R-TRADING: 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-TRADING
Largest movements
- Receivables within one year +€75,761
up €75,761 (+29.4%), from €257,414 to €333,175
of which Trade receivables: +€85,761
- Cash +€32,828
up €32,828 (+6.8%), from €483,823 to €516,651
mainly Net result for the year (+€279,766) and Tax, wage and social debts (+€49,516)
- Stocks and contracts +€22,064
up €22,064 (+17.3%), from €127,884 to €149,948
- Reserves +€50,000
up €50,000 (+39.3%), from €127,273 to €177,273
- Tax, wage and social debts +€49,516
up €49,516 (+31.8%), from €155,597 to €205,112
of which Taxes: +€26,234
- Profit (loss) carried forward +€20,516
up €20,516 (+6.1%), from €338,819 to €359,336
- Trade debts +€15,738
up €15,738 (+21.2%), from €74,291 to €90,028
- Staff costs +€83,387
up €83,387 (+64.2%), from €129,801 to €213,188
- Gross operating margin +€79,349
up €79,349 (+15.1%), from €526,085 to €605,433
- Financial income -€8,093
down €8,093 (-67.9%), from €11,911 to €3,818
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 | €916,657 | €1,045,469 | +€128,812 | +14.1% |
| Fixed assets | 21/28 | €26,711 | €19,437 | -€7,274 | -27.2% |
| Tangible fixed assets | 22/27 | €23,461 | €16,187 | -€7,274 | -31.0% |
| Furniture and vehicles | 24 | €23,461 | €16,187 | -€7,274 | -31.0% |
| Financial fixed assets | 28 | €3,250 | €3,250 | = | 0.0% |
| Current assets | 29/58 | €889,947 | €1,026,032 | +€136,086 | +15.3% |
| Stocks and contracts in progress | 3 | €127,884 | €149,948 | +€22,064 | +17.3% |
| Stocks | 30/36 | €127,884 | €149,948 | +€22,064 | +17.3% |
| Amounts receivable within one year | 40/41 | €257,414 | €333,175 | +€75,761 | +29.4% |
| Trade receivables | 40 | €247,414 | €333,175 | +€85,761 | +34.7% |
| Other amounts receivable | 41 | €10,000 | - | -€10,000 | |
| Cash at bank and in hand | 54/58 | €483,823 | €516,651 | +€32,828 | +6.8% |
| Deferred charges and accrued income | 490/1 | €20,825 | €26,258 | +€5,433 | +26.1% |
| Total equity and liabilities | 10/49 | €916,657 | €1,045,469 | +€128,812 | +14.1% |
| Equity | 10/15 | €469,092 | €539,608 | +€70,516 | +15.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €127,273 | €177,273 | +€50,000 | +39.3% |
| Distributable reserves | 133 | €127,273 | €177,273 | +€50,000 | +39.3% |
| Profit (loss) carried forward | 14 | €338,819 | €359,336 | +€20,516 | +6.1% |
| Amounts payable | 17/49 | €447,565 | €505,861 | +€58,296 | +13.0% |
| Amounts payable within one year | 42/48 | €440,665 | €505,761 | +€65,096 | +14.8% |
| Trade debts | 44 | €74,291 | €90,028 | +€15,738 | +21.2% |
| Suppliers | 440/4 | €74,291 | €90,028 | +€15,738 | +21.2% |
| Advances received on contracts in progress | 46 | €28 | €28 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €155,597 | €205,112 | +€49,516 | +31.8% |
| Taxes | 450/3 | €130,103 | €156,337 | +€26,234 | +20.2% |
| Remuneration and social security | 454/9 | €25,494 | €48,775 | +€23,281 | +91.3% |
| Other amounts payable | 47/48 | €210,750 | €210,593 | -€157 | -0.1% |
| Accrued charges and deferred income | 492/3 | €6,900 | €100 | -€6,800 | -98.6% |
| Remuneration, social security and pensions | 62 | €129,801 | €213,188 | +€83,387 | +64.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,714 | €7,274 | -€440 | -5.7% |
| Other operating charges | 640/8 | €817 | €894 | +€78 | +9.5% |
| Gross operating margin | 9900 | €526,085 | €605,433 | +€79,349 | +15.1% |
| Operating profit (loss) | 9901 | €387,753 | €384,077 | -€3,676 | -0.9% |
| Financial income | 75/76B | €11,911 | €3,818 | -€8,093 | -67.9% |
| Recurring financial income | 75 | €11,911 | €3,818 | -€8,093 | -67.9% |
| Financial charges | 65/66B | €3,545 | €7,210 | +€3,665 | +103% |
| Recurring financial charges | 65 | €3,545 | €7,210 | +€3,665 | +103% |
| Profit (loss) for the period before taxes | 9903 | €396,120 | €380,686 | -€15,434 | -3.9% |
| Income taxes | 67/77 | €102,146 | €100,920 | -€1,226 | -1.2% |
| Profit (loss) for the period | 9904 | €293,974 | €279,766 | -€14,207 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €293,974 | €279,766 | -€14,207 | -4.8% |
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 14 October 2026 via checked.be.