R-STREAM: 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-STREAM
Largest movements
- Intangible fixed assets +€91,984
up €91,984 (+113%), from €81,732 to €173,716
- Cash -€78,928
down €78,928 (-39.4%), from €200,112 to €121,184
mainly Net result for the year (-€173,966) and Investment in fixed assets (net) (-€129,714)
- Receivables within one year +€75,452
up €75,452 (+34.1%), from €221,541 to €296,993
- Other debts +€250,000
new in 2025: €250,000
- Profit (loss) carried forward -€173,966
down €173,966 (-73.4%), from €236,851 to €62,885
- Trade debts +€12,625
up €12,625 (+9.1%), from €138,186 to €150,811
- Accrued charges and deferred income +€6,897
up €6,897 (+742%), from €930 to €7,827
- Gross operating margin +€259,757
up €259,757 (+175%), from €148,244 to €408,001
- Other operating charges -€119,091
down €119,091 (-59.0%), from €201,844 to €82,753
- Staff costs +€55,702
up €55,702 (+13.9%), from €401,747 to €457,449
- Depreciation +€16,007
up €16,007 (+86.9%), from €18,428 to €34,435
- Financial charges +€9,353
up €9,353 (+117%), from €7,984 to €17,337
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 | €530,205 | €619,906 | +€89,701 | +16.9% |
| Fixed assets | 21/28 | €90,951 | €186,230 | +€95,279 | +105% |
| Intangible fixed assets | 21 | €81,732 | €173,716 | +€91,984 | +113% |
| Tangible fixed assets | 22/27 | €8,941 | €12,236 | +€3,295 | +36.9% |
| Plant, machinery and equipment | 23 | €5,292 | €10,937 | +€5,645 | +107% |
| Furniture and vehicles | 24 | €404 | €172 | -€232 | -57.4% |
| Other tangible fixed assets | 26 | €3,245 | €1,127 | -€2,118 | -65.3% |
| Financial fixed assets | 28 | €278 | €278 | = | 0.0% |
| Current assets | 29/58 | €439,254 | €433,676 | -€5,578 | -1.3% |
| Amounts receivable within one year | 40/41 | €221,541 | €296,993 | +€75,452 | +34.1% |
| Trade receivables | 40 | €221,541 | €296,993 | +€75,452 | +34.1% |
| Cash at bank and in hand | 54/58 | €200,112 | €121,184 | -€78,928 | -39.4% |
| Deferred charges and accrued income | 490/1 | €17,601 | €15,499 | -€2,102 | -11.9% |
| Total equity and liabilities | 10/49 | €530,205 | €619,906 | +€89,701 | +16.9% |
| Equity | 10/15 | €305,051 | €131,085 | -€173,966 | -57.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €236,851 | €62,885 | -€173,966 | -73.4% |
| Amounts payable | 17/49 | €225,154 | €488,821 | +€263,667 | +117% |
| Amounts payable within one year | 42/48 | €224,224 | €480,994 | +€256,770 | +115% |
| Trade debts | 44 | €138,186 | €150,811 | +€12,625 | +9.1% |
| Suppliers | 440/4 | €138,186 | €150,811 | +€12,625 | +9.1% |
| Taxes, remuneration and social security | 45 | €86,038 | €80,183 | -€5,855 | -6.8% |
| Taxes | 450/3 | €26,790 | €26,287 | -€503 | -1.9% |
| Remuneration and social security | 454/9 | €59,248 | €53,896 | -€5,352 | -9.0% |
| Other amounts payable | 47/48 | - | €250,000 | +€250,000 | |
| Accrued charges and deferred income | 492/3 | €930 | €7,827 | +€6,897 | +742% |
| Remuneration, social security and pensions | 62 | €401,747 | €457,449 | +€55,702 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,428 | €34,435 | +€16,007 | +86.9% |
| Other operating charges | 640/8 | €201,844 | €82,753 | -€119,091 | -59.0% |
| Non-recurring operating charges | 66A | €207 | - | -€207 | |
| Gross operating margin | 9900 | €148,244 | €408,001 | +€259,757 | +175% |
| Operating profit (loss) | 9901 | -€473,982 | -€166,636 | +€307,346 | +64.8% |
| Financial income | 75/76B | €6,199 | €11,053 | +€4,854 | +78.3% |
| Recurring financial income | 75 | €1 | €24 | +€23 | +2,300% |
| Non-recurring financial income | 76B | €6,198 | €11,029 | +€4,831 | +77.9% |
| Financial charges | 65/66B | €7,984 | €17,337 | +€9,353 | +117% |
| Recurring financial charges | 65 | €7,984 | €17,337 | +€9,353 | +117% |
| Profit (loss) for the period before taxes | 9903 | -€475,767 | -€172,920 | +€302,847 | +63.7% |
| Income taxes | 67/77 | €2,849 | €1,046 | -€1,803 | -63.3% |
| Profit (loss) for the period | 9904 | -€478,616 | -€173,966 | +€304,650 | +63.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€478,616 | -€173,966 | +€304,650 | +63.7% |
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 13 October 2026 via checked.be.