RDW SERVICES: 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.
RDW SERVICES
Largest movements
- Receivables within one year +€89,749
up €89,749 (+70.5%), from €127,220 to €216,968
of which Trade receivables: +€92,232
- Cash -€26,789
down €26,789 (-48.1%), from €55,723 to €28,934
mainly Receivables within one year (-€89,749) and Debts after one year (-€7,365)
- Tangible fixed assets -€10,921
down €10,921 (-53.7%), from €20,339 to €9,418
- Other debts +€21,920
up €21,920 (+48.6%), from €45,094 to €67,015
- Trade debts +€21,680
up €21,680 (+10.4%), from €208,412 to €230,092
- Profit (loss) carried forward +€18,590
up €18,590 (+7.3%), from -€254,917 to -€236,327
- Tax, wage and social debts +€10,776
up €10,776 (+53.4%), from €20,191 to €30,966
of which Taxes: +€10,776
- Debts after one year -€7,365
down €7,365 (-66.1%), from €11,144 to €3,779
- Gross operating margin -€54,696
down €54,696 (-51.4%), from €106,449 to €51,753
- Write-downs -€54,585
down €54,585, from €24,097 to -€30,487
- Other operating charges +€36,460
up €36,460 (+1313.0%), from €2,777 to €39,237
- Depreciation -€6,815
down €6,815 (-61.0%), from €11,179 to €4,363
- Taxes -€1,202
down €1,202 (-61.1%), from €1,967 to €765
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 | €207,970 | €259,847 | +€51,877 | +24.9% |
| Fixed assets | 21/28 | €22,589 | €11,668 | -€10,921 | -48.3% |
| Tangible fixed assets | 22/27 | €20,339 | €9,418 | -€10,921 | -53.7% |
| Furniture and vehicles | 24 | €20,339 | €9,418 | -€10,921 | -53.7% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €185,381 | €248,179 | +€62,798 | +33.9% |
| Amounts receivable within one year | 40/41 | €127,220 | €216,968 | +€89,749 | +70.5% |
| Trade receivables | 40 | €122,764 | €214,996 | +€92,232 | +75.1% |
| Other amounts receivable | 41 | €4,456 | €1,972 | -€2,484 | -55.7% |
| Cash at bank and in hand | 54/58 | €55,723 | €28,934 | -€26,789 | -48.1% |
| Deferred charges and accrued income | 490/1 | €2,438 | €2,276 | -€162 | -6.6% |
| Total equity and liabilities | 10/49 | €207,970 | €259,847 | +€51,877 | +24.9% |
| Equity | 10/15 | -€219,497 | -€200,907 | +€18,590 | +8.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €29,221 | €29,221 | = | 0.0% |
| Distributable reserves | 133 | €29,221 | €29,221 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€254,917 | -€236,327 | +€18,590 | +7.3% |
| Amounts payable | 17/49 | €427,467 | €460,754 | +€33,287 | +7.8% |
| Amounts payable after more than one year | 17 | €11,144 | €3,779 | -€7,365 | -66.1% |
| Financial debts | 170/4 | €11,144 | €3,779 | -€7,365 | -66.1% |
| Amounts payable within one year | 42/48 | €416,323 | €456,975 | +€40,652 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | €13,501 | €7,365 | -€6,137 | -45.5% |
| Financial debts | 43 | €125,000 | €121,538 | -€3,462 | -2.8% |
| Credit institutions | 430/8 | €125,000 | €121,538 | -€3,462 | -2.8% |
| Trade debts | 44 | €208,412 | €230,092 | +€21,680 | +10.4% |
| Suppliers | 440/4 | €208,412 | €230,092 | +€21,680 | +10.4% |
| Advances received on contracts in progress | 46 | €4,125 | - | -€4,125 | |
| Taxes, remuneration and social security | 45 | €20,191 | €30,966 | +€10,776 | +53.4% |
| Taxes | 450/3 | €19,191 | €29,966 | +€10,776 | +56.2% |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Other amounts payable | 47/48 | €45,094 | €67,015 | +€21,920 | +48.6% |
| Non-recurring operating income | 76A | €133,139 | €7,693 | -€125,447 | -94.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,179 | €4,363 | -€6,815 | -61.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €24,097 | -€30,487 | -€54,585 | |
| Other operating charges | 640/8 | €2,777 | €39,237 | +€36,460 | +1313.0% |
| Non-recurring operating charges | 66A | - | €392 | +€392 | |
| Gross operating margin | 9900 | €106,449 | €51,753 | -€54,696 | -51.4% |
| Operating profit (loss) | 9901 | €68,396 | €38,247 | -€30,149 | -44.1% |
| Financial income | 75/76B | €966 | €490 | -€476 | -49.3% |
| Recurring financial income | 75 | €966 | €490 | -€476 | -49.3% |
| Financial charges | 65/66B | €19,954 | €19,383 | -€572 | -2.9% |
| Recurring financial charges | 65 | €19,954 | €19,383 | -€572 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €49,408 | €19,355 | -€30,053 | -60.8% |
| Income taxes | 67/77 | €1,967 | €765 | -€1,202 | -61.1% |
| Profit (loss) for the period | 9904 | €47,441 | €18,590 | -€28,852 | -60.8% |
| Profit (loss) for the period to be appropriated | 9905 | €47,441 | €18,590 | -€28,852 | -60.8% |
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 8 October 2026 via checked.be.