RD LAW: 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 LAW
Largest movements
- Tangible fixed assets +€46,417
new in 2025: €46,417
- Cash +€19,163
up €19,163 (+15.4%), from €124,837 to €144,001
mainly Net result for the year (+€121,476) and Other debts (+€45,828)
- Receivables within one year +€4,533
up €4,533 (+21.9%), from €20,737 to €25,270
- Other debts +€45,828
up €45,828 (+45.9%), from €99,947 to €145,775
- Debts after one year +€26,054
new in 2025: €26,054
- Profit (loss) carried forward -€18,524
down €18,524 (-92.7%), from €19,989 to €1,465
- Tax, wage and social debts +€7,732
up €7,732 (+35.3%), from €21,881 to €29,612
of which Taxes: +€10,482
- Current portion of long-term debt +€7,706
new in 2025: €7,706
- Gross operating margin +€36,162
up €36,162 (+25.3%), from €142,657 to €178,819
- Taxes +€7,415
up €7,415 (+23.8%), from €31,164 to €38,579
- Other operating charges +€6,098
up €6,098 (+2067.0%), from €295 to €6,393
- Depreciation +€6,054
up €6,054 (+177.7%), from €3,407 to €9,461
- Financial charges +€1,839
up €1,839 (+171.6%), from €1,072 to €2,911
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 | €146,859 | €216,088 | +€69,229 | +47.1% |
| Fixed assets | 21/28 | - | €46,417 | +€46,417 | |
| Tangible fixed assets | 22/27 | - | €46,417 | +€46,417 | |
| Furniture and vehicles | 24 | - | €46,417 | +€46,417 | |
| Current assets | 29/58 | €146,859 | €169,670 | +€22,811 | +15.5% |
| Amounts receivable within one year | 40/41 | €20,737 | €25,270 | +€4,533 | +21.9% |
| Other amounts receivable | 41 | €20,737 | €25,270 | +€4,533 | +21.9% |
| Cash at bank and in hand | 54/58 | €124,837 | €144,001 | +€19,163 | +15.4% |
| Deferred charges and accrued income | 490/1 | €1,285 | €400 | -€885 | -68.9% |
| Total equity and liabilities | 10/49 | €146,859 | €216,088 | +€69,229 | +47.1% |
| Equity | 10/15 | €24,989 | €6,465 | -€18,524 | -74.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,989 | €1,465 | -€18,524 | -92.7% |
| Amounts payable | 17/49 | €121,870 | €209,623 | +€87,753 | +72.0% |
| Amounts payable after more than one year | 17 | - | €26,054 | +€26,054 | |
| Financial debts | 170/4 | - | €26,054 | +€26,054 | |
| Amounts payable within one year | 42/48 | €121,870 | €183,486 | +€61,616 | +50.6% |
| Current portion of amounts payable after more than one year | 42 | - | €7,706 | +€7,706 | |
| Trade debts | 44 | €42 | €393 | +€351 | +834.5% |
| Suppliers | 440/4 | €42 | €393 | +€351 | +834.5% |
| Taxes, remuneration and social security | 45 | €21,881 | €29,612 | +€7,732 | +35.3% |
| Taxes | 450/3 | €19,131 | €29,612 | +€10,482 | +54.8% |
| Remuneration and social security | 454/9 | €2,750 | - | -€2,750 | |
| Other amounts payable | 47/48 | €99,947 | €145,775 | +€45,828 | +45.9% |
| Accrued charges and deferred income | 492/3 | - | €82 | +€82 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,407 | €9,461 | +€6,054 | +177.7% |
| Other operating charges | 640/8 | €295 | €6,393 | +€6,098 | +2067.0% |
| Gross operating margin | 9900 | €142,657 | €178,819 | +€36,162 | +25.3% |
| Operating profit (loss) | 9901 | €138,955 | €162,965 | +€24,010 | +17.3% |
| Financial charges | 65/66B | €1,072 | €2,911 | +€1,839 | +171.6% |
| Recurring financial charges | 65 | €1,072 | €2,911 | +€1,839 | +171.6% |
| Profit (loss) for the period before taxes | 9903 | €137,883 | €160,054 | +€22,171 | +16.1% |
| Income taxes | 67/77 | €31,164 | €38,579 | +€7,415 | +23.8% |
| Profit (loss) for the period | 9904 | €106,719 | €121,476 | +€14,756 | +13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €106,719 | €121,476 | +€14,756 | +13.8% |
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 7 October 2026 via checked.be.