RGDA: 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.
What changed
RGDA
NACE 55.100, Hotels and similar accommodation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€43,921
2024 · €408+€43,513
Equity
€988,018
2024 · €975,003+€13,015
Cash
€30,918
2024 · €34,006-€3,088
Balance sheet total
€2.9m
2024 · €3.1m-€135,768
Largest movements
Assets
- Tangible fixed assets -€100,049
down €100,049 (-3.4%), from €2.9m to €2.8m
of which Land and buildings: -€81,123
- Intangible fixed assets -€50,000
down €50,000 (-57.1%), from €87,500 to €37,500
Equity and liabilities
- Debts after one year -€127,142
down €127,142 (-7.0%), from €1.8m to €1.7m
of which Financial debts: -€127,142
- Profit (loss) carried forward +€43,921
up €43,921 (+16.3%), from -€268,765 to -€224,844
Income statement
- Gross operating margin +€74,006
up €74,006 (+23.2%), from €318,624 to €392,630
- Depreciation +€25,452
up €25,452 (+20.4%), from €124,597 to €150,049
- Staff costs +€11,426
up €11,426 (+10.7%), from €106,756 to €118,182
- Financial charges -€4,593
down €4,593 (-8.0%), from €57,520 to €52,926
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.
Result 2024
€408
Gross operating margin
+€74,006
Staff costs
-€11,426
Depreciation
-€25,452
Other operating charges
+€1,842
Financial income
-€51
Financial charges
+€4,593
Result 2025
€43,921
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.
From operations
+€168,628
Investment
€0
Financing
-€171,716
Cash 2024
€34,006
From operations (derived)
+€168,628
Net result for the year
+€43,921
Depreciation
+€150,049
Receivables within one year
-€15,033
Deferred charges and accrued income
-€2,336
Provisions
-€1,818
Trade debts
-€14,429
Tax, wage and social debts
+€10,282
Other debts
-€2,000
Accrued charges and deferred income
-€8
Financing
-€171,716
Debts after one year
-€127,142
Current portion of long-term debt
-€13,668
Contributions, distributions and other
-€30,906
Cash 2025
€30,918
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,067,928 | €2,932,160 | -€135,768 | -4.4% |
| Fixed assets | 21/28 | €3,032,221 | €2,882,173 | -€150,049 | -4.9% |
| Intangible fixed assets | 21 | €87,500 | €37,500 | -€50,000 | -57.1% |
| Tangible fixed assets | 22/27 | €2,944,542 | €2,844,493 | -€100,049 | -3.4% |
| Land and buildings | 22 | €2,828,037 | €2,746,914 | -€81,123 | -2.9% |
| Plant, machinery and equipment | 23 | €110,997 | €94,464 | -€16,533 | -14.9% |
| Furniture and vehicles | 24 | €5,508 | €3,115 | -€2,393 | -43.4% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €35,706 | €49,987 | +€14,281 | +40.0% |
| Amounts receivable within one year | 40/41 | €1,701 | €16,734 | +€15,033 | +884.0% |
| Trade receivables | 40 | €1,701 | €16,734 | +€15,033 | +884.0% |
| Cash at bank and in hand | 54/58 | €34,006 | €30,918 | -€3,088 | -9.1% |
| Deferred charges and accrued income | 490/1 | - | €2,336 | +€2,336 | |
| Total equity and liabilities | 10/49 | €3,067,928 | €2,932,160 | -€135,768 | -4.4% |
| Equity | 10/15 | €975,003 | €988,018 | +€13,015 | +1.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Revaluation surpluses | 12 | €1,050,000 | €1,024,548 | -€25,452 | -2.4% |
| Profit (loss) carried forward | 14 | -€268,765 | -€224,844 | +€43,921 | +16.3% |
| Investment grants | 15 | €181,368 | €175,914 | -€5,454 | -3.0% |
| Provisions and deferred taxes | 16 | €60,456 | €58,638 | -€1,818 | -3.0% |
| Deferred taxes | 168 | €60,456 | €58,638 | -€1,818 | -3.0% |
| Amounts payable | 17/49 | €2,032,469 | €1,885,504 | -€146,965 | -7.2% |
| Amounts payable after more than one year | 17 | €1,811,093 | €1,683,950 | -€127,142 | -7.0% |
| Financial debts | 170/4 | €1,808,008 | €1,680,865 | -€127,142 | -7.0% |
| Other amounts payable | 178/9 | €3,085 | €3,085 | = | 0.0% |
| Amounts payable within one year | 42/48 | €208,419 | €188,604 | -€19,815 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €140,810 | €127,142 | -€13,668 | -9.7% |
| Trade debts | 44 | €26,372 | €11,943 | -€14,429 | -54.7% |
| Suppliers | 440/4 | €26,372 | €11,943 | -€14,429 | -54.7% |
| Taxes, remuneration and social security | 45 | €18,072 | €28,354 | +€10,282 | +56.9% |
| Taxes | 450/3 | €2,496 | €4,987 | +€2,492 | +99.8% |
| Remuneration and social security | 454/9 | €15,577 | €23,367 | +€7,791 | +50.0% |
| Other amounts payable | 47/48 | €23,164 | €21,164 | -€2,000 | -8.6% |
| Accrued charges and deferred income | 492/3 | €12,958 | €12,950 | -€8 | -0.1% |
| Remuneration, social security and pensions | 62 | €106,756 | €118,182 | +€11,426 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,597 | €150,049 | +€25,452 | +20.4% |
| Other operating charges | 640/8 | €36,676 | €34,834 | -€1,842 | -5.0% |
| Gross operating margin | 9900 | €318,624 | €392,630 | +€74,006 | +23.2% |
| Operating profit (loss) | 9901 | €50,596 | €89,566 | +€38,970 | +77.0% |
| Financial income | 75/76B | €5,514 | €5,463 | -€51 | -0.9% |
| Recurring financial income | 75 | €5,514 | €5,463 | -€51 | -0.9% |
| Financial charges | 65/66B | €57,520 | €52,926 | -€4,593 | -8.0% |
| Recurring financial charges | 65 | €57,520 | €52,926 | -€4,593 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,410 | €42,103 | +€43,513 | |
| Transfer from deferred taxes | 780 | €1,818 | €1,818 | = | 0.0% |
| Profit (loss) for the period | 9904 | €408 | €43,921 | +€43,513 | +10654.7% |
| Profit (loss) for the period to be appropriated | 9905 | €408 | €43,921 | +€43,513 | +10654.7% |
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 28 September 2026 via checked.be.