RTES: 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.
RTES
Largest movements
- Cash -€245,300
down €245,300 (-84.1%), from €291,660 to €46,359
mainly Current investments (-€181,860) and Contributions, distributions and other (-€76,259)
- Current investments +€181,860
new in 2025: €181,860
- Receivables within one year +€22,273
up €22,273 (+176%), from €12,665 to €34,938
of which Trade receivables: +€26,672
- Other debts -€25,741
down €25,741 (-25.2%), from €102,000 to €76,259
- Tax, wage and social debts -€15,170
down €15,170 (-58.5%), from €25,930 to €10,760
of which Taxes: -€15,170
- Gross operating margin +€20,772
up €20,772 (+25.5%), from €81,394 to €102,166
- Taxes +€8,949
up €8,949 (+54.3%), from €16,493 to €25,442
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 | €306,705 | €265,794 | -€40,911 | -13.3% |
| Fixed assets | 21/28 | €2,380 | €1,379 | -€1,002 | -42.1% |
| Tangible fixed assets | 22/27 | €2,380 | €1,379 | -€1,002 | -42.1% |
| Plant, machinery and equipment | 23 | €2,380 | €1,379 | -€1,002 | -42.1% |
| Current assets | 29/58 | €304,325 | €264,415 | -€39,910 | -13.1% |
| Amounts receivable within one year | 40/41 | €12,665 | €34,938 | +€22,273 | +176% |
| Trade receivables | 40 | €0 | €26,672 | +€26,672 | |
| Other amounts receivable | 41 | €12,665 | €8,266 | -€4,399 | -34.7% |
| Current investments | 50/53 | - | €181,860 | +€181,860 | |
| Cash at bank and in hand | 54/58 | €291,660 | €46,359 | -€245,300 | -84.1% |
| Deferred charges and accrued income | 490/1 | €0 | €1,257 | +€1,257 | |
| Total equity and liabilities | 10/49 | €306,705 | €265,794 | -€40,911 | -13.3% |
| Equity | 10/15 | €178,775 | €178,775 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €173,775 | €173,775 | = | 0.0% |
| Amounts payable | 17/49 | €127,930 | €87,019 | -€40,911 | -32.0% |
| Amounts payable within one year | 42/48 | €127,930 | €87,019 | -€40,911 | -32.0% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €25,930 | €10,760 | -€15,170 | -58.5% |
| Taxes | 450/3 | €25,930 | €10,760 | -€15,170 | -58.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €102,000 | €76,259 | -€25,741 | -25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €525 | €1,002 | +€476 | +90.6% |
| Other operating charges | 640/8 | €125 | €224 | +€99 | +79.1% |
| Gross operating margin | 9900 | €81,394 | €102,166 | +€20,772 | +25.5% |
| Operating profit (loss) | 9901 | €80,744 | €100,941 | +€20,197 | +25.0% |
| Financial income | 75/76B | €1,778 | €804 | -€973 | -54.8% |
| Recurring financial income | 75 | €1,778 | €804 | -€973 | -54.8% |
| Financial charges | 65/66B | €55 | €44 | -€11 | -19.5% |
| Recurring financial charges | 65 | €55 | €44 | -€11 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €82,466 | €101,701 | +€19,234 | +23.3% |
| Income taxes | 67/77 | €16,493 | €25,442 | +€8,949 | +54.3% |
| Profit (loss) for the period | 9904 | €65,973 | €76,259 | +€10,286 | +15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €65,973 | €76,259 | +€10,286 | +15.6% |
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 31 October 2026 via checked.be.