RTV: 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.
RTV
Largest movements
- Receivables within one year -€151,159
down €151,159 (-52.2%), from €289,831 to €138,672
of which Trade receivables: -€145,644
- Deferred charges and accrued income +€85,554
up €85,554 (+80.2%), from €106,737 to €192,291
- Cash -€81,842
down €81,842 (-49.4%), from €165,662 to €83,820
mainly Trade debts (-€128,222) and Deferred charges and accrued income (-€85,554)
- Tangible fixed assets +€7,358
up €7,358 (+127%), from €5,806 to €13,164
of which Plant, machinery and equipment: +€11,730
- Trade debts -€128,222
down €128,222 (-32.4%), from €395,150 to €266,928
- Profit (loss) carried forward +€23,011
up €23,011 (+5.2%), from -€445,136 to -€422,125
- Accrued charges and deferred income -€18,421
down €18,421 (-6.5%), from €283,565 to €265,144
- Tax, wage and social debts -€15,662
down €15,662 (-25.7%), from €60,969 to €45,307
of which Remuneration and social security: -€22,180
- Financial charges -€463,890
down €463,890 (-99.5%), from €466,372 to €2,482
of which Non-recurring financial charges: -€463,784
- Staff costs -€58,361
down €58,361 (-15.0%), from €387,840 to €329,479
- Gross operating margin -€21,412
down €21,412 (-5.2%), from €409,835 to €388,423
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 | €568,037 | €427,948 | -€140,089 | -24.7% |
| Fixed assets | 21/28 | €5,807 | €13,165 | +€7,358 | +127% |
| Tangible fixed assets | 22/27 | €5,806 | €13,164 | +€7,358 | +127% |
| Plant, machinery and equipment | 23 | €0 | €11,730 | +€11,730 | |
| Furniture and vehicles | 24 | €5,806 | €1,434 | -€4,372 | -75.3% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €562,230 | €414,783 | -€147,447 | -26.2% |
| Amounts receivable within one year | 40/41 | €289,831 | €138,672 | -€151,159 | -52.2% |
| Trade receivables | 40 | €284,316 | €138,672 | -€145,644 | -51.2% |
| Other amounts receivable | 41 | €5,515 | - | -€5,515 | |
| Cash at bank and in hand | 54/58 | €165,662 | €83,820 | -€81,842 | -49.4% |
| Deferred charges and accrued income | 490/1 | €106,737 | €192,291 | +€85,554 | +80.2% |
| Total equity and liabilities | 10/49 | €568,037 | €427,948 | -€140,089 | -24.7% |
| Equity | 10/15 | -€172,442 | -€149,431 | +€23,011 | +13.3% |
| Contributions | 10/11 | €247,894 | €247,894 | = | 0.0% |
| Reserves | 13 | €24,800 | €24,800 | = | 0.0% |
| Distributable reserves | 133 | €24,800 | €24,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€445,136 | -€422,125 | +€23,011 | +5.2% |
| Amounts payable | 17/49 | €740,479 | €577,379 | -€163,100 | -22.0% |
| Amounts payable within one year | 42/48 | €456,914 | €312,235 | -€144,679 | -31.7% |
| Financial debts | 43 | €795 | - | -€795 | |
| Credit institutions | 430/8 | €795 | - | -€795 | |
| Trade debts | 44 | €395,150 | €266,928 | -€128,222 | -32.4% |
| Suppliers | 440/4 | €395,150 | €266,928 | -€128,222 | -32.4% |
| Taxes, remuneration and social security | 45 | €60,969 | €45,307 | -€15,662 | -25.7% |
| Taxes | 450/3 | €20,190 | €26,708 | +€6,518 | +32.3% |
| Remuneration and social security | 454/9 | €40,779 | €18,599 | -€22,180 | -54.4% |
| Accrued charges and deferred income | 492/3 | €283,565 | €265,144 | -€18,421 | -6.5% |
| Non-recurring operating income | 76A | €4,971 | €534 | -€4,437 | -89.3% |
| Remuneration, social security and pensions | 62 | €387,840 | €329,479 | -€58,361 | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,303 | €6,466 | +€3,163 | +95.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,997 | €24,904 | +€1,907 | +8.3% |
| Other operating charges | 640/8 | €1,257 | €1,279 | +€22 | +1.8% |
| Gross operating margin | 9900 | €409,835 | €388,423 | -€21,412 | -5.2% |
| Operating profit (loss) | 9901 | -€5,562 | €26,295 | +€31,857 | |
| Financial income | 75/76B | €490 | €123 | -€367 | -74.9% |
| Recurring financial income | 75 | €490 | €123 | -€367 | -74.9% |
| Financial charges | 65/66B | €466,372 | €2,482 | -€463,890 | -99.5% |
| Recurring financial charges | 65 | €2,588 | €2,482 | -€106 | -4.1% |
| Non-recurring financial charges | 66B | €463,784 | - | -€463,784 | |
| Profit (loss) for the period before taxes | 9903 | -€471,444 | €23,936 | +€495,380 | |
| Income taxes | 67/77 | €1,153 | €925 | -€228 | -19.8% |
| Profit (loss) for the period | 9904 | -€472,597 | €23,011 | +€495,608 | |
| Profit (loss) for the period to be appropriated | 9905 | -€472,597 | €23,011 | +€495,608 |
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 20 October 2026 via checked.be.