RAD BS: 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.
RAD BS
Largest movements
- Cash +€77,228
up €77,228 (+43.7%), from €176,703 to €253,931
mainly Net result for the year (+€459,646) and Tax, wage and social debts (+€28,964)
- Receivables within one year -€20,425
down €20,425 (-7.9%), from €258,279 to €237,854
- Tangible fixed assets -€8,830
down €8,830 (-10.1%), from €87,252 to €78,422
of which Leasing and similar rights: -€14,753
- Reserves +€459,646
up €459,646, from €0 to €459,646
- Other debts -€427,003
down €427,003 (-98.3%), from €434,496 to €7,493
- Tax, wage and social debts +€28,964
up €28,964 (+145.6%), from €19,891 to €48,855
- Debts after one year -€14,539
down €14,539 (-28.1%), from €51,694 to €37,155
- Gross operating margin +€54,964
up €54,964 (+9.5%), from €581,565 to €636,529
- Taxes +€11,670
up €11,670 (+8.5%), from €136,824 to €148,494
- Depreciation +€7,275
up €7,275 (+43.4%), from €16,761 to €24,036
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 | €525,654 | €574,416 | +€48,762 | +9.3% |
| Fixed assets | 21/28 | €87,497 | €78,643 | -€8,854 | -10.1% |
| Tangible fixed assets | 22/27 | €87,252 | €78,422 | -€8,830 | -10.1% |
| Land and buildings | 22 | €4,480 | €0 | -€4,480 | -100.0% |
| Plant, machinery and equipment | 23 | €12,868 | €8,791 | -€4,077 | -31.7% |
| Furniture and vehicles | 24 | €3,735 | €886 | -€2,849 | -76.3% |
| Leasing and similar rights | 25 | €66,170 | €51,417 | -€14,753 | -22.3% |
| Other tangible fixed assets | 26 | - | €17,328 | +€17,328 | |
| Financial fixed assets | 28 | €245 | €221 | -€23 | -9.6% |
| Current assets | 29/58 | €438,157 | €495,773 | +€57,616 | +13.1% |
| Amounts receivable within one year | 40/41 | €258,279 | €237,854 | -€20,425 | -7.9% |
| Other amounts receivable | 41 | €258,279 | €237,854 | -€20,425 | -7.9% |
| Cash at bank and in hand | 54/58 | €176,703 | €253,931 | +€77,228 | +43.7% |
| Deferred charges and accrued income | 490/1 | €3,175 | €3,988 | +€813 | +25.6% |
| Total equity and liabilities | 10/49 | €525,654 | €574,416 | +€48,762 | +9.3% |
| Equity | 10/15 | €3,000 | €462,646 | +€459,646 | +15321.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €0 | €459,646 | +€459,646 | |
| Distributable reserves | 133 | €0 | €459,646 | +€459,646 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €522,654 | €111,770 | -€410,883 | -78.6% |
| Amounts payable after more than one year | 17 | €51,694 | €37,155 | -€14,539 | -28.1% |
| Financial debts | 170/4 | €51,694 | €37,155 | -€14,539 | -28.1% |
| Amounts payable within one year | 42/48 | €470,960 | €74,615 | -€396,345 | -84.2% |
| Current portion of amounts payable after more than one year | 42 | €14,072 | €14,539 | +€466 | +3.3% |
| Trade debts | 44 | €2,501 | €3,729 | +€1,228 | +49.1% |
| Suppliers | 440/4 | €2,501 | €3,729 | +€1,228 | +49.1% |
| Taxes, remuneration and social security | 45 | €19,891 | €48,855 | +€28,964 | +145.6% |
| Taxes | 450/3 | €19,891 | €48,855 | +€28,964 | +145.6% |
| Other amounts payable | 47/48 | €434,496 | €7,493 | -€427,003 | -98.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,761 | €24,036 | +€7,275 | +43.4% |
| Other operating charges | 640/8 | €577 | €1,827 | +€1,250 | +216.6% |
| Gross operating margin | 9900 | €581,565 | €636,529 | +€54,964 | +9.5% |
| Operating profit (loss) | 9901 | €564,226 | €610,666 | +€46,439 | +8.2% |
| Financial income | 75/76B | €700 | €0 | -€700 | -100.0% |
| Recurring financial income | 75 | €700 | €0 | -€700 | -100.0% |
| Financial charges | 65/66B | €1,565 | €2,527 | +€962 | +61.4% |
| Recurring financial charges | 65 | €1,565 | €2,527 | +€962 | +61.4% |
| Profit (loss) for the period before taxes | 9903 | €563,361 | €608,139 | +€44,778 | +7.9% |
| Income taxes | 67/77 | €136,824 | €148,494 | +€11,670 | +8.5% |
| Profit (loss) for the period | 9904 | €426,538 | €459,646 | +€33,108 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €426,538 | €459,646 | +€33,108 | +7.8% |
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.