R.M.G.: 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.G.
Largest movements
- Tangible fixed assets -€15,802
down €15,802 (-2.2%), from €729,643 to €713,841
of which Land and buildings: -€16,575
- Receivables within one year +€12,261
up €12,261 (+53.4%), from €22,981 to €35,242
- Cash +€11,988
up €11,988 (+7.3%), from €164,388 to €176,376
mainly Net result for the year (+€109,399) and Other debts (+€66,647)
- Other debts +€66,647
up €66,647 (+40.3%), from €165,504 to €232,152
- Debts after one year -€36,605
down €36,605 (-16.4%), from €222,772 to €186,167
- Tax, wage and social debts -€15,072
down €15,072 (-69.6%), from €21,661 to €6,589
- Current portion of long-term debt -€13,640
down €13,640 (-21.3%), from €64,131 to €50,492
- Gross operating margin -€42,757
down €42,757 (-15.8%), from €269,861 to €227,104
- Provisions +€34,585
no longer reported in 2025 (was -€34,585)
- Financial charges -€33,347
down €33,347 (-86.1%), from €38,730 to €5,383
- Taxes -€13,776
down €13,776 (-22.3%), from €61,733 to €47,957
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 | €1,040,629 | €1,042,325 | +€1,696 | +0.2% |
| Fixed assets | 21/28 | €729,643 | €713,841 | -€15,802 | -2.2% |
| Tangible fixed assets | 22/27 | €729,643 | €713,841 | -€15,802 | -2.2% |
| Land and buildings | 22 | €517,400 | €500,825 | -€16,575 | -3.2% |
| Plant, machinery and equipment | 23 | €202,498 | €204,254 | +€1,755 | +0.9% |
| Furniture and vehicles | 24 | €9,744 | €8,763 | -€982 | -10.1% |
| Current assets | 29/58 | €310,986 | €328,484 | +€17,497 | +5.6% |
| Amounts receivable within one year | 40/41 | €22,981 | €35,242 | +€12,261 | +53.4% |
| Other amounts receivable | 41 | €22,981 | €35,242 | +€12,261 | +53.4% |
| Cash at bank and in hand | 54/58 | €164,388 | €176,376 | +€11,988 | +7.3% |
| Deferred charges and accrued income | 490/1 | €123,618 | €116,866 | -€6,752 | -5.5% |
| Total equity and liabilities | 10/49 | €1,040,629 | €1,042,325 | +€1,696 | +0.2% |
| Equity | 10/15 | €562,684 | €566,240 | +€3,556 | +0.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €312,903 | €316,450 | +€3,547 | +1.1% |
| 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 | €311,043 | €314,590 | +€3,547 | +1.1% |
| Profit (loss) carried forward | 14 | €237,381 | €237,390 | +€9 | 0.0% |
| Amounts payable | 17/49 | €477,945 | €476,084 | -€1,861 | -0.4% |
| Amounts payable after more than one year | 17 | €222,772 | €186,167 | -€36,605 | -16.4% |
| Financial debts | 170/4 | €222,772 | €186,167 | -€36,605 | -16.4% |
| Amounts payable within one year | 42/48 | €255,173 | €289,917 | +€34,745 | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €64,131 | €50,492 | -€13,640 | -21.3% |
| Trade debts | 44 | €3,876 | €685 | -€3,191 | -82.3% |
| Suppliers | 440/4 | €3,876 | €685 | -€3,191 | -82.3% |
| Taxes, remuneration and social security | 45 | €21,661 | €6,589 | -€15,072 | -69.6% |
| Taxes | 450/3 | €21,661 | €6,589 | -€15,072 | -69.6% |
| Other amounts payable | 47/48 | €165,504 | €232,152 | +€66,647 | +40.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,507 | €58,500 | -€7 | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€34,585 | - | +€34,585 | |
| Other operating charges | 640/8 | €6,405 | €6,561 | +€155 | +2.4% |
| Gross operating margin | 9900 | €269,861 | €227,104 | -€42,757 | -15.8% |
| Operating profit (loss) | 9901 | €239,532 | €162,043 | -€77,490 | -32.4% |
| Financial income | 75/76B | €564 | €697 | +€133 | +23.5% |
| Recurring financial income | 75 | €564 | €697 | +€133 | +23.5% |
| Financial charges | 65/66B | €38,730 | €5,383 | -€33,347 | -86.1% |
| Recurring financial charges | 65 | €38,730 | €5,383 | -€33,347 | -86.1% |
| Profit (loss) for the period before taxes | 9903 | €201,367 | €157,356 | -€44,010 | -21.9% |
| Income taxes | 67/77 | €61,733 | €47,957 | -€13,776 | -22.3% |
| Profit (loss) for the period | 9904 | €139,633 | €109,399 | -€30,234 | -21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €139,633 | €109,399 | -€30,234 | -21.7% |
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 11 October 2026 via checked.be.