RSM2: 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.
RSM2
Largest movements
- Stocks and contracts -€50,739
down €50,739 (-14.6%), from €347,966 to €297,227
- Receivables within one year -€39,614
down €39,614 (-100.0%), from €39,614 to €0
- Cash -€15,917
down €15,917 (-93.5%), from €17,018 to €1,101
mainly Trade debts (-€130,942) and Investment in fixed assets (net) (-€12,705)
- Deferred charges and accrued income +€5,300
up €5,300 (+296.9%), from €1,785 to €7,085
- Trade debts -€130,942
down €130,942 (-41.0%), from €319,359 to €188,417
- Profit (loss) carried forward +€22,828
up €22,828 (+41.7%), from €54,683 to €77,511
- Other debts +€11,798
up €11,798 (+35.8%), from €32,971 to €44,769
- Debts after one year -€9,440
down €9,440 (-36.7%), from €25,712 to €16,272
- Gross operating margin +€116,382
up €116,382 (+128.6%), from €90,521 to €206,903
- Staff costs +€32,865
up €32,865 (+31.7%), from €103,765 to €136,630
- Taxes +€15,079
up €15,079, from -€1,027 to €14,052
- Other operating charges +€8,982
up €8,982 (+585.1%), from €1,535 to €10,517
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €506,988 | €402,722 | -€104,266 | -20.6% |
| Fixed assets | 21/28 | €100,605 | €97,309 | -€3,296 | -3.3% |
| Tangible fixed assets | 22/27 | €95,555 | €92,259 | -€3,296 | -3.4% |
| Land and buildings | 22 | €56,037 | €60,303 | +€4,266 | +7.6% |
| Plant, machinery and equipment | 23 | €354 | €2,881 | +€2,527 | +713.8% |
| Furniture and vehicles | 24 | €217 | €911 | +€694 | +319.8% |
| Leasing and similar rights | 25 | €38,947 | €28,164 | -€10,783 | -27.7% |
| Financial fixed assets | 28 | €5,050 | €5,050 | = | 0.0% |
| Current assets | 29/58 | €406,383 | €305,413 | -€100,970 | -24.8% |
| Stocks and contracts in progress | 3 | €347,966 | €297,227 | -€50,739 | -14.6% |
| Stocks | 30/36 | €347,966 | €297,227 | -€50,739 | -14.6% |
| Amounts receivable within one year | 40/41 | €39,614 | €0 | -€39,614 | -100.0% |
| Trade receivables | 40 | €39,614 | €0 | -€39,614 | -100.0% |
| Cash at bank and in hand | 54/58 | €17,018 | €1,101 | -€15,917 | -93.5% |
| Deferred charges and accrued income | 490/1 | €1,785 | €7,085 | +€5,300 | +296.9% |
| Total equity and liabilities | 10/49 | €506,988 | €402,722 | -€104,266 | -20.6% |
| Equity | 10/15 | €76,683 | €99,511 | +€22,828 | +29.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,683 | €77,511 | +€22,828 | +41.7% |
| Amounts payable | 17/49 | €430,305 | €303,211 | -€127,094 | -29.5% |
| Amounts payable after more than one year | 17 | €25,712 | €16,272 | -€9,440 | -36.7% |
| Financial debts | 170/4 | €25,712 | €16,272 | -€9,440 | -36.7% |
| Amounts payable within one year | 42/48 | €404,593 | €286,939 | -€117,654 | -29.1% |
| Current portion of amounts payable after more than one year | 42 | €9,359 | €9,440 | +€81 | +0.9% |
| Financial debts | 43 | €0 | €0 | = | |
| Credit institutions | 430/8 | €0 | €0 | = | |
| Trade debts | 44 | €319,359 | €188,417 | -€130,942 | -41.0% |
| Suppliers | 440/4 | €319,359 | €188,417 | -€130,942 | -41.0% |
| Taxes, remuneration and social security | 45 | €42,904 | €44,313 | +€1,409 | +3.3% |
| Taxes | 450/3 | €19,991 | €26,228 | +€6,237 | +31.2% |
| Remuneration and social security | 454/9 | €22,913 | €18,085 | -€4,828 | -21.1% |
| Other amounts payable | 47/48 | €32,971 | €44,769 | +€11,798 | +35.8% |
| Remuneration, social security and pensions | 62 | €103,765 | €136,630 | +€32,865 | +31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,423 | €16,001 | +€1,578 | +10.9% |
| Other operating charges | 640/8 | €1,535 | €10,517 | +€8,982 | +585.1% |
| Gross operating margin | 9900 | €90,521 | €206,903 | +€116,382 | +128.6% |
| Operating profit (loss) | 9901 | -€29,202 | €43,755 | +€72,957 | |
| Financial income | 75/76B | €1,433 | €1,094 | -€339 | -23.7% |
| Recurring financial income | 75 | €1,433 | €1,094 | -€339 | -23.7% |
| Financial charges | 65/66B | €5,916 | €7,969 | +€2,053 | +34.7% |
| Recurring financial charges | 65 | €5,916 | €7,969 | +€2,053 | +34.7% |
| Profit (loss) for the period before taxes | 9903 | -€33,685 | €36,880 | +€70,565 | |
| Income taxes | 67/77 | -€1,027 | €14,052 | +€15,079 | |
| Profit (loss) for the period | 9904 | -€32,658 | €22,828 | +€55,486 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,658 | €22,828 | +€55,486 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.