RGH IMMO: 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.
RGH IMMO
Largest movements
- Tangible fixed assets -€20,314
down €20,314 (-3.9%), from €526,557 to €506,242
of which Land and buildings: -€19,482
- Cash -€17,933
down €17,933 (-53.7%), from €33,424 to €15,490
mainly Debts after one year (-€34,850) and Current portion of long-term debt (-€15,345)
- Debts after one year -€34,850
down €34,850 (-12.0%), from €291,044 to €256,194
of which Financial debts: -€34,850
- Current portion of long-term debt -€15,345
down €15,345 (-30.6%), from €50,194 to €34,850
- Reserves +€7,745
up €7,745 (+3.2%), from €241,945 to €249,690
of which Distributable reserves: +€10,400
- Other debts +€7,709
up €7,709 (+67,861%), from €11 to €7,720
- Gross operating margin +€5,115
up €5,115 (+9.5%), from €53,745 to €58,860
- Taxes -€3,023
down €3,023 (-74.4%), from €4,063 to €1,040
- Financial charges -€2,169
down €2,169 (-13.4%), from €16,209 to €14,040
- Depreciation +€960
up €960 (+3.9%), from €24,913 to €25,873
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.
Derived cash bridge
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 | €620,404 | €588,098 | -€32,306 | -5.2% |
| Fixed assets | 21/28 | €532,732 | €512,417 | -€20,314 | -3.8% |
| Tangible fixed assets | 22/27 | €526,557 | €506,242 | -€20,314 | -3.9% |
| Land and buildings | 22 | €499,947 | €480,465 | -€19,482 | -3.9% |
| Plant, machinery and equipment | 23 | €26,609 | €25,777 | -€832 | -3.1% |
| Financial fixed assets | 28 | €6,175 | €6,175 | = | 0.0% |
| Current assets | 29/58 | €87,672 | €75,681 | -€11,991 | -13.7% |
| Amounts receivable within one year | 40/41 | €54,248 | €60,190 | +€5,942 | +11.0% |
| Trade receivables | 40 | €36,206 | €40,979 | +€4,772 | +13.2% |
| Other amounts receivable | 41 | €18,042 | €19,212 | +€1,170 | +6.5% |
| Cash at bank and in hand | 54/58 | €33,424 | €15,490 | -€17,933 | -53.7% |
| Total equity and liabilities | 10/49 | €620,404 | €588,098 | -€32,306 | -5.2% |
| Equity | 10/15 | €251,976 | €259,773 | +€7,796 | +3.1% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Reserves | 13 | €241,945 | €249,690 | +€7,745 | +3.2% |
| Tax-exempt reserves | 132 | €75,239 | €72,584 | -€2,655 | -3.5% |
| Distributable reserves | 133 | €166,706 | €177,106 | +€10,400 | +6.2% |
| Profit (loss) carried forward | 14 | €8,831 | €8,883 | +€52 | +0.6% |
| Provisions and deferred taxes | 16 | €24,913 | €23,950 | -€962 | -3.9% |
| Deferred taxes | 168 | €24,913 | €23,950 | -€962 | -3.9% |
| Amounts payable | 17/49 | €343,515 | €304,375 | -€39,140 | -11.4% |
| Amounts payable after more than one year | 17 | €291,044 | €256,194 | -€34,850 | -12.0% |
| Financial debts | 170/4 | €285,044 | €250,194 | -€34,850 | -12.2% |
| Other amounts payable | 178/9 | €6,000 | €6,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €52,471 | €48,181 | -€4,290 | -8.2% |
| Current portion of amounts payable after more than one year | 42 | €50,194 | €34,850 | -€15,345 | -30.6% |
| Trade debts | 44 | €1,319 | €5,328 | +€4,009 | +304% |
| Suppliers | 440/4 | €1,319 | €5,328 | +€4,009 | +304% |
| Taxes, remuneration and social security | 45 | €947 | €283 | -€664 | -70.1% |
| Taxes | 450/3 | €947 | €283 | -€664 | -70.1% |
| Other amounts payable | 47/48 | €11 | €7,720 | +€7,709 | +67,861% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,913 | €25,873 | +€960 | +3.9% |
| Other operating charges | 640/8 | €11,136 | €11,074 | -€63 | -0.6% |
| Gross operating margin | 9900 | €53,745 | €58,860 | +€5,115 | +9.5% |
| Operating profit (loss) | 9901 | €17,696 | €21,914 | +€4,218 | +23.8% |
| Financial charges | 65/66B | €16,209 | €14,040 | -€2,169 | -13.4% |
| Recurring financial charges | 65 | €16,209 | €14,040 | -€2,169 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €1,487 | €7,874 | +€6,387 | +430% |
| Transfer from deferred taxes | 780 | €962 | €962 | = | 0.0% |
| Income taxes | 67/77 | €4,063 | €1,040 | -€3,023 | -74.4% |
| Profit (loss) for the period | 9904 | -€1,614 | €7,796 | +€9,410 | |
| Transfer from tax-exempt reserves | 789 | €2,655 | €2,655 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,042 | €10,452 | +€9,410 | +903% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.