R & S - BEHEER: 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 - BEHEER
Largest movements
- Cash +€186,600
up €186,600 (+1,315%), from €14,187 to €200,787
- Receivables within one year -€134,976
down €134,976 (-64.9%), from €207,975 to €72,999
of which Trade receivables: -€111,897
- Tangible fixed assets +€100,632
up €100,632 (+18.0%), from €560,188 to €660,820
of which Land and buildings: +€63,525
- Deferred charges and accrued income +€22,092
up €22,092 (+46.8%), from €47,176 to €69,269
- Tax, wage and social debts +€87,601
up €87,601 (+281%), from €31,185 to €118,786
of which Taxes: +€89,208
- Reserves +€65,384
up €65,384 (+10.0%), from €652,781 to €718,165
of which Distributable reserves: +€65,384
- Trade debts +€42,001
up €42,001 (+160%), from €26,263 to €68,264
- Debts after one year -€30,932
down €30,932 (-37.2%), from €83,234 to €52,302
- Other debts +€10,179
new in 2025: €10,179
- Gross operating margin +€71,526
up €71,526 (+67.1%), from €106,664 to €178,190
- Financial charges +€15,196
up €15,196 (+115%), from €13,250 to €28,446
- Taxes +€12,792
up €12,792 (+54.9%), from €23,303 to €36,095
- Depreciation +€9,641
up €9,641 (+38.2%), from €25,214 to €34,855
- Financial income -€3,531
down €3,531 (-77.4%), from €4,562 to €1,031
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €829,526 | €1,003,875 | +€174,349 | +21.0% |
| Fixed assets | 21/28 | €560,188 | €660,820 | +€100,632 | +18.0% |
| Tangible fixed assets | 22/27 | €560,188 | €660,820 | +€100,632 | +18.0% |
| Land and buildings | 22 | €545,900 | €609,425 | +€63,525 | +11.6% |
| Plant, machinery and equipment | 23 | €566 | €9,425 | +€8,859 | +1,565% |
| Furniture and vehicles | 24 | €13,722 | €41,970 | +€28,248 | +206% |
| Current assets | 29/58 | €269,338 | €343,055 | +€73,717 | +27.4% |
| Amounts receivable within one year | 40/41 | €207,975 | €72,999 | -€134,976 | -64.9% |
| Trade receivables | 40 | €126,378 | €14,482 | -€111,897 | -88.5% |
| Other amounts receivable | 41 | €81,597 | €58,518 | -€23,080 | -28.3% |
| Cash at bank and in hand | 54/58 | €14,187 | €200,787 | +€186,600 | +1,315% |
| Deferred charges and accrued income | 490/1 | €47,176 | €69,269 | +€22,092 | +46.8% |
| Total equity and liabilities | 10/49 | €829,526 | €1,003,875 | +€174,349 | +21.0% |
| Equity | 10/15 | €658,986 | €724,370 | +€65,384 | +9.9% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €652,781 | €718,165 | +€65,384 | +10.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €650,921 | €716,305 | +€65,384 | +10.0% |
| Amounts payable | 17/49 | €170,540 | €279,505 | +€108,965 | +63.9% |
| Amounts payable after more than one year | 17 | €83,234 | €52,302 | -€30,932 | -37.2% |
| Financial debts | 170/4 | €83,234 | €52,302 | -€30,932 | -37.2% |
| Amounts payable within one year | 42/48 | €81,657 | €227,204 | +€145,547 | +178% |
| Current portion of amounts payable after more than one year | 42 | €23,084 | €24,865 | +€1,782 | +7.7% |
| Financial debts | 43 | €1,125 | €5,110 | +€3,984 | +354% |
| Credit institutions | 430/8 | €1,125 | €5,110 | +€3,984 | +354% |
| Trade debts | 44 | €26,263 | €68,264 | +€42,001 | +160% |
| Suppliers | 440/4 | €26,263 | €68,264 | +€42,001 | +160% |
| Taxes, remuneration and social security | 45 | €31,185 | €118,786 | +€87,601 | +281% |
| Taxes | 450/3 | €29,578 | €118,786 | +€89,208 | +302% |
| Remuneration and social security | 454/9 | €1,607 | €0 | -€1,607 | -100% |
| Other amounts payable | 47/48 | - | €10,179 | +€10,179 | |
| Accrued charges and deferred income | 492/3 | €5,650 | €0 | -€5,650 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,214 | €34,855 | +€9,641 | +38.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €294 | €0 | -€294 | -100% |
| Other operating charges | 640/8 | €4,161 | €5,243 | +€1,081 | +26.0% |
| Non-recurring operating charges | 66A | - | €9,198 | +€9,198 | |
| Gross operating margin | 9900 | €106,664 | €178,190 | +€71,526 | +67.1% |
| Operating profit (loss) | 9901 | €76,995 | €128,894 | +€51,899 | +67.4% |
| Financial income | 75/76B | €4,562 | €1,031 | -€3,531 | -77.4% |
| Recurring financial income | 75 | €4,562 | €1,031 | -€3,531 | -77.4% |
| Financial charges | 65/66B | €13,250 | €28,446 | +€15,196 | +115% |
| Recurring financial charges | 65 | €13,250 | €28,446 | +€15,196 | +115% |
| Profit (loss) for the period before taxes | 9903 | €68,306 | €101,479 | +€33,172 | +48.6% |
| Income taxes | 67/77 | €23,303 | €36,095 | +€12,792 | +54.9% |
| Profit (loss) for the period | 9904 | €45,003 | €65,384 | +€20,380 | +45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €45,003 | €65,384 | +€20,380 | +45.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.