RGM MANAGEMENT: 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.
RGM MANAGEMENT
Largest movements
- Current investments +€25,000
up €25,000 (+13.9%), from €180,000 to €205,000
- Receivables within one year -€23,539
no longer reported in 2025 (was €23,539)
- Deferred charges and accrued income +€11,979
up €11,979 (+382%), from €3,137 to €15,116
- Tangible fixed assets -€8,155
down €8,155 (-5.5%), from €149,408 to €141,253
of which Furniture and vehicles: -€21,691
- Cash +€7,839
up €7,839 (+19.6%), from €40,007 to €47,847
mainly Net result for the year (+€39,329) and Depreciation (+€35,242)
- Reserves +€39,329
up €39,329 (+15.4%), from €255,193 to €294,521
- Debts after one year -€21,165
down €21,165 (-37.7%), from €56,088 to €34,923
- Tax, wage and social debts -€16,757
down €16,757 (-52.1%), from €32,159 to €15,402
- Other debts +€4,995
up €4,995 (+33.7%), from €14,825 to €19,820
- Current portion of long-term debt +€4,905
up €4,905 (+40.5%), from €12,124 to €17,029
- Gross operating margin -€46,547
down €46,547 (-32.4%), from €143,448 to €96,901
- Financial charges -€15,449
down €15,449 (-77.6%), from €19,907 to €4,458
- Financial income +€5,699
up €5,699 (+2,154%), from €265 to €5,964
- Taxes -€5,645
down €5,645 (-22.4%), from €25,157 to €19,512
- Other operating charges +€1,812
up €1,812 (+72.1%), from €2,512 to €4,323
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 | €396,091 | €409,216 | +€13,125 | +3.3% |
| Fixed assets | 21/28 | €149,408 | €141,253 | -€8,155 | -5.5% |
| Tangible fixed assets | 22/27 | €149,408 | €141,253 | -€8,155 | -5.5% |
| Land and buildings | 22 | €29,142 | €21,473 | -€7,669 | -26.3% |
| Plant, machinery and equipment | 23 | €9,625 | €8,978 | -€646 | -6.7% |
| Furniture and vehicles | 24 | €88,805 | €67,114 | -€21,691 | -24.4% |
| Other tangible fixed assets | 26 | €21,836 | €43,688 | +€21,851 | +100% |
| Current assets | 29/58 | €246,683 | €267,963 | +€21,280 | +8.6% |
| Amounts receivable within one year | 40/41 | €23,539 | - | -€23,539 | |
| Trade receivables | 40 | €23,539 | - | -€23,539 | |
| Current investments | 50/53 | €180,000 | €205,000 | +€25,000 | +13.9% |
| Cash at bank and in hand | 54/58 | €40,007 | €47,847 | +€7,839 | +19.6% |
| Deferred charges and accrued income | 490/1 | €3,137 | €15,116 | +€11,979 | +382% |
| Total equity and liabilities | 10/49 | €396,091 | €409,216 | +€13,125 | +3.3% |
| Equity | 10/15 | €279,168 | €318,497 | +€39,329 | +14.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €255,193 | €294,521 | +€39,329 | +15.4% |
| Distributable reserves | 133 | €255,193 | €294,521 | +€39,329 | +15.4% |
| Profit (loss) carried forward | 14 | €5,375 | €5,375 | = | 0.0% |
| Amounts payable | 17/49 | €116,923 | €90,719 | -€26,204 | -22.4% |
| Amounts payable after more than one year | 17 | €56,088 | €34,923 | -€21,165 | -37.7% |
| Financial debts | 170/4 | €56,088 | €34,923 | -€21,165 | -37.7% |
| Amounts payable within one year | 42/48 | €59,868 | €54,798 | -€5,070 | -8.5% |
| Current portion of amounts payable after more than one year | 42 | €12,124 | €17,029 | +€4,905 | +40.5% |
| Trade debts | 44 | €759 | €2,546 | +€1,787 | +236% |
| Suppliers | 440/4 | €759 | €2,546 | +€1,787 | +236% |
| Taxes, remuneration and social security | 45 | €32,159 | €15,402 | -€16,757 | -52.1% |
| Taxes | 450/3 | €32,159 | €15,402 | -€16,757 | -52.1% |
| Other amounts payable | 47/48 | €14,825 | €19,820 | +€4,995 | +33.7% |
| Accrued charges and deferred income | 492/3 | €968 | €998 | +€31 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,585 | €35,242 | +€658 | +1.9% |
| Other operating charges | 640/8 | €2,512 | €4,323 | +€1,812 | +72.1% |
| Gross operating margin | 9900 | €143,448 | €96,901 | -€46,547 | -32.4% |
| Operating profit (loss) | 9901 | €106,351 | €57,335 | -€49,016 | -46.1% |
| Financial income | 75/76B | €265 | €5,964 | +€5,699 | +2,154% |
| Recurring financial income | 75 | €265 | €5,964 | +€5,699 | +2,154% |
| Financial charges | 65/66B | €19,907 | €4,458 | -€15,449 | -77.6% |
| Recurring financial charges | 65 | €19,907 | €4,458 | -€15,449 | -77.6% |
| Profit (loss) for the period before taxes | 9903 | €86,709 | €58,840 | -€27,869 | -32.1% |
| Income taxes | 67/77 | €25,157 | €19,512 | -€5,645 | -22.4% |
| Profit (loss) for the period | 9904 | €61,552 | €39,329 | -€22,223 | -36.1% |
| Profit (loss) for the period to be appropriated | 9905 | €61,552 | €39,329 | -€22,223 | -36.1% |
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 28 October 2026 via checked.be.