RDW Group: 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.
RDW Group
Largest movements
- Cash -€42,993
down €42,993 (-81.1%), from €53,019 to €10,025
mainly Trade debts (-€81,449) and Tax, wage and social debts (-€488)
- Receivables within one year -€13,860
down €13,860 (-11.8%), from €117,502 to €103,643
of which Other amounts receivable: -€8,726
- Tangible fixed assets -€12,055
down €12,055 (-43.4%), from €27,759 to €15,703
of which Plant, machinery and equipment: -€10,119
- Stocks and contracts -€6,512
no longer reported in 2025 (was €6,512)
- Deferred charges and accrued income -€4,235
down €4,235 (-45.6%), from €9,287 to €5,052
- Trade debts -€81,449
down €81,449 (-39.6%), from €205,699 to €124,250
- Gross operating margin -€8,096
down €8,096 (-52.2%), from €15,520 to €7,424
- Depreciation -€5,636
down €5,636 (-57.9%), from €9,730 to €4,095
- Financial income -€2,556
down €2,556 (-91.6%), from €2,792 to €236
- Taxes -€1,776
down €1,776 (-91.5%), from €1,942 to €166
- Financial charges -€877
down €877 (-26.3%), from €3,329 to €2,453
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 | €218,979 | €138,173 | -€80,806 | -36.9% |
| Fixed assets | 21/28 | €32,659 | €19,453 | -€13,205 | -40.4% |
| Tangible fixed assets | 22/27 | €27,759 | €15,703 | -€12,055 | -43.4% |
| Plant, machinery and equipment | 23 | €11,524 | €1,405 | -€10,119 | -87.8% |
| Furniture and vehicles | 24 | €4,099 | €3,581 | -€519 | -12.7% |
| Other tangible fixed assets | 26 | €12,135 | €10,718 | -€1,418 | -11.7% |
| Financial fixed assets | 28 | €4,900 | €3,750 | -€1,150 | -23.5% |
| Current assets | 29/58 | €186,320 | €118,720 | -€67,600 | -36.3% |
| Stocks and contracts in progress | 3 | €6,512 | - | -€6,512 | |
| Stocks | 30/36 | €6,512 | - | -€6,512 | |
| Amounts receivable within one year | 40/41 | €117,502 | €103,643 | -€13,860 | -11.8% |
| Trade receivables | 40 | €103,377 | €98,243 | -€5,134 | -5.0% |
| Other amounts receivable | 41 | €14,126 | €5,400 | -€8,726 | -61.8% |
| Cash at bank and in hand | 54/58 | €53,019 | €10,025 | -€42,993 | -81.1% |
| Deferred charges and accrued income | 490/1 | €9,287 | €5,052 | -€4,235 | -45.6% |
| Total equity and liabilities | 10/49 | €218,979 | €138,173 | -€80,806 | -36.9% |
| Equity | 10/15 | €8,698 | €8,791 | +€92 | +1.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €5,698 | €5,791 | +€92 | +1.6% |
| Distributable reserves | 133 | €5,698 | €5,791 | +€92 | +1.6% |
| Amounts payable | 17/49 | €210,281 | €129,383 | -€80,898 | -38.5% |
| Amounts payable within one year | 42/48 | €210,281 | €129,383 | -€80,898 | -38.5% |
| Trade debts | 44 | €205,699 | €124,250 | -€81,449 | -39.6% |
| Suppliers | 440/4 | €205,699 | €124,250 | -€81,449 | -39.6% |
| Taxes, remuneration and social security | 45 | €2,175 | €1,687 | -€488 | -22.4% |
| Taxes | 450/3 | €2,175 | €1,687 | -€488 | -22.4% |
| Other amounts payable | 47/48 | €2,406 | €3,446 | +€1,040 | +43.2% |
| Non-recurring operating income | 76A | - | €3,833 | +€3,833 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,730 | €4,095 | -€5,636 | -57.9% |
| Other operating charges | 640/8 | €792 | €854 | +€62 | +7.9% |
| Gross operating margin | 9900 | €15,520 | €7,424 | -€8,096 | -52.2% |
| Operating profit (loss) | 9901 | €4,998 | €2,475 | -€2,523 | -50.5% |
| Financial income | 75/76B | €2,792 | €236 | -€2,556 | -91.6% |
| Recurring financial income | 75 | €2,792 | €236 | -€2,556 | -91.6% |
| Financial charges | 65/66B | €3,329 | €2,453 | -€877 | -26.3% |
| Recurring financial charges | 65 | €3,329 | €2,453 | -€877 | -26.3% |
| Profit (loss) for the period before taxes | 9903 | €4,461 | €258 | -€4,202 | -94.2% |
| Income taxes | 67/77 | €1,942 | €166 | -€1,776 | -91.5% |
| Profit (loss) for the period | 9904 | €2,519 | €92 | -€2,426 | -96.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,519 | €92 | -€2,426 | -96.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.