R-MODELS PASSION: 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-MODELS PASSION
Largest movements
- Cash -€12,912
down €12,912 (-18.8%), from €68,742 to €55,830
mainly Other debts (-€18,053) and Trade debts (-€4,065)
- Tangible fixed assets -€10,012
down €10,012 (-22.1%), from €45,296 to €35,284
of which Plant, machinery and equipment: -€7,773
- Deferred charges and accrued income +€3,743
up €3,743 (+146%), from €2,566 to €6,309
- Other debts -€18,053
down €18,053 (-12.8%), from €141,287 to €123,234
- Trade debts -€4,065
down €4,065 (-43.2%), from €9,407 to €5,342
- Gross operating margin +€9,179
up €9,179 (+80.1%), from €11,461 to €20,640
- Other operating charges +€6,506
up €6,506 (+1,264%), from €515 to €7,020
- Financial charges +€4,681
up €4,681 (+311%), from €1,503 to €6,183
- Depreciation -€806
down €806 (-7.0%), from €11,467 to €10,661
- Taxes +€783
up €783 (+97.7%), from €802 to €1,584
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 | €271,797 | €249,263 | -€22,534 | -8.3% |
| Fixed assets | 21/28 | €54,125 | €41,786 | -€12,339 | -22.8% |
| Intangible fixed assets | 21 | €3,855 | €1,527 | -€2,328 | -60.4% |
| Tangible fixed assets | 22/27 | €45,296 | €35,284 | -€10,012 | -22.1% |
| Land and buildings | 22 | €25,945 | €24,308 | -€1,636 | -6.3% |
| Plant, machinery and equipment | 23 | €17,759 | €9,986 | -€7,773 | -43.8% |
| Furniture and vehicles | 24 | €1,592 | €990 | -€603 | -37.9% |
| Financial fixed assets | 28 | €4,975 | €4,975 | = | 0.0% |
| Current assets | 29/58 | €217,672 | €207,477 | -€10,195 | -4.7% |
| Stocks and contracts in progress | 3 | €146,246 | €145,256 | -€990 | -0.7% |
| Stocks | 30/36 | €146,246 | €145,256 | -€990 | -0.7% |
| Amounts receivable within one year | 40/41 | €118 | €82 | -€36 | -30.9% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €118 | €82 | -€36 | -30.9% |
| Cash at bank and in hand | 54/58 | €68,742 | €55,830 | -€12,912 | -18.8% |
| Deferred charges and accrued income | 490/1 | €2,566 | €6,309 | +€3,743 | +146% |
| Total equity and liabilities | 10/49 | €271,797 | €249,263 | -€22,534 | -8.3% |
| Equity | 10/15 | €98,687 | €96,348 | -€2,339 | -2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €80,087 | €77,748 | -€2,339 | -2.9% |
| 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 | €78,227 | €75,888 | -€2,339 | -3.0% |
| Amounts payable | 17/49 | €173,110 | €152,915 | -€20,195 | -11.7% |
| Amounts payable within one year | 42/48 | €173,110 | €152,915 | -€20,195 | -11.7% |
| Trade debts | 44 | €9,407 | €5,342 | -€4,065 | -43.2% |
| Suppliers | 440/4 | €9,407 | €5,342 | -€4,065 | -43.2% |
| Taxes, remuneration and social security | 45 | €22,416 | €24,340 | +€1,924 | +8.6% |
| Taxes | 450/3 | €22,416 | €24,340 | +€1,924 | +8.6% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €141,287 | €123,234 | -€18,053 | -12.8% |
| Remuneration, social security and pensions | 62 | -€7 | €0 | +€7 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,467 | €10,661 | -€806 | -7.0% |
| Other operating charges | 640/8 | €515 | €7,020 | +€6,506 | +1,264% |
| Gross operating margin | 9900 | €11,461 | €20,640 | +€9,179 | +80.1% |
| Operating profit (loss) | 9901 | -€514 | €2,959 | +€3,473 | |
| Financial income | 75/76B | €2,564 | €2,470 | -€94 | -3.7% |
| Recurring financial income | 75 | €2,564 | €2,470 | -€94 | -3.7% |
| Financial charges | 65/66B | €1,503 | €6,183 | +€4,681 | +311% |
| Recurring financial charges | 65 | €1,503 | €6,183 | +€4,681 | +311% |
| Profit (loss) for the period before taxes | 9903 | €547 | -€755 | -€1,302 | |
| Income taxes | 67/77 | €802 | €1,584 | +€783 | +97.7% |
| Profit (loss) for the period | 9904 | -€255 | -€2,339 | -€2,084 | -818% |
| Profit (loss) for the period to be appropriated | 9905 | -€255 | -€2,339 | -€2,084 | -818% |
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 17 October 2026 via checked.be.