R&S Consulting: 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 Consulting
Largest movements
- Current investments -€132,603
down €132,603 (-45.5%), from €291,690 to €159,087
- Deferred charges and accrued income -€92,813
down €92,813 (-61.4%), from €151,237 to €58,424
- Cash +€65,514
up €65,514 (+432%), from €15,177 to €80,691
mainly Current investments (+€132,603) and Deferred charges and accrued income (+€92,813)
- Tangible fixed assets -€45,606
down €45,606 (-2.7%), from €1.7m to €1.6m
of which Land and buildings: -€37,149
- Receivables within one year -€22,095
down €22,095 (-54.5%), from €40,526 to €18,431
of which Trade receivables: -€15,657
- Profit (loss) carried forward -€140,125
down €140,125 (-12.9%), from €1.1m to €944,074
- Debts after one year -€78,989
down €78,989 (-12.0%), from €657,142 to €578,152
- Trade debts -€77,974
down €77,974 (-96.4%), from €80,927 to €2,953
- Short-term financial debts +€50,000
new in 2025: €50,000
- Gross operating margin -€241,174
down €241,174, from €190,653 to -€50,521
- Financial income +€34,025
up €34,025 (+166%), from €20,511 to €54,536
- Depreciation +€16,268
up €16,268 (+21.4%), from €75,971 to €92,240
- Financial charges -€3,465
down €3,465 (-8.9%), from €38,814 to €35,349
- Taxes +€2,971
up €2,971, from -€1,767 to €1,204
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 | €2,185,086 | €1,957,483 | -€227,603 | -10.4% |
| Fixed assets | 21/28 | €1,686,457 | €1,640,851 | -€45,606 | -2.7% |
| Tangible fixed assets | 22/27 | €1,662,207 | €1,616,601 | -€45,606 | -2.7% |
| Land and buildings | 22 | €1,627,159 | €1,590,010 | -€37,149 | -2.3% |
| Plant, machinery and equipment | 23 | €8,727 | €5,887 | -€2,840 | -32.5% |
| Furniture and vehicles | 24 | €22,013 | €17,638 | -€4,375 | -19.9% |
| Other tangible fixed assets | 26 | €4,308 | €3,067 | -€1,241 | -28.8% |
| Financial fixed assets | 28 | €24,250 | €24,250 | = | 0.0% |
| Current assets | 29/58 | €498,629 | €316,632 | -€181,996 | -36.5% |
| Amounts receivable within one year | 40/41 | €40,526 | €18,431 | -€22,095 | -54.5% |
| Trade receivables | 40 | €28,009 | €12,352 | -€15,657 | -55.9% |
| Other amounts receivable | 41 | €12,517 | €6,078 | -€6,438 | -51.4% |
| Current investments | 50/53 | €291,690 | €159,087 | -€132,603 | -45.5% |
| Cash at bank and in hand | 54/58 | €15,177 | €80,691 | +€65,514 | +432% |
| Deferred charges and accrued income | 490/1 | €151,237 | €58,424 | -€92,813 | -61.4% |
| Total equity and liabilities | 10/49 | €2,185,086 | €1,957,483 | -€227,603 | -10.4% |
| Equity | 10/15 | €1,288,661 | €1,148,536 | -€140,125 | -10.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €184,463 | €184,463 | = | 0.0% |
| Distributable reserves | 133 | €184,463 | €184,463 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,084,198 | €944,074 | -€140,125 | -12.9% |
| Amounts payable | 17/49 | €896,425 | €808,947 | -€87,478 | -9.8% |
| Amounts payable after more than one year | 17 | €657,142 | €578,152 | -€78,989 | -12.0% |
| Financial debts | 170/4 | €657,142 | €578,152 | -€78,989 | -12.0% |
| Amounts payable within one year | 42/48 | €235,533 | €226,712 | -€8,821 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €77,565 | €78,989 | +€1,424 | +1.8% |
| Financial debts | 43 | - | €50,000 | +€50,000 | |
| Credit institutions | 430/8 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €80,927 | €2,953 | -€77,974 | -96.4% |
| Suppliers | 440/4 | €80,927 | €2,953 | -€77,974 | -96.4% |
| Taxes, remuneration and social security | 45 | €2,041 | €3 | -€2,038 | -99.8% |
| Taxes | 450/3 | €2,041 | €3 | -€2,038 | -99.8% |
| Other amounts payable | 47/48 | €75,000 | €94,767 | +€19,767 | +26.4% |
| Accrued charges and deferred income | 492/3 | €3,750 | €4,082 | +€332 | +8.9% |
| Non-recurring operating income | 76A | €10,190 | - | -€10,190 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,971 | €92,240 | +€16,268 | +21.4% |
| Other operating charges | 640/8 | €12,446 | €15,147 | +€2,701 | +21.7% |
| Non-recurring operating charges | 66A | €10,149 | €200 | -€9,949 | -98.0% |
| Gross operating margin | 9900 | €190,653 | -€50,521 | -€241,174 | |
| Operating profit (loss) | 9901 | €92,087 | -€158,107 | -€250,194 | |
| Financial income | 75/76B | €20,511 | €54,536 | +€34,025 | +166% |
| Recurring financial income | 75 | €20,511 | €54,536 | +€34,025 | +166% |
| Financial charges | 65/66B | €38,814 | €35,349 | -€3,465 | -8.9% |
| Recurring financial charges | 65 | €38,814 | €35,349 | -€3,465 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €73,783 | -€138,921 | -€212,704 | |
| Income taxes | 67/77 | -€1,767 | €1,204 | +€2,971 | |
| Profit (loss) for the period | 9904 | €75,551 | -€140,125 | -€215,676 | |
| Profit (loss) for the period to be appropriated | 9905 | €75,551 | -€140,125 | -€215,676 |
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 29 October 2026 via checked.be.