RD INVEST: 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.
RD INVEST
Largest movements
- Receivables within one year -€145,109
down €145,109 (-83.0%), from €174,767 to €29,658
of which Other amounts receivable: -€153,841
- Current investments +€131,044
up €131,044 (+15,284%), from €857 to €131,901
- Receivables after one year -€125,000
no longer reported in 2025 (was €125,000)
- Cash +€118,052
up €118,052 (+319%), from €37,006 to €155,058
mainly Receivables within one year (+€145,109) and Receivables after one year (+€125,000)
- Tangible fixed assets -€91,668
down €91,668 (-5.1%), from €1.8m to €1.7m
- Debts after one year -€118,595
down €118,595 (-15.6%), from €759,237 to €640,642
- Reserves -€64,436
down €64,436 (-8.0%), from €806,532 to €742,096
of which Distributable reserves: -€45,000
- Tax, wage and social debts +€35,708
up €35,708 (+160%), from €22,348 to €58,056
- Other debts +€29,154
up €29,154 (+7.3%), from €400,094 to €429,248
- Gross operating margin +€51,060
up €51,060 (+20.2%), from €252,269 to €303,329
- Taxes +€23,759
up €23,759 (+66.0%), from €35,997 to €59,756
- Financial charges -€17,487
down €17,487 (-27.6%), from €63,394 to €45,907
of which Financial charges: -€17,487
- Financial income +€14,193
up €14,193 (+155,624%), from €9 to €14,202
of which Financial income: +€14,193
- Depreciation -€4,117
down €4,117 (-4.3%), from €95,785 to €91,668
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 | €2,215,324 | €2,102,643 | -€112,681 | -5.1% |
| Fixed assets | 21/28 | €1,877,694 | €1,786,026 | -€91,668 | -4.9% |
| Tangible fixed assets | 22/27 | €1,813,834 | €1,722,166 | -€91,668 | -5.1% |
| Land and buildings | 22 | €1,813,834 | €1,722,166 | -€91,668 | -5.1% |
| Financial fixed assets | 28 | €63,860 | €63,860 | = | 0.0% |
| Current assets | 29/58 | €337,630 | €316,617 | -€21,013 | -6.2% |
| Amounts receivable after more than one year | 29 | €125,000 | - | -€125,000 | |
| Other amounts receivable | 291 | €125,000 | - | -€125,000 | |
| Amounts receivable within one year | 40/41 | €174,767 | €29,658 | -€145,109 | -83.0% |
| Trade receivables | 40 | €20,926 | €29,658 | +€8,732 | +41.7% |
| Other amounts receivable | 41 | €153,841 | - | -€153,841 | |
| Current investments | 50/53 | €857 | €131,901 | +€131,044 | +15,284% |
| Cash at bank and in hand | 54/58 | €37,006 | €155,058 | +€118,052 | +319% |
| Total equity and liabilities | 10/49 | €2,215,324 | €2,102,643 | -€112,681 | -5.1% |
| Equity | 10/15 | €843,528 | €780,918 | -€62,610 | -7.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €806,532 | €742,096 | -€64,436 | -8.0% |
| Tax-exempt reserves | 132 | €157,532 | €138,096 | -€19,436 | -12.3% |
| Distributable reserves | 133 | €649,000 | €604,000 | -€45,000 | -6.9% |
| Profit (loss) carried forward | 14 | €16,995 | €18,822 | +€1,827 | +10.7% |
| Provisions and deferred taxes | 16 | €47,623 | €41,843 | -€5,780 | -12.1% |
| Provisions for liabilities and charges | 160/5 | - | €41,843 | +€41,843 | |
| Taxes | 161 | - | €41,843 | +€41,843 | |
| Deferred taxes | 168 | €47,623 | - | -€47,623 | |
| Amounts payable | 17/49 | €1,324,173 | €1,279,882 | -€44,291 | -3.3% |
| Amounts payable after more than one year | 17 | €759,237 | €640,642 | -€118,595 | -15.6% |
| Financial debts | 170/4 | €759,237 | €640,642 | -€118,595 | -15.6% |
| Amounts payable within one year | 42/48 | €564,937 | €622,063 | +€57,126 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | €135,145 | €128,594 | -€6,551 | -4.8% |
| Trade debts | 44 | €7,350 | €6,165 | -€1,185 | -16.1% |
| Suppliers | 440/4 | €7,350 | €6,165 | -€1,185 | -16.1% |
| Taxes, remuneration and social security | 45 | €22,348 | €58,056 | +€35,708 | +160% |
| Taxes | 450/3 | €22,348 | €58,056 | +€35,708 | +160% |
| Other amounts payable | 47/48 | €400,094 | €429,248 | +€29,154 | +7.3% |
| Accrued charges and deferred income | 492/3 | - | €17,177 | +€17,177 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,785 | €91,668 | -€4,117 | -4.3% |
| Other operating charges | 640/8 | €12,740 | €13,590 | +€850 | +6.7% |
| Gross operating margin | 9900 | €252,269 | €303,329 | +€51,060 | +20.2% |
| Operating profit (loss) | 9901 | €143,744 | €198,071 | +€54,327 | +37.8% |
| Financial income | 75/76B | €9 | €14,202 | +€14,193 | +155,624% |
| Recurring financial income | 75 | €9 | €14,202 | +€14,193 | +155,624% |
| Non-recurring financial income | 76B | - | €0 | = | |
| Financial charges | 65/66B | €63,394 | €45,907 | -€17,487 | -27.6% |
| Recurring financial charges | 65 | €63,394 | €45,907 | -€17,487 | -27.6% |
| Non-recurring financial charges | 66B | - | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | €80,360 | €166,366 | +€86,006 | +107% |
| Transfer from deferred taxes | 780 | €5,780 | €5,780 | -€0 | 0.0% |
| Income taxes | 67/77 | €35,997 | €59,756 | +€23,759 | +66.0% |
| Profit (loss) for the period | 9904 | €50,143 | €112,390 | +€62,247 | +124% |
| Transfer from tax-exempt reserves | 789 | €19,437 | €19,437 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €69,580 | €131,827 | +€62,247 | +89.5% |
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 26 October 2026 via checked.be.