RD ENGINEERING: 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.
RD ENGINEERING
Largest movements
- Receivables within one year -€881,941
down €881,941 (-60.9%), from €1.4m to €565,454
of which Trade receivables: -€847,477
- Cash +€572,413
up €572,413 (+1165.2%), from €49,126 to €621,539
mainly Receivables within one year (+€881,941) and Net result for the year (+€558,004)
- Stocks and contracts -€40,000
down €40,000 (-33.3%), from €120,000 to €80,000
- Deferred charges and accrued income +€30,634
up €30,634 (+130.9%), from €23,405 to €54,039
- Trade debts -€327,841
down €327,841 (-69.2%), from €473,796 to €145,954
- Reserves +€129,068
up €129,068 (+20.8%), from €620,310 to €749,378
- Other debts -€117,876
down €117,876 (-23.6%), from €500,000 to €382,124
- Short-term financial debts +€45,856
up €45,856 (+542.5%), from €8,453 to €54,309
- Debts after one year -€27,344
down €27,344 (-42.2%), from €64,744 to €37,400
- Gross operating margin +€62,164
up €62,164 (+5.3%), from €1.2m to €1.2m
- Staff costs +€31,499
up €31,499 (+6.1%), from €516,596 to €548,095
- Taxes -€13,128
down €13,128 (-16.3%), from €80,550 to €67,422
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 | €1,808,606 | €1,494,387 | -€314,219 | -17.4% |
| Fixed assets | 21/28 | €168,681 | €173,355 | +€4,674 | +2.8% |
| Tangible fixed assets | 22/27 | €168,681 | €173,355 | +€4,674 | +2.8% |
| Plant, machinery and equipment | 23 | €42,449 | €26,572 | -€15,877 | -37.4% |
| Furniture and vehicles | 24 | €126,232 | €146,783 | +€20,551 | +16.3% |
| Current assets | 29/58 | €1,639,926 | €1,321,032 | -€318,894 | -19.4% |
| Stocks and contracts in progress | 3 | €120,000 | €80,000 | -€40,000 | -33.3% |
| Contracts in progress | 37 | €120,000 | €80,000 | -€40,000 | -33.3% |
| Amounts receivable within one year | 40/41 | €1,447,395 | €565,454 | -€881,941 | -60.9% |
| Trade receivables | 40 | €1,378,919 | €531,443 | -€847,477 | -61.5% |
| Other amounts receivable | 41 | €68,476 | €34,012 | -€34,464 | -50.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €49,126 | €621,539 | +€572,413 | +1165.2% |
| Deferred charges and accrued income | 490/1 | €23,405 | €54,039 | +€30,634 | +130.9% |
| Total equity and liabilities | 10/49 | €1,808,606 | €1,494,387 | -€314,219 | -17.4% |
| Equity | 10/15 | €624,849 | €753,917 | +€129,068 | +20.7% |
| Contributions | 10/11 | €4,539 | €4,539 | = | 0.0% |
| Reserves | 13 | €620,310 | €749,378 | +€129,068 | +20.8% |
| Distributable reserves | 133 | €620,310 | €749,378 | +€129,068 | +20.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,183,757 | €740,470 | -€443,288 | -37.4% |
| Amounts payable after more than one year | 17 | €64,744 | €37,400 | -€27,344 | -42.2% |
| Financial debts | 170/4 | €64,744 | €37,400 | -€27,344 | -42.2% |
| Amounts payable within one year | 42/48 | €1,118,882 | €702,341 | -€416,540 | -37.2% |
| Current portion of amounts payable after more than one year | 42 | €26,541 | €27,344 | +€803 | +3.0% |
| Financial debts | 43 | €8,453 | €54,309 | +€45,856 | +542.5% |
| Credit institutions | 430/8 | €8,453 | €54,309 | +€45,856 | +542.5% |
| Trade debts | 44 | €473,796 | €145,954 | -€327,841 | -69.2% |
| Suppliers | 440/4 | €473,796 | €145,954 | -€327,841 | -69.2% |
| Taxes, remuneration and social security | 45 | €110,092 | €92,611 | -€17,482 | -15.9% |
| Taxes | 450/3 | €30,013 | €21,854 | -€8,159 | -27.2% |
| Remuneration and social security | 454/9 | €80,079 | €70,756 | -€9,323 | -11.6% |
| Other amounts payable | 47/48 | €500,000 | €382,124 | -€117,876 | -23.6% |
| Accrued charges and deferred income | 492/3 | €132 | €729 | +€597 | +452.4% |
| Non-recurring operating income | 76A | €12,733 | €0 | -€12,733 | -100.0% |
| Remuneration, social security and pensions | 62 | €516,596 | €548,095 | +€31,499 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,218 | €59,659 | +€5,441 | +10.0% |
| Other operating charges | 640/8 | €3,785 | €4,074 | +€289 | +7.6% |
| Non-recurring operating charges | 66A | - | €4,574 | +€4,574 | |
| Gross operating margin | 9900 | €1,180,354 | €1,242,518 | +€62,164 | +5.3% |
| Operating profit (loss) | 9901 | €605,755 | €626,116 | +€20,361 | +3.4% |
| Financial income | 75/76B | €7,202 | €3,539 | -€3,663 | -50.9% |
| Recurring financial income | 75 | €7,202 | €3,539 | -€3,663 | -50.9% |
| Financial charges | 65/66B | €3,375 | €4,228 | +€853 | +25.3% |
| Recurring financial charges | 65 | €3,375 | €4,228 | +€853 | +25.3% |
| Profit (loss) for the period before taxes | 9903 | €609,582 | €625,427 | +€15,844 | +2.6% |
| Income taxes | 67/77 | €80,550 | €67,422 | -€13,128 | -16.3% |
| Profit (loss) for the period | 9904 | €529,032 | €558,004 | +€28,972 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €529,032 | €558,004 | +€28,972 | +5.5% |
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 6 October 2026 via checked.be.