R.M.A.: 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.M.A.
Largest movements
- Receivables within one year +€153,480
up €153,480 (+9.5%), from €1.6m to €1.8m
of which Other amounts receivable: +€161,978
- Tangible fixed assets -€35,548
down €35,548 (-38.2%), from €93,117 to €57,569
of which Leasing and similar rights: -€36,639
- Cash +€26,596
up €26,596 (+203%), from €13,082 to €39,678
mainly Net result for the year (+€151,314) and Depreciation (+€37,219)
- Reserves +€443,209
up €443,209 (+34.8%), from €1.3m to €1.7m
of which Distributable reserves: +€443,209
- Profit (loss) carried forward -€291,895
down €291,895 (-100%), from €291,895 to €0
- Debts after one year -€24,025
down €24,025 (-100%), from €24,025 to €0
- Short-term financial debts +€19,857
up €19,857 (+39.6%), from €50,143 to €70,000
- Gross operating margin -€110,042
down €110,042 (-37.3%), from €295,108 to €185,066
- Financial income +€90,836
up €90,836 (+875,952%), from €10 to €90,847
- Depreciation +€18,762
up €18,762 (+102%), from €18,458 to €37,219
- Taxes -€5,590
down €5,590 (-6.7%), from €83,552 to €77,962
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 | €1,719,174 | €1,863,702 | +€144,528 | +8.4% |
| Fixed assets | 21/28 | €93,117 | €57,569 | -€35,548 | -38.2% |
| Tangible fixed assets | 22/27 | €93,117 | €57,569 | -€35,548 | -38.2% |
| Furniture and vehicles | 24 | €1,519 | €2,610 | +€1,091 | +71.8% |
| Leasing and similar rights | 25 | €91,598 | €54,959 | -€36,639 | -40.0% |
| Current assets | 29/58 | €1,626,057 | €1,806,133 | +€180,076 | +11.1% |
| Amounts receivable within one year | 40/41 | €1,612,975 | €1,766,455 | +€153,480 | +9.5% |
| Trade receivables | 40 | €24,219 | €15,721 | -€8,499 | -35.1% |
| Other amounts receivable | 41 | €1,588,756 | €1,750,734 | +€161,978 | +10.2% |
| Cash at bank and in hand | 54/58 | €13,082 | €39,678 | +€26,596 | +203% |
| Total equity and liabilities | 10/49 | €1,719,174 | €1,863,702 | +€144,528 | +8.4% |
| Equity | 10/15 | €1,571,831 | €1,723,145 | +€151,314 | +9.6% |
| Contributions | 10/11 | €6,208 | €6,208 | = | 0.0% |
| Reserves | 13 | €1,273,728 | €1,716,937 | +€443,209 | +34.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,271,868 | €1,715,077 | +€443,209 | +34.8% |
| Profit (loss) carried forward | 14 | €291,895 | €0 | -€291,895 | -100% |
| Amounts payable | 17/49 | €147,343 | €140,557 | -€6,786 | -4.6% |
| Amounts payable after more than one year | 17 | €24,025 | €0 | -€24,025 | -100% |
| Financial debts | 170/4 | €24,025 | €0 | -€24,025 | -100% |
| Amounts payable within one year | 42/48 | €123,317 | €140,557 | +€17,239 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €37,923 | €24,025 | -€13,897 | -36.6% |
| Financial debts | 43 | €50,143 | €70,000 | +€19,857 | +39.6% |
| Credit institutions | 430/8 | €50,143 | €70,000 | +€19,857 | +39.6% |
| Trade debts | 44 | €1,050 | €6,335 | +€5,285 | +503% |
| Suppliers | 440/4 | €1,050 | €6,335 | +€5,285 | +503% |
| Taxes, remuneration and social security | 45 | €34,201 | €40,196 | +€5,995 | +17.5% |
| Taxes | 450/3 | €34,201 | €40,196 | +€5,995 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,458 | €37,219 | +€18,762 | +102% |
| Other operating charges | 640/8 | €8,124 | €6,089 | -€2,036 | -25.1% |
| Non-recurring operating charges | 66A | €12,737 | €0 | -€12,737 | -100% |
| Gross operating margin | 9900 | €295,108 | €185,066 | -€110,042 | -37.3% |
| Operating profit (loss) | 9901 | €255,789 | €141,758 | -€114,031 | -44.6% |
| Financial income | 75/76B | €10 | €90,847 | +€90,836 | +875,952% |
| Recurring financial income | 75 | €10 | €90,847 | +€90,836 | +875,952% |
| Financial charges | 65/66B | €3,780 | €3,329 | -€452 | -11.9% |
| Recurring financial charges | 65 | €3,780 | €3,329 | -€452 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €252,019 | €229,276 | -€22,743 | -9.0% |
| Income taxes | 67/77 | €83,552 | €77,962 | -€5,590 | -6.7% |
| Profit (loss) for the period | 9904 | €168,467 | €151,314 | -€17,153 | -10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €168,467 | €151,314 | -€17,153 | -10.2% |
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 25 October 2026 via checked.be.