R.N.D.: 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.N.D.
Largest movements
- Receivables after one year +€50,000
up €50,000 (+41.7%), from €120,000 to €170,000
- Receivables within one year -€44,556
down €44,556 (-26.5%), from €168,056 to €123,500
of which Other amounts receivable: -€43,686
- Cash -€4,188
down €4,188 (-83.8%), from €4,999 to €811
mainly Short-term financial debts (-€200,449) and Receivables after one year (-€50,000)
- Short-term financial debts -€200,449
no longer reported in 2025 (was €200,449)
- Debts after one year +€200,000
up €200,000 (+100%), from €200,000 to €400,000
- Profit (loss) carried forward -€12,314
down €12,314 (-6.7%), from -€185,027 to -€197,341
- Other debts +€9,099
up €9,099 (+24.2%), from €37,526 to €46,626
- Trade debts +€3,025
up €3,025 (+91.4%), from €3,310 to €6,334
- Gross operating margin +€29,991
up €29,991, from -€7,553 to €22,438
- Write-downs +€27,783
new in 2025: €27,783
- Depreciation -€24,252
down €24,252 (-99.5%), from €24,384 to €132
- Financial income +€1,169
up €1,169 (+50.4%), from €2,320 to €3,489
- Other operating charges +€605
up €605 (+605%), from €100 to €705
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 | €294,069 | €295,193 | +€1,125 | +0.4% |
| Fixed assets | 21/28 | €1,014 | €882 | -€132 | -13.0% |
| Tangible fixed assets | 22/27 | €264 | €132 | -€132 | -50.0% |
| Furniture and vehicles | 24 | €264 | €132 | -€132 | -50.0% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €293,055 | €294,311 | +€1,257 | +0.4% |
| Amounts receivable after more than one year | 29 | €120,000 | €170,000 | +€50,000 | +41.7% |
| Other amounts receivable | 291 | €120,000 | €170,000 | +€50,000 | +41.7% |
| Amounts receivable within one year | 40/41 | €168,056 | €123,500 | -€44,556 | -26.5% |
| Trade receivables | 40 | €15,031 | €14,161 | -€870 | -5.8% |
| Other amounts receivable | 41 | €153,025 | €109,339 | -€43,686 | -28.5% |
| Cash at bank and in hand | 54/58 | €4,999 | €811 | -€4,188 | -83.8% |
| Total equity and liabilities | 10/49 | €294,069 | €295,193 | +€1,125 | +0.4% |
| Equity | 10/15 | -€147,859 | -€160,173 | -€12,314 | -8.3% |
| Contributions | 10/11 | €37,168 | €37,168 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€185,027 | -€197,341 | -€12,314 | -6.7% |
| Amounts payable | 17/49 | €441,927 | €455,366 | +€13,439 | +3.0% |
| Amounts payable after more than one year | 17 | €200,000 | €400,000 | +€200,000 | +100% |
| Financial debts | 170/4 | €200,000 | €400,000 | +€200,000 | +100% |
| Amounts payable within one year | 42/48 | €241,927 | €54,966 | -€186,961 | -77.3% |
| Financial debts | 43 | €200,449 | - | -€200,449 | |
| Credit institutions | 430/8 | €200,449 | - | -€200,449 | |
| Trade debts | 44 | €3,310 | €6,334 | +€3,025 | +91.4% |
| Suppliers | 440/4 | €3,310 | €6,334 | +€3,025 | +91.4% |
| Taxes, remuneration and social security | 45 | €642 | €2,006 | +€1,364 | +212% |
| Taxes | 450/3 | €642 | €2,006 | +€1,364 | +212% |
| Other amounts payable | 47/48 | €37,526 | €46,626 | +€9,099 | +24.2% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,384 | €132 | -€24,252 | -99.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €27,783 | +€27,783 | |
| Other operating charges | 640/8 | €100 | €705 | +€605 | +605% |
| Gross operating margin | 9900 | -€7,553 | €22,438 | +€29,991 | |
| Operating profit (loss) | 9901 | -€32,037 | -€6,183 | +€25,854 | +80.7% |
| Financial income | 75/76B | €2,320 | €3,489 | +€1,169 | +50.4% |
| Recurring financial income | 75 | €2,320 | €3,489 | +€1,169 | +50.4% |
| Financial charges | 65/66B | €10,124 | €9,620 | -€504 | -5.0% |
| Recurring financial charges | 65 | €10,124 | €9,620 | -€504 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | -€39,842 | -€12,314 | +€27,528 | +69.1% |
| Profit (loss) for the period | 9904 | -€39,842 | -€12,314 | +€27,528 | +69.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,842 | -€12,314 | +€27,528 | +69.1% |
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 20 October 2026 via checked.be.