RTC: 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.
RTC
Largest movements
- Current investments -€989,875
down €989,875 (-99.0%), from €1.0m to €10,125
- Cash +€751,320
up €751,320 (+432.1%), from €173,877 to €925,196
mainly Current investments (+€989,875) and Depreciation (+€18,285)
- Tangible fixed assets +€24,216
up €24,216 (+6.2%), from €388,453 to €412,669
of which Land and buildings: +€29,121
- Other debts -€127,910
down €127,910 (-7.3%), from €1.8m to €1.6m
- Profit (loss) carried forward -€84,341
down €84,341 (-26.0%), from -€324,097 to -€408,439
- Financial charges -€528,866
down €528,866 (-99.9%), from €529,426 to €560
of which Non-recurring financial charges: -€527,489
- Depreciation -€82,288
down €82,288 (-81.8%), from €100,573 to €18,285
- Financial income +€19,418
up €19,418 (+19417730.0%), from €0 to €19,418
- Gross operating margin -€5,721
down €5,721 (-7.9%), from -€72,071 to -€77,791
- Taxes +€5,040
new in 2025: €5,040
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 | €1,569,890 | €1,366,152 | -€203,738 | -13.0% |
| Fixed assets | 21/28 | €388,453 | €412,669 | +€24,216 | +6.2% |
| Tangible fixed assets | 22/27 | €388,453 | €412,669 | +€24,216 | +6.2% |
| Land and buildings | 22 | €319,525 | €348,646 | +€29,121 | +9.1% |
| Plant, machinery and equipment | 23 | €28,272 | €31,298 | +€3,025 | +10.7% |
| Furniture and vehicles | 24 | €40,656 | €32,726 | -€7,930 | -19.5% |
| Current assets | 29/58 | €1,181,437 | €953,483 | -€227,955 | -19.3% |
| Amounts receivable within one year | 40/41 | €6,862 | €18,162 | +€11,300 | +164.7% |
| Trade receivables | 40 | €4,549 | €14,725 | +€10,176 | +223.7% |
| Other amounts receivable | 41 | €2,312 | €3,436 | +€1,124 | +48.6% |
| Current investments | 50/53 | €1,000,000 | €10,125 | -€989,875 | -99.0% |
| Cash at bank and in hand | 54/58 | €173,877 | €925,196 | +€751,320 | +432.1% |
| Deferred charges and accrued income | 490/1 | €699 | - | -€699 | |
| Total equity and liabilities | 10/49 | €1,569,890 | €1,366,152 | -€203,738 | -13.0% |
| Equity | 10/15 | -€187,747 | -€272,089 | -€84,341 | -44.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €74,350 | €74,350 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €68,150 | €68,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€324,097 | -€408,439 | -€84,341 | -26.0% |
| Amounts payable | 17/49 | €1,757,637 | €1,638,241 | -€119,397 | -6.8% |
| Amounts payable within one year | 42/48 | €1,757,637 | €1,638,241 | -€119,397 | -6.8% |
| Trade debts | 44 | €2,700 | €11,213 | +€8,513 | +315.3% |
| Suppliers | 440/4 | €2,700 | €11,213 | +€8,513 | +315.3% |
| Other amounts payable | 47/48 | €1,754,937 | €1,627,028 | -€127,910 | -7.3% |
| Non-recurring operating income | 76A | - | €220 | +€220 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,573 | €18,285 | -€82,288 | -81.8% |
| Other operating charges | 640/8 | €2,065 | €2,083 | +€18 | +0.9% |
| Gross operating margin | 9900 | -€72,071 | -€77,791 | -€5,721 | -7.9% |
| Operating profit (loss) | 9901 | -€174,708 | -€98,159 | +€76,549 | +43.8% |
| Financial income | 75/76B | €0 | €19,418 | +€19,418 | +19417730.0% |
| Recurring financial income | 75 | €0 | €19,418 | +€19,418 | +19417730.0% |
| Financial charges | 65/66B | €529,426 | €560 | -€528,866 | -99.9% |
| Recurring financial charges | 65 | €1,937 | €560 | -€1,377 | -71.1% |
| Non-recurring financial charges | 66B | €527,489 | - | -€527,489 | |
| Profit (loss) for the period before taxes | 9903 | -€704,134 | -€79,301 | +€624,832 | +88.7% |
| Income taxes | 67/77 | - | €5,040 | +€5,040 | |
| Profit (loss) for the period | 9904 | -€704,134 | -€84,341 | +€619,792 | +88.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€704,134 | -€84,341 | +€619,792 | +88.0% |
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 11 October 2026 via checked.be.