RV: what changed
Two fiscal 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.
RV
Largest movements
- Receivables within one year +€109,169
up €109,169 (+20.0%), from €545,150 to €654,319
of which Trade receivables: +€109,169
- Other debts +€179,869
up €179,869 (+19.0%), from €947,063 to €1.1m
- Reserves -€91,056
down €91,056 (-39.5%), from €230,781 to €139,725
of which Distributable reserves: -€91,056
- Tax, wage and social debts +€19,375
up €19,375 (+32.6%), from €59,436 to €78,811
of which Taxes: +€19,375
- Gross operating margin -€1,771
down €1,771 (-4.3%), from €41,036 to €39,265
- Financial charges -€1,760
down €1,760 (-72.4%), from €2,431 to €671
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 | €1,746,935 | €1,857,678 | +€110,743 | +6.3% |
| Fixed assets | 21/28 | €1,200,000 | €1,200,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,200,000 | €1,200,000 | = | 0.0% |
| Current assets | 29/58 | €546,935 | €657,678 | +€110,743 | +20.2% |
| Amounts receivable within one year | 40/41 | €545,150 | €654,319 | +€109,169 | +20.0% |
| Trade receivables | 40 | €545,150 | €654,319 | +€109,169 | +20.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,785 | €3,359 | +€1,574 | +88.2% |
| Total equity and liabilities | 10/49 | €1,746,935 | €1,857,678 | +€110,743 | +6.3% |
| Equity | 10/15 | €480,781 | €389,725 | -€91,056 | -18.9% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €230,781 | €139,725 | -€91,056 | -39.5% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €205,781 | €114,725 | -€91,056 | -44.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,266,154 | €1,467,953 | +€201,799 | +15.9% |
| Amounts payable after more than one year | 17 | €250,000 | €250,000 | = | 0.0% |
| Financial debts | 170/4 | €250,000 | €250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,016,154 | €1,217,172 | +€201,019 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €5,898 | €5,759 | -€139 | -2.4% |
| Credit institutions | 430/8 | €5,898 | €5,759 | -€139 | -2.4% |
| Trade debts | 44 | €3,757 | €5,671 | +€1,914 | +50.9% |
| Suppliers | 440/4 | €3,757 | €5,671 | +€1,914 | +50.9% |
| Taxes, remuneration and social security | 45 | €59,436 | €78,811 | +€19,375 | +32.6% |
| Taxes | 450/3 | €5,300 | €24,675 | +€19,375 | +365.6% |
| Remuneration and social security | 454/9 | €54,136 | €54,136 | = | 0.0% |
| Other amounts payable | 47/48 | €947,063 | €1,126,932 | +€179,869 | +19.0% |
| Accrued charges and deferred income | 492/3 | €0 | €780 | +€780 | |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €41,036 | €39,265 | -€1,771 | -4.3% |
| Operating profit (loss) | 9901 | €40,068 | €38,266 | -€1,802 | -4.5% |
| Financial charges | 65/66B | €2,431 | €671 | -€1,760 | -72.4% |
| Recurring financial charges | 65 | €2,431 | €671 | -€1,760 | -72.4% |
| Profit (loss) for the period before taxes | 9903 | €37,637 | €37,595 | -€42 | -0.1% |
| Income taxes | 67/77 | €10,265 | €10,281 | +€16 | +0.2% |
| Profit (loss) for the period | 9904 | €27,372 | €27,315 | -€58 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,372 | €27,315 | -€58 | -0.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.