R & R RESEARCH: 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 & R RESEARCH
Largest movements
- Receivables within one year -€13,495
down €13,495 (-2.3%), from €574,946 to €561,451
- Profit (loss) carried forward -€16,598
down €16,598 (-445%), from -€3,729 to -€20,327
- Gross operating margin +€9,032
up €9,032 (+37.9%), from -€23,805 to -€14,773
- Purchases and services -€9,032
down €9,032 (-37.9%), from €23,805 to €14,773
- Other operating charges +€6,633
up €6,633 (+2,112%), from €314 to €6,947
- Depreciation -€2,390
down €2,390 (-60.4%), from €3,956 to €1,566
- Financial income -€1,606
down €1,606 (-16.9%), from €9,482 to €7,876
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 | €913,585 | €898,525 | -€15,060 | -1.6% |
| Fixed assets | 21/28 | €315,194 | €313,629 | -€1,565 | -0.5% |
| Tangible fixed assets | 22/27 | €65,656 | €64,091 | -€1,565 | -2.4% |
| Land and buildings | 22 | €26,103 | €24,751 | -€1,352 | -5.2% |
| Plant, machinery and equipment | 23 | €296 | €296 | = | 0.0% |
| Furniture and vehicles | 24 | €39,257 | €39,044 | -€213 | -0.5% |
| Financial fixed assets | 28 | €249,538 | €249,538 | = | 0.0% |
| Current assets | 29/58 | €598,391 | €584,896 | -€13,495 | -2.3% |
| Amounts receivable within one year | 40/41 | €574,946 | €561,451 | -€13,495 | -2.3% |
| Other amounts receivable | 41 | €574,946 | €561,451 | -€13,495 | -2.3% |
| Cash at bank and in hand | 54/58 | €16,095 | €16,095 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €7,350 | €7,350 | = | 0.0% |
| Total equity and liabilities | 10/49 | €913,585 | €898,525 | -€15,060 | -1.6% |
| Equity | 10/15 | €812,872 | €796,274 | -€16,598 | -2.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €798,001 | €798,001 | = | 0.0% |
| Non-distributable reserves | 130/1 | €798,001 | €798,001 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €796,141 | €796,141 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,729 | -€20,327 | -€16,598 | -445% |
| Amounts payable | 17/49 | €100,713 | €102,251 | +€1,538 | +1.5% |
| Amounts payable within one year | 42/48 | €100,713 | €102,250 | +€1,537 | +1.5% |
| Financial debts | 43 | €99,188 | €99,424 | +€236 | +0.2% |
| Credit institutions | 430/8 | €99,188 | €99,424 | +€236 | +0.2% |
| Trade debts | 44 | €1,525 | €2,826 | +€1,301 | +85.3% |
| Suppliers | 440/4 | €1,525 | €2,826 | +€1,301 | +85.3% |
| Accrued charges and deferred income | 492/3 | - | €1 | +€1 | |
| Goods, raw materials, services and sundry goods | 60/61 | €23,805 | €14,773 | -€9,032 | -37.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,956 | €1,566 | -€2,390 | -60.4% |
| Other operating charges | 640/8 | €314 | €6,947 | +€6,633 | +2,112% |
| Gross operating margin | 9900 | -€23,805 | -€14,773 | +€9,032 | +37.9% |
| Operating profit (loss) | 9901 | -€28,075 | -€23,286 | +€4,789 | +17.1% |
| Financial income | 75/76B | €9,482 | €7,876 | -€1,606 | -16.9% |
| Recurring financial income | 75 | €9,482 | €7,876 | -€1,606 | -16.9% |
| Financial charges | 65/66B | €982 | €1,188 | +€206 | +21.0% |
| Recurring financial charges | 65 | €982 | €1,188 | +€206 | +21.0% |
| Profit (loss) for the period before taxes | 9903 | -€19,575 | -€16,598 | +€2,977 | +15.2% |
| Income taxes | 67/77 | €1,544 | - | -€1,544 | |
| Profit (loss) for the period | 9904 | -€21,119 | -€16,598 | +€4,521 | +21.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,119 | -€16,598 | +€4,521 | +21.4% |
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.