RM-PROJECTS: 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-PROJECTS
Largest movements
- Cash -€280,852
down €280,852 (-98.8%), from €284,167 to €3,314
mainly Current investments (-€200,000) and Investment in fixed assets (net) (-€131,019)
- Current investments +€200,000
new in 2025: €200,000
- Tangible fixed assets +€114,355
up €114,355 (+15,747%), from €726 to €115,081
of which Leasing and similar rights: +€109,332
- Receivables within one year +€5,546
up €5,546 (+39.4%), from €14,073 to €19,619
- Debts after one year +€64,380
up €64,380, from €0 to €64,380
- Profit (loss) carried forward -€51,835
down €51,835 (-9.3%), from -€559,819 to -€611,654
- Current portion of long-term debt +€26,199
up €26,199, from €0 to €26,199
- Financial income -€832,601
down €832,601 (-99.9%), from €833,582 to €981
of which Non-recurring financial income: -€833,582
- Financial charges -€660,024
down €660,024 (-99.3%), from €664,615 to €4,591
of which Non-recurring financial charges: -€660,000
- Gross operating margin +€40,067
up €40,067 (+64.2%), from -€62,392 to -€22,325
- Write-downs +€25,267
up €25,267, from -€25,267 to €0
- Other operating charges -€17,691
down €17,691 (-66.2%), from €26,728 to €9,036
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 | €302,210 | €338,644 | +€36,434 | +12.1% |
| Fixed assets | 21/28 | €726 | €115,081 | +€114,355 | +15,747% |
| Tangible fixed assets | 22/27 | €726 | €115,081 | +€114,355 | +15,747% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €726 | €3,951 | +€3,225 | +444% |
| Leasing and similar rights | 25 | - | €109,332 | +€109,332 | |
| Other tangible fixed assets | 26 | - | €1,799 | +€1,799 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €301,484 | €223,562 | -€77,921 | -25.8% |
| Amounts receivable within one year | 40/41 | €14,073 | €19,619 | +€5,546 | +39.4% |
| Other amounts receivable | 41 | €14,073 | €19,619 | +€5,546 | +39.4% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €284,167 | €3,314 | -€280,852 | -98.8% |
| Deferred charges and accrued income | 490/1 | €3,244 | €629 | -€2,614 | -80.6% |
| Total equity and liabilities | 10/49 | €302,210 | €338,644 | +€36,434 | +12.1% |
| Equity | 10/15 | €299,769 | €247,934 | -€51,835 | -17.3% |
| Contributions | 10/11 | €666,200 | €666,200 | = | 0.0% |
| Reserves | 13 | €193,388 | €193,388 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,860 | €15,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,860 | €15,860 | = | 0.0% |
| Distributable reserves | 133 | €177,528 | €177,528 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€559,819 | -€611,654 | -€51,835 | -9.3% |
| Amounts payable | 17/49 | €2,441 | €90,710 | +€88,269 | +3,616% |
| Amounts payable after more than one year | 17 | €0 | €64,380 | +€64,380 | |
| Financial debts | 170/4 | €0 | €64,380 | +€64,380 | |
| Amounts payable within one year | 42/48 | €2,441 | €26,330 | +€23,889 | +979% |
| Current portion of amounts payable after more than one year | 42 | €0 | €26,199 | +€26,199 | |
| Trade debts | 44 | €2,337 | €102 | -€2,234 | -95.6% |
| Suppliers | 440/4 | €2,337 | €102 | -€2,234 | -95.6% |
| Taxes, remuneration and social security | 45 | €104 | €28 | -€76 | -73.1% |
| Taxes | 450/3 | €104 | €28 | -€76 | -73.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,142 | €16,664 | +€15,522 | +1,359% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€25,267 | €0 | +€25,267 | |
| Other operating charges | 640/8 | €26,728 | €9,036 | -€17,691 | -66.2% |
| Gross operating margin | 9900 | -€62,392 | -€22,325 | +€40,067 | +64.2% |
| Operating profit (loss) | 9901 | -€64,995 | -€48,026 | +€16,969 | +26.1% |
| Financial income | 75/76B | €833,582 | €981 | -€832,601 | -99.9% |
| Recurring financial income | 75 | €0 | €981 | +€981 | +445,895% |
| Non-recurring financial income | 76B | €833,582 | €0 | -€833,582 | -100% |
| Financial charges | 65/66B | €664,615 | €4,591 | -€660,024 | -99.3% |
| Recurring financial charges | 65 | €4,615 | €4,591 | -€24 | -0.5% |
| Non-recurring financial charges | 66B | €660,000 | €0 | -€660,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | €103,973 | -€51,636 | -€155,608 | |
| Income taxes | 67/77 | €104 | €199 | +€95 | +91.5% |
| Profit (loss) for the period | 9904 | €103,869 | -€51,835 | -€155,703 | |
| Profit (loss) for the period to be appropriated | 9905 | €103,869 | -€51,835 | -€155,703 |
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 23 October 2026 via checked.be.