R.V.M.A.: 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.V.M.A.
Largest movements
- Cash +€15,197
up €15,197 (+5.5%), from €275,599 to €290,796
mainly Net result for the year (+€9,636) and Depreciation (+€6,463)
- Tangible fixed assets -€6,463
down €6,463 (-4.3%), from €150,610 to €144,147
of which Land and buildings: -€6,328
- Reserves +€9,636
up €9,636 (+6.9%), from €140,112 to €149,748
of which Distributable reserves: +€8,636
- Gross operating margin -€6,093
down €6,093 (-20.1%), from €30,264 to €24,171
- Taxes -€1,429
down €1,429 (-29.2%), from €4,897 to €3,468
- Financial income +€1,377
up €1,377 (+334%), from €413 to €1,790
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 | €469,143 | €476,874 | +€7,731 | +1.6% |
| Fixed assets | 21/28 | €150,610 | €144,147 | -€6,463 | -4.3% |
| Tangible fixed assets | 22/27 | €150,610 | €144,147 | -€6,463 | -4.3% |
| Land and buildings | 22 | €149,485 | €143,157 | -€6,328 | -4.2% |
| Plant, machinery and equipment | 23 | €1,125 | €990 | -€135 | -12.0% |
| Current assets | 29/58 | €318,533 | €332,727 | +€14,194 | +4.5% |
| Current investments | 50/53 | €40,869 | €40,869 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €275,599 | €290,796 | +€15,197 | +5.5% |
| Deferred charges and accrued income | 490/1 | €2,065 | €1,062 | -€1,003 | -48.6% |
| Total equity and liabilities | 10/49 | €469,143 | €476,874 | +€7,731 | +1.6% |
| Equity | 10/15 | €458,656 | €468,291 | +€9,636 | +2.1% |
| Contributions | 10/11 | €318,543 | €318,543 | = | 0.0% |
| Capital | 10 | €318,543 | €318,543 | = | 0.0% |
| Issued capital | 100 | €318,543 | €318,543 | = | 0.0% |
| Reserves | 13 | €140,112 | €149,748 | +€9,636 | +6.9% |
| Non-distributable reserves | 130/1 | €13,700 | €14,700 | +€1,000 | +7.3% |
| Legal reserve | 130 | €13,700 | €14,700 | +€1,000 | +7.3% |
| Distributable reserves | 133 | €126,412 | €135,048 | +€8,636 | +6.8% |
| Amounts payable | 17/49 | €10,487 | €8,582 | -€1,905 | -18.2% |
| Amounts payable within one year | 42/48 | €10,487 | €8,582 | -€1,905 | -18.2% |
| Trade debts | 44 | - | €644 | +€644 | |
| Suppliers | 440/4 | - | €644 | +€644 | |
| Taxes, remuneration and social security | 45 | €10,487 | €7,939 | -€2,548 | -24.3% |
| Taxes | 450/3 | €10,487 | €7,939 | -€2,548 | -24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,463 | €6,463 | = | 0.0% |
| Other operating charges | 640/8 | €4,776 | €4,926 | +€150 | +3.1% |
| Gross operating margin | 9900 | €30,264 | €24,171 | -€6,093 | -20.1% |
| Operating profit (loss) | 9901 | €19,025 | €12,782 | -€6,243 | -32.8% |
| Financial income | 75/76B | €413 | €1,790 | +€1,377 | +334% |
| Recurring financial income | 75 | €413 | €1,790 | +€1,377 | +334% |
| Financial charges | 65/66B | €1,467 | €1,468 | +€1 | +0.1% |
| Recurring financial charges | 65 | €227 | €228 | +€1 | +0.5% |
| Non-recurring financial charges | 66B | €1,240 | €1,240 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €17,971 | €13,104 | -€4,867 | -27.1% |
| Income taxes | 67/77 | €4,897 | €3,468 | -€1,429 | -29.2% |
| Profit (loss) for the period | 9904 | €13,074 | €9,636 | -€3,438 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,074 | €9,636 | -€3,438 | -26.3% |
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 28 October 2026 via checked.be.