RN CONSTRUCT: 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.
RN CONSTRUCT
Largest movements
- Receivables within one year +€84,359
up €84,359 (+153%), from €54,979 to €139,338
of which Trade receivables: +€63,878
- Cash -€52,133
down €52,133 (-93.8%), from €55,602 to €3,469
mainly Receivables within one year (-€84,359) and Current portion of long-term debt (-€11,963)
- Tangible fixed assets -€3,960
down €3,960 (-54.1%), from €7,320 to €3,360
- Trade debts +€25,287
up €25,287 (+71.7%), from €35,272 to €60,559
- Current portion of long-term debt -€11,963
no longer reported in 2025 (was €11,963)
- Profit (loss) carried forward +€11,164
up €11,164 (+28.4%), from €39,353 to €50,516
- Tax, wage and social debts +€4,123
up €4,123 (+11.2%), from €36,956 to €41,079
of which Remuneration and social security: +€6,488
- Gross operating margin +€10,307
up €10,307 (+9.1%), from €113,341 to €123,648
- Write-downs -€8,362
no longer reported in 2025 (was €8,362)
- Financial charges -€8,260
down €8,260 (-28.9%), from €28,565 to €20,305
- Staff costs +€4,069
up €4,069 (+4.9%), from €82,493 to €86,562
- Other operating charges -€3,300
down €3,300 (-74.9%), from €4,403 to €1,104
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 | €124,801 | €153,471 | +€28,669 | +23.0% |
| Fixed assets | 21/28 | €14,220 | €10,260 | -€3,960 | -27.8% |
| Tangible fixed assets | 22/27 | €7,320 | €3,360 | -€3,960 | -54.1% |
| Furniture and vehicles | 24 | €7,320 | €3,360 | -€3,960 | -54.1% |
| Financial fixed assets | 28 | €6,900 | €6,900 | = | 0.0% |
| Current assets | 29/58 | €110,581 | €143,211 | +€32,630 | +29.5% |
| Amounts receivable within one year | 40/41 | €54,979 | €139,338 | +€84,359 | +153% |
| Trade receivables | 40 | €11,726 | €75,604 | +€63,878 | +545% |
| Other amounts receivable | 41 | €43,253 | €63,734 | +€20,481 | +47.4% |
| Cash at bank and in hand | 54/58 | €55,602 | €3,469 | -€52,133 | -93.8% |
| Deferred charges and accrued income | 490/1 | - | €404 | +€404 | |
| Total equity and liabilities | 10/49 | €124,801 | €153,471 | +€28,669 | +23.0% |
| Equity | 10/15 | €40,353 | €51,516 | +€11,164 | +27.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,353 | €50,516 | +€11,164 | +28.4% |
| Amounts payable | 17/49 | €84,448 | €101,954 | +€17,506 | +20.7% |
| Amounts payable within one year | 42/48 | €84,448 | €101,954 | +€17,506 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €11,963 | - | -€11,963 | |
| Financial debts | 43 | - | €316 | +€316 | |
| Credit institutions | 430/8 | - | €316 | +€316 | |
| Trade debts | 44 | €35,272 | €60,559 | +€25,287 | +71.7% |
| Suppliers | 440/4 | €35,272 | €60,559 | +€25,287 | +71.7% |
| Taxes, remuneration and social security | 45 | €36,956 | €41,079 | +€4,123 | +11.2% |
| Taxes | 450/3 | €6,902 | €4,537 | -€2,365 | -34.3% |
| Remuneration and social security | 454/9 | €30,054 | €36,542 | +€6,488 | +21.6% |
| Other amounts payable | 47/48 | €257 | - | -€257 | |
| Remuneration, social security and pensions | 62 | €82,493 | €86,562 | +€4,069 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,498 | €3,960 | -€1,538 | -28.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,362 | - | -€8,362 | |
| Other operating charges | 640/8 | €4,403 | €1,104 | -€3,300 | -74.9% |
| Gross operating margin | 9900 | €113,341 | €123,648 | +€10,307 | +9.1% |
| Operating profit (loss) | 9901 | €12,585 | €32,022 | +€19,437 | +154% |
| Financial income | 75/76B | €2 | €1,784 | +€1,782 | +88,653% |
| Recurring financial income | 75 | €2 | €1,784 | +€1,782 | +88,653% |
| Financial charges | 65/66B | €28,565 | €20,305 | -€8,260 | -28.9% |
| Recurring financial charges | 65 | €28,565 | €20,305 | -€8,260 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | -€15,978 | €13,502 | +€29,480 | |
| Income taxes | 67/77 | €1,723 | €2,338 | +€616 | +35.7% |
| Profit (loss) for the period | 9904 | -€17,701 | €11,164 | +€28,864 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,701 | €11,164 | +€28,864 |
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 27 October 2026 via checked.be.