R.N.T.: 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.T.
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+144,896%), from €835 to €1.2m
of which Land and buildings: +€1.2m
- Cash -€630,179
down €630,179 (-79.5%), from €793,176 to €162,997
mainly Investment in fixed assets (net) (-€1.2m) and Receivables within one year (-€331,031)
- Receivables within one year +€331,031
up €331,031 (+52.5%), from €630,773 to €961,804
of which Other amounts receivable: +€334,571
- Current portion of long-term debt +€458,333
new in 2025: €458,333
- Trade debts +€388,648
up €388,648 (+5,914%), from €6,571 to €395,219
- Debts after one year +€87,500
new in 2025: €87,500
- Gross operating margin -€564,185
down €564,185 (-98.9%), from €570,266 to €6,081
- Depreciation +€9,237
up €9,237 (+3,048%), from €303 to €9,540
- Financial income +€6,850
up €6,850 (+675%), from €1,015 to €7,865
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 | €1,426,494 | €2,338,339 | +€911,845 | +63.9% |
| Fixed assets | 21/28 | €835 | €1,210,660 | +€1.2m | +144,896% |
| Tangible fixed assets | 22/27 | €835 | €1,210,660 | +€1.2m | +144,896% |
| Land and buildings | 22 | €835 | €1,210,660 | +€1.2m | +144,896% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €1,425,659 | €1,127,679 | -€297,980 | -20.9% |
| Amounts receivable after more than one year | 29 | €955 | €955 | = | 0.0% |
| Other amounts receivable | 291 | €955 | €955 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €630,773 | €961,804 | +€331,031 | +52.5% |
| Trade receivables | 40 | €12,217 | €8,676 | -€3,540 | -29.0% |
| Other amounts receivable | 41 | €618,556 | €953,127 | +€334,571 | +54.1% |
| Cash at bank and in hand | 54/58 | €793,176 | €162,997 | -€630,179 | -79.5% |
| Deferred charges and accrued income | 490/1 | €755 | €1,923 | +€1,168 | +155% |
| Total equity and liabilities | 10/49 | €1,426,494 | €2,338,339 | +€911,845 | +63.9% |
| Equity | 10/15 | €1,084,659 | €1,060,298 | -€24,361 | -2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,083,159 | €1,076,958 | -€6,201 | -0.6% |
| Tax-exempt reserves | 132 | €1,005,263 | €999,062 | -€6,201 | -0.6% |
| Distributable reserves | 133 | €77,896 | €77,896 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,101 | -€35,260 | -€18,160 | -106% |
| Provisions and deferred taxes | 16 | €335,088 | €333,021 | -€2,067 | -0.6% |
| Deferred taxes | 168 | €335,088 | €333,021 | -€2,067 | -0.6% |
| Amounts payable | 17/49 | €6,748 | €945,020 | +€938,273 | +13,905% |
| Amounts payable after more than one year | 17 | - | €87,500 | +€87,500 | |
| Financial debts | 170/4 | - | €87,500 | +€87,500 | |
| Amounts payable within one year | 42/48 | €6,571 | €855,835 | +€849,264 | +12,924% |
| Current portion of amounts payable after more than one year | 42 | - | €458,333 | +€458,333 | |
| Trade debts | 44 | €6,571 | €395,219 | +€388,648 | +5,914% |
| Suppliers | 440/4 | €6,571 | €395,219 | +€388,648 | +5,914% |
| Other amounts payable | 47/48 | €0 | €2,283 | +€2,283 | |
| Accrued charges and deferred income | 492/3 | €176 | €1,685 | +€1,509 | +856% |
| Non-recurring operating income | 76A | €579,204 | €14,165 | -€565,039 | -97.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €303 | €9,540 | +€9,237 | +3,048% |
| Other operating charges | 640/8 | €5,534 | €7,196 | +€1,662 | +30.0% |
| Non-recurring operating charges | 66A | €76 | €19,800 | +€19,724 | +25,837% |
| Gross operating margin | 9900 | €570,266 | €6,081 | -€564,185 | -98.9% |
| Operating profit (loss) | 9901 | €564,353 | -€30,455 | -€594,808 | |
| Financial income | 75/76B | €1,015 | €7,865 | +€6,850 | +675% |
| Recurring financial income | 75 | €1,015 | €7,865 | +€6,850 | +675% |
| Financial charges | 65/66B | €79 | €3,838 | +€3,758 | +4,730% |
| Recurring financial charges | 65 | €79 | €3,838 | +€3,758 | +4,730% |
| Profit (loss) for the period before taxes | 9903 | €565,288 | -€26,428 | -€591,716 | |
| Transfer from deferred taxes | 780 | - | €2,067 | +€2,067 | |
| Transfer to deferred taxes | 680 | €131,604 | €0 | -€131,604 | -100% |
| Profit (loss) for the period | 9904 | €433,684 | -€24,361 | -€458,045 | |
| Transfer from tax-exempt reserves | 789 | - | €6,201 | +€6,201 | |
| Transfer to tax-exempt reserves | 689 | €394,811 | €0 | -€394,811 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €38,873 | -€18,160 | -€57,033 |
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.