RCMD: 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.
RCMD
Largest movements
- Receivables within one year -€107,291
down €107,291 (-52.5%), from €204,454 to €97,162
of which Trade receivables: -€127,849
- Cash +€98,471
up €98,471 (+26.1%), from €376,699 to €475,170
mainly Debts after one year (+€361,316) and Net result for the year (+€355,213)
- Stocks and contracts +€35,189
up €35,189 (+10.4%), from €339,330 to €374,519
- Tangible fixed assets +€32,967
up €32,967 (+2.4%), from €1.4m to €1.4m
of which Plant, machinery and equipment: +€62,817
- Other debts -€513,623
down €513,623 (-73.3%), from €701,123 to €187,500
- Debts after one year +€361,316
up €361,316 (+93.3%), from €387,283 to €748,599
- Profit (loss) carried forward +€167,713
up €167,713 (+1113.0%), from €15,069 to €182,782
- Trade debts +€60,050
up €60,050 (+26.5%), from €226,790 to €286,840
- Gross operating margin -€271,538
down €271,538 (-25.4%), from €1.1m to €799,124
- Depreciation +€16,694
up €16,694 (+16.3%), from €102,236 to €118,930
- Taxes -€15,410
down €15,410 (-21.9%), from €70,507 to €55,097
- Staff costs +€12,384
up €12,384 (+6.1%), from €202,453 to €214,837
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 | €2,301,041 | €2,361,350 | +€60,309 | +2.6% |
| Fixed assets | 21/28 | €1,366,905 | €1,399,872 | +€32,967 | +2.4% |
| Tangible fixed assets | 22/27 | €1,366,905 | €1,399,872 | +€32,967 | +2.4% |
| Land and buildings | 22 | €1,236,102 | €1,171,380 | -€64,722 | -5.2% |
| Plant, machinery and equipment | 23 | €67,282 | €130,099 | +€62,817 | +93.4% |
| Furniture and vehicles | 24 | €63,521 | €98,393 | +€34,872 | +54.9% |
| Current assets | 29/58 | €934,136 | €961,478 | +€27,342 | +2.9% |
| Stocks and contracts in progress | 3 | €339,330 | €374,519 | +€35,189 | +10.4% |
| Stocks | 30/36 | €339,330 | €374,519 | +€35,189 | +10.4% |
| Amounts receivable within one year | 40/41 | €204,454 | €97,162 | -€107,291 | -52.5% |
| Trade receivables | 40 | €204,454 | €76,605 | -€127,849 | -62.5% |
| Other amounts receivable | 41 | €0 | €20,558 | +€20,558 | |
| Cash at bank and in hand | 54/58 | €376,699 | €475,170 | +€98,471 | +26.1% |
| Deferred charges and accrued income | 490/1 | €13,653 | €14,626 | +€973 | +7.1% |
| Total equity and liabilities | 10/49 | €2,301,041 | €2,361,350 | +€60,309 | +2.6% |
| Equity | 10/15 | €870,669 | €1,038,382 | +€167,713 | +19.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €837,000 | €837,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €37,000 | €37,000 | = | 0.0% |
| Distributable reserves | 133 | €800,000 | €800,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,069 | €182,782 | +€167,713 | +1113.0% |
| Amounts payable | 17/49 | €1,430,372 | €1,322,968 | -€107,404 | -7.5% |
| Amounts payable after more than one year | 17 | €387,283 | €748,599 | +€361,316 | +93.3% |
| Financial debts | 170/4 | €387,283 | €748,599 | +€361,316 | +93.3% |
| Amounts payable within one year | 42/48 | €1,043,088 | €574,368 | -€468,720 | -44.9% |
| Current portion of amounts payable after more than one year | 42 | €68,091 | €72,603 | +€4,513 | +6.6% |
| Trade debts | 44 | €226,790 | €286,840 | +€60,050 | +26.5% |
| Suppliers | 440/4 | €226,790 | €286,840 | +€60,050 | +26.5% |
| Taxes, remuneration and social security | 45 | €47,085 | €27,425 | -€19,660 | -41.8% |
| Taxes | 450/3 | €17,648 | €1,084 | -€16,564 | -93.9% |
| Remuneration and social security | 454/9 | €29,437 | €26,341 | -€3,095 | -10.5% |
| Other amounts payable | 47/48 | €701,123 | €187,500 | -€513,623 | -73.3% |
| Remuneration, social security and pensions | 62 | €202,453 | €214,837 | +€12,384 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,236 | €118,930 | +€16,694 | +16.3% |
| Other operating charges | 640/8 | €9,505 | €9,177 | -€329 | -3.5% |
| Gross operating margin | 9900 | €1,070,663 | €799,124 | -€271,538 | -25.4% |
| Operating profit (loss) | 9901 | €756,468 | €456,181 | -€300,288 | -39.7% |
| Financial income | 75/76B | €443 | €421 | -€22 | -4.9% |
| Recurring financial income | 75 | €443 | €421 | -€22 | -4.9% |
| Financial charges | 65/66B | €43,464 | €46,292 | +€2,828 | +6.5% |
| Recurring financial charges | 65 | €43,464 | €46,292 | +€2,828 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | €713,447 | €410,310 | -€303,138 | -42.5% |
| Income taxes | 67/77 | €70,507 | €55,097 | -€15,410 | -21.9% |
| Profit (loss) for the period | 9904 | €642,940 | €355,213 | -€287,727 | -44.8% |
| Profit (loss) for the period to be appropriated | 9905 | €642,940 | €355,213 | -€287,727 | -44.8% |
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.