RSDG: 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.
RSDG
Largest movements
- Tangible fixed assets -€8,864
down €8,864 (-20.5%), from €43,278 to €34,414
of which Land and buildings: -€4,534
- Stocks and contracts -€3,459
down €3,459 (-52.2%), from €6,633 to €3,174
- Financial fixed assets -€845
no longer reported in 2025 (was €845)
- Current portion of long-term debt -€11,471
down €11,471 (-82.5%), from €13,903 to €2,431
- Profit (loss) carried forward +€5,614
up €5,614 (+23.9%), from -€23,461 to -€17,846
- Other debts -€3,673
down €3,673 (-8.0%), from €46,011 to €42,338
- Debts after one year -€2,720
down €2,720 (-62.2%), from €4,371 to €1,651
- Tax, wage and social debts -€829
down €829 (-11.2%), from €7,374 to €6,545
of which Taxes: -€587
- Depreciation -€50,176
down €50,176 (-85.0%), from €59,040 to €8,864
- Gross operating margin -€46,495
down €46,495 (-66.3%), from €70,155 to €23,660
- Other operating charges -€4,329
down €4,329 (-74.8%), from €5,790 to €1,461
- Financial charges -€4,141
down €4,141 (-79.3%), from €5,222 to €1,081
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 | €66,826 | €53,488 | -€13,338 | -20.0% |
| Fixed assets | 21/28 | €44,123 | €34,414 | -€9,708 | -22.0% |
| Tangible fixed assets | 22/27 | €43,278 | €34,414 | -€8,864 | -20.5% |
| Land and buildings | 22 | €22,846 | €18,312 | -€4,534 | -19.8% |
| Plant, machinery and equipment | 23 | €20,432 | €16,103 | -€4,329 | -21.2% |
| Financial fixed assets | 28 | €845 | - | -€845 | |
| Current assets | 29/58 | €22,703 | €19,073 | -€3,630 | -16.0% |
| Stocks and contracts in progress | 3 | €6,633 | €3,174 | -€3,459 | -52.2% |
| Stocks | 30/36 | €6,633 | €3,174 | -€3,459 | -52.2% |
| Amounts receivable within one year | 40/41 | €411 | €451 | +€40 | +9.7% |
| Other amounts receivable | 41 | €411 | €451 | +€40 | +9.7% |
| Cash at bank and in hand | 54/58 | €15,660 | €15,449 | -€211 | -1.3% |
| Total equity and liabilities | 10/49 | €66,826 | €53,488 | -€13,338 | -20.0% |
| Equity | 10/15 | -€8,461 | -€2,846 | +€5,614 | +66.4% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,461 | -€17,846 | +€5,614 | +23.9% |
| Amounts payable | 17/49 | €75,286 | €56,334 | -€18,952 | -25.2% |
| Amounts payable after more than one year | 17 | €4,371 | €1,651 | -€2,720 | -62.2% |
| Financial debts | 170/4 | €4,371 | €1,651 | -€2,720 | -62.2% |
| Amounts payable within one year | 42/48 | €70,915 | €54,683 | -€16,232 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €13,903 | €2,431 | -€11,471 | -82.5% |
| Trade debts | 44 | €3,628 | €3,369 | -€259 | -7.1% |
| Suppliers | 440/4 | €3,628 | €3,369 | -€259 | -7.1% |
| Taxes, remuneration and social security | 45 | €7,374 | €6,545 | -€829 | -11.2% |
| Taxes | 450/3 | €4,203 | €3,617 | -€587 | -14.0% |
| Remuneration and social security | 454/9 | €3,171 | €2,928 | -€242 | -7.6% |
| Other amounts payable | 47/48 | €46,011 | €42,338 | -€3,673 | -8.0% |
| Non-recurring operating income | 76A | €22,606 | - | -€22,606 | |
| Remuneration, social security and pensions | 62 | €7,006 | €6,778 | -€229 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,040 | €8,864 | -€50,176 | -85.0% |
| Other operating charges | 640/8 | €5,790 | €1,461 | -€4,329 | -74.8% |
| Gross operating margin | 9900 | €70,155 | €23,660 | -€46,495 | -66.3% |
| Operating profit (loss) | 9901 | -€1,681 | €6,558 | +€8,239 | |
| Financial income | 75/76B | €11 | €138 | +€127 | +1,174% |
| Recurring financial income | 75 | €11 | €138 | +€127 | +1,174% |
| Financial charges | 65/66B | €5,222 | €1,081 | -€4,141 | -79.3% |
| Recurring financial charges | 65 | €5,222 | €1,081 | -€4,141 | -79.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,892 | €5,614 | +€12,506 | |
| Income taxes | 67/77 | €132 | - | -€132 | |
| Profit (loss) for the period | 9904 | -€7,024 | €5,614 | +€12,638 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,024 | €5,614 | +€12,638 |
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 13 October 2026 via checked.be.