RDS COMPANY: what changed
What changed
RDS COMPANY
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€27,818
2024 · €26,312+€1,505
Equity
€584,601
2024 · €556,783+€27,818
Cash
€31,492
2024 · €55,703-€24,211
Balance sheet total
€1.2m
2024 · €1.2m-€37,096
Largest movements
Assets
- Tangible fixed assets -€35,898
down €35,898 (-3.1%), from €1.2m to €1.1m
of which Furniture and vehicles: -€27,809
- Cash -€24,211
down €24,211 (-43.5%), from €55,703 to €31,492
mainly Debts after one year (-€72,635) and Investment in fixed assets (net) (-€32,123)
- Receivables within one year +€22,661
up €22,661 (+75.9%), from €29,868 to €52,529
of which Trade receivables: +€24,200
Equity and liabilities
- Debts after one year -€72,635
down €72,635 (-16.2%), from €449,500 to €376,864
- Reserves +€27,818
up €27,818 (+5.7%), from €488,233 to €516,051
Income statement
- Gross operating margin -€12,536
down €12,536 (-8.3%), from €150,853 to €138,317
- Depreciation -€10,752
down €10,752 (-13.6%), from €78,773 to €68,021
- Financial charges -€2,100
down €2,100 (-8.9%), from €23,688 to €21,588
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€26,312
Gross operating margin
-€12,536
Staff costs
+€1,290
Depreciation
+€10,752
Other operating charges
+€1,289
Financial income
-€101
Financial charges
+€2,100
Taxes
-€1,289
Result 2025
€27,818
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€79,246
Investment
-€32,123
Financing
-€71,335
Cash 2024
€55,703
From operations (derived)
+€79,246
Net result for the year
+€27,818
Depreciation
+€68,021
Receivables within one year
-€22,661
Deferred charges and accrued income
-€353
Trade debts
+€3,440
Tax, wage and social debts
+€3,343
Other debts
+€619
Accrued charges and deferred income
-€980
Investment (derived)
-€32,123
Investment in fixed assets (net)
-€32,123
Financing
-€71,335
Debts after one year
-€72,635
Current portion of long-term debt
+€1,300
Cash 2025
€31,492
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,242,227 | €1,205,132 | -€37,096 | -3.0% |
| Fixed assets | 21/28 | €1,151,468 | €1,115,570 | -€35,898 | -3.1% |
| Tangible fixed assets | 22/27 | €1,151,468 | €1,115,570 | -€35,898 | -3.1% |
| Land and buildings | 22 | €788,856 | €787,944 | -€912 | -0.1% |
| Plant, machinery and equipment | 23 | €693 | €11,803 | +€11,110 | +1,603% |
| Furniture and vehicles | 24 | €82,311 | €54,502 | -€27,809 | -33.8% |
| Other tangible fixed assets | 26 | €279,608 | €261,321 | -€18,287 | -6.5% |
| Current assets | 29/58 | €90,760 | €89,562 | -€1,198 | -1.3% |
| Amounts receivable within one year | 40/41 | €29,868 | €52,529 | +€22,661 | +75.9% |
| Trade receivables | 40 | €19,360 | €43,560 | +€24,200 | +125% |
| Other amounts receivable | 41 | €10,508 | €8,969 | -€1,539 | -14.6% |
| Cash at bank and in hand | 54/58 | €55,703 | €31,492 | -€24,211 | -43.5% |
| Deferred charges and accrued income | 490/1 | €5,188 | €5,541 | +€353 | +6.8% |
| Total equity and liabilities | 10/49 | €1,242,227 | €1,205,132 | -€37,096 | -3.0% |
| Equity | 10/15 | €556,783 | €584,601 | +€27,818 | +5.0% |
| Contributions | 10/11 | €68,550 | €68,550 | = | 0.0% |
| Reserves | 13 | €488,233 | €516,051 | +€27,818 | +5.7% |
| Distributable reserves | 133 | €488,233 | €516,051 | +€27,818 | +5.7% |
| Amounts payable | 17/49 | €685,445 | €620,531 | -€64,914 | -9.5% |
| Amounts payable after more than one year | 17 | €449,500 | €376,864 | -€72,635 | -16.2% |
| Financial debts | 170/4 | €449,500 | €376,864 | -€72,635 | -16.2% |
| Amounts payable within one year | 42/48 | €233,781 | €242,483 | +€8,702 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €71,335 | €72,635 | +€1,300 | +1.8% |
| Trade debts | 44 | €1,162 | €4,603 | +€3,440 | +296% |
| Suppliers | 440/4 | €1,162 | €4,603 | +€3,440 | +296% |
| Taxes, remuneration and social security | 45 | €17,074 | €20,417 | +€3,343 | +19.6% |
| Taxes | 450/3 | €14,074 | €17,317 | +€3,243 | +23.0% |
| Remuneration and social security | 454/9 | €3,000 | €3,100 | +€100 | +3.3% |
| Other amounts payable | 47/48 | €144,210 | €144,829 | +€619 | +0.4% |
| Accrued charges and deferred income | 492/3 | €2,164 | €1,184 | -€980 | -45.3% |
| Remuneration, social security and pensions | 62 | €2,756 | €1,466 | -€1,290 | -46.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,773 | €68,021 | -€10,752 | -13.6% |
| Other operating charges | 640/8 | €7,988 | €6,699 | -€1,289 | -16.1% |
| Gross operating margin | 9900 | €150,853 | €138,317 | -€12,536 | -8.3% |
| Operating profit (loss) | 9901 | €61,336 | €62,131 | +€795 | +1.3% |
| Financial income | 75/76B | €260 | €159 | -€101 | -38.8% |
| Recurring financial income | 75 | €260 | €159 | -€101 | -38.8% |
| Financial charges | 65/66B | €23,688 | €21,588 | -€2,100 | -8.9% |
| Recurring financial charges | 65 | €23,688 | €21,588 | -€2,100 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €37,908 | €40,702 | +€2,794 | +7.4% |
| Income taxes | 67/77 | €11,596 | €12,884 | +€1,289 | +11.1% |
| Profit (loss) for the period | 9904 | €26,312 | €27,818 | +€1,505 | +5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,312 | €27,818 | +€1,505 | +5.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.