RDS: 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.
RDS
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+62.6%), from €1.9m to €3.2m
of which Plant, machinery and equipment: +€1.1m
- Cash +€398,299
up €398,299 (+50.7%), from €784,932 to €1.2m
mainly Net result for the year (+€2.2m) and Other debts (+€1.2m)
- Receivables within one year +€382,288
up €382,288 (+17.5%), from €2.2m to €2.6m
of which Other amounts receivable: +€363,370
- Intangible fixed assets -€124,828
down €124,828 (-15.0%), from €834,148 to €709,320
- Other debts +€1.2m
up €1.2m (+51.1%), from €2.4m to €3.6m
- Debts after one year +€548,588
up €548,588 (+35.8%), from €1.5m to €2.1m
- Trade debts -€307,634
down €307,634 (-40.4%), from €760,758 to €453,123
- Current portion of long-term debt +€279,766
up €279,766 (+48.1%), from €581,248 to €861,014
- Reserves +€253,281
up €253,281 (+18.0%), from €1.4m to €1.7m
of which Distributable reserves: +€269,827
- Gross operating margin +€1.2m
up €1.2m (+29.3%), from €4.1m to €5.4m
- Depreciation +€160,540
up €160,540 (+29.6%), from €543,163 to €703,703
- Staff costs +€86,738
up €86,738 (+4.1%), from €2.1m to €2.2m
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,122,036 | €9,115,676 | +€2.0m | +28.0% |
| Fixed assets | 21/28 | €2,789,758 | €3,885,300 | +€1.1m | +39.3% |
| Intangible fixed assets | 21 | €834,148 | €709,320 | -€124,828 | -15.0% |
| Tangible fixed assets | 22/27 | €1,948,895 | €3,169,265 | +€1.2m | +62.6% |
| Land and buildings | 22 | €719,430 | €668,428 | -€51,002 | -7.1% |
| Plant, machinery and equipment | 23 | €1,119,909 | €2,241,766 | +€1.1m | +100.2% |
| Furniture and vehicles | 24 | €109,556 | €259,071 | +€149,515 | +136.5% |
| Financial fixed assets | 28 | €6,715 | €6,715 | = | 0.0% |
| Current assets | 29/58 | €4,332,278 | €5,230,376 | +€898,098 | +20.7% |
| Stocks and contracts in progress | 3 | €1,357,852 | €1,448,687 | +€90,836 | +6.7% |
| Stocks | 30/36 | €1,357,852 | €1,448,687 | +€90,836 | +6.7% |
| Amounts receivable within one year | 40/41 | €2,184,190 | €2,566,477 | +€382,288 | +17.5% |
| Trade receivables | 40 | €2,178,071 | €2,196,988 | +€18,917 | +0.9% |
| Other amounts receivable | 41 | €6,119 | €369,489 | +€363,370 | +5938.4% |
| Cash at bank and in hand | 54/58 | €784,932 | €1,183,231 | +€398,299 | +50.7% |
| Deferred charges and accrued income | 490/1 | €5,304 | €31,980 | +€26,676 | +502.9% |
| Total equity and liabilities | 10/49 | €7,122,036 | €9,115,676 | +€2.0m | +28.0% |
| Equity | 10/15 | €1,429,152 | €1,682,433 | +€253,281 | +17.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,404,152 | €1,657,433 | +€253,281 | +18.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €115,807 | €99,261 | -€16,546 | -14.3% |
| Distributable reserves | 133 | €1,288,344 | €1,558,172 | +€269,827 | +20.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €46,500 | €40,984 | -€5,515 | -11.9% |
| Deferred taxes | 168 | €46,500 | €40,984 | -€5,515 | -11.9% |
| Amounts payable | 17/49 | €5,646,384 | €7,392,259 | +€1.7m | +30.9% |
| Amounts payable after more than one year | 17 | €1,530,462 | €2,079,050 | +€548,588 | +35.8% |
| Financial debts | 170/4 | €1,530,462 | €2,079,050 | +€548,588 | +35.8% |
| Amounts payable within one year | 42/48 | €4,112,824 | €5,313,049 | +€1.2m | +29.2% |
| Current portion of amounts payable after more than one year | 42 | €581,248 | €861,014 | +€279,766 | +48.1% |
| Financial debts | 43 | €90,000 | €25,309 | -€64,691 | -71.9% |
| Credit institutions | 430/8 | €90,000 | €25,309 | -€64,691 | -71.9% |
| Trade debts | 44 | €760,758 | €453,123 | -€307,634 | -40.4% |
| Suppliers | 440/4 | €760,758 | €453,123 | -€307,634 | -40.4% |
| Taxes, remuneration and social security | 45 | €296,486 | €370,620 | +€74,134 | +25.0% |
| Taxes | 450/3 | €74,793 | €132,144 | +€57,351 | +76.7% |
| Remuneration and social security | 454/9 | €221,693 | €238,475 | +€16,783 | +7.6% |
| Other amounts payable | 47/48 | €2,384,333 | €3,602,983 | +€1.2m | +51.1% |
| Accrued charges and deferred income | 492/3 | €3,098 | €160 | -€2,938 | -94.8% |
| Non-recurring operating income | 76A | €7,706 | €0 | -€7,706 | -100.0% |
| Remuneration, social security and pensions | 62 | €2,104,147 | €2,190,884 | +€86,738 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €543,163 | €703,703 | +€160,540 | +29.6% |
| Other operating charges | 640/8 | €17,830 | €46,485 | +€28,655 | +160.7% |
| Non-recurring operating charges | 66A | €7,152 | €25,905 | +€18,753 | +262.2% |
| Gross operating margin | 9900 | €4,137,676 | €5,350,993 | +€1.2m | +29.3% |
| Operating profit (loss) | 9901 | €1,465,384 | €2,384,016 | +€918,632 | +62.7% |
| Financial income | 75/76B | €4,755 | €10,323 | +€5,568 | +117.1% |
| Recurring financial income | 75 | €4,755 | €10,323 | +€5,568 | +117.1% |
| Financial charges | 65/66B | €60,081 | €101,384 | +€41,303 | +68.7% |
| Recurring financial charges | 65 | €60,081 | €101,384 | +€41,303 | +68.7% |
| Profit (loss) for the period before taxes | 9903 | €1,410,059 | €2,292,955 | +€882,897 | +62.6% |
| Transfer from deferred taxes | 780 | €5,515 | €5,515 | = | 0.0% |
| Income taxes | 67/77 | €74,834 | €95,190 | +€20,355 | +27.2% |
| Profit (loss) for the period | 9904 | €1,340,740 | €2,203,281 | +€862,541 | +64.3% |
| Transfer from tax-exempt reserves | 789 | €16,546 | €16,546 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,357,286 | €2,219,827 | +€862,541 | +63.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.