RSI MANAGEMENT: 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.
RSI MANAGEMENT
Largest movements
- Intangible fixed assets +€20,524
up €20,524 (+211%), from €9,721 to €30,245
- Receivables within one year +€11,059
up €11,059 (+117%), from €9,417 to €20,476
- Cash -€2,973
down €2,973 (-12.9%), from €23,109 to €20,136
mainly Investment in fixed assets (net) (-€28,417) and Contributions, distributions and other (-€12,000)
- Debts after one year +€11,418
up €11,418 (+555%), from €2,059 to €13,477
- Other debts +€9,655
up €9,655 (+1,293%), from €747 to €10,402
- Short-term financial debts +€4,302
new in 2025: €4,302
- Tax, wage and social debts +€3,812
up €3,812 (+58.1%), from €6,565 to €10,377
- Trade debts -€961
down €961 (-78.7%), from €1,221 to €260
- Gross operating margin +€14,777
up €14,777 (+84.9%), from €17,407 to €32,184
- Financial income -€6,911
down €6,911 (-98.0%), from €7,053 to €142
- Taxes +€3,665
up €3,665 (+93.0%), from €3,940 to €7,605
- Depreciation +€3,221
up €3,221 (+59.6%), from €5,406 to €8,627
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 | €55,757 | €83,415 | +€27,658 | +49.6% |
| Formation expenses | 20 | €18 | - | -€18 | |
| Fixed assets | 21/28 | €21,275 | €41,083 | +€19,808 | +93.1% |
| Intangible fixed assets | 21 | €9,721 | €30,245 | +€20,524 | +211% |
| Tangible fixed assets | 22/27 | €11,554 | €10,838 | -€716 | -6.2% |
| Plant, machinery and equipment | 23 | €1,139 | - | -€1,139 | |
| Furniture and vehicles | 24 | €849 | €2,320 | +€1,471 | +173% |
| Other tangible fixed assets | 26 | €9,566 | €8,518 | -€1,048 | -11.0% |
| Current assets | 29/58 | €34,464 | €42,332 | +€7,868 | +22.8% |
| Amounts receivable within one year | 40/41 | €9,417 | €20,476 | +€11,059 | +117% |
| Trade receivables | 40 | €9,417 | €20,476 | +€11,059 | +117% |
| Cash at bank and in hand | 54/58 | €23,109 | €20,136 | -€2,973 | -12.9% |
| Deferred charges and accrued income | 490/1 | €1,938 | €1,720 | -€218 | -11.2% |
| Total equity and liabilities | 10/49 | €55,757 | €83,415 | +€27,658 | +49.6% |
| Equity | 10/15 | €39,040 | €38,662 | -€378 | -1.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €33,040 | €32,662 | -€378 | -1.1% |
| Distributable reserves | 133 | €33,040 | €32,662 | -€378 | -1.1% |
| Amounts payable | 17/49 | €16,717 | €44,753 | +€28,036 | +168% |
| Amounts payable after more than one year | 17 | €2,059 | €13,477 | +€11,418 | +555% |
| Financial debts | 170/4 | €2,059 | €13,477 | +€11,418 | +555% |
| Amounts payable within one year | 42/48 | €14,658 | €31,186 | +€16,528 | +113% |
| Current portion of amounts payable after more than one year | 42 | €6,125 | €5,845 | -€280 | -4.6% |
| Financial debts | 43 | - | €4,302 | +€4,302 | |
| Credit institutions | 430/8 | - | €4,302 | +€4,302 | |
| Trade debts | 44 | €1,221 | €260 | -€961 | -78.7% |
| Suppliers | 440/4 | €1,221 | €260 | -€961 | -78.7% |
| Taxes, remuneration and social security | 45 | €6,565 | €10,377 | +€3,812 | +58.1% |
| Taxes | 450/3 | €6,565 | €10,377 | +€3,812 | +58.1% |
| Other amounts payable | 47/48 | €747 | €10,402 | +€9,655 | +1,293% |
| Accrued charges and deferred income | 492/3 | - | €90 | +€90 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,406 | €8,627 | +€3,221 | +59.6% |
| Other operating charges | 640/8 | €901 | €993 | +€92 | +10.2% |
| Gross operating margin | 9900 | €17,407 | €32,184 | +€14,777 | +84.9% |
| Operating profit (loss) | 9901 | €11,100 | €22,564 | +€11,464 | +103% |
| Financial income | 75/76B | €7,053 | €142 | -€6,911 | -98.0% |
| Recurring financial income | 75 | €7,053 | €142 | -€6,911 | -98.0% |
| Financial charges | 65/66B | €3,309 | €3,479 | +€170 | +5.1% |
| Recurring financial charges | 65 | €3,309 | €3,479 | +€170 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €14,844 | €19,227 | +€4,383 | +29.5% |
| Income taxes | 67/77 | €3,940 | €7,605 | +€3,665 | +93.0% |
| Profit (loss) for the period | 9904 | €10,904 | €11,622 | +€718 | +6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,904 | €11,622 | +€718 | +6.6% |
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.