RP-4: what changed
Two fiscal 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.
RP-4
Largest movements
- Receivables within one year +€2.3m
up €2.3m (+210915.4%), from €1,095 to €2.3m
of which Other amounts receivable: +€2.2m
- Tangible fixed assets -€281,150
down €281,150 (-8.2%), from €3.4m to €3.1m
- Debts after one year +€2.3m
new in 2025: €2.3m
- Profit (loss) carried forward -€231,499
down €231,499 (-209.4%), from -€110,541 to -€342,040
- Trade debts -€186,103
down €186,103 (-89.7%), from €207,403 to €21,300
- Current portion of long-term debt +€161,857
new in 2025: €161,857
- Financial charges +€108,436
up €108,436 (+154.6%), from €70,137 to €178,573
- Other operating charges +€58,693
up €58,693 (+4577.2%), from €1,282 to €59,975
- Financial income +€47,893
up €47,893 (+1884.1%), from €2,542 to €50,434
- Depreciation +€14,121
up €14,121 (+6.7%), from €211,216 to €225,337
- Gross operating margin +€12,951
up €12,951 (+7.6%), from €169,553 to €182,504
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 | €3,442,573 | €5,520,941 | +€2.1m | +60.4% |
| Fixed assets | 21/28 | €3,425,485 | €3,144,335 | -€281,150 | -8.2% |
| Tangible fixed assets | 22/27 | €3,425,485 | €3,144,335 | -€281,150 | -8.2% |
| Land and buildings | 22 | €3,425,485 | €3,144,335 | -€281,150 | -8.2% |
| Current assets | 29/58 | €17,088 | €2,376,607 | +€2.4m | +13808.0% |
| Amounts receivable within one year | 40/41 | €1,095 | €2,310,006 | +€2.3m | +210915.4% |
| Trade receivables | 40 | - | €120,503 | +€120,503 | |
| Other amounts receivable | 41 | €1,095 | €2,189,503 | +€2.2m | +199907.6% |
| Cash at bank and in hand | 54/58 | €13,451 | €18,008 | +€4,556 | +33.9% |
| Deferred charges and accrued income | 490/1 | €2,542 | €48,593 | +€46,051 | +1811.7% |
| Total equity and liabilities | 10/49 | €3,442,573 | €5,520,941 | +€2.1m | +60.4% |
| Equity | 10/15 | €389,459 | €157,960 | -€231,499 | -59.4% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€110,541 | -€342,040 | -€231,499 | -209.4% |
| Amounts payable | 17/49 | €3,053,113 | €5,362,981 | +€2.3m | +75.7% |
| Amounts payable after more than one year | 17 | - | €2,310,143 | +€2.3m | |
| Financial debts | 170/4 | - | €2,310,143 | +€2.3m | |
| Amounts payable within one year | 42/48 | €2,983,651 | €2,959,404 | -€24,246 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | - | €161,857 | +€161,857 | |
| Trade debts | 44 | €207,403 | €21,300 | -€186,103 | -89.7% |
| Suppliers | 440/4 | €207,403 | €21,300 | -€186,103 | -89.7% |
| Taxes, remuneration and social security | 45 | €46 | €46 | = | 0.0% |
| Taxes | 450/3 | €46 | €46 | = | 0.0% |
| Other amounts payable | 47/48 | €2,776,202 | €2,776,202 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €69,463 | €93,434 | +€23,971 | +34.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €211,216 | €225,337 | +€14,121 | +6.7% |
| Other operating charges | 640/8 | €1,282 | €59,975 | +€58,693 | +4577.2% |
| Gross operating margin | 9900 | €169,553 | €182,504 | +€12,951 | +7.6% |
| Operating profit (loss) | 9901 | -€42,946 | -€102,808 | -€59,862 | -139.4% |
| Financial income | 75/76B | €2,542 | €50,434 | +€47,893 | +1884.1% |
| Recurring financial income | 75 | €2,542 | €50,434 | +€47,893 | +1884.1% |
| Financial charges | 65/66B | €70,137 | €178,573 | +€108,436 | +154.6% |
| Recurring financial charges | 65 | €70,137 | €178,573 | +€108,436 | +154.6% |
| Profit (loss) for the period before taxes | 9903 | -€110,541 | -€230,947 | -€120,406 | -108.9% |
| Income taxes | 67/77 | - | €553 | +€553 | |
| Profit (loss) for the period | 9904 | -€110,541 | -€231,499 | -€120,959 | -109.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€110,541 | -€231,499 | -€120,959 | -109.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.