RCP MANAGEX: 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.
RCP MANAGEX
Largest movements
- Tangible fixed assets -€32,737
down €32,737 (-12.1%), from €269,702 to €236,964
of which Furniture and vehicles: -€19,563
- Cash -€5,370
down €5,370 (-26.5%), from €20,270 to €14,900
mainly Contributions, distributions and other (-€25,729) and Debts after one year (-€23,140)
- Receivables within one year -€4,628
down €4,628 (-17.8%), from €25,969 to €21,341
of which Trade receivables: -€6,972
- Debts after one year -€23,140
down €23,140 (-37.8%), from €61,188 to €38,048
- Other debts -€7,241
down €7,241 (-5.1%), from €140,930 to €133,689
- Tax, wage and social debts -€5,547
down €5,547 (-63.1%), from €8,798 to €3,251
of which Taxes: -€5,558
- Reserves -€5,375
down €5,375 (-8.1%), from €66,163 to €60,788
- Gross operating margin -€14,263
down €14,263 (-15.0%), from €94,932 to €80,669
- Taxes -€4,448
down €4,448 (-28.1%), from €15,815 to €11,367
- Depreciation -€3,525
down €3,525 (-8.2%), from €42,880 to €39,355
- Other operating charges +€3,282
up €3,282 (+205%), from €1,599 to €4,881
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.
Derived cash bridge
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 | €317,632 | €276,954 | -€40,678 | -12.8% |
| Fixed assets | 21/28 | €269,767 | €237,029 | -€32,737 | -12.1% |
| Tangible fixed assets | 22/27 | €269,702 | €236,964 | -€32,737 | -12.1% |
| Land and buildings | 22 | €123,870 | €116,128 | -€7,742 | -6.2% |
| Furniture and vehicles | 24 | €87,963 | €68,399 | -€19,563 | -22.2% |
| Other tangible fixed assets | 26 | €57,869 | €52,438 | -€5,432 | -9.4% |
| Financial fixed assets | 28 | €65 | €65 | = | 0.0% |
| Current assets | 29/58 | €47,866 | €39,924 | -€7,941 | -16.6% |
| Amounts receivable within one year | 40/41 | €25,969 | €21,341 | -€4,628 | -17.8% |
| Trade receivables | 40 | €20,234 | €13,262 | -€6,972 | -34.5% |
| Other amounts receivable | 41 | €5,734 | €8,079 | +€2,345 | +40.9% |
| Cash at bank and in hand | 54/58 | €20,270 | €14,900 | -€5,370 | -26.5% |
| Deferred charges and accrued income | 490/1 | €1,627 | €3,684 | +€2,057 | +126% |
| Total equity and liabilities | 10/49 | €317,632 | €276,954 | -€40,678 | -12.8% |
| Equity | 10/15 | €78,563 | €73,188 | -€5,375 | -6.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €66,163 | €60,788 | -€5,375 | -8.1% |
| Distributable reserves | 133 | €66,163 | €60,788 | -€5,375 | -8.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €239,070 | €203,766 | -€35,303 | -14.8% |
| Amounts payable after more than one year | 17 | €61,188 | €38,048 | -€23,140 | -37.8% |
| Financial debts | 170/4 | €61,188 | €38,048 | -€23,140 | -37.8% |
| Amounts payable within one year | 42/48 | €175,485 | €163,576 | -€11,909 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €23,349 | €23,140 | -€210 | -0.9% |
| Trade debts | 44 | €1,207 | €2,296 | +€1,089 | +90.2% |
| Suppliers | 440/4 | €1,207 | €2,296 | +€1,089 | +90.2% |
| Advances received on contracts in progress | 46 | €1,200 | €1,200 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €8,798 | €3,251 | -€5,547 | -63.1% |
| Taxes | 450/3 | €7,593 | €2,035 | -€5,558 | -73.2% |
| Remuneration and social security | 454/9 | €1,205 | €1,215 | +€11 | +0.9% |
| Other amounts payable | 47/48 | €140,930 | €133,689 | -€7,241 | -5.1% |
| Accrued charges and deferred income | 492/3 | €2,397 | €2,142 | -€254 | -10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,880 | €39,355 | -€3,525 | -8.2% |
| Other operating charges | 640/8 | €1,599 | €4,881 | +€3,282 | +205% |
| Non-recurring operating charges | 66A | - | €1,197 | +€1,197 | |
| Gross operating margin | 9900 | €94,932 | €80,669 | -€14,263 | -15.0% |
| Operating profit (loss) | 9901 | €50,453 | €35,236 | -€15,217 | -30.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | +1,233% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +1,233% |
| Financial charges | 65/66B | €4,143 | €3,515 | -€629 | -15.2% |
| Recurring financial charges | 65 | €4,143 | €3,515 | -€629 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €46,310 | €31,722 | -€14,588 | -31.5% |
| Income taxes | 67/77 | €15,815 | €11,367 | -€4,448 | -28.1% |
| Profit (loss) for the period | 9904 | €30,495 | €20,354 | -€10,140 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,495 | €20,354 | -€10,140 | -33.3% |
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 21 October 2026 via checked.be.