RM DEVELOPPEMENT: 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.
RM DEVELOPPEMENT
Largest movements
- Tangible fixed assets +€991,801
up €991,801 (+149%), from €665,033 to €1.7m
of which Land and buildings: +€952,208
- Stocks and contracts +€273,395
new in 2025: €273,395
- Receivables within one year +€78,431
up €78,431 (+281%), from €27,886 to €106,317
of which Trade receivables: +€104,952
- Short-term financial debts +€797,389
up €797,389 (+333%), from €239,448 to €1.0m
- Revaluation surpluses +€494,211
new in 2025: €494,211
- Profit (loss) carried forward -€97,903
down €97,903 (-53.0%), from -€184,595 to -€282,498
- Trade debts +€73,641
up €73,641 (+355%), from €20,736 to €94,377
- Debts after one year +€36,163
up €36,163 (+8.6%), from €419,463 to €455,625
of which Financial debts: +€25,563
- Other operating charges +€80,855
up €80,855 (+671%), from €12,051 to €92,905
- Gross operating margin +€76,874
up €76,874, from -€9,586 to €67,288
- Depreciation +€16,965
up €16,965 (+97.5%), from €17,392 to €34,357
- Financial charges +€13,966
up €13,966 (+58.3%), from €23,968 to €37,934
- Write-downs -€1,240
no longer reported in 2025 (was €1,240)
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 | €693,456 | €2,043,831 | +€1.4m | +195% |
| Fixed assets | 21/28 | €665,033 | €1,656,834 | +€991,801 | +149% |
| Tangible fixed assets | 22/27 | €665,033 | €1,656,834 | +€991,801 | +149% |
| Land and buildings | 22 | €665,033 | €1,617,241 | +€952,208 | +143% |
| Plant, machinery and equipment | 23 | - | €9,813 | +€9,813 | |
| Furniture and vehicles | 24 | - | €29,780 | +€29,780 | |
| Current assets | 29/58 | €28,422 | €386,997 | +€358,575 | +1,262% |
| Stocks and contracts in progress | 3 | - | €273,395 | +€273,395 | |
| Stocks | 30/36 | - | €273,395 | +€273,395 | |
| Amounts receivable within one year | 40/41 | €27,886 | €106,317 | +€78,431 | +281% |
| Trade receivables | 40 | €1,183 | €106,135 | +€104,952 | +8,870% |
| Other amounts receivable | 41 | €26,702 | €182 | -€26,520 | -99.3% |
| Cash at bank and in hand | 54/58 | €16 | €7,188 | +€7,172 | +45,137% |
| Deferred charges and accrued income | 490/1 | €521 | €97 | -€424 | -81.4% |
| Total equity and liabilities | 10/49 | €693,456 | €2,043,831 | +€1.4m | +195% |
| Equity | 10/15 | -€108,395 | €287,913 | +€396,308 | |
| Contributions | 10/11 | €76,200 | €76,200 | = | 0.0% |
| Revaluation surpluses | 12 | - | €494,211 | +€494,211 | |
| Profit (loss) carried forward | 14 | -€184,595 | -€282,498 | -€97,903 | -53.0% |
| Amounts payable | 17/49 | €801,850 | €1,755,917 | +€954,067 | +119% |
| Amounts payable after more than one year | 17 | €419,463 | €455,625 | +€36,163 | +8.6% |
| Financial debts | 170/4 | €419,463 | €445,025 | +€25,563 | +6.1% |
| Other amounts payable | 178/9 | - | €10,600 | +€10,600 | |
| Amounts payable within one year | 42/48 | €382,388 | €1,286,651 | +€904,263 | +236% |
| Current portion of amounts payable after more than one year | 42 | €29,076 | €32,190 | +€3,114 | +10.7% |
| Financial debts | 43 | €239,448 | €1,036,837 | +€797,389 | +333% |
| Credit institutions | 430/8 | €239,448 | €1,036,837 | +€797,389 | +333% |
| Trade debts | 44 | €20,736 | €94,377 | +€73,641 | +355% |
| Suppliers | 440/4 | €20,736 | €94,377 | +€73,641 | +355% |
| Taxes, remuneration and social security | 45 | - | €14,214 | +€14,214 | |
| Taxes | 450/3 | - | €14,214 | +€14,214 | |
| Other amounts payable | 47/48 | €93,128 | €109,034 | +€15,906 | +17.1% |
| Accrued charges and deferred income | 492/3 | - | €13,641 | +€13,641 | |
| Non-recurring operating income | 76A | €12,795 | €1,524 | -€11,271 | -88.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,392 | €34,357 | +€16,965 | +97.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,240 | - | -€1,240 | |
| Other operating charges | 640/8 | €12,051 | €92,905 | +€80,855 | +671% |
| Gross operating margin | 9900 | -€9,586 | €67,288 | +€76,874 | |
| Operating profit (loss) | 9901 | -€40,269 | -€59,975 | -€19,706 | -48.9% |
| Financial income | 75/76B | €464 | €6 | -€458 | -98.7% |
| Recurring financial income | 75 | €464 | €6 | -€458 | -98.7% |
| Financial charges | 65/66B | €23,968 | €37,934 | +€13,966 | +58.3% |
| Recurring financial charges | 65 | €23,968 | €37,934 | +€13,966 | +58.3% |
| Profit (loss) for the period before taxes | 9903 | -€63,772 | -€97,903 | -€34,130 | -53.5% |
| Profit (loss) for the period | 9904 | -€63,772 | -€97,903 | -€34,130 | -53.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€63,772 | -€97,903 | -€34,130 | -53.5% |
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 24 October 2026 via checked.be.