RB Solar: 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.
RB Solar
Largest movements
- Cash +€63,672
up €63,672 (+75.2%), from €84,701 to €148,373
mainly Receivables within one year (+€60,362) and Net result for the year (+€40,708)
- Receivables within one year -€60,362
down €60,362 (-61.9%), from €97,497 to €37,135
of which Trade receivables: -€71,317
- Tangible fixed assets +€28,178
up €28,178 (+60.9%), from €46,269 to €74,447
of which Plant, machinery and equipment: +€49,957
- Deferred charges and accrued income +€3,143
up €3,143 (+37.4%), from €8,401 to €11,544
- Trade debts -€53,137
down €53,137 (-82.1%), from €64,725 to €11,588
- Reserves +€40,708
up €40,708 (+116%), from €35,026 to €75,734
- Debts after one year +€20,057
up €20,057 (+23.3%), from €85,941 to €105,997
of which Financial debts: +€20,057
- Current portion of long-term debt +€16,421
up €16,421 (+210%), from €7,803 to €24,224
- Short-term financial debts +€5,046
new in 2025: €5,046
- Gross operating margin +€121,208
up €121,208 (+125%), from €96,697 to €217,904
- Staff costs +€80,647
up €80,647 (+160%), from €50,534 to €131,181
- Depreciation +€11,660
up €11,660 (+70.5%), from €16,532 to €28,192
- Taxes +€6,314
up €6,314 (+85.5%), from €7,388 to €13,702
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 | €237,368 | €272,000 | +€34,632 | +14.6% |
| Fixed assets | 21/28 | €46,769 | €74,947 | +€28,178 | +60.2% |
| Tangible fixed assets | 22/27 | €46,269 | €74,447 | +€28,178 | +60.9% |
| Plant, machinery and equipment | 23 | €6,736 | €56,693 | +€49,957 | +742% |
| Furniture and vehicles | 24 | €39,533 | €17,754 | -€21,779 | -55.1% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €190,599 | €197,053 | +€6,453 | +3.4% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €97,497 | €37,135 | -€60,362 | -61.9% |
| Trade receivables | 40 | €91,674 | €20,357 | -€71,317 | -77.8% |
| Other amounts receivable | 41 | €5,823 | €16,778 | +€10,955 | +188% |
| Cash at bank and in hand | 54/58 | €84,701 | €148,373 | +€63,672 | +75.2% |
| Deferred charges and accrued income | 490/1 | €8,401 | €11,544 | +€3,143 | +37.4% |
| Total equity and liabilities | 10/49 | €237,368 | €272,000 | +€34,632 | +14.6% |
| Equity | 10/15 | €53,776 | €94,484 | +€40,708 | +75.7% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €35,026 | €75,734 | +€40,708 | +116% |
| Distributable reserves | 133 | €35,026 | €75,734 | +€40,708 | +116% |
| Amounts payable | 17/49 | €183,592 | €177,516 | -€6,076 | -3.3% |
| Amounts payable after more than one year | 17 | €85,941 | €105,997 | +€20,057 | +23.3% |
| Financial debts | 170/4 | €15,941 | €35,997 | +€20,057 | +126% |
| Other amounts payable | 178/9 | €70,000 | €70,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €95,796 | €68,023 | -€27,773 | -29.0% |
| Current portion of amounts payable after more than one year | 42 | €7,803 | €24,224 | +€16,421 | +210% |
| Financial debts | 43 | - | €5,046 | +€5,046 | |
| Credit institutions | 430/8 | - | €5,046 | +€5,046 | |
| Trade debts | 44 | €64,725 | €11,588 | -€53,137 | -82.1% |
| Suppliers | 440/4 | €64,725 | €11,588 | -€53,137 | -82.1% |
| Taxes, remuneration and social security | 45 | €0 | €4,086 | +€4,086 | |
| Taxes | 450/3 | €0 | €705 | +€705 | |
| Remuneration and social security | 454/9 | €0 | €3,381 | +€3,381 | |
| Other amounts payable | 47/48 | €23,268 | €23,078 | -€189 | -0.8% |
| Accrued charges and deferred income | 492/3 | €1,855 | €3,496 | +€1,641 | +88.4% |
| Remuneration, social security and pensions | 62 | €50,534 | €131,181 | +€80,647 | +160% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,532 | €28,192 | +€11,660 | +70.5% |
| Other operating charges | 640/8 | €2,254 | €2,816 | +€562 | +24.9% |
| Gross operating margin | 9900 | €96,697 | €217,904 | +€121,208 | +125% |
| Operating profit (loss) | 9901 | €27,376 | €55,715 | +€28,339 | +104% |
| Financial income | 75/76B | €1,735 | €2,350 | +€615 | +35.4% |
| Recurring financial income | 75 | €1,735 | €2,350 | +€615 | +35.4% |
| Financial charges | 65/66B | €2,320 | €3,656 | +€1,336 | +57.6% |
| Recurring financial charges | 65 | €2,320 | €3,656 | +€1,336 | +57.6% |
| Profit (loss) for the period before taxes | 9903 | €26,792 | €54,410 | +€27,618 | +103% |
| Income taxes | 67/77 | €7,388 | €13,702 | +€6,314 | +85.5% |
| Profit (loss) for the period | 9904 | €19,404 | €40,708 | +€21,304 | +110% |
| Profit (loss) for the period to be appropriated | 9905 | €19,404 | €40,708 | +€21,304 | +110% |
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 22 October 2026 via checked.be.