R.N. I.: 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. I.
Largest movements
- Tangible fixed assets -€49,148
down €49,148 (-4.2%), from €1.2m to €1.1m
- Receivables within one year -€48,481
down €48,481 (-2.4%), from €2.0m to €2.0m
of which Trade receivables: -€104,909
- Trade debts -€48,859
down €48,859 (-76.0%), from €64,274 to €15,415
- Profit (loss) carried forward +€46,891
up €46,891 (+17.5%), from €268,559 to €315,450
- Debts after one year -€45,848
down €45,848 (-6.1%), from €753,383 to €707,535
- Provisions -€43,749
down €43,749 (-20.7%), from €211,095 to €167,346
- Write-downs +€61,146
new in 2025: €61,146
- Taxes -€4,913
down €4,913 (-100%), from €4,913 to €0
- Gross operating margin -€2,461
down €2,461 (-2.3%), from €108,242 to €105,781
- Financial charges -€1,680
down €1,680 (-4.9%), from €34,065 to €32,384
- Financial income +€1,644
up €1,644 (+3.0%), from €54,785 to €56,428
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 | €3,222,748 | €3,143,949 | -€78,799 | -2.4% |
| Fixed assets | 21/28 | €1,175,034 | €1,125,886 | -€49,148 | -4.2% |
| Tangible fixed assets | 22/27 | €1,175,034 | €1,125,886 | -€49,148 | -4.2% |
| Land and buildings | 22 | €1,175,034 | €1,125,886 | -€49,148 | -4.2% |
| Current assets | 29/58 | €2,047,714 | €2,018,064 | -€29,651 | -1.4% |
| Amounts receivable within one year | 40/41 | €2,037,735 | €1,989,253 | -€48,481 | -2.4% |
| Trade receivables | 40 | €156,799 | €51,889 | -€104,909 | -66.9% |
| Other amounts receivable | 41 | €1,880,936 | €1,937,364 | +€56,428 | +3.0% |
| Cash at bank and in hand | 54/58 | €7,913 | €26,846 | +€18,932 | +239% |
| Deferred charges and accrued income | 490/1 | €2,066 | €1,965 | -€101 | -4.9% |
| Total equity and liabilities | 10/49 | €3,222,748 | €3,143,949 | -€78,799 | -2.4% |
| Equity | 10/15 | €2,029,128 | €2,082,186 | +€53,059 | +2.6% |
| Contributions | 10/11 | €371,840 | €371,840 | = | 0.0% |
| Capital | 10 | €371,840 | €371,840 | = | 0.0% |
| Issued capital | 100 | €371,840 | €371,840 | = | 0.0% |
| Reserves | 13 | €1,388,729 | €1,394,896 | +€6,167 | +0.4% |
| Non-distributable reserves | 130/1 | €37,184 | €37,184 | = | 0.0% |
| Legal reserve | 130 | €37,184 | €37,184 | = | 0.0% |
| Tax-exempt reserves | 132 | €502,545 | €508,712 | +€6,167 | +1.2% |
| Distributable reserves | 133 | €849,000 | €849,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €268,559 | €315,450 | +€46,891 | +17.5% |
| Provisions and deferred taxes | 16 | €211,095 | €167,346 | -€43,749 | -20.7% |
| Deferred taxes | 168 | €211,095 | €167,346 | -€43,749 | -20.7% |
| Amounts payable | 17/49 | €982,526 | €894,417 | -€88,108 | -9.0% |
| Amounts payable after more than one year | 17 | €753,383 | €707,535 | -€45,848 | -6.1% |
| Financial debts | 170/4 | €753,383 | €707,535 | -€45,848 | -6.1% |
| Amounts payable within one year | 42/48 | €219,286 | €176,741 | -€42,546 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €44,163 | €45,848 | +€1,685 | +3.8% |
| Trade debts | 44 | €64,274 | €15,415 | -€48,859 | -76.0% |
| Suppliers | 440/4 | €64,274 | €15,415 | -€48,859 | -76.0% |
| Taxes, remuneration and social security | 45 | €5,471 | €7,005 | +€1,533 | +28.0% |
| Taxes | 450/3 | €5,471 | €7,005 | +€1,533 | +28.0% |
| Other amounts payable | 47/48 | €105,379 | €108,473 | +€3,094 | +2.9% |
| Accrued charges and deferred income | 492/3 | €9,856 | €10,141 | +€285 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,980 | €49,148 | -€832 | -1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €61,146 | +€61,146 | |
| Other operating charges | 640/8 | €9,910 | €10,221 | +€311 | +3.1% |
| Gross operating margin | 9900 | €108,242 | €105,781 | -€2,461 | -2.3% |
| Operating profit (loss) | 9901 | €48,352 | -€14,734 | -€63,086 | |
| Financial income | 75/76B | €54,785 | €56,428 | +€1,644 | +3.0% |
| Recurring financial income | 75 | €54,785 | €56,428 | +€1,644 | +3.0% |
| Financial charges | 65/66B | €34,065 | €32,384 | -€1,680 | -4.9% |
| Recurring financial charges | 65 | €34,065 | €32,384 | -€1,680 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €69,072 | €9,310 | -€59,762 | -86.5% |
| Transfer from deferred taxes | 780 | €11,117 | €11,117 | = | 0.0% |
| Income taxes | 67/77 | €4,913 | €0 | -€4,913 | -100% |
| Profit (loss) for the period | 9904 | €75,275 | €20,426 | -€54,849 | -72.9% |
| Transfer from tax-exempt reserves | 789 | €26,465 | €26,465 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €101,740 | €46,891 | -€54,849 | -53.9% |
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 30 October 2026 via checked.be.