R&S WHEELS: 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 WHEELS
Largest movements
- Cash +€227,923
up €227,923 (+120%), from €189,389 to €417,312
mainly Net result for the year (+€157,726) and Stocks and contracts (+€98,643)
- Stocks and contracts -€98,643
down €98,643 (-20.3%), from €485,261 to €386,618
- Tangible fixed assets -€36,999
down €36,999 (-8.6%), from €430,067 to €393,068
of which Land and buildings: -€29,161
- Reserves +€121,226
up €121,226 (+19.0%), from €639,570 to €760,796
- Tax, wage and social debts -€21,273
down €21,273 (-29.6%), from €71,749 to €50,476
of which Taxes: -€21,301
- Contributions +€18,600
new in 2025: €18,600
- Debts after one year -€14,315
down €14,315 (-6.8%), from €210,766 to €196,451
- Gross operating margin +€20,570
up €20,570 (+7.1%), from €290,796 to €311,366
- Taxes +€6,147
up €6,147 (+8.9%), from €68,910 to €75,057
- Financial charges +€5,038
up €5,038 (+31.3%), from €16,116 to €21,154
- Depreciation -€4,173
down €4,173 (-8.5%), from €48,902 to €44,729
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 | €1,156,510 | €1,262,850 | +€106,340 | +9.2% |
| Fixed assets | 21/28 | €430,067 | €393,313 | -€36,754 | -8.5% |
| Tangible fixed assets | 22/27 | €430,067 | €393,068 | -€36,999 | -8.6% |
| Land and buildings | 22 | €374,349 | €345,188 | -€29,161 | -7.8% |
| Plant, machinery and equipment | 23 | €41,237 | €40,972 | -€265 | -0.6% |
| Furniture and vehicles | 24 | €14,482 | €6,908 | -€7,574 | -52.3% |
| Financial fixed assets | 28 | - | €245 | +€245 | |
| Current assets | 29/58 | €726,442 | €869,537 | +€143,095 | +19.7% |
| Stocks and contracts in progress | 3 | €485,261 | €386,618 | -€98,643 | -20.3% |
| Stocks | 30/36 | €485,261 | €386,618 | -€98,643 | -20.3% |
| Amounts receivable within one year | 40/41 | €48,370 | €59,980 | +€11,610 | +24.0% |
| Trade receivables | 40 | €48,370 | €59,980 | +€11,610 | +24.0% |
| Current investments | 50/53 | €245 | - | -€245 | |
| Cash at bank and in hand | 54/58 | €189,389 | €417,312 | +€227,923 | +120% |
| Deferred charges and accrued income | 490/1 | €3,177 | €5,627 | +€2,450 | +77.1% |
| Total equity and liabilities | 10/49 | €1,156,510 | €1,262,850 | +€106,340 | +9.2% |
| Equity | 10/15 | €639,570 | €779,396 | +€139,826 | +21.9% |
| Contributions | 10/11 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €639,570 | €760,796 | +€121,226 | +19.0% |
| Distributable reserves | 133 | €639,570 | €760,796 | +€121,226 | +19.0% |
| Amounts payable | 17/49 | €516,939 | €483,454 | -€33,485 | -6.5% |
| Amounts payable after more than one year | 17 | €210,766 | €196,451 | -€14,315 | -6.8% |
| Financial debts | 170/4 | €210,766 | €196,451 | -€14,315 | -6.8% |
| Amounts payable within one year | 42/48 | €306,173 | €285,752 | -€20,421 | -6.7% |
| Current portion of amounts payable after more than one year | 42 | €26,564 | €15,600 | -€10,964 | -41.3% |
| Trade debts | 44 | €20,975 | €20,887 | -€88 | -0.4% |
| Suppliers | 440/4 | €20,975 | €20,887 | -€88 | -0.4% |
| Taxes, remuneration and social security | 45 | €71,749 | €50,476 | -€21,273 | -29.6% |
| Taxes | 450/3 | €71,749 | €50,448 | -€21,301 | -29.7% |
| Remuneration and social security | 454/9 | - | €28 | +€28 | |
| Other amounts payable | 47/48 | €186,886 | €198,789 | +€11,903 | +6.4% |
| Accrued charges and deferred income | 492/3 | - | €1,251 | +€1,251 | |
| Remuneration, social security and pensions | 62 | €7,187 | €4,914 | -€2,273 | -31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,902 | €44,729 | -€4,173 | -8.5% |
| Other operating charges | 640/8 | €5,346 | €6,623 | +€1,277 | +23.9% |
| Non-recurring operating charges | 66A | - | €1,494 | +€1,494 | |
| Gross operating margin | 9900 | €290,796 | €311,366 | +€20,570 | +7.1% |
| Operating profit (loss) | 9901 | €229,361 | €253,606 | +€24,245 | +10.6% |
| Financial income | 75/76B | €1,950 | €331 | -€1,619 | -83.0% |
| Recurring financial income | 75 | €1,950 | €331 | -€1,619 | -83.0% |
| Financial charges | 65/66B | €16,116 | €21,154 | +€5,038 | +31.3% |
| Recurring financial charges | 65 | €16,116 | €21,154 | +€5,038 | +31.3% |
| Profit (loss) for the period before taxes | 9903 | €215,195 | €232,783 | +€17,588 | +8.2% |
| Income taxes | 67/77 | €68,910 | €75,057 | +€6,147 | +8.9% |
| Profit (loss) for the period | 9904 | €146,285 | €157,726 | +€11,441 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €146,285 | €157,726 | +€11,441 | +7.8% |
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 15 October 2026 via checked.be.