RSCL: what changed
Two fiscal 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.
RSCL
Largest movements
- Tangible fixed assets -€37,412
down €37,412 (-6.3%), from €594,416 to €557,004
of which Land and buildings: -€32,482
- Receivables within one year +€36,672
up €36,672 (+112.9%), from €32,474 to €69,146
of which Other amounts receivable: +€41,188
- Debts after one year -€17,131
down €17,131 (-8.7%), from €195,853 to €178,722
- Other debts +€12,183
up €12,183 (+24.7%), from €49,275 to €61,458
- Trade debts +€8,338
new in 2025: €8,338
- Reserves +€6,471
up €6,471 (+3.1%), from €206,050 to €212,521
of which Distributable reserves: +€6,471
- Financial charges +€36,215
up €36,215 (+409.2%), from €8,851 to €45,066
- Gross operating margin +€17,741
up €17,741 (+14.3%), from €123,858 to €141,599
- Taxes -€3,687
down €3,687 (-17.6%), from €20,899 to €17,212
- Depreciation -€2,143
down €2,143 (-5.4%), from €39,555 to €37,412
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 | €635,464 | €634,112 | -€1,353 | -0.2% |
| Fixed assets | 21/28 | €594,416 | €557,004 | -€37,412 | -6.3% |
| Tangible fixed assets | 22/27 | €594,416 | €557,004 | -€37,412 | -6.3% |
| Land and buildings | 22 | €568,921 | €536,440 | -€32,482 | -5.7% |
| Plant, machinery and equipment | 23 | €25,495 | €20,564 | -€4,930 | -19.3% |
| Current assets | 29/58 | €41,048 | €77,108 | +€36,060 | +87.8% |
| Amounts receivable within one year | 40/41 | €32,474 | €69,146 | +€36,672 | +112.9% |
| Trade receivables | 40 | €4,516 | - | -€4,516 | |
| Other amounts receivable | 41 | €27,958 | €69,146 | +€41,188 | +147.3% |
| Cash at bank and in hand | 54/58 | €2,863 | €1,902 | -€961 | -33.6% |
| Deferred charges and accrued income | 490/1 | €5,712 | €6,061 | +€349 | +6.1% |
| Total equity and liabilities | 10/49 | €635,464 | €634,112 | -€1,353 | -0.2% |
| Equity | 10/15 | €353,718 | €360,189 | +€6,471 | +1.8% |
| Contributions | 10/11 | €121,500 | €121,500 | = | 0.0% |
| Capital | 10 | €121,500 | €121,500 | = | 0.0% |
| Issued capital | 100 | €121,500 | €121,500 | = | 0.0% |
| Reserves | 13 | €206,050 | €212,521 | +€6,471 | +3.1% |
| Non-distributable reserves | 130/1 | €5,860 | €5,860 | = | 0.0% |
| Legal reserve | 130 | €5,860 | €5,860 | = | 0.0% |
| Distributable reserves | 133 | €200,190 | €206,661 | +€6,471 | +3.2% |
| Profit (loss) carried forward | 14 | €26,168 | €26,168 | = | 0.0% |
| Amounts payable | 17/49 | €281,747 | €273,923 | -€7,824 | -2.8% |
| Amounts payable after more than one year | 17 | €195,853 | €178,722 | -€17,131 | -8.7% |
| Financial debts | 170/4 | €195,853 | €178,722 | -€17,131 | -8.7% |
| Amounts payable within one year | 42/48 | €81,173 | €95,201 | +€14,028 | +17.3% |
| Current portion of amounts payable after more than one year | 42 | €24,094 | €23,109 | -€985 | -4.1% |
| Trade debts | 44 | - | €8,338 | +€8,338 | |
| Suppliers | 440/4 | - | €8,338 | +€8,338 | |
| Taxes, remuneration and social security | 45 | €7,803 | €2,295 | -€5,508 | -70.6% |
| Taxes | 450/3 | €7,803 | €2,295 | -€5,508 | -70.6% |
| Other amounts payable | 47/48 | €49,275 | €61,458 | +€12,183 | +24.7% |
| Accrued charges and deferred income | 492/3 | €4,721 | - | -€4,721 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,555 | €37,412 | -€2,143 | -5.4% |
| Other operating charges | 640/8 | €1,532 | €737 | -€795 | -51.9% |
| Non-recurring operating charges | 66A | €1,980 | - | -€1,980 | |
| Gross operating margin | 9900 | €123,858 | €141,599 | +€17,741 | +14.3% |
| Operating profit (loss) | 9901 | €80,790 | €103,450 | +€22,660 | +28.0% |
| Financial charges | 65/66B | €8,851 | €45,066 | +€36,215 | +409.2% |
| Recurring financial charges | 65 | €8,851 | €45,066 | +€36,215 | +409.2% |
| Profit (loss) for the period before taxes | 9903 | €71,939 | €58,383 | -€13,555 | -18.8% |
| Income taxes | 67/77 | €20,899 | €17,212 | -€3,687 | -17.6% |
| Profit (loss) for the period | 9904 | €51,040 | €41,171 | -€9,869 | -19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €51,040 | €41,171 | -€9,869 | -19.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.