RR MANAGEMENT: 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.
RR MANAGEMENT
Largest movements
- Tangible fixed assets +€93,729
up €93,729 (+3.4%), from €2.8m to €2.9m
of which Land and buildings: +€86,127
- Debts after one year +€148,499
up €148,499 (+6.0%), from €2.5m to €2.6m
of which Other amounts payable: +€119,023
- Reserves -€138,148
down €138,148 (-68.3%), from €202,338 to €64,190
- Other debts +€98,353
up €98,353, from €0 to €98,353
- Other operating charges +€127,556
up €127,556 (+4,821%), from €2,646 to €130,201
- Gross operating margin +€100,221
up €100,221 (+63.2%), from €158,453 to €258,673
- Financial charges +€22,504
up €22,504 (+45.3%), from €49,669 to €72,173
- Staff costs +€18,475
up €18,475 (+23.4%), from €78,825 to €97,300
- Taxes +€17,428
up €17,428 (+3,689%), from €472 to €17,900
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 | €2,863,186 | €2,936,169 | +€72,983 | +2.5% |
| Fixed assets | 21/28 | €2,790,269 | €2,883,997 | +€93,729 | +3.4% |
| Tangible fixed assets | 22/27 | €2,790,269 | €2,883,997 | +€93,729 | +3.4% |
| Land and buildings | 22 | €2,724,950 | €2,811,077 | +€86,127 | +3.2% |
| Plant, machinery and equipment | 23 | €45,882 | €54,099 | +€8,216 | +17.9% |
| Furniture and vehicles | 24 | €19,436 | €18,822 | -€614 | -3.2% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €72,917 | €52,172 | -€20,745 | -28.5% |
| Amounts receivable within one year | 40/41 | €19,363 | €21,318 | +€1,955 | +10.1% |
| Trade receivables | 40 | €0 | €16,293 | +€16,293 | |
| Other amounts receivable | 41 | €19,363 | €5,025 | -€14,338 | -74.0% |
| Cash at bank and in hand | 54/58 | €44,261 | €25,233 | -€19,027 | -43.0% |
| Deferred charges and accrued income | 490/1 | €9,294 | €5,621 | -€3,673 | -39.5% |
| Total equity and liabilities | 10/49 | €2,863,186 | €2,936,169 | +€72,983 | +2.5% |
| Equity | 10/15 | €214,838 | €61,560 | -€153,277 | -71.3% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €202,338 | €64,190 | -€138,148 | -68.3% |
| Distributable reserves | 133 | €202,338 | €64,190 | -€138,148 | -68.3% |
| Profit (loss) carried forward | 14 | €0 | -€15,129 | -€15,129 | |
| Amounts payable | 17/49 | €2,648,349 | €2,874,609 | +€226,261 | +8.5% |
| Amounts payable after more than one year | 17 | €2,454,778 | €2,603,278 | +€148,499 | +6.0% |
| Financial debts | 170/4 | €1,601,564 | €1,631,041 | +€29,477 | +1.8% |
| Other amounts payable | 178/9 | €853,215 | €972,237 | +€119,023 | +13.9% |
| Amounts payable within one year | 42/48 | €191,570 | €269,331 | +€77,761 | +40.6% |
| Current portion of amounts payable after more than one year | 42 | €120,884 | €99,945 | -€20,939 | -17.3% |
| Trade debts | 44 | €35,056 | €48,265 | +€13,209 | +37.7% |
| Suppliers | 440/4 | €35,056 | €48,265 | +€13,209 | +37.7% |
| Taxes, remuneration and social security | 45 | €35,630 | €22,768 | -€12,862 | -36.1% |
| Taxes | 450/3 | €28,172 | €14,254 | -€13,918 | -49.4% |
| Remuneration and social security | 454/9 | €7,458 | €8,514 | +€1,056 | +14.2% |
| Other amounts payable | 47/48 | €0 | €98,353 | +€98,353 | |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €78,825 | €97,300 | +€18,475 | +23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,706 | €94,402 | +€14,697 | +18.4% |
| Other operating charges | 640/8 | €2,646 | €130,201 | +€127,556 | +4,821% |
| Gross operating margin | 9900 | €158,453 | €258,673 | +€100,221 | +63.2% |
| Operating profit (loss) | 9901 | -€2,724 | -€63,230 | -€60,507 | -2,221% |
| Financial income | 75/76B | €8,264 | €26 | -€8,239 | -99.7% |
| Recurring financial income | 75 | €8,264 | €26 | -€8,239 | -99.7% |
| Financial charges | 65/66B | €49,669 | €72,173 | +€22,504 | +45.3% |
| Recurring financial charges | 65 | €49,669 | €72,173 | +€22,504 | +45.3% |
| Profit (loss) for the period before taxes | 9903 | -€44,128 | -€135,377 | -€91,249 | -207% |
| Income taxes | 67/77 | €472 | €17,900 | +€17,428 | +3,689% |
| Profit (loss) for the period | 9904 | -€44,601 | -€153,277 | -€108,677 | -244% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,601 | -€153,277 | -€108,677 | -244% |
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 22 October 2026 via checked.be.