RJS 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.
RJS MANAGEMENT
Largest movements
- Cash -€28,612
down €28,612 (-37.9%), from €75,462 to €46,851
mainly Contributions, distributions and other (-€34,350) and Receivables within one year (-€21,099)
- Receivables within one year +€21,099
up €21,099 (+130%), from €16,285 to €37,384
of which Trade receivables: +€27,972
- Financial fixed assets -€3,000
down €3,000 (-37.2%), from €8,075 to €5,075
- Intangible fixed assets -€2,400
down €2,400 (-54.4%), from €4,412 to €2,012
- Deferred charges and accrued income -€1,125
down €1,125 (-68.7%), from €1,638 to €513
- Reserves -€33,169
down €33,169 (-37.7%), from €88,060 to €54,891
- Other debts +€13,449
up €13,449, from €0 to €13,449
- Short-term financial debts +€4,240
new in 2025: €4,240
- Trade debts +€2,012
up €2,012 (+189%), from €1,062 to €3,074
- Gross operating margin -€58,426
down €58,426 (-82.1%), from €71,206 to €12,780
- Taxes -€14,359
down €14,359 (-78.8%), from €18,227 to €3,869
- Other operating charges -€4,742
down €4,742 (-84.5%), from €5,614 to €872
- Financial income -€1,369
down €1,369 (-100%), from €1,369 to €0
- Financial charges +€1,026
up €1,026 (+33.7%), from €3,047 to €4,073
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 | €106,726 | €92,303 | -€14,423 | -13.5% |
| Fixed assets | 21/28 | €13,340 | €7,555 | -€5,785 | -43.4% |
| Intangible fixed assets | 21 | €4,412 | €2,012 | -€2,400 | -54.4% |
| Tangible fixed assets | 22/27 | €853 | €468 | -€385 | -45.1% |
| Furniture and vehicles | 24 | €853 | €468 | -€385 | -45.1% |
| Financial fixed assets | 28 | €8,075 | €5,075 | -€3,000 | -37.2% |
| Current assets | 29/58 | €93,386 | €84,748 | -€8,638 | -9.2% |
| Amounts receivable within one year | 40/41 | €16,285 | €37,384 | +€21,099 | +130% |
| Trade receivables | 40 | €7,516 | €35,488 | +€27,972 | +372% |
| Other amounts receivable | 41 | €8,769 | €1,896 | -€6,873 | -78.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €75,462 | €46,851 | -€28,612 | -37.9% |
| Deferred charges and accrued income | 490/1 | €1,638 | €513 | -€1,125 | -68.7% |
| Total equity and liabilities | 10/49 | €106,726 | €92,303 | -€14,423 | -13.5% |
| Equity | 10/15 | €94,489 | €61,320 | -€33,169 | -35.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €88,060 | €54,891 | -€33,169 | -37.7% |
| Distributable reserves | 133 | €88,060 | €54,891 | -€33,169 | -37.7% |
| Profit (loss) carried forward | 14 | €229 | €229 | = | 0.0% |
| Amounts payable | 17/49 | €12,237 | €30,983 | +€18,746 | +153% |
| Amounts payable within one year | 42/48 | €12,237 | €30,983 | +€18,746 | +153% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | - | €4,240 | +€4,240 | |
| Credit institutions | 430/8 | - | €4,240 | +€4,240 | |
| Trade debts | 44 | €1,062 | €3,074 | +€2,012 | +189% |
| Suppliers | 440/4 | €1,062 | €3,074 | +€2,012 | +189% |
| Taxes, remuneration and social security | 45 | €11,174 | €10,219 | -€955 | -8.5% |
| Taxes | 450/3 | €11,174 | €10,219 | -€955 | -8.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €13,449 | +€13,449 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,936 | €2,785 | -€151 | -5.2% |
| Other operating charges | 640/8 | €5,614 | €872 | -€4,742 | -84.5% |
| Gross operating margin | 9900 | €71,206 | €12,780 | -€58,426 | -82.1% |
| Operating profit (loss) | 9901 | €62,655 | €9,123 | -€53,533 | -85.4% |
| Financial income | 75/76B | €1,369 | €0 | -€1,369 | -100% |
| Recurring financial income | 75 | €1,369 | €0 | -€1,369 | -100% |
| Financial charges | 65/66B | €3,047 | €4,073 | +€1,026 | +33.7% |
| Recurring financial charges | 65 | €3,047 | €4,073 | +€1,026 | +33.7% |
| Profit (loss) for the period before taxes | 9903 | €60,977 | €5,049 | -€55,928 | -91.7% |
| Income taxes | 67/77 | €18,227 | €3,869 | -€14,359 | -78.8% |
| Profit (loss) for the period | 9904 | €42,750 | €1,181 | -€41,569 | -97.2% |
| Profit (loss) for the period to be appropriated | 9905 | €42,750 | €1,181 | -€41,569 | -97.2% |
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 15 October 2026 via checked.be.