RSR SPA: 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.
RSR SPA
Largest movements
- Tangible fixed assets -€268,289
down €268,289 (-11.9%), from €2.3m to €2.0m
of which Land and buildings: -€162,426
- Cash +€222,916
up €222,916 (+248%), from €89,893 to €312,808
mainly Depreciation (+€283,557) and Trade debts (+€188,183)
- Debts after one year -€243,934
down €243,934 (-35.0%), from €697,620 to €453,687
- Trade debts +€188,183
up €188,183 (+26.3%), from €714,963 to €903,146
- Gross operating margin -€68,217
down €68,217 (-12.6%), from €542,925 to €474,708
- Taxes -€18,501
down €18,501 (-99.8%), from €18,542 to €41
- Depreciation +€8,124
up €8,124 (+2.9%), from €275,433 to €283,557
- Financial charges -€5,892
down €5,892 (-9.6%), from €61,284 to €55,392
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 | €2,558,286 | €2,493,629 | -€64,658 | -2.5% |
| Fixed assets | 21/28 | €2,253,737 | €1,983,986 | -€269,751 | -12.0% |
| Tangible fixed assets | 22/27 | €2,252,075 | €1,983,786 | -€268,289 | -11.9% |
| Land and buildings | 22 | €1,927,786 | €1,765,359 | -€162,426 | -8.4% |
| Plant, machinery and equipment | 23 | €52,437 | €55,487 | +€3,049 | +5.8% |
| Furniture and vehicles | 24 | €271,852 | €162,940 | -€108,912 | -40.1% |
| Financial fixed assets | 28 | €1,663 | €200 | -€1,463 | -88.0% |
| Current assets | 29/58 | €304,549 | €509,643 | +€205,094 | +67.3% |
| Amounts receivable within one year | 40/41 | €214,151 | €196,055 | -€18,096 | -8.5% |
| Trade receivables | 40 | €103,682 | €124,451 | +€20,770 | +20.0% |
| Other amounts receivable | 41 | €110,469 | €71,604 | -€38,865 | -35.2% |
| Cash at bank and in hand | 54/58 | €89,893 | €312,808 | +€222,916 | +248% |
| Deferred charges and accrued income | 490/1 | €506 | €779 | +€274 | +54.1% |
| Total equity and liabilities | 10/49 | €2,558,286 | €2,493,629 | -€64,658 | -2.5% |
| Equity | 10/15 | €843,147 | €839,379 | -€3,768 | -0.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €830,747 | €826,979 | -€3,768 | -0.5% |
| Distributable reserves | 133 | €830,747 | €826,979 | -€3,768 | -0.5% |
| Amounts payable | 17/49 | €1,715,139 | €1,654,250 | -€60,889 | -3.6% |
| Amounts payable after more than one year | 17 | €697,620 | €453,687 | -€243,934 | -35.0% |
| Financial debts | 170/4 | €697,620 | €453,687 | -€243,934 | -35.0% |
| Amounts payable within one year | 42/48 | €1,017,519 | €1,194,096 | +€176,577 | +17.4% |
| Current portion of amounts payable after more than one year | 42 | €243,934 | €243,934 | = | 0.0% |
| Trade debts | 44 | €714,963 | €903,146 | +€188,183 | +26.3% |
| Suppliers | 440/4 | €714,963 | €903,146 | +€188,183 | +26.3% |
| Taxes, remuneration and social security | 45 | €58,325 | €46,720 | -€11,606 | -19.9% |
| Taxes | 450/3 | €38,828 | €29,880 | -€8,948 | -23.0% |
| Remuneration and social security | 454/9 | €19,498 | €16,839 | -€2,658 | -13.6% |
| Other amounts payable | 47/48 | €296 | €296 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | €6,467 | +€6,467 | |
| Remuneration, social security and pensions | 62 | €106,251 | €110,488 | +€4,237 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €275,433 | €283,557 | +€8,124 | +2.9% |
| Other operating charges | 640/8 | €27,691 | €29,050 | +€1,360 | +4.9% |
| Gross operating margin | 9900 | €542,925 | €474,708 | -€68,217 | -12.6% |
| Operating profit (loss) | 9901 | €133,551 | €51,613 | -€81,939 | -61.4% |
| Financial income | 75/76B | €2,279 | €53 | -€2,226 | -97.7% |
| Recurring financial income | 75 | €2,279 | €53 | -€2,226 | -97.7% |
| Financial charges | 65/66B | €61,284 | €55,392 | -€5,892 | -9.6% |
| Recurring financial charges | 65 | €61,284 | €55,392 | -€5,892 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €74,546 | -€3,727 | -€78,273 | |
| Income taxes | 67/77 | €18,542 | €41 | -€18,501 | -99.8% |
| Profit (loss) for the period | 9904 | €56,004 | -€3,768 | -€59,772 | |
| Profit (loss) for the period to be appropriated | 9905 | €56,004 | -€3,768 | -€59,772 |
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 25 October 2026 via checked.be.