R&S INVEST: what changed
R&S INVEST
Largest movements
- Receivables within one year +€19,958
up €19,958 (+94.2%), from €21,186 to €41,144
of which Trade receivables: +€20,279
- Tangible fixed assets +€19,171
up €19,171 (+389%), from €4,926 to €24,098
of which Furniture and vehicles: +€9,659
- Intangible fixed assets -€5,000
down €5,000 (-27.7%), from €18,046 to €13,046
- Cash -€1,526
down €1,526 (-31.1%), from €4,912 to €3,386
mainly Investment in fixed assets (net) (-€26,635) and Receivables within one year (-€19,958)
- Profit (loss) carried forward +€22,077
up €22,077 (+209%), from €10,563 to €32,640
- Trade debts +€10,553
up €10,553 (+41.2%), from €25,584 to €36,137
- Gross operating margin +€9,306
up €9,306 (+12.1%), from €76,810 to €86,116
- Staff costs -€6,357
down €6,357 (-13.0%), from €48,889 to €42,533
- Taxes +€2,435
up €2,435 (+52.6%), from €4,632 to €7,067
- Depreciation +€1,411
up €1,411 (+12.8%), from €11,052 to €12,463
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €49,071 | €81,674 | +€32,604 | +66.4% |
| Fixed assets | 21/28 | €22,973 | €37,144 | +€14,171 | +61.7% |
| Intangible fixed assets | 21 | €18,046 | €13,046 | -€5,000 | -27.7% |
| Tangible fixed assets | 22/27 | €4,926 | €24,098 | +€19,171 | +389% |
| Plant, machinery and equipment | 23 | €593 | €10,105 | +€9,512 | +1,604% |
| Furniture and vehicles | 24 | €4,333 | €13,993 | +€9,659 | +223% |
| Current assets | 29/58 | €26,098 | €44,530 | +€18,432 | +70.6% |
| Amounts receivable within one year | 40/41 | €21,186 | €41,144 | +€19,958 | +94.2% |
| Trade receivables | 40 | €20,266 | €40,545 | +€20,279 | +100% |
| Other amounts receivable | 41 | €920 | €599 | -€320 | -34.8% |
| Cash at bank and in hand | 54/58 | €4,912 | €3,386 | -€1,526 | -31.1% |
| Total equity and liabilities | 10/49 | €49,071 | €81,674 | +€32,604 | +66.4% |
| Equity | 10/15 | €10,563 | €32,640 | +€22,077 | +209% |
| Profit (loss) carried forward | 14 | €10,563 | €32,640 | +€22,077 | +209% |
| Amounts payable | 17/49 | €38,508 | €49,034 | +€10,527 | +27.3% |
| Amounts payable within one year | 42/48 | €38,508 | €49,034 | +€10,527 | +27.3% |
| Trade debts | 44 | €25,584 | €36,137 | +€10,553 | +41.2% |
| Suppliers | 440/4 | €25,584 | €36,137 | +€10,553 | +41.2% |
| Taxes, remuneration and social security | 45 | €12,782 | €12,725 | -€56 | -0.4% |
| Taxes | 450/3 | €4,632 | €11,698 | +€7,066 | +153% |
| Remuneration and social security | 454/9 | €8,149 | €1,027 | -€7,122 | -87.4% |
| Other amounts payable | 47/48 | €142 | €172 | +€30 | +20.9% |
| Remuneration, social security and pensions | 62 | €48,889 | €42,533 | -€6,357 | -13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,052 | €12,463 | +€1,411 | +12.8% |
| Other operating charges | 640/8 | €1,438 | €1,015 | -€423 | -29.4% |
| Gross operating margin | 9900 | €76,810 | €86,116 | +€9,306 | +12.1% |
| Operating profit (loss) | 9901 | €15,431 | €30,105 | +€14,674 | +95.1% |
| Financial charges | 65/66B | €236 | €960 | +€724 | +307% |
| Recurring financial charges | 65 | €236 | €960 | +€724 | +307% |
| Profit (loss) for the period before taxes | 9903 | €15,195 | €29,144 | +€13,950 | +91.8% |
| Income taxes | 67/77 | €4,632 | €7,067 | +€2,435 | +52.6% |
| Profit (loss) for the period | 9904 | €10,563 | €22,077 | +€11,514 | +109% |
| Profit (loss) for the period to be appropriated | 9905 | €10,563 | €22,077 | +€11,514 | +109% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.