RBD I: 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.
RBD I
Largest movements
- Stocks and contracts +€674,816
up €674,816 (+45.3%), from €1.5m to €2.2m
- Receivables within one year -€58,281
down €58,281 (-41.8%), from €139,400 to €81,118
- Cash +€33,986
up €33,986 (+85.4%), from €39,776 to €73,762
mainly Other debts (+€521,667) and Short-term financial debts (+€123,531)
- Other debts +€521,667
up €521,667 (+522%), from €100,000 to €621,667
- Short-term financial debts +€123,531
new in 2025: €123,531
- Profit (loss) carried forward -€23,410
down €23,410 (-1.5%), from -€1.6m to -€1.6m
- Gross operating margin -€163,875
down €163,875 (-88.7%), from €184,757 to €20,882
- Financial income -€30,902
no longer reported in 2025 (was €30,902)
- Financial charges +€19,161
up €19,161 (+3,101%), from €618 to €19,779
- Other operating charges +€17,377
up €17,377 (+244%), from €7,136 to €24,513
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 | €1,668,495 | €2,325,085 | +€656,590 | +39.4% |
| Current assets | 29/58 | €1,668,495 | €2,325,085 | +€656,590 | +39.4% |
| Stocks and contracts in progress | 3 | €1,489,319 | €2,164,135 | +€674,816 | +45.3% |
| Stocks | 30/36 | €1,489,319 | €2,164,135 | +€674,816 | +45.3% |
| Amounts receivable within one year | 40/41 | €139,400 | €81,118 | -€58,281 | -41.8% |
| Other amounts receivable | 41 | €139,400 | €81,118 | -€58,281 | -41.8% |
| Cash at bank and in hand | 54/58 | €39,776 | €73,762 | +€33,986 | +85.4% |
| Deferred charges and accrued income | 490/1 | - | €6,069 | +€6,069 | |
| Total equity and liabilities | 10/49 | €1,668,495 | €2,325,085 | +€656,590 | +39.4% |
| Equity | 10/15 | €1,506,707 | €1,483,297 | -€23,410 | -1.6% |
| Contributions | 10/11 | €3,062,000 | €3,062,000 | = | 0.0% |
| Capital | 10 | €3,062,000 | €3,062,000 | = | 0.0% |
| Issued capital | 100 | €3,062,000 | €3,062,000 | = | 0.0% |
| Reserves | 13 | €18,394 | €18,394 | = | 0.0% |
| Non-distributable reserves | 130/1 | €18,394 | €18,394 | = | 0.0% |
| Legal reserve | 130 | €18,394 | €18,394 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,573,686 | -€1,597,096 | -€23,410 | -1.5% |
| Amounts payable | 17/49 | €161,788 | €841,788 | +€680,000 | +420% |
| Amounts payable within one year | 42/48 | €161,170 | €826,451 | +€665,281 | +413% |
| Financial debts | 43 | - | €123,531 | +€123,531 | |
| Credit institutions | 430/8 | - | €123,531 | +€123,531 | |
| Trade debts | 44 | €61,170 | €81,253 | +€20,084 | +32.8% |
| Suppliers | 440/4 | €61,170 | €81,253 | +€20,084 | +32.8% |
| Other amounts payable | 47/48 | €100,000 | €621,667 | +€521,667 | +522% |
| Accrued charges and deferred income | 492/3 | €618 | €15,337 | +€14,719 | +2,382% |
| Other operating charges | 640/8 | €7,136 | €24,513 | +€17,377 | +244% |
| Gross operating margin | 9900 | €184,757 | €20,882 | -€163,875 | -88.7% |
| Operating profit (loss) | 9901 | €177,621 | -€3,631 | -€181,252 | |
| Financial income | 75/76B | €30,902 | - | -€30,902 | |
| Recurring financial income | 75 | €30,902 | - | -€30,902 | |
| Financial charges | 65/66B | €618 | €19,779 | +€19,161 | +3,101% |
| Recurring financial charges | 65 | €618 | €19,779 | +€19,161 | +3,101% |
| Profit (loss) for the period before taxes | 9903 | €207,905 | -€23,410 | -€231,315 | |
| Profit (loss) for the period | 9904 | €207,905 | -€23,410 | -€231,315 | |
| Profit (loss) for the period to be appropriated | 9905 | €207,905 | -€23,410 | -€231,315 |
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 13 October 2026 via checked.be.