R.V.H.: what changed
Two fiscal 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.V.H.
Largest movements
- Receivables within one year +€14,935
up €14,935 (+14.0%), from €106,818 to €121,754
of which Other amounts receivable: +€14,609
- Cash -€6,161
down €6,161 (-94.5%), from €6,520 to €359
mainly Receivables within one year (-€14,935) and Investment in fixed assets (net) (-€7,147)
- Deferred charges and accrued income -€3,099
down €3,099 (-100.0%), from €3,099 to €0
- Tax, wage and social debts +€6,828
up €6,828 (+50.9%), from €13,402 to €20,230
of which Taxes: +€4,953
- Trade debts -€2,600
down €2,600 (-28.8%), from €9,038 to €6,438
- Reserves +€2,000
up €2,000 (+4.2%), from €47,360 to €49,360
of which Distributable reserves: +€2,000
- Gross operating margin -€6,566
down €6,566 (-7.2%), from €90,732 to €84,166
- Staff costs +€4,110
up €4,110 (+6.3%), from €65,032 to €69,142
- Taxes -€2,563
down €2,563 (-67.8%), from €3,777 to €1,215
- Depreciation -€2,374
down €2,374 (-24.3%), from €9,781 to €7,407
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.
Cash bridge derived
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 | €142,328 | €147,743 | +€5,416 | +3.8% |
| Fixed assets | 21/28 | €21,391 | €21,131 | -€260 | -1.2% |
| Tangible fixed assets | 22/27 | €21,241 | €20,981 | -€260 | -1.2% |
| Plant, machinery and equipment | 23 | €8,332 | €8,280 | -€52 | -0.6% |
| Furniture and vehicles | 24 | €12,908 | €12,700 | -€208 | -1.6% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €120,937 | €126,613 | +€5,676 | +4.7% |
| Stocks and contracts in progress | 3 | €4,500 | €4,500 | = | 0.0% |
| Stocks | 30/36 | €4,500 | €4,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €106,818 | €121,754 | +€14,935 | +14.0% |
| Trade receivables | 40 | €37 | €363 | +€326 | +882.4% |
| Other amounts receivable | 41 | €106,781 | €121,391 | +€14,609 | +13.7% |
| Cash at bank and in hand | 54/58 | €6,520 | €359 | -€6,161 | -94.5% |
| Deferred charges and accrued income | 490/1 | €3,099 | €0 | -€3,099 | -100.0% |
| Total equity and liabilities | 10/49 | €142,328 | €147,743 | +€5,416 | +3.8% |
| Equity | 10/15 | €118,467 | €121,076 | +€2,609 | +2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €47,360 | €49,360 | +€2,000 | +4.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,000 | €29,000 | = | 0.0% |
| Distributable reserves | 133 | €16,500 | €18,500 | +€2,000 | +12.1% |
| Profit (loss) carried forward | 14 | €52,507 | €53,116 | +€609 | +1.2% |
| Amounts payable | 17/49 | €23,861 | €26,667 | +€2,807 | +11.8% |
| Amounts payable within one year | 42/48 | €22,440 | €26,667 | +€4,228 | +18.8% |
| Trade debts | 44 | €9,038 | €6,438 | -€2,600 | -28.8% |
| Suppliers | 440/4 | €9,038 | €6,438 | -€2,600 | -28.8% |
| Taxes, remuneration and social security | 45 | €13,402 | €20,230 | +€6,828 | +50.9% |
| Taxes | 450/3 | €5,073 | €10,025 | +€4,953 | +97.6% |
| Remuneration and social security | 454/9 | €8,329 | €10,204 | +€1,875 | +22.5% |
| Accrued charges and deferred income | 492/3 | €1,421 | €0 | -€1,421 | -100.0% |
| Remuneration, social security and pensions | 62 | €65,032 | €69,142 | +€4,110 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,781 | €7,407 | -€2,374 | -24.3% |
| Other operating charges | 640/8 | €1,769 | €2,369 | +€600 | +33.9% |
| Gross operating margin | 9900 | €90,732 | €84,166 | -€6,566 | -7.2% |
| Operating profit (loss) | 9901 | €14,149 | €5,247 | -€8,902 | -62.9% |
| Financial income | 75/76B | €112 | €0 | -€112 | -100.0% |
| Recurring financial income | 75 | €112 | €0 | -€112 | -100.0% |
| Financial charges | 65/66B | €1,930 | €1,424 | -€507 | -26.2% |
| Recurring financial charges | 65 | €1,930 | €1,424 | -€507 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €12,330 | €3,824 | -€8,507 | -69.0% |
| Income taxes | 67/77 | €3,777 | €1,215 | -€2,563 | -67.8% |
| Profit (loss) for the period | 9904 | €8,553 | €2,609 | -€5,944 | -69.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,553 | €2,609 | -€5,944 | -69.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.