RS GROEP: 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 GROEP
Largest movements
- Tangible fixed assets +€786,174
up €786,174 (+261%), from €301,713 to €1.1m
of which Land and buildings: +€780,243
- Stocks and contracts -€47,990
down €47,990 (-63.1%), from €76,074 to €28,084
- Receivables within one year +€41,051
up €41,051 (+97.0%), from €42,335 to €83,386
of which Other amounts receivable: +€55,435
- Cash +€30,401
up €30,401 (+96.5%), from €31,515 to €61,916
mainly Debts after one year (+€597,166) and Short-term financial debts (+€100,000)
- Debts after one year +€597,166
up €597,166 (+255%), from €234,477 to €831,643
- Short-term financial debts +€100,000
new in 2025: €100,000
- Reserves +€51,522
up €51,522 (+41.7%), from €123,453 to €174,976
- Trade debts +€39,984
up €39,984 (+106%), from €37,566 to €77,550
- Current portion of long-term debt +€24,393
up €24,393 (+95.3%), from €25,604 to €49,997
- Taxes -€12,049
no longer reported in 2025 (was €12,049)
- Financial charges +€6,026
up €6,026 (+83.7%), from €7,199 to €13,225
- Gross operating margin +€3,153
up €3,153 (+3.4%), from €93,354 to €96,507
- Depreciation -€2,171
down €2,171 (-6.9%), from €31,294 to €29,123
- Other operating charges +€1,991
up €1,991 (+291%), from €685 to €2,676
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 | €452,788 | €1,262,630 | +€809,842 | +179% |
| Fixed assets | 21/28 | €301,838 | €1,088,011 | +€786,174 | +260% |
| Tangible fixed assets | 22/27 | €301,713 | €1,087,886 | +€786,174 | +261% |
| Land and buildings | 22 | €282,394 | €1,062,637 | +€780,243 | +276% |
| Plant, machinery and equipment | 23 | €18,955 | €25,078 | +€6,123 | +32.3% |
| Furniture and vehicles | 24 | €364 | €172 | -€192 | -52.8% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €150,950 | €174,619 | +€23,668 | +15.7% |
| Stocks and contracts in progress | 3 | €76,074 | €28,084 | -€47,990 | -63.1% |
| Stocks | 30/36 | €76,074 | €28,084 | -€47,990 | -63.1% |
| Amounts receivable within one year | 40/41 | €42,335 | €83,386 | +€41,051 | +97.0% |
| Trade receivables | 40 | €32,255 | €17,871 | -€14,385 | -44.6% |
| Other amounts receivable | 41 | €10,080 | €65,516 | +€55,435 | +550% |
| Cash at bank and in hand | 54/58 | €31,515 | €61,916 | +€30,401 | +96.5% |
| Deferred charges and accrued income | 490/1 | €1,026 | €1,232 | +€207 | +20.1% |
| Total equity and liabilities | 10/49 | €452,788 | €1,262,630 | +€809,842 | +179% |
| Equity | 10/15 | €124,453 | €175,976 | +€51,522 | +41.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €123,453 | €174,976 | +€51,522 | +41.7% |
| Distributable reserves | 133 | €123,453 | €174,976 | +€51,522 | +41.7% |
| Amounts payable | 17/49 | €328,335 | €1,086,654 | +€758,320 | +231% |
| Amounts payable after more than one year | 17 | €234,477 | €831,643 | +€597,166 | +255% |
| Financial debts | 170/4 | €234,477 | €831,643 | +€597,166 | +255% |
| Amounts payable within one year | 42/48 | €93,858 | €255,011 | +€161,153 | +172% |
| Current portion of amounts payable after more than one year | 42 | €25,604 | €49,997 | +€24,393 | +95.3% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €37,566 | €77,550 | +€39,984 | +106% |
| Suppliers | 440/4 | €37,566 | €77,550 | +€39,984 | +106% |
| Taxes, remuneration and social security | 45 | €3,839 | €11,158 | +€7,319 | +191% |
| Taxes | 450/3 | €3,839 | €7,033 | +€3,194 | +83.2% |
| Remuneration and social security | 454/9 | - | €4,125 | +€4,125 | |
| Other amounts payable | 47/48 | €26,848 | €16,306 | -€10,543 | -39.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,294 | €29,123 | -€2,171 | -6.9% |
| Other operating charges | 640/8 | €685 | €2,676 | +€1,991 | +291% |
| Gross operating margin | 9900 | €93,354 | €96,507 | +€3,153 | +3.4% |
| Operating profit (loss) | 9901 | €61,375 | €64,708 | +€3,333 | +5.4% |
| Financial income | 75/76B | - | €40 | +€40 | |
| Recurring financial income | 75 | - | €40 | +€40 | |
| Financial charges | 65/66B | €7,199 | €13,225 | +€6,026 | +83.7% |
| Recurring financial charges | 65 | €7,199 | €13,225 | +€6,026 | +83.7% |
| Profit (loss) for the period before taxes | 9903 | €54,176 | €51,522 | -€2,653 | -4.9% |
| Income taxes | 67/77 | €12,049 | - | -€12,049 | |
| Profit (loss) for the period | 9904 | €42,127 | €51,522 | +€9,396 | +22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €42,127 | €51,522 | +€9,396 | +22.3% |
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 31 October 2026 via checked.be.