RS Syndic: 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 Syndic
Largest movements
- Tangible fixed assets -€21,466
down €21,466 (-4.7%), from €454,940 to €433,474
of which Land and buildings: -€19,829
- Debts after one year -€44,957
down €44,957 (-11.3%), from €398,303 to €353,346
of which Financial debts: -€44,957
- Profit (loss) carried forward +€18,748
up €18,748 (+70.7%), from -€26,534 to -€7,786
- Other debts +€17,693
new in 2025: €17,693
- Trade debts -€17,479
down €17,479 (-52.9%), from €33,051 to €15,572
- Gross operating margin +€23,734
up €23,734 (+56.0%), from €42,384 to €66,118
- Financial charges -€2,101
down €2,101 (-16.3%), from €12,926 to €10,825
- Depreciation -€1,125
down €1,125 (-3.4%), from €32,979 to €31,854
- Taxes +€810
up €810 (+316.4%), from €256 to €1,066
- Financial income -€731
no longer reported in 2025 (was €731)
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.
Cash bridge derived
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 | €469,711 | €445,499 | -€24,212 | -5.2% |
| Fixed assets | 21/28 | €459,920 | €434,748 | -€25,172 | -5.5% |
| Intangible fixed assets | 21 | €4,980 | €1,274 | -€3,706 | -74.4% |
| Tangible fixed assets | 22/27 | €454,940 | €433,474 | -€21,466 | -4.7% |
| Land and buildings | 22 | €451,882 | €432,053 | -€19,829 | -4.4% |
| Furniture and vehicles | 24 | €3,058 | €1,421 | -€1,637 | -53.5% |
| Current assets | 29/58 | €9,791 | €10,751 | +€960 | +9.8% |
| Amounts receivable within one year | 40/41 | €3,376 | €6,000 | +€2,624 | +77.7% |
| Trade receivables | 40 | €1,047 | - | -€1,047 | |
| Other amounts receivable | 41 | €2,329 | €6,000 | +€3,671 | +157.6% |
| Cash at bank and in hand | 54/58 | €5,294 | €3,315 | -€1,979 | -37.4% |
| Deferred charges and accrued income | 490/1 | €1,121 | €1,436 | +€315 | +28.1% |
| Total equity and liabilities | 10/49 | €469,711 | €445,499 | -€24,212 | -5.2% |
| Equity | 10/15 | -€7,934 | €10,814 | +€18,748 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,534 | -€7,786 | +€18,748 | +70.7% |
| Amounts payable | 17/49 | €477,645 | €434,685 | -€42,960 | -9.0% |
| Amounts payable after more than one year | 17 | €398,303 | €353,346 | -€44,957 | -11.3% |
| Financial debts | 170/4 | €363,303 | €318,346 | -€44,957 | -12.4% |
| Other amounts payable | 178/9 | €35,000 | €35,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €78,724 | €80,796 | +€2,072 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €45,354 | €46,424 | +€1,070 | +2.4% |
| Trade debts | 44 | €33,051 | €15,572 | -€17,479 | -52.9% |
| Suppliers | 440/4 | €33,051 | €15,572 | -€17,479 | -52.9% |
| Taxes, remuneration and social security | 45 | €319 | €1,107 | +€788 | +247.0% |
| Taxes | 450/3 | €319 | €1,107 | +€788 | +247.0% |
| Other amounts payable | 47/48 | - | €17,693 | +€17,693 | |
| Accrued charges and deferred income | 492/3 | €618 | €543 | -€75 | -12.1% |
| Non-recurring operating income | 76A | - | €10,488 | +€10,488 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,979 | €31,854 | -€1,125 | -3.4% |
| Other operating charges | 640/8 | €3,383 | €3,625 | +€242 | +7.2% |
| Gross operating margin | 9900 | €42,384 | €66,118 | +€23,734 | +56.0% |
| Operating profit (loss) | 9901 | €6,022 | €30,639 | +€24,617 | +408.8% |
| Financial income | 75/76B | €731 | - | -€731 | |
| Recurring financial income | 75 | €731 | - | -€731 | |
| Financial charges | 65/66B | €12,926 | €10,825 | -€2,101 | -16.3% |
| Recurring financial charges | 65 | €12,926 | €10,825 | -€2,101 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,173 | €19,814 | +€25,987 | |
| Income taxes | 67/77 | €256 | €1,066 | +€810 | +316.4% |
| Profit (loss) for the period | 9904 | -€6,429 | €18,748 | +€25,177 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,429 | €18,748 | +€25,177 |
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 11 October 2026 via checked.be.