RCM: 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.
RCM
Largest movements
- Cash -€161,775
down €161,775 (-75.9%), from €213,272 to €51,497
mainly Current investments (-€140,000) and Contributions, distributions and other (-€100,362)
- Current investments +€140,000
up €140,000 (+127.3%), from €110,000 to €250,000
- Tangible fixed assets -€12,895
down €12,895 (-96.8%), from €13,319 to €424
- Receivables within one year +€12,620
new in 2025: €12,620
- Other debts +€88,339
up €88,339 (+31061.4%), from €284 to €88,623
- Reserves -€51,300
down €51,300 (-25.2%), from €203,424 to €152,124
- Tax, wage and social debts -€29,636
down €29,636 (-29.6%), from €100,139 to €70,503
- Debts after one year -€28,000
no longer reported in 2025 (was €28,000)
- Gross operating margin -€137,364
down €137,364 (-69.8%), from €196,774 to €59,410
- Taxes -€40,608
down €40,608 (-71.8%), from €56,524 to €15,916
- Depreciation -€12,156
down €12,156 (-97.2%), from €12,506 to €350
- Financial income +€4,043
up €4,043 (+162.0%), from €2,496 to €6,539
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 | €336,591 | €314,541 | -€22,050 | -6.6% |
| Fixed assets | 21/28 | €13,319 | €424 | -€12,895 | -96.8% |
| Tangible fixed assets | 22/27 | €13,319 | €424 | -€12,895 | -96.8% |
| Furniture and vehicles | 24 | €13,319 | €424 | -€12,895 | -96.8% |
| Current assets | 29/58 | €323,272 | €314,117 | -€9,155 | -2.8% |
| Amounts receivable within one year | 40/41 | - | €12,620 | +€12,620 | |
| Trade receivables | 40 | - | €12,620 | +€12,620 | |
| Current investments | 50/53 | €110,000 | €250,000 | +€140,000 | +127.3% |
| Cash at bank and in hand | 54/58 | €213,272 | €51,497 | -€161,775 | -75.9% |
| Total equity and liabilities | 10/49 | €336,591 | €314,541 | -€22,050 | -6.6% |
| Equity | 10/15 | €206,634 | €155,124 | -€51,510 | -24.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €203,424 | €152,124 | -€51,300 | -25.2% |
| Distributable reserves | 133 | €203,424 | €152,124 | -€51,300 | -25.2% |
| Profit (loss) carried forward | 14 | €210 | - | -€210 | |
| Amounts payable | 17/49 | €129,957 | €159,417 | +€29,460 | +22.7% |
| Amounts payable after more than one year | 17 | €28,000 | - | -€28,000 | |
| Financial debts | 170/4 | €28,000 | - | -€28,000 | |
| Amounts payable within one year | 42/48 | €101,957 | €159,417 | +€57,460 | +56.4% |
| Trade debts | 44 | €1,533 | €291 | -€1,242 | -81.0% |
| Suppliers | 440/4 | €1,533 | €291 | -€1,242 | -81.0% |
| Taxes, remuneration and social security | 45 | €100,139 | €70,503 | -€29,636 | -29.6% |
| Taxes | 450/3 | €100,139 | €70,503 | -€29,636 | -29.6% |
| Other amounts payable | 47/48 | €284 | €88,623 | +€88,339 | +31061.4% |
| Non-recurring operating income | 76A | - | €39,555 | +€39,555 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,506 | €350 | -€12,156 | -97.2% |
| Other operating charges | 640/8 | €848 | €734 | -€113 | -13.4% |
| Gross operating margin | 9900 | €196,774 | €59,410 | -€137,364 | -69.8% |
| Operating profit (loss) | 9901 | €183,420 | €58,326 | -€125,095 | -68.2% |
| Financial income | 75/76B | €2,496 | €6,539 | +€4,043 | +162.0% |
| Recurring financial income | 75 | €2,496 | €6,539 | +€4,043 | +162.0% |
| Financial charges | 65/66B | €68 | €97 | +€30 | +43.5% |
| Recurring financial charges | 65 | €68 | €97 | +€30 | +43.5% |
| Profit (loss) for the period before taxes | 9903 | €185,848 | €64,767 | -€121,081 | -65.2% |
| Income taxes | 67/77 | €56,524 | €15,916 | -€40,608 | -71.8% |
| Profit (loss) for the period | 9904 | €129,325 | €48,851 | -€80,473 | -62.2% |
| Profit (loss) for the period to be appropriated | 9905 | €129,325 | €48,851 | -€80,473 | -62.2% |
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 12 October 2026 via checked.be.