RNA: 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.
RNA
Largest movements
- Financial fixed assets +€250,500
up €250,500 (+80.9%), from €309,500 to €560,000
- Receivables after one year -€230,000
no longer reported in 2025 (was €230,000)
- Current investments -€100,806
down €100,806 (-34.0%), from €296,256 to €195,450
- Deferred charges and accrued income +€29,986
up €29,986 (+15.4%), from €195,248 to €225,234
- Receivables within one year -€20,440
down €20,440 (-73.9%), from €27,654 to €7,214
of which Other amounts receivable: -€20,646
- Profit (loss) carried forward -€61,295
down €61,295 (-1.0%), from -€6.0m to -€6.1m
- Debts after one year -€50,386
down €50,386 (-27.3%), from €184,440 to €134,054
- Gross operating margin -€25,171
down €25,171 (-4926.4%), from -€511 to -€25,682
- Other operating charges +€8,580
up €8,580 (+116.2%), from €7,383 to €15,963
- Financial income -€5,804
down €5,804 (-36.2%), from €16,040 to €10,236
- Taxes +€1,233
new in 2025: €1,233
- Depreciation +€1,045
up €1,045 (+4.8%), from €21,679 to €22,724
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.
Cash bridge derived
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 | €1,570,731 | €1,463,325 | -€107,406 | -6.8% |
| Fixed assets | 21/28 | €795,215 | €1,027,140 | +€231,924 | +29.2% |
| Tangible fixed assets | 22/27 | €485,715 | €467,140 | -€18,576 | -3.8% |
| Land and buildings | 22 | €473,834 | €458,452 | -€15,383 | -3.2% |
| Furniture and vehicles | 24 | €11,881 | €8,688 | -€3,193 | -26.9% |
| Financial fixed assets | 28 | €309,500 | €560,000 | +€250,500 | +80.9% |
| Current assets | 29/58 | €775,515 | €436,185 | -€339,330 | -43.8% |
| Amounts receivable after more than one year | 29 | €230,000 | - | -€230,000 | |
| Other amounts receivable | 291 | €230,000 | - | -€230,000 | |
| Amounts receivable within one year | 40/41 | €27,654 | €7,214 | -€20,440 | -73.9% |
| Trade receivables | 40 | - | €205 | +€205 | |
| Other amounts receivable | 41 | €27,654 | €7,009 | -€20,646 | -74.7% |
| Current investments | 50/53 | €296,256 | €195,450 | -€100,806 | -34.0% |
| Cash at bank and in hand | 54/58 | €26,357 | €8,287 | -€18,070 | -68.6% |
| Deferred charges and accrued income | 490/1 | €195,248 | €225,234 | +€29,986 | +15.4% |
| Total equity and liabilities | 10/49 | €1,570,731 | €1,463,325 | -€107,406 | -6.8% |
| Equity | 10/15 | €1,328,099 | €1,266,804 | -€61,295 | -4.6% |
| Contributions | 10/11 | €7,003,601 | €7,003,601 | = | 0.0% |
| Capital | 10 | €7,003,601 | €7,003,601 | = | 0.0% |
| Issued capital | 100 | €7,003,601 | €7,003,601 | = | 0.0% |
| Reserves | 13 | €355,296 | €355,296 | = | 0.0% |
| Non-distributable reserves | 130/1 | €95,701 | €95,701 | = | 0.0% |
| Legal reserve | 130 | €95,701 | €95,701 | = | 0.0% |
| Distributable reserves | 133 | €259,595 | €259,595 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,030,798 | -€6,092,093 | -€61,295 | -1.0% |
| Amounts payable | 17/49 | €242,632 | €196,521 | -€46,111 | -19.0% |
| Amounts payable after more than one year | 17 | €184,440 | €134,054 | -€50,386 | -27.3% |
| Financial debts | 170/4 | €184,440 | €134,054 | -€50,386 | -27.3% |
| Amounts payable within one year | 42/48 | €58,192 | €62,467 | +€4,275 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €49,566 | €50,386 | +€820 | +1.7% |
| Trade debts | 44 | €8,106 | €11,476 | +€3,369 | +41.6% |
| Suppliers | 440/4 | €8,106 | €11,476 | +€3,369 | +41.6% |
| Taxes, remuneration and social security | 45 | - | €605 | +€605 | |
| Taxes | 450/3 | - | €605 | +€605 | |
| Other amounts payable | 47/48 | €519 | - | -€519 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,679 | €22,724 | +€1,045 | +4.8% |
| Other operating charges | 640/8 | €7,383 | €15,963 | +€8,580 | +116.2% |
| Gross operating margin | 9900 | -€511 | -€25,682 | -€25,171 | -4926.4% |
| Operating profit (loss) | 9901 | -€29,573 | -€64,369 | -€34,796 | -117.7% |
| Financial income | 75/76B | €16,040 | €10,236 | -€5,804 | -36.2% |
| Recurring financial income | 75 | €16,040 | €10,236 | -€5,804 | -36.2% |
| Financial charges | 65/66B | €5,381 | €5,929 | +€548 | +10.2% |
| Recurring financial charges | 65 | €5,381 | €5,929 | +€548 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | -€18,914 | -€60,062 | -€41,148 | -217.6% |
| Income taxes | 67/77 | - | €1,233 | +€1,233 | |
| Profit (loss) for the period | 9904 | -€18,914 | -€61,295 | -€42,381 | -224.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,914 | -€61,295 | -€42,381 | -224.1% |
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 12 October 2026 via checked.be.