RS-Pro: 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.
What changed
RS-Pro
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€71,389
2024 · €74,033-€2,644
Equity
€446,103
2024 · €534,714-€88,611
Cash
€50,851
2024 · €54,126-€3,275
Balance sheet total
€1.5m
2024 · €1.5m-€31,953
Largest movements
Assets
- Receivables within one year -€27,005
down €27,005 (-12.9%), from €209,584 to €182,578
of which Other amounts receivable: -€25,458
Equity and liabilities
- Other debts +€115,747
up €115,747 (+333%), from €34,720 to €150,467
- Reserves -€88,611
down €88,611 (-17.2%), from €516,114 to €427,503
of which Distributable reserves: -€88,611
- Debts after one year -€69,545
down €69,545 (-8.4%), from €830,436 to €760,892
- Tax, wage and social debts +€15,976
up €15,976 (+52.6%), from €30,393 to €46,369
of which Taxes: +€13,628
Income statement
- Depreciation +€16,067
up €16,067 (+22.3%), from €72,128 to €88,195
- Gross operating margin +€12,697
up €12,697 (+4.1%), from €307,452 to €320,150
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.
Result 2024
€74,033
Gross operating margin
+€12,697
Staff costs
+€1,076
Depreciation
-€16,067
Other operating charges
-€2,090
Financial income
-€46
Financial charges
-€1,160
Taxes
+€2,946
Result 2025
€71,389
raises the resultlowers the result
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.
From operations
+€318,580
Investment
-€90,735
Financing
-€231,120
Cash 2024
€54,126
From operations (derived)
+€318,580
Net result for the year
+€71,389
Depreciation
+€88,195
Receivables after one year
+€4,924
Receivables within one year
+€27,005
Deferred charges and accrued income
-€711
Trade debts
-€262
Tax, wage and social debts
+€15,976
Other debts
+€115,747
Accrued charges and deferred income
-€3,684
Investment (derived)
-€90,735
Investment in fixed assets (net)
-€90,735
Financing
-€231,120
Debts after one year
-€69,545
Current portion of long-term debt
-€1,575
Contributions, distributions and other
-€160,000
Cash 2025
€50,851
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,526,457 | €1,494,503 | -€31,953 | -2.1% |
| Fixed assets | 21/28 | €1,237,699 | €1,240,239 | +€2,540 | +0.2% |
| Tangible fixed assets | 22/27 | €1,237,699 | €1,240,239 | +€2,540 | +0.2% |
| Land and buildings | 22 | €1,203,780 | €1,143,505 | -€60,275 | -5.0% |
| Plant, machinery and equipment | 23 | €0 | €460 | +€460 | |
| Furniture and vehicles | 24 | €5,206 | €3,062 | -€2,144 | -41.2% |
| Leasing and similar rights | 25 | €28,713 | €18,212 | -€10,501 | -36.6% |
| Assets under construction and advance payments | 27 | - | €75,000 | +€75,000 | |
| Current assets | 29/58 | €288,758 | €254,264 | -€34,494 | -11.9% |
| Amounts receivable after more than one year | 29 | €19,697 | €14,773 | -€4,924 | -25.0% |
| Trade receivables | 290 | - | €14,773 | +€14,773 | |
| Other amounts receivable | 291 | €19,697 | €0 | -€19,697 | -100% |
| Amounts receivable within one year | 40/41 | €209,584 | €182,578 | -€27,005 | -12.9% |
| Trade receivables | 40 | €9,083 | €7,535 | -€1,547 | -17.0% |
| Other amounts receivable | 41 | €200,501 | €175,043 | -€25,458 | -12.7% |
| Cash at bank and in hand | 54/58 | €54,126 | €50,851 | -€3,275 | -6.1% |
| Deferred charges and accrued income | 490/1 | €5,351 | €6,061 | +€711 | +13.3% |
| Total equity and liabilities | 10/49 | €1,526,457 | €1,494,503 | -€31,953 | -2.1% |
| Equity | 10/15 | €534,714 | €446,103 | -€88,611 | -16.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €516,114 | €427,503 | -€88,611 | -17.2% |
| Tax-exempt reserves | 132 | €6,905 | €6,905 | = | 0.0% |
| Distributable reserves | 133 | €509,209 | €420,598 | -€88,611 | -17.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €991,743 | €1,048,401 | +€56,657 | +5.7% |
| Amounts payable after more than one year | 17 | €830,436 | €760,892 | -€69,545 | -8.4% |
| Financial debts | 170/4 | €830,436 | €760,892 | -€69,545 | -8.4% |
| Amounts payable within one year | 42/48 | €156,900 | €286,786 | +€129,886 | +82.8% |
| Current portion of amounts payable after more than one year | 42 | €72,091 | €70,516 | -€1,575 | -2.2% |
| Trade debts | 44 | €19,696 | €19,434 | -€262 | -1.3% |
| Suppliers | 440/4 | €19,696 | €19,434 | -€262 | -1.3% |
| Taxes, remuneration and social security | 45 | €30,393 | €46,369 | +€15,976 | +52.6% |
| Taxes | 450/3 | €19,655 | €33,283 | +€13,628 | +69.3% |
| Remuneration and social security | 454/9 | €10,738 | €13,086 | +€2,348 | +21.9% |
| Other amounts payable | 47/48 | €34,720 | €150,467 | +€115,747 | +333% |
| Accrued charges and deferred income | 492/3 | €4,407 | €723 | -€3,684 | -83.6% |
| Remuneration, social security and pensions | 62 | €86,497 | €85,422 | -€1,076 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,128 | €88,195 | +€16,067 | +22.3% |
| Other operating charges | 640/8 | €9,679 | €11,769 | +€2,090 | +21.6% |
| Gross operating margin | 9900 | €307,452 | €320,150 | +€12,697 | +4.1% |
| Operating profit (loss) | 9901 | €139,149 | €134,764 | -€4,384 | -3.2% |
| Financial income | 75/76B | €46 | €0 | -€46 | -100.0% |
| Recurring financial income | 75 | €46 | €0 | -€46 | -100.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €36,515 | €37,675 | +€1,160 | +3.2% |
| Recurring financial charges | 65 | €36,515 | €37,675 | +€1,160 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €102,679 | €97,089 | -€5,590 | -5.4% |
| Income taxes | 67/77 | €28,646 | €25,700 | -€2,946 | -10.3% |
| Profit (loss) for the period | 9904 | €74,033 | €71,389 | -€2,644 | -3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €74,033 | €71,389 | -€2,644 | -3.6% |
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 25 October 2026 via checked.be.