RDR INFRA: 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.
RDR INFRA
Largest movements
- Receivables within one year +€306,620
up €306,620 (+475%), from €64,591 to €371,211
of which Trade receivables: +€316,947
- Stocks and contracts -€300,741
no longer reported in 2025 (was €300,741)
of which Contracts in progress: -€269,298
- Cash +€72,059
up €72,059 (+269%), from €26,809 to €98,868
mainly Stocks and contracts (+€300,741) and Short-term financial debts (+€69,000)
- Short-term financial debts +€69,000
new in 2025: €69,000
- Trade debts +€53,925
up €53,925 (+3,435%), from €1,570 to €55,495
- Other debts -€49,928
down €49,928 (-27.9%), from €178,794 to €128,866
- Gross operating margin +€5,715
up €5,715 (+313%), from €1,826 to €7,541
- Depreciation +€4,840
new in 2025: €4,840
- Financial charges -€1,444
down €1,444 (-30.5%), from €4,741 to €3,297
- Staff costs -€768
down €768 (-70.9%), from €1,083 to €316
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 | €412,342 | €486,855 | +€74,513 | +18.1% |
| Fixed assets | 21/28 | €20,201 | €16,660 | -€3,540 | -17.5% |
| Tangible fixed assets | 22/27 | €16,081 | €12,540 | -€3,540 | -22.0% |
| Plant, machinery and equipment | 23 | €16,081 | €12,540 | -€3,540 | -22.0% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Financial fixed assets | 28 | €4,120 | €4,120 | = | 0.0% |
| Current assets | 29/58 | €392,141 | €470,195 | +€78,054 | +19.9% |
| Stocks and contracts in progress | 3 | €300,741 | - | -€300,741 | |
| Stocks | 30/36 | €31,443 | - | -€31,443 | |
| Contracts in progress | 37 | €269,298 | - | -€269,298 | |
| Amounts receivable within one year | 40/41 | €64,591 | €371,211 | +€306,620 | +475% |
| Trade receivables | 40 | €37,643 | €354,589 | +€316,947 | +842% |
| Other amounts receivable | 41 | €26,948 | €16,622 | -€10,326 | -38.3% |
| Cash at bank and in hand | 54/58 | €26,809 | €98,868 | +€72,059 | +269% |
| Deferred charges and accrued income | 490/1 | - | €115 | +€115 | |
| Total equity and liabilities | 10/49 | €412,342 | €486,855 | +€74,513 | +18.1% |
| Equity | 10/15 | €231,978 | €230,922 | -€1,056 | -0.5% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €15,000 | €15,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,978 | €65,922 | -€1,056 | -1.6% |
| Amounts payable | 17/49 | €180,363 | €255,933 | +€75,569 | +41.9% |
| Amounts payable within one year | 42/48 | €180,363 | €255,933 | +€75,569 | +41.9% |
| Financial debts | 43 | - | €69,000 | +€69,000 | |
| Credit institutions | 430/8 | - | €69,000 | +€69,000 | |
| Trade debts | 44 | €1,570 | €55,495 | +€53,925 | +3,435% |
| Suppliers | 440/4 | €1,570 | €55,495 | +€53,925 | +3,435% |
| Taxes, remuneration and social security | 45 | - | €2,572 | +€2,572 | |
| Taxes | 450/3 | - | €2,572 | +€2,572 | |
| Other amounts payable | 47/48 | €178,794 | €128,866 | -€49,928 | -27.9% |
| Remuneration, social security and pensions | 62 | €1,083 | €316 | -€768 | -70.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €4,840 | +€4,840 | |
| Other operating charges | 640/8 | €141 | €144 | +€4 | +2.6% |
| Gross operating margin | 9900 | €1,826 | €7,541 | +€5,715 | +313% |
| Operating profit (loss) | 9901 | €602 | €2,241 | +€1,639 | +272% |
| Financial income | 75/76B | €45 | - | -€45 | |
| Recurring financial income | 75 | €45 | - | -€45 | |
| Financial charges | 65/66B | €4,741 | €3,297 | -€1,444 | -30.5% |
| Recurring financial charges | 65 | €4,741 | €3,297 | -€1,444 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | -€4,093 | -€1,056 | +€3,038 | +74.2% |
| Income taxes | 67/77 | €0 | - | -€0 | |
| Profit (loss) for the period | 9904 | -€4,093 | -€1,056 | +€3,038 | +74.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,093 | -€1,056 | +€3,038 | +74.2% |
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 30 October 2026 via checked.be.