RD GROUP: 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 GROUP
Largest movements
- Receivables within one year -€44,099
down €44,099 (-47.1%), from €93,624 to €49,525
of which Trade receivables: -€43,811
- Stocks and contracts +€22,300
up €22,300 (+17.7%), from €125,800 to €148,100
- Cash +€18,342
up €18,342 (+185.1%), from €9,908 to €28,250
mainly Receivables within one year (+€44,099) and Depreciation (+€10,308)
- Tangible fixed assets -€10,308
down €10,308 (-36.2%), from €28,480 to €18,172
- Trade debts -€16,256
down €16,256 (-41.0%), from €39,648 to €23,392
- Other debts +€4,395
up €4,395 (+2.7%), from €162,735 to €167,130
- Gross operating margin -€43,633
down €43,633 (-46.0%), from €94,767 to €51,133
- Staff costs -€19,330
down €19,330 (-28.5%), from €67,775 to €48,445
- Financial income +€8,252
up €8,252 (+1609.8%), from €513 to €8,764
- Taxes -€4,372
down €4,372 (-85.6%), from €5,109 to €737
- Depreciation +€949
up €949 (+10.1%), from €9,359 to €10,308
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 | €257,812 | €244,048 | -€13,765 | -5.3% |
| Fixed assets | 21/28 | €28,480 | €18,172 | -€10,308 | -36.2% |
| Tangible fixed assets | 22/27 | €28,480 | €18,172 | -€10,308 | -36.2% |
| Plant, machinery and equipment | 23 | €28,480 | €18,172 | -€10,308 | -36.2% |
| Current assets | 29/58 | €229,332 | €225,875 | -€3,457 | -1.5% |
| Stocks and contracts in progress | 3 | €125,800 | €148,100 | +€22,300 | +17.7% |
| Stocks | 30/36 | €125,800 | €148,100 | +€22,300 | +17.7% |
| Amounts receivable within one year | 40/41 | €93,624 | €49,525 | -€44,099 | -47.1% |
| Trade receivables | 40 | €93,115 | €49,304 | -€43,811 | -47.1% |
| Other amounts receivable | 41 | €509 | €221 | -€288 | -56.5% |
| Cash at bank and in hand | 54/58 | €9,908 | €28,250 | +€18,342 | +185.1% |
| Total equity and liabilities | 10/49 | €257,812 | €244,048 | -€13,765 | -5.3% |
| Equity | 10/15 | €40,222 | €39,465 | -€758 | -1.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €29,801 | €29,801 | = | 0.0% |
| Distributable reserves | 133 | €29,801 | €29,801 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,221 | €3,463 | -€758 | -17.9% |
| Amounts payable | 17/49 | €217,590 | €204,583 | -€13,007 | -6.0% |
| Amounts payable within one year | 42/48 | €217,590 | €204,583 | -€13,007 | -6.0% |
| Trade debts | 44 | €39,648 | €23,392 | -€16,256 | -41.0% |
| Suppliers | 440/4 | €39,648 | €23,392 | -€16,256 | -41.0% |
| Taxes, remuneration and social security | 45 | €15,207 | €14,061 | -€1,145 | -7.5% |
| Taxes | 450/3 | €8,212 | €7,101 | -€1,111 | -13.5% |
| Remuneration and social security | 454/9 | €6,994 | €6,960 | -€34 | -0.5% |
| Other amounts payable | 47/48 | €162,735 | €167,130 | +€4,395 | +2.7% |
| Remuneration, social security and pensions | 62 | €67,775 | €48,445 | -€19,330 | -28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,359 | €10,308 | +€949 | +10.1% |
| Other operating charges | 640/8 | €1,093 | €585 | -€508 | -46.4% |
| Gross operating margin | 9900 | €94,767 | €51,133 | -€43,633 | -46.0% |
| Operating profit (loss) | 9901 | €16,540 | -€8,204 | -€24,745 | |
| Financial income | 75/76B | €513 | €8,764 | +€8,252 | +1609.8% |
| Recurring financial income | 75 | €513 | €8,764 | +€8,252 | +1609.8% |
| Financial charges | 65/66B | €84 | €580 | +€497 | +592.8% |
| Recurring financial charges | 65 | €84 | €580 | +€497 | +592.8% |
| Profit (loss) for the period before taxes | 9903 | €16,969 | -€21 | -€16,989 | |
| Income taxes | 67/77 | €5,109 | €737 | -€4,372 | -85.6% |
| Profit (loss) for the period | 9904 | €11,860 | -€758 | -€12,618 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,860 | -€758 | -€12,618 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.