RGB: 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.
RGB
Largest movements
- Receivables within one year -€290,711
down €290,711 (-51.1%), from €568,825 to €278,113
of which Trade receivables: -€311,308
- Tangible fixed assets +€240,924
up €240,924 (+97.2%), from €247,892 to €488,816
of which Land and buildings: +€230,536
- Cash +€143,587
up €143,587 (+656.9%), from €21,858 to €165,445
mainly Receivables within one year (+€290,711) and Debts after one year (+€121,031)
- Accrued charges and deferred income -€158,492
down €158,492 (-85.8%), from €184,729 to €26,236
- Debts after one year +€121,031
up €121,031 (+70.4%), from €171,990 to €293,021
- Reserves +€70,626
up €70,626 (+25.4%), from €278,471 to €349,097
- Trade debts +€23,634
up €23,634 (+36.4%), from €64,846 to €88,479
- Tax, wage and social debts +€19,374
up €19,374 (+30.6%), from €63,309 to €82,683
of which Taxes: +€24,361
- Gross operating margin -€70,906
down €70,906 (-19.3%), from €367,456 to €296,550
- Other operating charges -€53,839
down €53,839 (-75.9%), from €70,955 to €17,117
- Staff costs +€19,768
up €19,768 (+21.3%), from €92,815 to €112,583
- Taxes -€19,389
down €19,389 (-40.1%), from €48,332 to €28,943
- Depreciation +€18,308
up €18,308 (+37.1%), from €49,413 to €67,721
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 | €846,505 | €943,989 | +€97,485 | +11.5% |
| Fixed assets | 21/28 | €249,292 | €492,428 | +€243,137 | +97.5% |
| Intangible fixed assets | 21 | - | €2,213 | +€2,213 | |
| Tangible fixed assets | 22/27 | €247,892 | €488,816 | +€240,924 | +97.2% |
| Land and buildings | 22 | €219,375 | €449,911 | +€230,536 | +105.1% |
| Plant, machinery and equipment | 23 | €3,500 | €6,920 | +€3,419 | +97.7% |
| Furniture and vehicles | 24 | €10,124 | €31,114 | +€20,990 | +207.3% |
| Leasing and similar rights | 25 | €13,921 | - | -€13,921 | |
| Other tangible fixed assets | 26 | €971 | €871 | -€100 | -10.3% |
| Financial fixed assets | 28 | €1,400 | €1,400 | = | 0.0% |
| Current assets | 29/58 | €597,213 | €451,561 | -€145,652 | -24.4% |
| Amounts receivable within one year | 40/41 | €568,825 | €278,113 | -€290,711 | -51.1% |
| Trade receivables | 40 | €391,691 | €80,383 | -€311,308 | -79.5% |
| Other amounts receivable | 41 | €177,134 | €197,731 | +€20,596 | +11.6% |
| Cash at bank and in hand | 54/58 | €21,858 | €165,445 | +€143,587 | +656.9% |
| Deferred charges and accrued income | 490/1 | €6,531 | €8,003 | +€1,472 | +22.5% |
| Total equity and liabilities | 10/49 | €846,505 | €943,989 | +€97,485 | +11.5% |
| Equity | 10/15 | €286,531 | €357,157 | +€70,626 | +24.6% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €278,471 | €349,097 | +€70,626 | +25.4% |
| Distributable reserves | 133 | €278,471 | €349,097 | +€70,626 | +25.4% |
| Amounts payable | 17/49 | €559,974 | €586,832 | +€26,859 | +4.8% |
| Amounts payable after more than one year | 17 | €171,990 | €293,021 | +€121,031 | +70.4% |
| Financial debts | 170/4 | €171,990 | €293,021 | +€121,031 | +70.4% |
| Amounts payable within one year | 42/48 | €203,255 | €267,575 | +€64,320 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | €55,745 | €62,177 | +€6,432 | +11.5% |
| Trade debts | 44 | €64,846 | €88,479 | +€23,634 | +36.4% |
| Suppliers | 440/4 | €64,846 | €88,479 | +€23,634 | +36.4% |
| Taxes, remuneration and social security | 45 | €63,309 | €82,683 | +€19,374 | +30.6% |
| Taxes | 450/3 | €54,478 | €78,839 | +€24,361 | +44.7% |
| Remuneration and social security | 454/9 | €8,832 | €3,844 | -€4,987 | -56.5% |
| Other amounts payable | 47/48 | €19,355 | €34,235 | +€14,880 | +76.9% |
| Accrued charges and deferred income | 492/3 | €184,729 | €26,236 | -€158,492 | -85.8% |
| Remuneration, social security and pensions | 62 | €92,815 | €112,583 | +€19,768 | +21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,413 | €67,721 | +€18,308 | +37.1% |
| Other operating charges | 640/8 | €70,955 | €17,117 | -€53,839 | -75.9% |
| Gross operating margin | 9900 | €367,456 | €296,550 | -€70,906 | -19.3% |
| Operating profit (loss) | 9901 | €154,273 | €99,130 | -€55,144 | -35.7% |
| Financial income | 75/76B | €9,736 | €10,801 | +€1,065 | +10.9% |
| Recurring financial income | 75 | €9,736 | €10,801 | +€1,065 | +10.9% |
| Financial charges | 65/66B | €9,873 | €10,363 | +€490 | +5.0% |
| Recurring financial charges | 65 | €9,873 | €10,363 | +€490 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €154,137 | €99,568 | -€54,569 | -35.4% |
| Income taxes | 67/77 | €48,332 | €28,943 | -€19,389 | -40.1% |
| Profit (loss) for the period | 9904 | €105,805 | €70,626 | -€35,180 | -33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €105,805 | €70,626 | -€35,180 | -33.2% |
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 30 September 2026 via checked.be.