R.L. - GROUND PROJECTS: 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.L. - GROUND PROJECTS
Largest movements
- Stocks and contracts -€514,844
down €514,844 (-31.6%), from €1.6m to €1.1m
- Receivables within one year +€196,361
new in 2025: €196,361
- Cash +€81,783
up €81,783 (+6,665%), from €1,227 to €83,010
mainly Stocks and contracts (+€514,844) and Other debts (+€42,621)
- Debts after one year -€265,270
down €265,270 (-37.0%), from €717,750 to €452,480
- Other debts +€42,621
up €42,621 (+20.0%), from €212,779 to €255,400
- Gross operating margin +€9,212
up €9,212 (+53.0%), from €17,393 to €26,604
- Financial charges +€9,202
up €9,202 (+47.3%), from €19,448 to €28,650
- Other operating charges -€704
down €704 (-84.8%), from €830 to €126
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 | €1,631,227 | €1,394,527 | -€236,700 | -14.5% |
| Current assets | 29/58 | €1,631,227 | €1,394,527 | -€236,700 | -14.5% |
| Stocks and contracts in progress | 3 | €1,630,000 | €1,115,156 | -€514,844 | -31.6% |
| Stocks | 30/36 | €1,630,000 | €1,115,156 | -€514,844 | -31.6% |
| Amounts receivable within one year | 40/41 | - | €196,361 | +€196,361 | |
| Other amounts receivable | 41 | - | €196,361 | +€196,361 | |
| Cash at bank and in hand | 54/58 | €1,227 | €83,010 | +€81,783 | +6,665% |
| Total equity and liabilities | 10/49 | €1,631,227 | €1,394,527 | -€236,700 | -14.5% |
| Equity | 10/15 | €684,036 | €681,865 | -€2,171 | -0.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €584,390 | €584,390 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €192,555 | €192,555 | = | 0.0% |
| Distributable reserves | 133 | €386,834 | €386,834 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,647 | €47,475 | -€2,171 | -4.4% |
| Amounts payable | 17/49 | €947,191 | €712,662 | -€234,529 | -24.8% |
| Amounts payable after more than one year | 17 | €717,750 | €452,480 | -€265,270 | -37.0% |
| Financial debts | 170/4 | €717,750 | €452,480 | -€265,270 | -37.0% |
| Amounts payable within one year | 42/48 | €229,441 | €260,182 | +€30,741 | +13.4% |
| Trade debts | 44 | - | €2,856 | +€2,856 | |
| Suppliers | 440/4 | - | €2,856 | +€2,856 | |
| Taxes, remuneration and social security | 45 | €16,662 | €1,927 | -€14,735 | -88.4% |
| Taxes | 450/3 | €16,662 | €1,927 | -€14,735 | -88.4% |
| Other amounts payable | 47/48 | €212,779 | €255,400 | +€42,621 | +20.0% |
| Other operating charges | 640/8 | €830 | €126 | -€704 | -84.8% |
| Gross operating margin | 9900 | €17,393 | €26,604 | +€9,212 | +53.0% |
| Operating profit (loss) | 9901 | €16,562 | €26,478 | +€9,916 | +59.9% |
| Financial charges | 65/66B | €19,448 | €28,650 | +€9,202 | +47.3% |
| Recurring financial charges | 65 | €19,448 | €28,650 | +€9,202 | +47.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,886 | -€2,171 | +€715 | +24.8% |
| Profit (loss) for the period | 9904 | -€2,886 | -€2,171 | +€715 | +24.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,886 | -€2,171 | +€715 | +24.8% |
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 23 October 2026 via checked.be.