R&L 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 PROJECTS
Largest movements
- Receivables within one year +€37,640
up €37,640 (+11.1%), from €337,849 to €375,489
of which Trade receivables: +€24,594
- Cash +€11,936
up €11,936 (+135%), from €8,818 to €20,755
mainly Net result for the year (+€27,450) and Trade debts (+€12,051)
- Profit (loss) carried forward +€27,450
up €27,450 (+20.4%), from €134,746 to €162,195
- Trade debts +€12,051
up €12,051 (+5.9%), from €204,904 to €216,955
of which Bills of exchange payable: +€20,615
- Tax, wage and social debts +€11,716
new in 2025: €11,716
of which Taxes: +€9,138
- Purchases and services -€101,486
down €101,486 (-25.9%), from €391,329 to €289,843
- Turnover -€60,853
down €60,853 (-14.3%), from €425,775 to €364,922
- Staff costs +€42,943
new in 2025: €42,943
- Gross operating margin +€40,632
up €40,632 (+118%), from €34,447 to €75,079
- Taxes -€10,550
down €10,550 (-53.1%), from €19,866 to €9,316
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 | €357,933 | €409,432 | +€51,499 | +14.4% |
| Fixed assets | 21/28 | €11,265 | €13,188 | +€1,923 | +17.1% |
| Tangible fixed assets | 22/27 | €10,885 | €13,188 | +€2,303 | +21.2% |
| Plant, machinery and equipment | 23 | €6,541 | €4,361 | -€2,180 | -33.3% |
| Furniture and vehicles | 24 | €4,344 | €8,828 | +€4,483 | +103% |
| Financial fixed assets | 28 | €380 | €0 | -€380 | -100% |
| Current assets | 29/58 | €346,667 | €396,243 | +€49,576 | +14.3% |
| Amounts receivable within one year | 40/41 | €337,849 | €375,489 | +€37,640 | +11.1% |
| Trade receivables | 40 | €291,567 | €316,161 | +€24,594 | +8.4% |
| Other amounts receivable | 41 | €46,282 | €59,328 | +€13,046 | +28.2% |
| Cash at bank and in hand | 54/58 | €8,818 | €20,755 | +€11,936 | +135% |
| Total equity and liabilities | 10/49 | €357,933 | €409,432 | +€51,499 | +14.4% |
| Equity | 10/15 | €142,806 | €170,255 | +€27,450 | +19.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €134,746 | €162,195 | +€27,450 | +20.4% |
| Amounts payable | 17/49 | €215,127 | €239,176 | +€24,049 | +11.2% |
| Amounts payable within one year | 42/48 | €215,127 | €239,176 | +€24,049 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €10,223 | €10,505 | +€282 | +2.8% |
| Trade debts | 44 | €204,904 | €216,955 | +€12,051 | +5.9% |
| Suppliers | 440/4 | €46,634 | €38,070 | -€8,564 | -18.4% |
| Bills of exchange payable | 441 | €158,270 | €178,885 | +€20,615 | +13.0% |
| Taxes, remuneration and social security | 45 | - | €11,716 | +€11,716 | |
| Taxes | 450/3 | - | €9,138 | +€9,138 | |
| Remuneration and social security | 454/9 | - | €2,578 | +€2,578 | |
| Turnover | 70 | €425,775 | €364,922 | -€60,853 | -14.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €391,329 | €289,843 | -€101,486 | -25.9% |
| Remuneration, social security and pensions | 62 | - | €42,943 | +€42,943 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,353 | €7,680 | +€3,328 | +76.5% |
| Other operating charges | 640/8 | €968 | €682 | -€286 | -29.5% |
| Gross operating margin | 9900 | €34,447 | €75,079 | +€40,632 | +118% |
| Operating profit (loss) | 9901 | €29,126 | €23,774 | -€5,352 | -18.4% |
| Financial income | 75/76B | €3,460 | €0 | -€3,460 | -100.0% |
| Recurring financial income | 75 | €3,460 | €0 | -€3,460 | -100.0% |
| Financial charges | 65/66B | €1,163 | €2,010 | +€847 | +72.8% |
| Recurring financial charges | 65 | €1,163 | €1,630 | +€467 | +40.1% |
| Non-recurring financial charges | 66B | - | €380 | +€380 | |
| Profit (loss) for the period before taxes | 9903 | €31,423 | €21,765 | -€9,659 | -30.7% |
| Transfer from deferred taxes | 780 | - | €15,001 | +€15,001 | |
| Income taxes | 67/77 | €19,866 | €9,316 | -€10,550 | -53.1% |
| Profit (loss) for the period | 9904 | €11,558 | €27,450 | +€15,892 | +137% |
| Profit (loss) for the period to be appropriated | 9905 | €11,558 | €27,450 | +€15,892 | +137% |
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 14 October 2026 via checked.be.