R & N GENERALE: what changed
R & N GENERALE
Largest movements
- Receivables within one year -€33,420
down €33,420 (-31.4%), from €106,547 to €73,127
of which Other amounts receivable: -€31,684
- Cash +€22,848
up €22,848 (+74.4%), from €30,705 to €53,553
mainly Receivables within one year (+€33,420) and Stocks and contracts (+€12,856)
- Stocks and contracts -€12,856
down €12,856 (-40.4%), from €31,836 to €18,979
- Tangible fixed assets -€5,431
down €5,431 (-17.9%), from €30,424 to €24,993
of which Leasing and similar rights: -€12,419
- Deferred charges and accrued income -€3,961
down €3,961 (-82.5%), from €4,802 to €841
- Debts after one year -€13,499
down €13,499 (-48.7%), from €27,694 to €14,195
- Tax, wage and social debts -€12,319
down €12,319 (-68.3%), from €18,042 to €5,723
of which Remuneration and social security: -€13,499
- Trade debts -€10,472
down €10,472 (-96.4%), from €10,863 to €391
- Profit (loss) carried forward +€5,516
up €5,516 (+5.0%), from €110,282 to €115,798
- Staff costs -€9,487
down €9,487 (-18.4%), from €51,599 to €42,112
- Gross operating margin -€8,344
down €8,344 (-9.8%), from €84,719 to €76,375
- Depreciation -€3,154
down €3,154 (-22.7%), from €13,898 to €10,744
- Financial charges -€1,564
down €1,564 (-31.9%), from €4,905 to €3,341
- Taxes +€1,409
up €1,409 (+137%), from €1,028 to €2,437
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €205,311 | €172,491 | -€32,821 | -16.0% |
| Fixed assets | 21/28 | €31,422 | €25,990 | -€5,431 | -17.3% |
| Tangible fixed assets | 22/27 | €30,424 | €24,993 | -€5,431 | -17.9% |
| Plant, machinery and equipment | 23 | €1,711 | €2,514 | +€803 | +47.0% |
| Furniture and vehicles | 24 | €889 | €7,073 | +€6,184 | +696% |
| Leasing and similar rights | 25 | €27,825 | €15,406 | -€12,419 | -44.6% |
| Financial fixed assets | 28 | €997 | €997 | = | 0.0% |
| Current assets | 29/58 | €173,890 | €146,500 | -€27,389 | -15.8% |
| Stocks and contracts in progress | 3 | €31,836 | €18,979 | -€12,856 | -40.4% |
| Stocks | 30/36 | €31,836 | €18,979 | -€12,856 | -40.4% |
| Amounts receivable within one year | 40/41 | €106,547 | €73,127 | -€33,420 | -31.4% |
| Trade receivables | 40 | €58,539 | €56,803 | -€1,736 | -3.0% |
| Other amounts receivable | 41 | €48,008 | €16,324 | -€31,684 | -66.0% |
| Cash at bank and in hand | 54/58 | €30,705 | €53,553 | +€22,848 | +74.4% |
| Deferred charges and accrued income | 490/1 | €4,802 | €841 | -€3,961 | -82.5% |
| Total equity and liabilities | 10/49 | €205,311 | €172,491 | -€32,821 | -16.0% |
| Equity | 10/15 | €130,742 | €136,258 | +€5,516 | +4.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €110,282 | €115,798 | +€5,516 | +5.0% |
| Amounts payable | 17/49 | €74,570 | €36,233 | -€38,337 | -51.4% |
| Amounts payable after more than one year | 17 | €27,694 | €14,195 | -€13,499 | -48.7% |
| Financial debts | 170/4 | €27,694 | €14,195 | -€13,499 | -48.7% |
| Amounts payable within one year | 42/48 | €46,876 | €22,038 | -€24,838 | -53.0% |
| Current portion of amounts payable after more than one year | 42 | €16,155 | €15,882 | -€273 | -1.7% |
| Financial debts | 43 | €1,815 | €42 | -€1,774 | -97.7% |
| Credit institutions | 430/8 | €1,815 | €42 | -€1,774 | -97.7% |
| Trade debts | 44 | €10,863 | €391 | -€10,472 | -96.4% |
| Suppliers | 440/4 | €10,863 | €391 | -€10,472 | -96.4% |
| Taxes, remuneration and social security | 45 | €18,042 | €5,723 | -€12,319 | -68.3% |
| Taxes | 450/3 | €3,536 | €4,716 | +€1,180 | +33.4% |
| Remuneration and social security | 454/9 | €14,507 | €1,007 | -€13,499 | -93.1% |
| Remuneration, social security and pensions | 62 | €51,599 | €42,112 | -€9,487 | -18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,898 | €10,744 | -€3,154 | -22.7% |
| Other operating charges | 640/8 | €12,524 | €12,491 | -€33 | -0.3% |
| Gross operating margin | 9900 | €84,719 | €76,375 | -€8,344 | -9.8% |
| Operating profit (loss) | 9901 | €6,698 | €11,028 | +€4,329 | +64.6% |
| Financial income | 75/76B | €3 | €267 | +€264 | +8,760% |
| Recurring financial income | 75 | €3 | €267 | +€264 | +8,760% |
| Financial charges | 65/66B | €4,905 | €3,341 | -€1,564 | -31.9% |
| Recurring financial charges | 65 | €4,905 | €3,341 | -€1,564 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | €1,797 | €7,954 | +€6,157 | +343% |
| Income taxes | 67/77 | €1,028 | €2,437 | +€1,409 | +137% |
| Profit (loss) for the period | 9904 | €768 | €5,516 | +€4,748 | +618% |
| Profit (loss) for the period to be appropriated | 9905 | €768 | €5,516 | +€4,748 | +618% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.