RTRDC: 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.
RTRDC
Largest movements
- Tangible fixed assets +€37,252
up €37,252 (+47.0%), from €79,222 to €116,474
- Intangible fixed assets +€20,915
up €20,915 (+23.0%), from €90,952 to €111,866
- Deferred charges and accrued income +€15,594
up €15,594 (+453.5%), from €3,438 to €19,032
- Cash -€9,630
down €9,630 (-37.8%), from €25,457 to €15,827
mainly Investment in fixed assets (net) (-€132,747) and Tax, wage and social debts (-€30,109)
- Short-term financial debts +€53,603
new in 2025: €53,603
- Debts after one year +€42,175
up €42,175 (+28.6%), from €147,463 to €189,638
of which Financial debts: +€43,257
- Tax, wage and social debts -€30,109
down €30,109 (-19.8%), from €152,022 to €121,913
of which Remuneration and social security: -€31,750
- Investment grants +€15,520
new in 2025: €15,520
- Accrued charges and deferred income -€14,368
down €14,368 (-94.7%), from €15,168 to €800
- Gross operating margin -€21,821
down €21,821 (-2.3%), from €940,733 to €918,913
- Staff costs -€11,245
down €11,245 (-1.3%), from €862,988 to €851,744
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 | €589,213 | €657,741 | +€68,528 | +11.6% |
| Fixed assets | 21/28 | €172,769 | €230,086 | +€57,317 | +33.2% |
| Intangible fixed assets | 21 | €90,952 | €111,866 | +€20,915 | +23.0% |
| Tangible fixed assets | 22/27 | €79,222 | €116,474 | +€37,252 | +47.0% |
| Plant, machinery and equipment | 23 | €79,222 | €116,474 | +€37,252 | +47.0% |
| Financial fixed assets | 28 | €2,596 | €1,746 | -€850 | -32.7% |
| Current assets | 29/58 | €416,444 | €427,655 | +€11,211 | +2.7% |
| Stocks and contracts in progress | 3 | €346,420 | €345,096 | -€1,324 | -0.4% |
| Stocks | 30/36 | €346,420 | €345,096 | -€1,324 | -0.4% |
| Amounts receivable within one year | 40/41 | €41,128 | €47,592 | +€6,464 | +15.7% |
| Trade receivables | 40 | €17,324 | €14,863 | -€2,461 | -14.2% |
| Other amounts receivable | 41 | €23,803 | €32,728 | +€8,925 | +37.5% |
| Current investments | 50/53 | - | €108 | +€108 | |
| Cash at bank and in hand | 54/58 | €25,457 | €15,827 | -€9,630 | -37.8% |
| Deferred charges and accrued income | 490/1 | €3,438 | €19,032 | +€15,594 | +453.5% |
| Total equity and liabilities | 10/49 | €589,213 | €657,741 | +€68,528 | +11.6% |
| Equity | 10/15 | €64,044 | €69,796 | +€5,752 | +9.0% |
| Contributions | 10/11 | €41,850 | €44,130 | +€2,280 | +5.4% |
| Reserves | 13 | €22,194 | €22,194 | = | 0.0% |
| Non-distributable reserves | 130/1 | €22,194 | €22,194 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,194 | €0 | -€22,194 | -100.0% |
| Other | 1319 | - | €22,194 | +€22,194 | |
| Profit (loss) carried forward | 14 | - | -€12,048 | -€12,048 | |
| Investment grants | 15 | - | €15,520 | +€15,520 | |
| Amounts payable | 17/49 | €525,169 | €587,945 | +€62,776 | +12.0% |
| Amounts payable after more than one year | 17 | €147,463 | €189,638 | +€42,175 | +28.6% |
| Financial debts | 170/4 | €140,574 | €183,831 | +€43,257 | +30.8% |
| Other amounts payable | 178/9 | €6,889 | €5,807 | -€1,082 | -15.7% |
| Amounts payable within one year | 42/48 | €362,538 | €397,507 | +€34,969 | +9.6% |
| Current portion of amounts payable after more than one year | 42 | €62,528 | €72,743 | +€10,216 | +16.3% |
| Financial debts | 43 | - | €53,603 | +€53,603 | |
| Credit institutions | 430/8 | - | €53,603 | +€53,603 | |
| Trade debts | 44 | €147,989 | €140,003 | -€7,986 | -5.4% |
| Suppliers | 440/4 | €147,989 | €140,003 | -€7,986 | -5.4% |
| Advances received on contracts in progress | 46 | - | €9,245 | +€9,245 | |
| Taxes, remuneration and social security | 45 | €152,022 | €121,913 | -€30,109 | -19.8% |
| Taxes | 450/3 | €40,032 | €41,672 | +€1,641 | +4.1% |
| Remuneration and social security | 454/9 | €111,990 | €80,241 | -€31,750 | -28.4% |
| Accrued charges and deferred income | 492/3 | €15,168 | €800 | -€14,368 | -94.7% |
| Remuneration, social security and pensions | 62 | €862,988 | €851,744 | -€11,245 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,745 | €75,430 | +€4,685 | +6.6% |
| Other operating charges | 640/8 | €751 | €738 | -€13 | -1.7% |
| Gross operating margin | 9900 | €940,733 | €918,913 | -€21,821 | -2.3% |
| Operating profit (loss) | 9901 | €6,249 | -€8,999 | -€15,248 | |
| Financial income | 75/76B | €6 | €4,151 | +€4,144 | +65472.2% |
| Recurring financial income | 75 | €6 | €4,151 | +€4,144 | +65472.2% |
| Financial charges | 65/66B | €5,448 | €7,153 | +€1,705 | +31.3% |
| Recurring financial charges | 65 | €5,448 | €7,153 | +€1,705 | +31.3% |
| Profit (loss) for the period before taxes | 9903 | €807 | -€12,002 | -€12,809 | |
| Income taxes | 67/77 | - | €46 | +€46 | |
| Profit (loss) for the period | 9904 | €807 | -€12,048 | -€12,855 | |
| Profit (loss) for the period to be appropriated | 9905 | €807 | -€12,048 | -€12,855 |
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 12 October 2026 via checked.be.