RT-Advisors: 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.
RT-Advisors
Largest movements
- Receivables within one year -€52,187
down €52,187 (-26.8%), from €194,800 to €142,613
of which Trade receivables: -€36,510
- Tangible fixed assets -€27,288
down €27,288 (-9.2%), from €295,484 to €268,195
of which Land and buildings: -€20,127
- Intangible fixed assets +€21,451
up €21,451 (+86.3%), from €24,861 to €46,311
- Deferred charges and accrued income -€15,439
down €15,439 (-22.5%), from €68,641 to €53,202
- Debts after one year -€47,399
down €47,399 (-15.9%), from €298,369 to €250,970
- Trade debts -€33,780
down €33,780 (-32.8%), from €103,088 to €69,308
- Tax, wage and social debts -€31,221
down €31,221 (-70.8%), from €44,087 to €12,866
of which Remuneration and social security: -€18,654
- Short-term financial debts +€22,514
up €22,514 (+75.0%), from €30,000 to €52,514
- Accrued charges and deferred income +€15,688
up €15,688 (+1194.8%), from €1,313 to €17,001
- Staff costs -€91,187
down €91,187 (-48.0%), from €189,984 to €98,797
- Gross operating margin -€60,898
down €60,898 (-24.2%), from €251,789 to €190,891
- Other operating charges +€11,130
up €11,130 (+226.6%), from €4,913 to €16,043
- Depreciation +€10,085
up €10,085 (+30.7%), from €32,802 to €42,888
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 | €588,751 | €518,803 | -€69,949 | -11.9% |
| Fixed assets | 21/28 | €324,733 | €318,371 | -€6,362 | -2.0% |
| Intangible fixed assets | 21 | €24,861 | €46,311 | +€21,451 | +86.3% |
| Tangible fixed assets | 22/27 | €295,484 | €268,195 | -€27,288 | -9.2% |
| Land and buildings | 22 | €280,598 | €260,470 | -€20,127 | -7.2% |
| Plant, machinery and equipment | 23 | €6,006 | €3,285 | -€2,721 | -45.3% |
| Furniture and vehicles | 24 | €8,880 | €4,440 | -€4,440 | -50.0% |
| Financial fixed assets | 28 | €4,389 | €3,865 | -€524 | -11.9% |
| Current assets | 29/58 | €264,018 | €200,431 | -€63,587 | -24.1% |
| Amounts receivable within one year | 40/41 | €194,800 | €142,613 | -€52,187 | -26.8% |
| Trade receivables | 40 | €169,773 | €133,263 | -€36,510 | -21.5% |
| Other amounts receivable | 41 | €25,026 | €9,350 | -€15,677 | -62.6% |
| Cash at bank and in hand | 54/58 | €577 | €4,616 | +€4,039 | +699.5% |
| Deferred charges and accrued income | 490/1 | €68,641 | €53,202 | -€15,439 | -22.5% |
| Total equity and liabilities | 10/49 | €588,751 | €518,803 | -€69,949 | -11.9% |
| Equity | 10/15 | €48,816 | €61,185 | +€12,369 | +25.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €28,024 | €39,024 | +€11,000 | +39.3% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €26,024 | €37,024 | +€11,000 | +42.3% |
| Profit (loss) carried forward | 14 | €792 | €2,161 | +€1,369 | +172.8% |
| Amounts payable | 17/49 | €539,935 | €457,618 | -€82,317 | -15.2% |
| Amounts payable after more than one year | 17 | €298,369 | €250,970 | -€47,399 | -15.9% |
| Financial debts | 170/4 | €298,369 | €250,970 | -€47,399 | -15.9% |
| Amounts payable within one year | 42/48 | €240,253 | €189,647 | -€50,606 | -21.1% |
| Current portion of amounts payable after more than one year | 42 | €63,078 | €53,905 | -€9,172 | -14.5% |
| Financial debts | 43 | €30,000 | €52,514 | +€22,514 | +75.0% |
| Credit institutions | 430/8 | €30,000 | €52,514 | +€22,514 | +75.0% |
| Trade debts | 44 | €103,088 | €69,308 | -€33,780 | -32.8% |
| Suppliers | 440/4 | €103,088 | €69,308 | -€33,780 | -32.8% |
| Advances received on contracts in progress | 46 | - | €1,053 | +€1,053 | |
| Taxes, remuneration and social security | 45 | €44,087 | €12,866 | -€31,221 | -70.8% |
| Taxes | 450/3 | €12,568 | - | -€12,568 | |
| Remuneration and social security | 454/9 | €31,520 | €12,866 | -€18,654 | -59.2% |
| Accrued charges and deferred income | 492/3 | €1,313 | €17,001 | +€15,688 | +1194.8% |
| Remuneration, social security and pensions | 62 | €189,984 | €98,797 | -€91,187 | -48.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,802 | €42,888 | +€10,085 | +30.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €760 | - | -€760 | |
| Other operating charges | 640/8 | €4,913 | €16,043 | +€11,130 | +226.6% |
| Gross operating margin | 9900 | €251,789 | €190,891 | -€60,898 | -24.2% |
| Operating profit (loss) | 9901 | €23,329 | €33,163 | +€9,833 | +42.1% |
| Financial income | 75/76B | €6,040 | €5,850 | -€190 | -3.1% |
| Recurring financial income | 75 | €6,040 | €5,850 | -€190 | -3.1% |
| Financial charges | 65/66B | €22,641 | €20,244 | -€2,397 | -10.6% |
| Recurring financial charges | 65 | €22,641 | €18,145 | -€4,497 | -19.9% |
| Non-recurring financial charges | 66B | - | €2,100 | +€2,100 | |
| Profit (loss) for the period before taxes | 9903 | €6,728 | €18,768 | +€12,040 | +178.9% |
| Income taxes | 67/77 | €4,714 | €6,400 | +€1,686 | +35.8% |
| Profit (loss) for the period | 9904 | €2,015 | €12,369 | +€10,354 | +513.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,015 | €12,369 | +€10,354 | +513.9% |
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 10 October 2026 via checked.be.