RDVR: 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.
RDVR
Largest movements
- Tangible fixed assets -€439,223
down €439,223 (-40.5%), from €1.1m to €645,350
of which Plant, machinery and equipment: -€341,048
- Cash +€39,074
up €39,074 (+4.6%), from €850,991 to €890,065
mainly Depreciation (+€441,036) and Net result for the year (+€211,538)
- Trade debts -€377,086
down €377,086 (-37.7%), from €1.0m to €623,005
- Debts after one year -€246,788
down €246,788 (-18.7%), from €1.3m to €1.1m
- Profit (loss) carried forward +€211,538
up €211,538 (+61.1%), from -€346,423 to -€134,885
- Tax, wage and social debts +€27,091
up €27,091 (+11.0%), from €246,873 to €273,963
of which Remuneration and social security: +€33,980
- Staff costs +€98,634
up €98,634 (+9.3%), from €1.1m to €1.2m
- Other operating charges -€29,969
down €29,969 (-92.0%), from €32,588 to €2,619
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 | €2,535,998 | €2,120,961 | -€415,038 | -16.4% |
| Formation expenses | 20 | €66,214 | €51,741 | -€14,473 | -21.9% |
| Fixed assets | 21/28 | €1,084,574 | €645,350 | -€439,223 | -40.5% |
| Tangible fixed assets | 22/27 | €1,084,574 | €645,350 | -€439,223 | -40.5% |
| Plant, machinery and equipment | 23 | €492,034 | €150,987 | -€341,048 | -69.3% |
| Furniture and vehicles | 24 | €2,144 | €642 | -€1,502 | -70.0% |
| Other tangible fixed assets | 26 | €590,395 | €493,721 | -€96,674 | -16.4% |
| Current assets | 29/58 | €1,385,211 | €1,423,870 | +€38,659 | +2.8% |
| Stocks and contracts in progress | 3 | €435,359 | €439,951 | +€4,592 | +1.1% |
| Stocks | 30/36 | €435,359 | €439,951 | +€4,592 | +1.1% |
| Amounts receivable within one year | 40/41 | €45,377 | €38,627 | -€6,750 | -14.9% |
| Trade receivables | 40 | €24,783 | €38,627 | +€13,844 | +55.9% |
| Other amounts receivable | 41 | €20,594 | €0 | -€20,594 | -100.0% |
| Cash at bank and in hand | 54/58 | €850,991 | €890,065 | +€39,074 | +4.6% |
| Deferred charges and accrued income | 490/1 | €53,484 | €55,227 | +€1,743 | +3.3% |
| Total equity and liabilities | 10/49 | €2,535,998 | €2,120,961 | -€415,038 | -16.4% |
| Equity | 10/15 | -€336,423 | -€124,885 | +€211,538 | +62.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€346,423 | -€134,885 | +€211,538 | +61.1% |
| Amounts payable | 17/49 | €2,872,422 | €2,245,846 | -€626,576 | -21.8% |
| Amounts payable after more than one year | 17 | €1,318,645 | €1,071,857 | -€246,788 | -18.7% |
| Financial debts | 170/4 | €1,318,645 | €1,071,857 | -€246,788 | -18.7% |
| Amounts payable within one year | 42/48 | €1,520,456 | €1,143,757 | -€376,699 | -24.8% |
| Current portion of amounts payable after more than one year | 42 | €254,107 | €246,788 | -€7,318 | -2.9% |
| Financial debts | 43 | €12,679 | €0 | -€12,679 | -100.0% |
| Credit institutions | 430/8 | €12,679 | €0 | -€12,679 | -100.0% |
| Trade debts | 44 | €1,000,091 | €623,005 | -€377,086 | -37.7% |
| Suppliers | 440/4 | €1,000,091 | €623,005 | -€377,086 | -37.7% |
| Advances received on contracts in progress | 46 | €3,392 | €0 | -€3,392 | -100.0% |
| Taxes, remuneration and social security | 45 | €246,873 | €273,963 | +€27,091 | +11.0% |
| Taxes | 450/3 | €101,072 | €94,183 | -€6,889 | -6.8% |
| Remuneration and social security | 454/9 | €145,801 | €179,780 | +€33,980 | +23.3% |
| Other amounts payable | 47/48 | €3,313 | €0 | -€3,313 | -100.0% |
| Accrued charges and deferred income | 492/3 | €33,321 | €30,232 | -€3,089 | -9.3% |
| Non-recurring operating income | 76A | €136,656 | €0 | -€136,656 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,065,939 | €1,164,573 | +€98,634 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €432,668 | €441,036 | +€8,369 | +1.9% |
| Other operating charges | 640/8 | €32,588 | €2,619 | -€29,969 | -92.0% |
| Gross operating margin | 9900 | €1,902,389 | €1,892,847 | -€9,541 | -0.5% |
| Operating profit (loss) | 9901 | €371,194 | €284,619 | -€86,575 | -23.3% |
| Financial income | 75/76B | €1,655 | €3,865 | +€2,210 | +133.5% |
| Recurring financial income | 75 | €1,655 | €3,865 | +€2,210 | +133.5% |
| Financial charges | 65/66B | €55,691 | €59,453 | +€3,762 | +6.8% |
| Recurring financial charges | 65 | €55,691 | €59,453 | +€3,762 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €317,158 | €229,031 | -€88,127 | -27.8% |
| Income taxes | 67/77 | -€305 | €17,493 | +€17,798 | |
| Profit (loss) for the period | 9904 | €317,463 | €211,538 | -€105,925 | -33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €317,463 | €211,538 | -€105,925 | -33.4% |
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 3 October 2026 via checked.be.