RS5: 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.
RS5
Largest movements
- Receivables within one year -€53,161
down €53,161 (-24.1%), from €220,533 to €167,373
of which Trade receivables: -€59,320
- Financial fixed assets -€18,000
down €18,000 (-85.7%), from €21,000 to €3,000
- Tangible fixed assets +€16,488
up €16,488 (+33.6%), from €49,059 to €65,547
of which Other tangible fixed assets: +€18,930
- Deferred charges and accrued income +€3,374
up €3,374 (+647%), from €522 to €3,896
- Intangible fixed assets -€3,200
down €3,200 (-38.9%), from €8,236 to €5,036
- Other debts -€35,418
down €35,418 (-28.9%), from €122,498 to €87,080
- Tax, wage and social debts -€17,270
down €17,270 (-80.9%), from €21,336 to €4,066
- Debts after one year -€8,452
down €8,452 (-35.2%), from €24,025 to €15,573
- Trade debts +€5,432
up €5,432 (+38.5%), from €14,099 to €19,532
- Gross operating margin -€38,141
down €38,141 (-78.5%), from €48,615 to €10,474
- Other operating charges -€36,001
down €36,001 (-93.9%), from €38,320 to €2,319
- Taxes -€2,713
down €2,713 (-86.7%), from €3,128 to €414
- Financial charges +€1,606
up €1,606 (+34.1%), from €4,709 to €6,316
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 | €299,584 | €245,238 | -€54,345 | -18.1% |
| Fixed assets | 21/28 | €78,295 | €73,583 | -€4,712 | -6.0% |
| Intangible fixed assets | 21 | €8,236 | €5,036 | -€3,200 | -38.9% |
| Tangible fixed assets | 22/27 | €49,059 | €65,547 | +€16,488 | +33.6% |
| Plant, machinery and equipment | 23 | €2,331 | €1,621 | -€709 | -30.4% |
| Furniture and vehicles | 24 | €4,277 | €2,545 | -€1,733 | -40.5% |
| Other tangible fixed assets | 26 | €42,451 | €61,381 | +€18,930 | +44.6% |
| Financial fixed assets | 28 | €21,000 | €3,000 | -€18,000 | -85.7% |
| Current assets | 29/58 | €221,289 | €171,656 | -€49,634 | -22.4% |
| Amounts receivable within one year | 40/41 | €220,533 | €167,373 | -€53,161 | -24.1% |
| Trade receivables | 40 | €86,320 | €27,000 | -€59,320 | -68.7% |
| Other amounts receivable | 41 | €134,213 | €140,373 | +€6,159 | +4.6% |
| Cash at bank and in hand | 54/58 | €234 | €387 | +€153 | +65.5% |
| Deferred charges and accrued income | 490/1 | €522 | €3,896 | +€3,374 | +647% |
| Total equity and liabilities | 10/49 | €299,584 | €245,238 | -€54,345 | -18.1% |
| Equity | 10/15 | €106,114 | €106,440 | +€326 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €87,514 | €87,840 | +€326 | +0.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €85,654 | €85,980 | +€326 | +0.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €193,469 | €138,798 | -€54,672 | -28.3% |
| Amounts payable after more than one year | 17 | €24,025 | €15,573 | -€8,452 | -35.2% |
| Financial debts | 170/4 | €24,025 | €15,573 | -€8,452 | -35.2% |
| Amounts payable within one year | 42/48 | €169,444 | €122,625 | -€46,819 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €11,511 | €11,947 | +€436 | +3.8% |
| Trade debts | 44 | €14,099 | €19,532 | +€5,432 | +38.5% |
| Suppliers | 440/4 | €14,099 | €19,532 | +€5,432 | +38.5% |
| Taxes, remuneration and social security | 45 | €21,336 | €4,066 | -€17,270 | -80.9% |
| Taxes | 450/3 | €21,336 | €4,066 | -€17,270 | -80.9% |
| Other amounts payable | 47/48 | €122,498 | €87,080 | -€35,418 | -28.9% |
| Accrued charges and deferred income | 492/3 | - | €600 | +€600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,492 | €8,492 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €38,320 | €2,319 | -€36,001 | -93.9% |
| Gross operating margin | 9900 | €48,615 | €10,474 | -€38,141 | -78.5% |
| Operating profit (loss) | 9901 | €1,803 | -€337 | -€2,140 | |
| Financial income | 75/76B | €7,477 | €7,393 | -€84 | -1.1% |
| Recurring financial income | 75 | €7,477 | €7,393 | -€84 | -1.1% |
| Financial charges | 65/66B | €4,709 | €6,316 | +€1,606 | +34.1% |
| Recurring financial charges | 65 | €4,709 | €6,316 | +€1,606 | +34.1% |
| Profit (loss) for the period before taxes | 9903 | €4,571 | €741 | -€3,831 | -83.8% |
| Income taxes | 67/77 | €3,128 | €414 | -€2,713 | -86.7% |
| Profit (loss) for the period | 9904 | €1,443 | €326 | -€1,117 | -77.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,443 | €326 | -€1,117 | -77.4% |
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 16 October 2026 via checked.be.