R&Z GROUP: 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&Z GROUP
Largest movements
- Tangible fixed assets -€8,972
down €8,972 (-54.6%), from €16,439 to €7,467
of which Furniture and vehicles: -€8,778
- Cash +€5,601
up €5,601 (+57.7%), from €9,713 to €15,314
mainly Depreciation (+€8,972) and Receivables within one year (+€4,186)
- Receivables within one year -€4,186
down €4,186 (-47.1%), from €8,885 to €4,699
of which Trade receivables: -€4,104
- Stocks and contracts -€675
down €675 (-52.3%), from €1,290 to €615
- Deferred charges and accrued income +€629
up €629 (+187%), from €337 to €966
- Trade debts -€3,612
down €3,612 (-50.7%), from €7,118 to €3,506
- Debts after one year -€3,100
down €3,100 (-12.4%), from €25,000 to €21,900
of which Other amounts payable: -€3,100
- Tax, wage and social debts -€1,769
down €1,769 (-49.2%), from €3,592 to €1,823
of which Remuneration and social security: -€1,116
- Profit (loss) carried forward +€1,733
up €1,733 (+17.6%), from -€9,822 to -€8,089
- Advances received -€653
no longer reported in 2025 (was €653)
- Staff costs -€15,830
down €15,830 (-97.8%), from €16,183 to €353
- Gross operating margin -€4,360
down €4,360 (-20.4%), from €21,350 to €16,990
- Depreciation -€1,797
down €1,797 (-16.7%), from €10,769 to €8,972
- Write-downs +€1,130
new in 2025: €1,130
- Other operating charges -€897
down €897 (-28.8%), from €3,118 to €2,221
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 | €38,509 | €30,906 | -€7,603 | -19.7% |
| Fixed assets | 21/28 | €18,284 | €9,312 | -€8,972 | -49.1% |
| Tangible fixed assets | 22/27 | €16,439 | €7,467 | -€8,972 | -54.6% |
| Plant, machinery and equipment | 23 | €194 | - | -€194 | |
| Furniture and vehicles | 24 | €16,245 | €7,467 | -€8,778 | -54.0% |
| Financial fixed assets | 28 | €1,845 | €1,845 | = | 0.0% |
| Current assets | 29/58 | €20,225 | €21,594 | +€1,369 | +6.8% |
| Stocks and contracts in progress | 3 | €1,290 | €615 | -€675 | -52.3% |
| Stocks | 30/36 | €1,290 | €615 | -€675 | -52.3% |
| Amounts receivable within one year | 40/41 | €8,885 | €4,699 | -€4,186 | -47.1% |
| Trade receivables | 40 | €8,796 | €4,692 | -€4,104 | -46.7% |
| Other amounts receivable | 41 | €89 | €7 | -€82 | -92.1% |
| Cash at bank and in hand | 54/58 | €9,713 | €15,314 | +€5,601 | +57.7% |
| Deferred charges and accrued income | 490/1 | €337 | €966 | +€629 | +187% |
| Total equity and liabilities | 10/49 | €38,509 | €30,906 | -€7,603 | -19.7% |
| Equity | 10/15 | €898 | €2,631 | +€1,733 | +193% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €5,720 | €5,720 | = | 0.0% |
| Distributable reserves | 133 | €5,720 | €5,720 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,822 | -€8,089 | +€1,733 | +17.6% |
| Amounts payable | 17/49 | €37,611 | €28,275 | -€9,336 | -24.8% |
| Amounts payable after more than one year | 17 | €25,000 | €21,900 | -€3,100 | -12.4% |
| Trade debts | 175 | €10,000 | €10,000 | = | 0.0% |
| Other amounts payable | 178/9 | €15,000 | €11,900 | -€3,100 | -20.7% |
| Amounts payable within one year | 42/48 | €11,611 | €5,375 | -€6,236 | -53.7% |
| Trade debts | 44 | €7,118 | €3,506 | -€3,612 | -50.7% |
| Suppliers | 440/4 | €7,118 | €3,506 | -€3,612 | -50.7% |
| Advances received on contracts in progress | 46 | €653 | - | -€653 | |
| Taxes, remuneration and social security | 45 | €3,592 | €1,823 | -€1,769 | -49.2% |
| Taxes | 450/3 | €2,476 | €1,823 | -€653 | -26.4% |
| Remuneration and social security | 454/9 | €1,116 | - | -€1,116 | |
| Other amounts payable | 47/48 | €248 | €46 | -€202 | -81.5% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €16,183 | €353 | -€15,830 | -97.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,769 | €8,972 | -€1,797 | -16.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,130 | +€1,130 | |
| Other operating charges | 640/8 | €3,118 | €2,221 | -€897 | -28.8% |
| Non-recurring operating charges | 66A | €472 | €879 | +€407 | +86.2% |
| Gross operating margin | 9900 | €21,350 | €16,990 | -€4,360 | -20.4% |
| Operating profit (loss) | 9901 | -€9,192 | €3,435 | +€12,627 | |
| Financial income | 75/76B | €177 | €1 | -€176 | -99.4% |
| Recurring financial income | 75 | €177 | €1 | -€176 | -99.4% |
| Financial charges | 65/66B | €667 | €823 | +€156 | +23.4% |
| Recurring financial charges | 65 | €667 | €823 | +€156 | +23.4% |
| Profit (loss) for the period before taxes | 9903 | -€9,682 | €2,613 | +€12,295 | |
| Income taxes | 67/77 | €140 | €880 | +€740 | +529% |
| Profit (loss) for the period | 9904 | -€9,822 | €1,733 | +€11,555 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,822 | €1,733 | +€11,555 |
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.