RDG TEAM: 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.
RDG TEAM
Largest movements
- Stocks and contracts +€201,450
up €201,450 (+119%), from €168,671 to €370,121
- Cash -€41,606
down €41,606 (-15.7%), from €264,593 to €222,986
mainly Stocks and contracts (-€201,450) and Investment in fixed assets (net) (-€68,138)
- Tangible fixed assets +€37,008
up €37,008 (+19.3%), from €191,577 to €228,585
of which Furniture and vehicles: +€50,394
- Receivables within one year -€17,293
down €17,293 (-12.6%), from €137,030 to €119,737
of which Other amounts receivable: -€31,779
- Current portion of long-term debt +€125,119
up €125,119 (+38.8%), from €322,446 to €447,566
- Reserves +€29,931
up €29,931 (+13.3%), from €224,711 to €254,642
- Debts after one year +€18,291
up €18,291 (+13.4%), from €136,770 to €155,061
- Staff costs +€157,047
up €157,047 (+43.7%), from €359,483 to €516,531
- Gross operating margin +€121,799
up €121,799 (+23.8%), from €511,942 to €633,740
- Taxes -€17,299
down €17,299 (-57.2%), from €30,229 to €12,930
- Depreciation +€11,173
up €11,173 (+56.0%), from €19,957 to €31,130
- Other operating charges +€7,645
up €7,645 (+189%), from €4,038 to €11,683
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 | €775,552 | €953,574 | +€178,022 | +23.0% |
| Fixed assets | 21/28 | €191,577 | €228,585 | +€37,008 | +19.3% |
| Tangible fixed assets | 22/27 | €191,577 | €228,585 | +€37,008 | +19.3% |
| Land and buildings | 22 | €164,230 | €152,106 | -€12,123 | -7.4% |
| Plant, machinery and equipment | 23 | €3,665 | €2,402 | -€1,263 | -34.5% |
| Furniture and vehicles | 24 | €23,682 | €74,076 | +€50,394 | +213% |
| Current assets | 29/58 | €583,975 | €724,990 | +€141,014 | +24.1% |
| Stocks and contracts in progress | 3 | €168,671 | €370,121 | +€201,450 | +119% |
| Stocks | 30/36 | €168,671 | €370,121 | +€201,450 | +119% |
| Amounts receivable within one year | 40/41 | €137,030 | €119,737 | -€17,293 | -12.6% |
| Trade receivables | 40 | €82,467 | €96,953 | +€14,486 | +17.6% |
| Other amounts receivable | 41 | €54,562 | €22,784 | -€31,779 | -58.2% |
| Cash at bank and in hand | 54/58 | €264,593 | €222,986 | -€41,606 | -15.7% |
| Deferred charges and accrued income | 490/1 | €13,682 | €12,145 | -€1,537 | -11.2% |
| Total equity and liabilities | 10/49 | €775,552 | €953,574 | +€178,022 | +23.0% |
| Equity | 10/15 | €224,711 | €254,642 | +€29,931 | +13.3% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €224,711 | €254,642 | +€29,931 | +13.3% |
| Distributable reserves | 133 | €224,711 | €254,642 | +€29,931 | +13.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €550,841 | €698,932 | +€148,091 | +26.9% |
| Amounts payable after more than one year | 17 | €136,770 | €155,061 | +€18,291 | +13.4% |
| Financial debts | 170/4 | €136,770 | €155,061 | +€18,291 | +13.4% |
| Amounts payable within one year | 42/48 | €414,071 | €543,871 | +€129,800 | +31.3% |
| Current portion of amounts payable after more than one year | 42 | €322,446 | €447,566 | +€125,119 | +38.8% |
| Trade debts | 44 | €59,393 | €65,067 | +€5,674 | +9.6% |
| Suppliers | 440/4 | €59,393 | €65,067 | +€5,674 | +9.6% |
| Taxes, remuneration and social security | 45 | €11,434 | €15,950 | +€4,516 | +39.5% |
| Taxes | 450/3 | €229 | €359 | +€130 | +56.7% |
| Remuneration and social security | 454/9 | €11,205 | €15,591 | +€4,386 | +39.1% |
| Other amounts payable | 47/48 | €20,797 | €15,288 | -€5,509 | -26.5% |
| Remuneration, social security and pensions | 62 | €359,483 | €516,531 | +€157,047 | +43.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,957 | €31,130 | +€11,173 | +56.0% |
| Other operating charges | 640/8 | €4,038 | €11,683 | +€7,645 | +189% |
| Gross operating margin | 9900 | €511,942 | €633,740 | +€121,799 | +23.8% |
| Operating profit (loss) | 9901 | €128,463 | €74,396 | -€54,067 | -42.1% |
| Financial income | 75/76B | €1,011 | €847 | -€164 | -16.2% |
| Recurring financial income | 75 | €1,011 | €847 | -€164 | -16.2% |
| Financial charges | 65/66B | €29,847 | €32,382 | +€2,535 | +8.5% |
| Recurring financial charges | 65 | €29,847 | €32,382 | +€2,535 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €99,626 | €42,861 | -€56,765 | -57.0% |
| Income taxes | 67/77 | €30,229 | €12,930 | -€17,299 | -57.2% |
| Profit (loss) for the period | 9904 | €69,397 | €29,931 | -€39,466 | -56.9% |
| Profit (loss) for the period to be appropriated | 9905 | €69,397 | €29,931 | -€39,466 | -56.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.