R.V.O.: 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.O.
Largest movements
- Cash -€96,239
down €96,239 (-41.5%), from €231,986 to €135,747
mainly Contributions, distributions and other (-€71,600) and Other debts (-€16,334)
- Reserves -€77,954
down €77,954 (-50.6%), from €154,173 to €76,218
of which Distributable reserves: -€77,954
- Other debts -€16,334
down €16,334 (-15.3%), from €106,900 to €90,565
- Trade debts +€3,750
new in 2026: €3,750
- Gross operating margin -€18,951
down €18,951, from €18,115 to -€836
- Taxes -€3,085
down €3,085 (-95.6%), from €3,227 to €142
- Financial income -€1,591
down €1,591 (-78.5%), from €2,026 to €435
- Other operating charges +€367
up €367 (+7.1%), from €5,190 to €5,557
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €326,934 | €234,832 | -€92,102 | -28.2% |
| Fixed assets | 21/28 | €39,988 | €39,810 | -€178 | -0.4% |
| Tangible fixed assets | 22/27 | €39,988 | €39,810 | -€178 | -0.4% |
| Land and buildings | 22 | €39,676 | €39,676 | = | 0.0% |
| Plant, machinery and equipment | 23 | €312 | €134 | -€178 | -57.0% |
| Current assets | 29/58 | €286,946 | €195,022 | -€91,924 | -32.0% |
| Stocks and contracts in progress | 3 | €50,000 | €50,000 | = | 0.0% |
| Stocks | 30/36 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,698 | €4,082 | +€2,384 | +140% |
| Trade receivables | 40 | €37 | €3,392 | +€3,355 | +9,057% |
| Other amounts receivable | 41 | €1,661 | €691 | -€970 | -58.4% |
| Cash at bank and in hand | 54/58 | €231,986 | €135,747 | -€96,239 | -41.5% |
| Deferred charges and accrued income | 490/1 | €3,263 | €5,193 | +€1,930 | +59.2% |
| Total equity and liabilities | 10/49 | €326,934 | €234,832 | -€92,102 | -28.2% |
| Equity | 10/15 | €216,173 | €138,218 | -€77,954 | -36.1% |
| 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 | €154,173 | €76,218 | -€77,954 | -50.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,600 | €9,600 | = | 0.0% |
| Distributable reserves | 133 | €138,373 | €60,418 | -€77,954 | -56.3% |
| Amounts payable | 17/49 | €110,762 | €96,614 | -€14,148 | -12.8% |
| Amounts payable within one year | 42/48 | €110,762 | €96,614 | -€14,148 | -12.8% |
| Trade debts | 44 | - | €3,750 | +€3,750 | |
| Suppliers | 440/4 | - | €3,750 | +€3,750 | |
| Taxes, remuneration and social security | 45 | €3,862 | €2,299 | -€1,563 | -40.5% |
| Taxes | 450/3 | €3,862 | €2,299 | -€1,563 | -40.5% |
| Other amounts payable | 47/48 | €106,900 | €90,565 | -€16,334 | -15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €178 | €178 | = | 0.0% |
| Other operating charges | 640/8 | €5,190 | €5,557 | +€367 | +7.1% |
| Gross operating margin | 9900 | €18,115 | -€836 | -€18,951 | |
| Operating profit (loss) | 9901 | €12,747 | -€6,571 | -€19,318 | |
| Financial income | 75/76B | €2,026 | €435 | -€1,591 | -78.5% |
| Recurring financial income | 75 | €2,026 | €435 | -€1,591 | -78.5% |
| Financial charges | 65/66B | €66 | €76 | +€10 | +14.7% |
| Recurring financial charges | 65 | €66 | €76 | +€10 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | €14,706 | -€6,213 | -€20,919 | |
| Income taxes | 67/77 | €3,227 | €142 | -€3,085 | -95.6% |
| Profit (loss) for the period | 9904 | €11,479 | -€6,354 | -€17,834 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,479 | -€6,354 | -€17,834 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.