RS Development: 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.
RS Development
Largest movements
- Cash -€35,932
down €35,932 (-46.5%), from €77,343 to €41,411
mainly Contributions, distributions and other (-€57,567) and Investment in fixed assets (net) (-€35,738)
- Tangible fixed assets +€32,869
up €32,869 (+1,676%), from €1,962 to €34,831
of which Furniture and vehicles: +€31,990
- Receivables within one year -€20,100
down €20,100 (-33.1%), from €60,655 to €40,555
of which Trade receivables: -€20,040
- Deferred charges and accrued income +€2,422
up €2,422, from €0 to €2,422
- Reserves -€33,089
down €33,089 (-19.4%), from €170,573 to €137,484
of which Distributable reserves: -€33,089
- Other debts +€20,926
new in 2025: €20,926
- Tax, wage and social debts -€13,577
down €13,577 (-80.5%), from €16,859 to €3,282
- Trade debts +€3,495
up €3,495 (+2,729%), from €128 to €3,623
- Gross operating margin -€75,855
down €75,855 (-65.7%), from €115,493 to €39,638
- Taxes -€20,392
down €20,392 (-63.9%), from €31,936 to €11,545
- Depreciation +€1,427
up €1,427 (+99.0%), from €1,441 to €2,868
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 | €199,960 | €179,218 | -€20,741 | -10.4% |
| Fixed assets | 21/28 | €61,962 | €94,831 | +€32,869 | +53.0% |
| Tangible fixed assets | 22/27 | €1,962 | €34,831 | +€32,869 | +1,676% |
| Plant, machinery and equipment | 23 | €1,301 | €2,180 | +€879 | +67.6% |
| Furniture and vehicles | 24 | €661 | €32,651 | +€31,990 | +4,843% |
| Financial fixed assets | 28 | €60,000 | €60,000 | = | 0.0% |
| Current assets | 29/58 | €137,998 | €84,387 | -€53,611 | -38.8% |
| Amounts receivable within one year | 40/41 | €60,655 | €40,555 | -€20,100 | -33.1% |
| Trade receivables | 40 | €60,595 | €40,555 | -€20,040 | -33.1% |
| Other amounts receivable | 41 | €60 | €0 | -€60 | -100% |
| Cash at bank and in hand | 54/58 | €77,343 | €41,411 | -€35,932 | -46.5% |
| Deferred charges and accrued income | 490/1 | €0 | €2,422 | +€2,422 | |
| Total equity and liabilities | 10/49 | €199,960 | €179,218 | -€20,741 | -10.4% |
| Equity | 10/15 | €182,973 | €149,884 | -€33,089 | -18.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €170,573 | €137,484 | -€33,089 | -19.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €170,573 | €137,484 | -€33,089 | -19.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €16,987 | €29,335 | +€12,347 | +72.7% |
| Amounts payable within one year | 42/48 | €16,987 | €27,831 | +€10,843 | +63.8% |
| Trade debts | 44 | €128 | €3,623 | +€3,495 | +2,729% |
| Suppliers | 440/4 | €128 | €3,623 | +€3,495 | +2,729% |
| Taxes, remuneration and social security | 45 | €16,859 | €3,282 | -€13,577 | -80.5% |
| Taxes | 450/3 | €16,859 | €3,282 | -€13,577 | -80.5% |
| Other amounts payable | 47/48 | - | €20,926 | +€20,926 | |
| Accrued charges and deferred income | 492/3 | - | €1,504 | +€1,504 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,441 | €2,868 | +€1,427 | +99.0% |
| Other operating charges | 640/8 | €446 | €522 | +€76 | +16.9% |
| Gross operating margin | 9900 | €115,493 | €39,638 | -€75,855 | -65.7% |
| Operating profit (loss) | 9901 | €113,606 | €36,248 | -€77,358 | -68.1% |
| Financial income | 75/76B | €450 | €753 | +€303 | +67.4% |
| Recurring financial income | 75 | €450 | €753 | +€303 | +67.4% |
| Financial charges | 65/66B | €121 | €978 | +€856 | +706% |
| Recurring financial charges | 65 | €121 | €978 | +€856 | +706% |
| Profit (loss) for the period before taxes | 9903 | €113,934 | €36,023 | -€77,911 | -68.4% |
| Income taxes | 67/77 | €31,936 | €11,545 | -€20,392 | -63.9% |
| Profit (loss) for the period | 9904 | €81,998 | €24,478 | -€57,519 | -70.1% |
| Profit (loss) for the period to be appropriated | 9905 | €81,998 | €24,478 | -€57,519 | -70.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.