R&S: 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&S
Largest movements
- Receivables within one year -€17,800
down €17,800 (-47.3%), from €37,672 to €19,871
- Tangible fixed assets -€4,955
down €4,955 (-85.0%), from €5,830 to €874
of which Furniture and vehicles: -€4,042
- Cash +€1,953
up €1,953 (+38.7%), from €5,047 to €7,000
mainly Receivables within one year (+€17,800) and Depreciation (+€4,955)
- Deferred charges and accrued income -€1,656
no longer reported in 2025 (was €1,656)
- Other debts -€13,190
down €13,190 (-97.4%), from €13,540 to €350
- Tax, wage and social debts -€4,558
down €4,558 (-45.3%), from €10,058 to €5,499
- Current portion of long-term debt -€3,276
no longer reported in 2025 (was €3,276)
- Trade debts -€3,172
down €3,172 (-68.5%), from €4,628 to €1,456
- Profit (loss) carried forward +€1,738
up €1,738 (+265.9%), from €654 to €2,391
- Financial charges +€6,390
up €6,390 (+552.8%), from €1,156 to €7,546
- Depreciation -€2,533
down €2,533 (-33.8%), from €7,488 to €4,955
- Taxes +€920
new in 2025: €920
- Gross operating margin +€818
up €818 (+5.7%), from €14,342 to €15,160
- Other operating charges -€563
no longer reported in 2025 (was €563)
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.
Cash bridge derived
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 | €50,705 | €28,246 | -€22,459 | -44.3% |
| Fixed assets | 21/28 | €5,830 | €874 | -€4,955 | -85.0% |
| Tangible fixed assets | 22/27 | €5,830 | €874 | -€4,955 | -85.0% |
| Plant, machinery and equipment | 23 | €137 | €50 | -€87 | -63.3% |
| Furniture and vehicles | 24 | €4,042 | - | -€4,042 | |
| Other tangible fixed assets | 26 | €1,651 | €824 | -€826 | -50.1% |
| Current assets | 29/58 | €44,875 | €27,371 | -€17,504 | -39.0% |
| Stocks and contracts in progress | 3 | €500 | €500 | = | 0.0% |
| Stocks | 30/36 | €500 | €500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €37,672 | €19,871 | -€17,800 | -47.3% |
| Trade receivables | 40 | €37,672 | €19,871 | -€17,800 | -47.3% |
| Cash at bank and in hand | 54/58 | €5,047 | €7,000 | +€1,953 | +38.7% |
| Deferred charges and accrued income | 490/1 | €1,656 | - | -€1,656 | |
| Total equity and liabilities | 10/49 | €50,705 | €28,246 | -€22,459 | -44.3% |
| Equity | 10/15 | €19,204 | €20,941 | +€1,738 | +9.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €654 | €2,391 | +€1,738 | +265.9% |
| Amounts payable | 17/49 | €31,501 | €7,305 | -€24,197 | -76.8% |
| Amounts payable within one year | 42/48 | €31,501 | €7,305 | -€24,197 | -76.8% |
| Current portion of amounts payable after more than one year | 42 | €3,276 | - | -€3,276 | |
| Trade debts | 44 | €4,628 | €1,456 | -€3,172 | -68.5% |
| Suppliers | 440/4 | €4,628 | €1,456 | -€3,172 | -68.5% |
| Taxes, remuneration and social security | 45 | €10,058 | €5,499 | -€4,558 | -45.3% |
| Taxes | 450/3 | €10,058 | €5,499 | -€4,558 | -45.3% |
| Other amounts payable | 47/48 | €13,540 | €350 | -€13,190 | -97.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,488 | €4,955 | -€2,533 | -33.8% |
| Other operating charges | 640/8 | €563 | - | -€563 | |
| Gross operating margin | 9900 | €14,342 | €15,160 | +€818 | +5.7% |
| Operating profit (loss) | 9901 | €6,291 | €10,205 | +€3,914 | +62.2% |
| Financial charges | 65/66B | €1,156 | €7,546 | +€6,390 | +552.8% |
| Recurring financial charges | 65 | €1,156 | €7,546 | +€6,390 | +552.8% |
| Profit (loss) for the period before taxes | 9903 | €5,135 | €2,658 | -€2,477 | -48.2% |
| Income taxes | 67/77 | - | €920 | +€920 | |
| Profit (loss) for the period | 9904 | €5,135 | €1,738 | -€3,397 | -66.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,135 | €1,738 | -€3,397 | -66.2% |
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 10 October 2026 via checked.be.