RCADM: 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.
RCADM
Largest movements
- Cash +€149,355
up €149,355 (+74.1%), from €201,674 to €351,029
mainly Net result for the year (+€158,445) and Tax, wage and social debts (+€53,363)
- Receivables within one year +€6,998
up €6,998 (+93.7%), from €7,468 to €14,466
of which Trade receivables: +€7,586
- Tangible fixed assets +€4,643
up €4,643 (+245.8%), from €1,889 to €6,532
- Profit (loss) carried forward +€158,445
up €158,445 (+178.3%), from €88,842 to €247,287
- Tax, wage and social debts +€53,363
up €53,363 (+101.0%), from €52,831 to €106,194
- Other debts -€50,000
no longer reported in 2025 (was €50,000)
- Gross operating margin +€26,046
up €26,046 (+14.2%), from €183,180 to €209,226
- Taxes +€5,889
up €5,889 (+13.8%), from €42,731 to €48,619
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 | €212,140 | €373,194 | +€161,054 | +75.9% |
| Fixed assets | 21/28 | €1,889 | €6,532 | +€4,643 | +245.8% |
| Tangible fixed assets | 22/27 | €1,889 | €6,532 | +€4,643 | +245.8% |
| Furniture and vehicles | 24 | €1,889 | €6,532 | +€4,643 | +245.8% |
| Current assets | 29/58 | €210,251 | €366,663 | +€156,412 | +74.4% |
| Amounts receivable within one year | 40/41 | €7,468 | €14,466 | +€6,998 | +93.7% |
| Trade receivables | 40 | €4,411 | €11,997 | +€7,586 | +172.0% |
| Other amounts receivable | 41 | €3,057 | €2,469 | -€588 | -19.2% |
| Cash at bank and in hand | 54/58 | €201,674 | €351,029 | +€149,355 | +74.1% |
| Deferred charges and accrued income | 490/1 | €1,110 | €1,168 | +€58 | +5.2% |
| Total equity and liabilities | 10/49 | €212,140 | €373,194 | +€161,054 | +75.9% |
| Equity | 10/15 | €98,842 | €257,287 | +€158,445 | +160.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,842 | €247,287 | +€158,445 | +178.3% |
| Amounts payable | 17/49 | €113,298 | €115,908 | +€2,609 | +2.3% |
| Amounts payable within one year | 42/48 | €113,298 | €115,908 | +€2,609 | +2.3% |
| Trade debts | 44 | €10,467 | €9,713 | -€754 | -7.2% |
| Suppliers | 440/4 | €10,467 | €9,713 | -€754 | -7.2% |
| Taxes, remuneration and social security | 45 | €52,831 | €106,194 | +€53,363 | +101.0% |
| Taxes | 450/3 | €52,831 | €106,194 | +€53,363 | +101.0% |
| Other amounts payable | 47/48 | €50,000 | - | -€50,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €477 | €1,337 | +€860 | +180.2% |
| Gross operating margin | 9900 | €183,180 | €209,226 | +€26,046 | +14.2% |
| Operating profit (loss) | 9901 | €182,703 | €207,890 | +€25,187 | +13.8% |
| Financial income | 75/76B | €93 | €150 | +€57 | +61.6% |
| Recurring financial income | 75 | €93 | €150 | +€57 | +61.6% |
| Financial charges | 65/66B | €1,223 | €975 | -€248 | -20.3% |
| Recurring financial charges | 65 | €1,223 | €975 | -€248 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €181,573 | €207,065 | +€25,492 | +14.0% |
| Income taxes | 67/77 | €42,731 | €48,619 | +€5,889 | +13.8% |
| Profit (loss) for the period | 9904 | €138,842 | €158,445 | +€19,603 | +14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €138,842 | €158,445 | +€19,603 | +14.1% |
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 3 October 2026 via checked.be.