€58,553 | |
| Transfer from deferred taxes | 780 | €6,803 | €6,637 | -€167 | -2.4% |
| Income taxes | 67/77 | €22,973 | €4,494 | -€18,479 | -80.4% |
| Profit (loss) for the period | 9904 | €31,259 | -€8,982 | -€40,241 | |
| Transfer from tax-exempt reserves | 789 | €20,410 | €19,910 | -€500 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €51,668 | €10,928 | -€40,741 | -78.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.