RBSE: 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.
RBSE
Largest movements
- Cash -€107,746
down €107,746 (-82.4%), from €130,720 to €22,973
mainly Other debts (-€56,934) and Contributions, distributions and other (-€32,250)
- Tangible fixed assets +€18,481
up €18,481 (+4876.8%), from €379 to €18,860
of which Furniture and vehicles: +€18,481
- Receivables within one year +€16,964
up €16,964 (+24.6%), from €68,938 to €85,902
of which Other amounts receivable: +€21,688
- Other debts -€56,934
no longer reported in 2025 (was €56,934)
- Reserves -€12,350
down €12,350 (-10.1%), from €122,750 to €110,400
- Tax, wage and social debts -€4,291
down €4,291 (-86.3%), from €4,970 to €679
- Gross operating margin -€8,763
down €8,763 (-24.1%), from €36,373 to €27,611
- Taxes -€3,579
down €3,579 (-28.5%), from €12,574 to €8,995
- Depreciation +€1,139
up €1,139 (+299.7%), from €380 to €1,519
- Financial income +€844
up €844 (+24.3%), from €3,465 to €4,309
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 | €201,703 | €129,537 | -€72,166 | -35.8% |
| Fixed assets | 21/28 | €379 | €18,860 | +€18,481 | +4876.8% |
| Tangible fixed assets | 22/27 | €379 | €18,860 | +€18,481 | +4876.8% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €379 | €18,860 | +€18,481 | +4876.8% |
| Current assets | 29/58 | €201,324 | €110,677 | -€90,648 | -45.0% |
| Amounts receivable within one year | 40/41 | €68,938 | €85,902 | +€16,964 | +24.6% |
| Trade receivables | 40 | €9,334 | €4,610 | -€4,724 | -50.6% |
| Other amounts receivable | 41 | €59,604 | €81,292 | +€21,688 | +36.4% |
| Cash at bank and in hand | 54/58 | €130,720 | €22,973 | -€107,746 | -82.4% |
| Deferred charges and accrued income | 490/1 | €1,667 | €1,801 | +€135 | +8.1% |
| Total equity and liabilities | 10/49 | €201,703 | €129,537 | -€72,166 | -35.8% |
| Equity | 10/15 | €137,087 | €124,791 | -€12,295 | -9.0% |
| Contributions | 10/11 | €9,860 | €9,860 | = | 0.0% |
| Reserves | 13 | €122,750 | €110,400 | -€12,350 | -10.1% |
| Distributable reserves | 133 | €122,750 | €110,400 | -€12,350 | -10.1% |
| Profit (loss) carried forward | 14 | €4,477 | €4,531 | +€55 | +1.2% |
| Amounts payable | 17/49 | €64,617 | €4,746 | -€59,871 | -92.7% |
| Amounts payable within one year | 42/48 | €64,617 | €4,746 | -€59,871 | -92.7% |
| Trade debts | 44 | €2,713 | €4,067 | +€1,354 | +49.9% |
| Suppliers | 440/4 | €2,713 | €4,067 | +€1,354 | +49.9% |
| Taxes, remuneration and social security | 45 | €4,970 | €679 | -€4,291 | -86.3% |
| Taxes | 450/3 | €4,970 | €679 | -€4,291 | -86.3% |
| Other amounts payable | 47/48 | €56,934 | - | -€56,934 | |
| Non-recurring operating income | 76A | €1,200 | €10,860 | +€9,660 | +805.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €380 | €1,519 | +€1,139 | +299.7% |
| Other operating charges | 640/8 | €785 | €1,051 | +€266 | +33.9% |
| Gross operating margin | 9900 | €36,373 | €27,611 | -€8,763 | -24.1% |
| Operating profit (loss) | 9901 | €35,208 | €25,041 | -€10,167 | -28.9% |
| Financial income | 75/76B | €3,465 | €4,309 | +€844 | +24.3% |
| Recurring financial income | 75 | €3,465 | €4,309 | +€844 | +24.3% |
| Financial charges | 65/66B | €397 | €399 | +€2 | +0.5% |
| Recurring financial charges | 65 | €397 | €399 | +€2 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €38,275 | €28,950 | -€9,326 | -24.4% |
| Income taxes | 67/77 | €12,574 | €8,995 | -€3,579 | -28.5% |
| Profit (loss) for the period | 9904 | €25,702 | €19,955 | -€5,747 | -22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,702 | €19,955 | -€5,747 | -22.4% |
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 2 October 2026 via checked.be.