R&R immo: 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.
What changed
R&R immo
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€44,237
2024 · €179,207-€134,970
Equity
€603,319
2024 · €625,082-€21,763
Cash
€37,484
2024 · €147,931-€110,447
Balance sheet total
€1.8m
2024 · €2.1m-€256,479
Largest movements
Assets
- Cash -€110,447
down €110,447 (-74.7%), from €147,931 to €37,484
mainly Other debts (-€165,472) and Debts after one year (-€71,827)
- Receivables within one year -€100,000
down €100,000 (-27.9%), from €358,799 to €258,799
- Tangible fixed assets -€46,158
down €46,158 (-3.0%), from €1.5m to €1.5m
of which Land and buildings: -€50,562
Equity and liabilities
- Other debts -€165,472
down €165,472 (-68.9%), from €240,189 to €74,717
- Debts after one year -€71,827
down €71,827 (-7.8%), from €915,827 to €844,000
Income statement
- Gross operating margin -€215,394
down €215,394 (-58.6%), from €367,821 to €152,427
- Financial charges -€38,115
down €38,115 (-52.6%), from €72,526 to €34,410
- Financial income -€4,675
down €4,675 (-99.9%), from €4,681 to €6
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.
Result 2024
€179,207
Gross operating margin
-€215,394
Depreciation
-€383
Other operating charges
+€276
Financial income
-€4,675
Financial charges
+€38,115
Taxes
-€471
Deferred taxes and other
+€47,560
Result 2025
€44,237
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€31,585
Investment
-€6,756
Financing
-€135,275
Cash 2024
€147,931
From operations (derived)
+€31,585
Net result for the year
+€44,237
Depreciation
+€52,915
Receivables within one year
+€100,000
Deferred charges and accrued income
-€126
Provisions
-€4,782
Trade debts
+€995
Tax, wage and social debts
+€4,528
Other debts
-€165,472
Accrued charges and deferred income
-€710
Investment (derived)
-€6,756
Investment in fixed assets (net)
-€6,756
Financing
-€135,275
Debts after one year
-€71,827
Current portion of long-term debt
+€2,552
Contributions, distributions and other
-€66,000
Cash 2025
€37,484
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,052,603 | €1,796,124 | -€256,479 | -12.5% |
| Fixed assets | 21/28 | €1,542,541 | €1,496,383 | -€46,158 | -3.0% |
| Tangible fixed assets | 22/27 | €1,542,202 | €1,496,044 | -€46,158 | -3.0% |
| Land and buildings | 22 | €1,533,123 | €1,482,560 | -€50,562 | -3.3% |
| Plant, machinery and equipment | 23 | €9,079 | €13,483 | +€4,404 | +48.5% |
| Financial fixed assets | 28 | €339 | €339 | = | 0.0% |
| Current assets | 29/58 | €510,062 | €299,741 | -€210,321 | -41.2% |
| Amounts receivable within one year | 40/41 | €358,799 | €258,799 | -€100,000 | -27.9% |
| Other amounts receivable | 41 | €358,799 | €258,799 | -€100,000 | -27.9% |
| Cash at bank and in hand | 54/58 | €147,931 | €37,484 | -€110,447 | -74.7% |
| Deferred charges and accrued income | 490/1 | €3,333 | €3,459 | +€126 | +3.8% |
| Total equity and liabilities | 10/49 | €2,052,603 | €1,796,124 | -€256,479 | -12.5% |
| Equity | 10/15 | €625,082 | €603,319 | -€21,763 | -3.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €553,729 | €539,384 | -€14,346 | -2.6% |
| Non-distributable reserves | 130/1 | €7,998 | €7,998 | = | 0.0% |
| Legal reserve | 130 | €7,998 | €7,998 | = | 0.0% |
| Tax-exempt reserves | 132 | €545,731 | €531,386 | -€14,346 | -2.6% |
| Profit (loss) carried forward | 14 | €9,353 | €1,935 | -€7,418 | -79.3% |
| Provisions and deferred taxes | 16 | €181,910 | €177,129 | -€4,782 | -2.6% |
| Deferred taxes | 168 | €181,910 | €177,129 | -€4,782 | -2.6% |
| Amounts payable | 17/49 | €1,245,611 | €1,015,677 | -€229,934 | -18.5% |
| Amounts payable after more than one year | 17 | €915,827 | €844,000 | -€71,827 | -7.8% |
| Financial debts | 170/4 | €915,827 | €844,000 | -€71,827 | -7.8% |
| Amounts payable within one year | 42/48 | €328,574 | €171,176 | -€157,397 | -47.9% |
| Current portion of amounts payable after more than one year | 42 | €69,275 | €71,827 | +€2,552 | +3.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €53 | €1,048 | +€995 | +1,895% |
| Suppliers | 440/4 | €53 | €1,048 | +€995 | +1,895% |
| Taxes, remuneration and social security | 45 | €19,057 | €23,585 | +€4,528 | +23.8% |
| Taxes | 450/3 | €19,057 | €23,585 | +€4,528 | +23.8% |
| Other amounts payable | 47/48 | €240,189 | €74,717 | -€165,472 | -68.9% |
| Accrued charges and deferred income | 492/3 | €1,210 | €500 | -€710 | -58.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,532 | €52,915 | +€383 | +0.7% |
| Other operating charges | 640/8 | €6,400 | €6,124 | -€276 | -4.3% |
| Gross operating margin | 9900 | €367,821 | €152,427 | -€215,394 | -58.6% |
| Operating profit (loss) | 9901 | €308,889 | €93,389 | -€215,500 | -69.8% |
| Financial income | 75/76B | €4,681 | €6 | -€4,675 | -99.9% |
| Recurring financial income | 75 | €4,681 | €6 | -€4,675 | -99.9% |
| Financial charges | 65/66B | €72,526 | €34,410 | -€38,115 | -52.6% |
| Recurring financial charges | 65 | €72,526 | €34,410 | -€38,115 | -52.6% |
| Profit (loss) for the period before taxes | 9903 | €241,044 | €58,985 | -€182,060 | -75.5% |
| Transfer from deferred taxes | 780 | €4,782 | €4,782 | -€0 | 0.0% |
| Transfer to deferred taxes | 680 | €47,560 | €0 | -€47,560 | -100% |
| Income taxes | 67/77 | €19,059 | €19,530 | +€471 | +2.5% |
| Profit (loss) for the period | 9904 | €179,207 | €44,237 | -€134,970 | -75.3% |
| Transfer from tax-exempt reserves | 789 | €14,346 | €14,346 | -€0 | 0.0% |
| Transfer to tax-exempt reserves | 689 | €142,681 | €0 | -€142,681 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €50,872 | €58,582 | +€7,710 | +15.2% |
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 19 October 2026 via checked.be.