RSL 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.
RSL MANAGEMENT
Largest movements
- Tangible fixed assets -€55,131
down €55,131 (-2.6%), from €2.1m to €2.1m
of which Land and buildings: -€38,976
- Profit (loss) carried forward -€101,103
down €101,103 (-26.3%), from €385,013 to €283,910
- Other debts +€56,353
up €56,353 (+6.4%), from €880,899 to €937,252
- Debts after one year -€52,846
down €52,846 (-5.4%), from €977,053 to €924,207
- Turnover -€70,007
down €70,007 (-28.0%), from €250,007 to €180,000
- Gross operating margin -€64,463
down €64,463 (-51.1%), from €126,218 to €61,755
- Depreciation +€32,954
up €32,954 (+31.7%), from €103,964 to €136,918
- Purchases and services -€5,781
down €5,781 (-4.5%), from €127,496 to €121,715
- Taxes +€3,226
up €3,226, from -€2,903 to €323
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 | €2,394,095 | €2,319,245 | -€74,849 | -3.1% |
| Fixed assets | 21/28 | €2,134,082 | €2,078,951 | -€55,131 | -2.6% |
| Tangible fixed assets | 22/27 | €2,134,032 | €2,078,901 | -€55,131 | -2.6% |
| Land and buildings | 22 | €1,908,855 | €1,869,880 | -€38,976 | -2.0% |
| Furniture and vehicles | 24 | €225,177 | €209,021 | -€16,156 | -7.2% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €260,012 | €240,295 | -€19,718 | -7.6% |
| Amounts receivable within one year | 40/41 | €235,975 | €227,480 | -€8,495 | -3.6% |
| Trade receivables | 40 | €10,975 | €2,480 | -€8,495 | -77.4% |
| Other amounts receivable | 41 | €225,000 | €225,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €24,037 | €12,815 | -€11,223 | -46.7% |
| Total equity and liabilities | 10/49 | €2,394,095 | €2,319,245 | -€74,849 | -3.1% |
| Equity | 10/15 | €389,013 | €287,910 | -€101,103 | -26.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Capital | 10 | €4,000 | €4,000 | = | 0.0% |
| Issued capital | 100 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €385,013 | €283,910 | -€101,103 | -26.3% |
| Amounts payable | 17/49 | €2,005,081 | €2,031,336 | +€26,254 | +1.3% |
| Amounts payable after more than one year | 17 | €977,053 | €924,207 | -€52,846 | -5.4% |
| Financial debts | 170/4 | €977,053 | €924,207 | -€52,846 | -5.4% |
| Amounts payable within one year | 42/48 | €1,028,029 | €1,107,129 | +€79,100 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €52,054 | €52,846 | +€791 | +1.5% |
| Trade debts | 44 | €75,000 | €75,000 | = | 0.0% |
| Suppliers | 440/4 | €75,000 | €75,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €20,076 | €42,031 | +€21,956 | +109% |
| Taxes | 450/3 | €12,961 | €9,815 | -€3,146 | -24.3% |
| Remuneration and social security | 454/9 | €7,115 | €32,217 | +€25,102 | +353% |
| Other amounts payable | 47/48 | €880,899 | €937,252 | +€56,353 | +6.4% |
| Turnover | 70 | €250,007 | €180,000 | -€70,007 | -28.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €127,496 | €121,715 | -€5,781 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,964 | €136,918 | +€32,954 | +31.7% |
| Other operating charges | 640/8 | €8,248 | €9,802 | +€1,553 | +18.8% |
| Gross operating margin | 9900 | €126,218 | €61,755 | -€64,463 | -51.1% |
| Operating profit (loss) | 9901 | €14,006 | -€84,965 | -€98,971 | |
| Financial charges | 65/66B | €16,181 | €15,815 | -€366 | -2.3% |
| Recurring financial charges | 65 | €16,181 | €15,815 | -€366 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,175 | -€100,780 | -€98,605 | -4,534% |
| Income taxes | 67/77 | -€2,903 | €323 | +€3,226 | |
| Profit (loss) for the period | 9904 | €729 | -€101,103 | -€101,832 | |
| Profit (loss) for the period to be appropriated | 9905 | €729 | -€101,103 | -€101,832 |
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 23 October 2026 via checked.be.