RSRF: 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.
RSRF
Largest movements
- Receivables within one year +€57,983
up €57,983 (+79.9%), from €72,547 to €130,530
of which Trade receivables: +€47,598
- Tangible fixed assets -€3,550
down €3,550 (-51.7%), from €6,863 to €3,313
- Trade debts +€26,055
up €26,055 (+87.1%), from €29,898 to €55,953
- Profit (loss) carried forward +€19,621
up €19,621 (+41.9%), from €46,849 to €66,470
- Tax, wage and social debts +€7,962
up €7,962 (+76.9%), from €10,350 to €18,312
- Gross operating margin +€21,435
up €21,435 (+120.9%), from €17,732 to €39,167
- Taxes +€6,916
up €6,916 (+111.3%), from €6,212 to €13,128
- Financial income -€5,482
down €5,482 (-77.6%), from €7,063 to €1,581
of which Financial income: -€5,482
- Other operating charges -€3,004
down €3,004 (-59.3%), from €5,067 to €2,063
- Financial charges +€1,681
up €1,681 (+530.6%), from €317 to €1,998
of which Non-recurring financial charges: +€1,581
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.
Cash bridge derived
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 | €91,102 | €144,735 | +€53,632 | +58.9% |
| Fixed assets | 21/28 | €6,863 | €3,313 | -€3,550 | -51.7% |
| Tangible fixed assets | 22/27 | €6,863 | €3,313 | -€3,550 | -51.7% |
| Furniture and vehicles | 24 | €6,863 | €3,313 | -€3,550 | -51.7% |
| Current assets | 29/58 | €84,240 | €141,422 | +€57,182 | +67.9% |
| Amounts receivable within one year | 40/41 | €72,547 | €130,530 | +€57,983 | +79.9% |
| Trade receivables | 40 | €59,292 | €106,891 | +€47,598 | +80.3% |
| Other amounts receivable | 41 | €13,255 | €23,640 | +€10,385 | +78.3% |
| Cash at bank and in hand | 54/58 | €11,692 | €10,892 | -€801 | -6.8% |
| Total equity and liabilities | 10/49 | €91,102 | €144,735 | +€53,632 | +58.9% |
| Equity | 10/15 | €50,849 | €70,470 | +€19,621 | +38.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,849 | €66,470 | +€19,621 | +41.9% |
| Amounts payable | 17/49 | €40,254 | €74,265 | +€34,011 | +84.5% |
| Amounts payable within one year | 42/48 | €40,254 | €74,265 | +€34,011 | +84.5% |
| Financial debts | 43 | €6 | - | -€6 | |
| Credit institutions | 430/8 | €6 | - | -€6 | |
| Trade debts | 44 | €29,898 | €55,953 | +€26,055 | +87.1% |
| Suppliers | 440/4 | €29,898 | €55,953 | +€26,055 | +87.1% |
| Taxes, remuneration and social security | 45 | €10,350 | €18,312 | +€7,962 | +76.9% |
| Taxes | 450/3 | €10,350 | €18,312 | +€7,962 | +76.9% |
| Remuneration, social security and pensions | 62 | €384 | €387 | +€3 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,970 | €3,550 | -€420 | -10.6% |
| Other operating charges | 640/8 | €5,067 | €2,063 | -€3,004 | -59.3% |
| Gross operating margin | 9900 | €17,732 | €39,167 | +€21,435 | +120.9% |
| Operating profit (loss) | 9901 | €8,310 | €33,166 | +€24,856 | +299.1% |
| Financial income | 75/76B | €7,063 | €1,581 | -€5,482 | -77.6% |
| Recurring financial income | 75 | €7,063 | €1,581 | -€5,482 | -77.6% |
| Non-recurring financial income | 76B | €7,063 | €1,581 | -€5,482 | -77.6% |
| Financial charges | 65/66B | €317 | €1,998 | +€1,681 | +530.6% |
| Recurring financial charges | 65 | €317 | €417 | +€100 | +31.6% |
| Non-recurring financial charges | 66B | - | €1,581 | +€1,581 | |
| Profit (loss) for the period before taxes | 9903 | €15,056 | €32,749 | +€17,693 | +117.5% |
| Income taxes | 67/77 | €6,212 | €13,128 | +€6,916 | +111.3% |
| Profit (loss) for the period | 9904 | €8,845 | €19,621 | +€10,777 | +121.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,845 | €19,621 | +€10,777 | +121.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.