RC PROJECT: 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.
RC PROJECT
Largest movements
- Tangible fixed assets -€10,389
down €10,389 (-11.1%), from €93,420 to €83,031
of which Furniture and vehicles: -€6,560
- Receivables within one year +€8,082
up €8,082 (+41.6%), from €19,425 to €27,507
of which Trade receivables: +€9,640
- Cash +€3,347
up €3,347 (+878.5%), from €381 to €3,728
mainly Depreciation (+€18,139) and Other debts (+€10,256)
- Deferred charges and accrued income +€1,643
up €1,643 (+111.9%), from €1,468 to €3,111
- Debts after one year -€11,213
down €11,213 (-22.7%), from €49,444 to €38,231
- Other debts +€10,256
up €10,256 (+139.2%), from €7,368 to €17,624
- Tax, wage and social debts +€2,107
up €2,107 (+58.6%), from €3,593 to €5,700
- Reserves +€1,381
up €1,381 (+2.9%), from €47,487 to €48,868
- Depreciation +€12,195
up €12,195 (+205.2%), from €5,944 to €18,139
- Gross operating margin +€10,424
up €10,424 (+63.4%), from €16,433 to €26,857
- Taxes -€1,443
down €1,443 (-39.2%), from €3,684 to €2,241
- Other operating charges +€570
up €570 (+47.5%), from €1,201 to €1,771
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 | €122,066 | €124,497 | +€2,431 | +2.0% |
| Fixed assets | 21/28 | €93,420 | €83,031 | -€10,389 | -11.1% |
| Tangible fixed assets | 22/27 | €93,420 | €83,031 | -€10,389 | -11.1% |
| Plant, machinery and equipment | 23 | €5,563 | €1,734 | -€3,829 | -68.8% |
| Furniture and vehicles | 24 | €87,857 | €81,297 | -€6,560 | -7.5% |
| Current assets | 29/58 | €28,646 | €41,466 | +€12,820 | +44.8% |
| Stocks and contracts in progress | 3 | €7,372 | €7,120 | -€252 | -3.4% |
| Stocks | 30/36 | €7,372 | €7,120 | -€252 | -3.4% |
| Amounts receivable within one year | 40/41 | €19,425 | €27,507 | +€8,082 | +41.6% |
| Trade receivables | 40 | €16,109 | €25,749 | +€9,640 | +59.8% |
| Other amounts receivable | 41 | €3,316 | €1,758 | -€1,558 | -47.0% |
| Cash at bank and in hand | 54/58 | €381 | €3,728 | +€3,347 | +878.5% |
| Deferred charges and accrued income | 490/1 | €1,468 | €3,111 | +€1,643 | +111.9% |
| Total equity and liabilities | 10/49 | €122,066 | €124,497 | +€2,431 | +2.0% |
| Equity | 10/15 | €48,487 | €49,868 | +€1,381 | +2.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €47,487 | €48,868 | +€1,381 | +2.9% |
| Distributable reserves | 133 | €47,487 | €48,868 | +€1,381 | +2.9% |
| Amounts payable | 17/49 | €73,579 | €74,629 | +€1,050 | +1.4% |
| Amounts payable after more than one year | 17 | €49,444 | €38,231 | -€11,213 | -22.7% |
| Financial debts | 170/4 | €49,444 | €38,231 | -€11,213 | -22.7% |
| Amounts payable within one year | 42/48 | €24,135 | €36,398 | +€12,263 | +50.8% |
| Current portion of amounts payable after more than one year | 42 | €11,187 | €11,212 | +€25 | +0.2% |
| Trade debts | 44 | €1,987 | €1,862 | -€125 | -6.3% |
| Suppliers | 440/4 | €1,987 | €1,862 | -€125 | -6.3% |
| Taxes, remuneration and social security | 45 | €3,593 | €5,700 | +€2,107 | +58.6% |
| Taxes | 450/3 | €3,593 | €5,700 | +€2,107 | +58.6% |
| Other amounts payable | 47/48 | €7,368 | €17,624 | +€10,256 | +139.2% |
| Remuneration, social security and pensions | 62 | €519 | €257 | -€262 | -50.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,944 | €18,139 | +€12,195 | +205.2% |
| Other operating charges | 640/8 | €1,201 | €1,771 | +€570 | +47.5% |
| Gross operating margin | 9900 | €16,433 | €26,857 | +€10,424 | +63.4% |
| Operating profit (loss) | 9901 | €8,769 | €6,690 | -€2,079 | -23.7% |
| Financial income | 75/76B | €23 | - | -€23 | |
| Recurring financial income | 75 | €23 | - | -€23 | |
| Financial charges | 65/66B | €1,983 | €2,209 | +€226 | +11.4% |
| Recurring financial charges | 65 | €1,983 | €2,209 | +€226 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | €6,809 | €4,481 | -€2,328 | -34.2% |
| Income taxes | 67/77 | €3,684 | €2,241 | -€1,443 | -39.2% |
| Profit (loss) for the period | 9904 | €3,125 | €2,240 | -€885 | -28.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,125 | €2,240 | -€885 | -28.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.