RSC: what changed
RSC
Largest movements
- Receivables within one year -€80,574
down €80,574 (-35.3%), from €227,980 to €147,406
of which Other amounts receivable: -€47,353
- Cash -€18,906
down €18,906 (-37.6%), from €50,258 to €31,351
mainly Other debts (-€100,000) and Trade debts (-€93,969)
- Intangible fixed assets -€16,451
down €16,451 (-34.7%), from €47,444 to €30,993
- Deferred charges and accrued income -€14,016
down €14,016 (-65.8%), from €21,305 to €7,289
- Other debts -€100,000
down €100,000 (-100%), from €100,000 to €0
- Trade debts -€93,969
down €93,969 (-47.1%), from €199,301 to €105,331
- Reserves +€82,171
up €82,171 (+179%), from €45,932 to €128,103
- Debts after one year -€61,265
down €61,265 (-56.8%), from €107,899 to €46,634
- Tax, wage and social debts +€39,925
up €39,925 (+79.2%), from €50,432 to €90,357
of which Taxes: +€43,364
- Gross operating margin +€141,690
up €141,690 (+33.3%), from €425,452 to €567,142
- Staff costs +€39,930
up €39,930 (+10.4%), from €382,212 to €422,142
- Taxes +€26,372
up €26,372 (+745%), from €3,542 to €29,913
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €663,801 | €531,690 | -€132,111 | -19.9% |
| Fixed assets | 21/28 | €59,590 | €38,508 | -€21,083 | -35.4% |
| Intangible fixed assets | 21 | €47,444 | €30,993 | -€16,451 | -34.7% |
| Tangible fixed assets | 22/27 | €12,146 | €7,515 | -€4,631 | -38.1% |
| Plant, machinery and equipment | 23 | €3,978 | €2,805 | -€1,173 | -29.5% |
| Furniture and vehicles | 24 | €8,168 | €4,709 | -€3,458 | -42.3% |
| Current assets | 29/58 | €604,211 | €493,182 | -€111,028 | -18.4% |
| Stocks and contracts in progress | 3 | €304,668 | €307,136 | +€2,468 | +0.8% |
| Stocks | 30/36 | €283,132 | €307,136 | +€24,004 | +8.5% |
| Contracts in progress | 37 | €21,536 | €0 | -€21,536 | -100% |
| Amounts receivable within one year | 40/41 | €227,980 | €147,406 | -€80,574 | -35.3% |
| Trade receivables | 40 | €180,627 | €147,406 | -€33,221 | -18.4% |
| Other amounts receivable | 41 | €47,353 | €0 | -€47,353 | -100% |
| Cash at bank and in hand | 54/58 | €50,258 | €31,351 | -€18,906 | -37.6% |
| Deferred charges and accrued income | 490/1 | €21,305 | €7,289 | -€14,016 | -65.8% |
| Total equity and liabilities | 10/49 | €663,801 | €531,690 | -€132,111 | -19.9% |
| Equity | 10/15 | €145,932 | €228,103 | +€82,171 | +56.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €45,932 | €128,103 | +€82,171 | +179% |
| Distributable reserves | 133 | €45,932 | €128,103 | +€82,171 | +179% |
| Amounts payable | 17/49 | €517,869 | €303,587 | -€214,282 | -41.4% |
| Amounts payable after more than one year | 17 | €107,899 | €46,634 | -€61,265 | -56.8% |
| Financial debts | 170/4 | €107,899 | €46,634 | -€61,265 | -56.8% |
| Amounts payable within one year | 42/48 | €409,970 | €256,953 | -€153,017 | -37.3% |
| Current portion of amounts payable after more than one year | 42 | €60,237 | €61,265 | +€1,028 | +1.7% |
| Trade debts | 44 | €199,301 | €105,331 | -€93,969 | -47.1% |
| Suppliers | 440/4 | €199,301 | €105,331 | -€93,969 | -47.1% |
| Taxes, remuneration and social security | 45 | €50,432 | €90,357 | +€39,925 | +79.2% |
| Taxes | 450/3 | €0 | €43,364 | +€43,364 | |
| Remuneration and social security | 454/9 | €50,432 | €46,993 | -€3,440 | -6.8% |
| Other amounts payable | 47/48 | €100,000 | €0 | -€100,000 | -100% |
| Remuneration, social security and pensions | 62 | €382,212 | €422,142 | +€39,930 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,786 | €22,552 | -€234 | -1.0% |
| Other operating charges | 640/8 | €1,755 | €1,768 | +€12 | +0.7% |
| Gross operating margin | 9900 | €425,452 | €567,142 | +€141,690 | +33.3% |
| Operating profit (loss) | 9901 | €18,698 | €120,680 | +€101,982 | +545% |
| Financial income | 75/76B | €95 | €304 | +€209 | +220% |
| Recurring financial income | 75 | €95 | €304 | +€209 | +220% |
| Financial charges | 65/66B | €6,619 | €8,900 | +€2,281 | +34.5% |
| Recurring financial charges | 65 | €6,619 | €8,900 | +€2,281 | +34.5% |
| Profit (loss) for the period before taxes | 9903 | €12,174 | €112,084 | +€99,910 | +821% |
| Income taxes | 67/77 | €3,542 | €29,913 | +€26,372 | +745% |
| Profit (loss) for the period | 9904 | €8,633 | €82,171 | +€73,538 | +852% |
| Profit (loss) for the period to be appropriated | 9905 | €8,633 | €82,171 | +€73,538 | +852% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.