RADBO: 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.
RADBO
Largest movements
- Tangible fixed assets +€336,516
up €336,516 (+105%), from €321,964 to €658,480
of which Land and buildings: +€338,895
- Cash +€251,921
up €251,921 (+95.1%), from €264,941 to €516,862
mainly Net result for the year (+€468,772) and Depreciation (+€102,747)
- Receivables within one year -€94,895
down €94,895 (-18.4%), from €514,998 to €420,103
of which Other amounts receivable: -€103,296
- Intangible fixed assets -€68,697
down €68,697 (-12.5%), from €549,578 to €480,881
- Receivables after one year -€60,000
no longer reported in 2025 (was €60,000)
- Reserves +€468,772
up €468,772 (+61.5%), from €762,545 to €1.2m
- Other debts -€169,435
down €169,435 (-94.8%), from €178,637 to €9,202
- Debts after one year +€72,769
up €72,769 (+10.5%), from €691,537 to €764,306
of which Financial debts: +€72,624
- Trade debts +€45,889
up €45,889 (+103,053%), from €45 to €45,934
- Tax, wage and social debts -€33,956
down €33,956 (-90.4%), from €37,554 to €3,597
of which Taxes: -€31,381
- Depreciation +€23,585
up €23,585 (+29.8%), from €79,162 to €102,747
- Taxes -€10,342
down €10,342 (-6.4%), from €161,806 to €151,464
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 | €1,740,342 | €2,125,732 | +€385,389 | +22.1% |
| Fixed assets | 21/28 | €871,542 | €1,139,361 | +€267,818 | +30.7% |
| Intangible fixed assets | 21 | €549,578 | €480,881 | -€68,697 | -12.5% |
| Tangible fixed assets | 22/27 | €321,964 | €658,480 | +€336,516 | +105% |
| Land and buildings | 22 | €304,095 | €642,990 | +€338,895 | +111% |
| Plant, machinery and equipment | 23 | €6,231 | €5,452 | -€779 | -12.5% |
| Furniture and vehicles | 24 | €9,969 | €8,824 | -€1,145 | -11.5% |
| Other tangible fixed assets | 26 | €1,669 | €1,213 | -€456 | -27.3% |
| Current assets | 29/58 | €868,800 | €986,371 | +€117,571 | +13.5% |
| Amounts receivable after more than one year | 29 | €60,000 | - | -€60,000 | |
| Other amounts receivable | 291 | €60,000 | - | -€60,000 | |
| Amounts receivable within one year | 40/41 | €514,998 | €420,103 | -€94,895 | -18.4% |
| Trade receivables | 40 | €35,500 | €43,901 | +€8,401 | +23.7% |
| Other amounts receivable | 41 | €479,498 | €376,202 | -€103,296 | -21.5% |
| Current investments | 50/53 | €24,582 | €45,620 | +€21,037 | +85.6% |
| Cash at bank and in hand | 54/58 | €264,941 | €516,862 | +€251,921 | +95.1% |
| Deferred charges and accrued income | 490/1 | €4,278 | €3,786 | -€492 | -11.5% |
| Total equity and liabilities | 10/49 | €1,740,342 | €2,125,732 | +€385,389 | +22.1% |
| Equity | 10/15 | €764,545 | €1,233,317 | +€468,772 | +61.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €762,545 | €1,231,317 | +€468,772 | +61.5% |
| Distributable reserves | 133 | €762,545 | €1,231,317 | +€468,772 | +61.5% |
| Amounts payable | 17/49 | €975,797 | €892,415 | -€83,382 | -8.5% |
| Amounts payable after more than one year | 17 | €691,537 | €764,306 | +€72,769 | +10.5% |
| Financial debts | 170/4 | €690,187 | €762,811 | +€72,624 | +10.5% |
| Other amounts payable | 178/9 | €1,350 | €1,495 | +€145 | +10.7% |
| Amounts payable within one year | 42/48 | €283,998 | €128,109 | -€155,889 | -54.9% |
| Current portion of amounts payable after more than one year | 42 | €67,763 | €69,376 | +€1,613 | +2.4% |
| Trade debts | 44 | €45 | €45,934 | +€45,889 | +103,053% |
| Suppliers | 440/4 | €45 | €45,934 | +€45,889 | +103,053% |
| Taxes, remuneration and social security | 45 | €37,554 | €3,597 | -€33,956 | -90.4% |
| Taxes | 450/3 | €34,979 | €3,597 | -€31,381 | -89.7% |
| Remuneration and social security | 454/9 | €2,575 | - | -€2,575 | |
| Other amounts payable | 47/48 | €178,637 | €9,202 | -€169,435 | -94.8% |
| Accrued charges and deferred income | 492/3 | €263 | - | -€263 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,162 | €102,747 | +€23,585 | +29.8% |
| Other operating charges | 640/8 | €988 | €2,702 | +€1,714 | +174% |
| Gross operating margin | 9900 | €753,080 | €748,778 | -€4,302 | -0.6% |
| Operating profit (loss) | 9901 | €672,930 | €643,329 | -€29,601 | -4.4% |
| Financial income | 75/76B | €2,028 | €2,784 | +€756 | +37.3% |
| Recurring financial income | 75 | €2,028 | €2,784 | +€756 | +37.3% |
| Financial charges | 65/66B | €22,379 | €25,877 | +€3,498 | +15.6% |
| Recurring financial charges | 65 | €22,379 | €25,877 | +€3,498 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | €652,579 | €620,236 | -€32,344 | -5.0% |
| Income taxes | 67/77 | €161,806 | €151,464 | -€10,342 | -6.4% |
| Profit (loss) for the period | 9904 | €490,773 | €468,772 | -€22,001 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €490,773 | €468,772 | -€22,001 | -4.5% |
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 16 October 2026 via checked.be.