RS FINANCE: 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 FINANCE
Largest movements
- Stocks and contracts +€159,444
up €159,444 (+112%), from €142,407 to €301,851
- Tangible fixed assets -€138,320
down €138,320 (-47.7%), from €290,052 to €151,732
of which Land and buildings: -€139,460
- Cash -€28,510
down €28,510 (-89.5%), from €31,855 to €3,345
mainly Stocks and contracts (-€159,444) and Contributions, distributions and other (-€47,584)
- Other debts -€37,514
down €37,514 (-25.2%), from €148,655 to €111,141
- Reserves +€22,067
up €22,067 (+9.1%), from €241,744 to €263,810
of which Distributable reserves: +€23,959
- Debts after one year -€13,320
down €13,320 (-26.8%), from €49,743 to €36,423
- Tax, wage and social debts +€10,662
up €10,662 (+1,059%), from €1,007 to €11,668
- Profit (loss) carried forward +€9,906
up €9,906, from -€9,906 to €0
- Gross operating margin +€106,549
up €106,549, from -€4,614 to €101,935
- Taxes +€8,282
new in 2025: €8,282
- Depreciation -€8,157
down €8,157 (-39.9%), from €20,465 to €12,308
- Financial charges -€3,702
down €3,702 (-70.7%), from €5,235 to €1,533
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 | €464,314 | €456,928 | -€7,386 | -1.6% |
| Fixed assets | 21/28 | €290,052 | €151,732 | -€138,320 | -47.7% |
| Tangible fixed assets | 22/27 | €290,052 | €151,732 | -€138,320 | -47.7% |
| Land and buildings | 22 | €290,052 | €150,592 | -€139,460 | -48.1% |
| Furniture and vehicles | 24 | €0 | €1,141 | +€1,141 | |
| Current assets | 29/58 | €174,262 | €305,196 | +€130,934 | +75.1% |
| Stocks and contracts in progress | 3 | €142,407 | €301,851 | +€159,444 | +112% |
| Stocks | 30/36 | €142,407 | €301,851 | +€159,444 | +112% |
| Cash at bank and in hand | 54/58 | €31,855 | €3,345 | -€28,510 | -89.5% |
| Total equity and liabilities | 10/49 | €464,314 | €456,928 | -€7,386 | -1.6% |
| Equity | 10/15 | €244,237 | €276,210 | +€31,973 | +13.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €241,744 | €263,810 | +€22,067 | +9.1% |
| Tax-exempt reserves | 132 | €18,925 | €17,032 | -€1,892 | -10.0% |
| Distributable reserves | 133 | €222,819 | €246,778 | +€23,959 | +10.8% |
| Profit (loss) carried forward | 14 | -€9,906 | €0 | +€9,906 | |
| Provisions and deferred taxes | 16 | €6,308 | €5,677 | -€631 | -10.0% |
| Deferred taxes | 168 | €6,308 | €5,677 | -€631 | -10.0% |
| Amounts payable | 17/49 | €213,768 | €175,040 | -€38,728 | -18.1% |
| Amounts payable after more than one year | 17 | €49,743 | €36,423 | -€13,320 | -26.8% |
| Financial debts | 170/4 | €49,743 | €36,423 | -€13,320 | -26.8% |
| Amounts payable within one year | 42/48 | €163,641 | €138,617 | -€25,024 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | €13,139 | €14,422 | +€1,283 | +9.8% |
| Trade debts | 44 | €840 | €1,386 | +€546 | +65.0% |
| Suppliers | 440/4 | €840 | €1,386 | +€546 | +65.0% |
| Taxes, remuneration and social security | 45 | €1,007 | €11,668 | +€10,662 | +1,059% |
| Taxes | 450/3 | €1,007 | €11,668 | +€10,662 | +1,059% |
| Other amounts payable | 47/48 | €148,655 | €111,141 | -€37,514 | -25.2% |
| Accrued charges and deferred income | 492/3 | €384 | €0 | -€384 | -100% |
| Non-recurring operating income | 76A | - | €99,069 | +€99,069 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,465 | €12,308 | -€8,157 | -39.9% |
| Other operating charges | 640/8 | €1,396 | €885 | -€511 | -36.6% |
| Gross operating margin | 9900 | -€4,614 | €101,935 | +€106,549 | |
| Operating profit (loss) | 9901 | -€26,476 | €88,742 | +€115,217 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €5,235 | €1,533 | -€3,702 | -70.7% |
| Recurring financial charges | 65 | €5,235 | €1,533 | -€3,702 | -70.7% |
| Profit (loss) for the period before taxes | 9903 | -€31,710 | €87,209 | +€118,919 | |
| Transfer from deferred taxes | 780 | €701 | €631 | -€70 | -10.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | - | €8,282 | +€8,282 | |
| Profit (loss) for the period | 9904 | -€31,009 | €79,557 | +€110,567 | |
| Transfer from tax-exempt reserves | 789 | €2,103 | €1,892 | -€210 | -10.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,907 | €81,450 | +€110,357 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.