R.S.A. CONCEPT: 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. CONCEPT
Largest movements
- Intangible fixed assets -€63,418
down €63,418 (-35.3%), from €179,499 to €116,080
- Stocks and contracts +€47,310
up €47,310 (+220%), from €21,495 to €68,805
- Cash +€37,741
up €37,741 (+6,040%), from €625 to €38,366
mainly Other debts (+€94,604) and Depreciation (+€63,599)
- Receivables within one year -€29,729
down €29,729 (-84.2%), from €35,318 to €5,590
of which Other amounts receivable: -€22,995
- Profit (loss) carried forward -€112,913
down €112,913 (-9.4%), from -€1.2m to -€1.3m
- Other debts +€94,604
up €94,604 (+6.9%), from €1.4m to €1.5m
- Trade debts +€7,075
up €7,075 (+219%), from €3,233 to €10,309
- Tax, wage and social debts +€3,737
up €3,737 (+414%), from €902 to €4,639
- Gross operating margin +€26,830
up €26,830 (+36.0%), from -€74,603 to -€47,773
- Depreciation +€3,802
up €3,802 (+6.4%), from €59,797 to €63,599
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 | €239,076 | €231,579 | -€7,498 | -3.1% |
| Fixed assets | 21/28 | €180,680 | €117,080 | -€63,599 | -35.2% |
| Intangible fixed assets | 21 | €179,499 | €116,080 | -€63,418 | -35.3% |
| Tangible fixed assets | 22/27 | €181 | - | -€181 | |
| Furniture and vehicles | 24 | €181 | - | -€181 | |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €58,397 | €114,498 | +€56,102 | +96.1% |
| Stocks and contracts in progress | 3 | €21,495 | €68,805 | +€47,310 | +220% |
| Stocks | 30/36 | €21,495 | €68,805 | +€47,310 | +220% |
| Amounts receivable within one year | 40/41 | €35,318 | €5,590 | -€29,729 | -84.2% |
| Trade receivables | 40 | €8,744 | €2,010 | -€6,734 | -77.0% |
| Other amounts receivable | 41 | €26,574 | €3,580 | -€22,995 | -86.5% |
| Cash at bank and in hand | 54/58 | €625 | €38,366 | +€37,741 | +6,040% |
| Deferred charges and accrued income | 490/1 | €959 | €1,738 | +€779 | +81.3% |
| Total equity and liabilities | 10/49 | €239,076 | €231,579 | -€7,498 | -3.1% |
| Equity | 10/15 | -€1,132,687 | -€1,245,600 | -€112,913 | -10.0% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,195,687 | -€1,308,600 | -€112,913 | -9.4% |
| Amounts payable | 17/49 | €1,371,764 | €1,477,179 | +€105,415 | +7.7% |
| Amounts payable within one year | 42/48 | €1,371,764 | €1,477,179 | +€105,415 | +7.7% |
| Trade debts | 44 | €3,233 | €10,309 | +€7,075 | +219% |
| Suppliers | 440/4 | €3,233 | €10,309 | +€7,075 | +219% |
| Taxes, remuneration and social security | 45 | €902 | €4,639 | +€3,737 | +414% |
| Taxes | 450/3 | €902 | €4,639 | +€3,737 | +414% |
| Other amounts payable | 47/48 | €1,367,628 | €1,462,232 | +€94,604 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,797 | €63,599 | +€3,802 | +6.4% |
| Other operating charges | 640/8 | €899 | €928 | +€30 | +3.3% |
| Gross operating margin | 9900 | -€74,603 | -€47,773 | +€26,830 | +36.0% |
| Operating profit (loss) | 9901 | -€135,299 | -€112,300 | +€22,998 | +17.0% |
| Financial charges | 65/66B | €136 | €147 | +€11 | +7.9% |
| Recurring financial charges | 65 | €136 | €147 | +€11 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | -€135,435 | -€112,447 | +€22,988 | +17.0% |
| Income taxes | 67/77 | €457 | €466 | +€9 | +1.9% |
| Profit (loss) for the period | 9904 | -€135,892 | -€112,913 | +€22,979 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€135,892 | -€112,913 | +€22,979 | +16.9% |
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 26 October 2026 via checked.be.