R.S.A: 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.A
Largest movements
- Cash -€38,561
down €38,561 (-28.2%), from €136,572 to €98,010
mainly Investment in fixed assets (net) (-€30,011) and Receivables within one year (-€9,307)
- Tangible fixed assets +€27,073
up €27,073 (+33.7%), from €80,370 to €107,443
of which Land and buildings: +€37,673
- Receivables within one year +€9,307
new in 2025: €9,307
- Other debts -€7,325
no longer reported in 2025 (was €7,325)
- Reserves +€3,788
up €3,788 (+8.0%), from €47,077 to €50,865
of which Distributable reserves: +€3,788
- Gross operating margin +€5,833
up €5,833 (+111%), from €5,260 to €11,094
- Depreciation +€2,394
up €2,394 (+440%), from €545 to €2,939
- Taxes +€1,672
up €1,672 (+154%), from €1,087 to €2,759
- Financial charges -€803
down €803 (-92.4%), from €869 to €66
- Financial income +€450
up €450 (+113%), from €398 to €849
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 | €216,942 | €214,760 | -€2,181 | -1.0% |
| Fixed assets | 21/28 | €80,370 | €107,443 | +€27,073 | +33.7% |
| Tangible fixed assets | 22/27 | €80,370 | €107,443 | +€27,073 | +33.7% |
| Land and buildings | 22 | €69,770 | €107,443 | +€37,673 | +54.0% |
| Assets under construction and advance payments | 27 | €10,600 | - | -€10,600 | |
| Current assets | 29/58 | €136,572 | €107,318 | -€29,254 | -21.4% |
| Amounts receivable within one year | 40/41 | - | €9,307 | +€9,307 | |
| Other amounts receivable | 41 | - | €9,307 | +€9,307 | |
| Cash at bank and in hand | 54/58 | €136,572 | €98,010 | -€38,561 | -28.2% |
| Total equity and liabilities | 10/49 | €216,942 | €214,760 | -€2,181 | -1.0% |
| Equity | 10/15 | €205,864 | €209,652 | +€3,788 | +1.8% |
| Contributions | 10/11 | €105,355 | €105,355 | = | 0.0% |
| Capital | 10 | €105,355 | €105,355 | = | 0.0% |
| Issued capital | 100 | €105,355 | €105,355 | = | 0.0% |
| Reserves | 13 | €47,077 | €50,865 | +€3,788 | +8.0% |
| Non-distributable reserves | 130/1 | €10,535 | €10,535 | = | 0.0% |
| Legal reserve | 130 | €10,535 | €10,535 | = | 0.0% |
| Distributable reserves | 133 | €36,542 | €40,329 | +€3,788 | +10.4% |
| Profit (loss) carried forward | 14 | €53,432 | €53,432 | = | 0.0% |
| Amounts payable | 17/49 | €11,078 | €5,108 | -€5,969 | -53.9% |
| Amounts payable within one year | 42/48 | €11,078 | €5,108 | -€5,969 | -53.9% |
| Trade debts | 44 | €2,785 | €2,604 | -€181 | -6.5% |
| Suppliers | 440/4 | €2,785 | €2,604 | -€181 | -6.5% |
| Taxes, remuneration and social security | 45 | €968 | €2,504 | +€1,536 | +159% |
| Taxes | 450/3 | €968 | €2,504 | +€1,536 | +159% |
| Other amounts payable | 47/48 | €7,325 | - | -€7,325 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €545 | €2,939 | +€2,394 | +440% |
| Other operating charges | 640/8 | €2,157 | €2,391 | +€234 | +10.8% |
| Gross operating margin | 9900 | €5,260 | €11,094 | +€5,833 | +111% |
| Operating profit (loss) | 9901 | €2,558 | €5,764 | +€3,206 | +125% |
| Financial income | 75/76B | €398 | €849 | +€450 | +113% |
| Recurring financial income | 75 | €398 | €849 | +€450 | +113% |
| Financial charges | 65/66B | €869 | €66 | -€803 | -92.4% |
| Recurring financial charges | 65 | €869 | €66 | -€803 | -92.4% |
| Profit (loss) for the period before taxes | 9903 | €2,088 | €6,546 | +€4,459 | +214% |
| Income taxes | 67/77 | €1,087 | €2,759 | +€1,672 | +154% |
| Profit (loss) for the period | 9904 | €1,001 | €3,788 | +€2,787 | +278% |
| Profit (loss) for the period to be appropriated | 9905 | €1,001 | €3,788 | +€2,787 | +278% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.