RV: 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.
RV
Largest movements
- Stocks and contracts +€34,815
up €34,815 (+26.7%), from €130,293 to €165,108
- Tangible fixed assets -€29,964
down €29,964 (-5.1%), from €592,464 to €562,501
of which Furniture and vehicles: -€42,877
- Reserves +€78,600
new in 2025: €78,600
- Debts after one year -€51,968
down €51,968 (-14.9%), from €347,896 to €295,927
- Other debts -€49,239
down €49,239 (-55.7%), from €88,403 to €39,164
- Tax, wage and social debts +€48,098
up €48,098 (+470.4%), from €10,225 to €58,322
of which Taxes: +€38,481
- Trade debts -€9,392
down €9,392 (-21.3%), from €44,187 to €34,795
- Gross operating margin +€98,127
up €98,127 (+48.9%), from €200,592 to €298,718
- Staff costs +€21,998
up €21,998 (+63.8%), from €34,495 to €56,493
- Taxes +€7,505
up €7,505 (+21.5%), from €34,863 to €42,368
- Depreciation +€7,199
up €7,199 (+10.1%), from €71,483 to €78,682
- Other operating charges -€6,014
down €6,014 (-28.9%), from €20,842 to €14,828
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 | €750,448 | €761,973 | +€11,525 | +1.5% |
| Fixed assets | 21/28 | €595,273 | €564,859 | -€30,414 | -5.1% |
| Intangible fixed assets | 21 | €2,808 | €2,358 | -€450 | -16.0% |
| Tangible fixed assets | 22/27 | €592,464 | €562,501 | -€29,964 | -5.1% |
| Land and buildings | 22 | €412,796 | €431,814 | +€19,018 | +4.6% |
| Plant, machinery and equipment | 23 | €13,512 | €7,407 | -€6,104 | -45.2% |
| Furniture and vehicles | 24 | €166,157 | €123,280 | -€42,877 | -25.8% |
| Current assets | 29/58 | €155,175 | €197,114 | +€41,939 | +27.0% |
| Stocks and contracts in progress | 3 | €130,293 | €165,108 | +€34,815 | +26.7% |
| Stocks | 30/36 | €130,293 | €165,108 | +€34,815 | +26.7% |
| Amounts receivable within one year | 40/41 | €299 | €1,800 | +€1,500 | +501.3% |
| Trade receivables | 40 | €136 | €346 | +€210 | +154.1% |
| Other amounts receivable | 41 | €163 | €1,454 | +€1,291 | +791.1% |
| Cash at bank and in hand | 54/58 | €24,583 | €25,523 | +€940 | +3.8% |
| Deferred charges and accrued income | 490/1 | - | €4,684 | +€4,684 | |
| Total equity and liabilities | 10/49 | €750,448 | €761,973 | +€11,525 | +1.5% |
| Equity | 10/15 | €210,948 | €289,613 | +€78,665 | +37.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | - | €78,600 | +€78,600 | |
| Distributable reserves | 133 | - | €78,600 | +€78,600 | |
| Profit (loss) carried forward | 14 | €204,948 | €205,013 | +€65 | 0.0% |
| Amounts payable | 17/49 | €539,500 | €472,360 | -€67,140 | -12.4% |
| Amounts payable after more than one year | 17 | €347,896 | €295,927 | -€51,968 | -14.9% |
| Financial debts | 170/4 | €347,896 | €295,927 | -€51,968 | -14.9% |
| Amounts payable within one year | 42/48 | €191,605 | €174,139 | -€17,466 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €48,790 | €41,857 | -€6,933 | -14.2% |
| Trade debts | 44 | €44,187 | €34,795 | -€9,392 | -21.3% |
| Suppliers | 440/4 | €44,187 | €34,795 | -€9,392 | -21.3% |
| Taxes, remuneration and social security | 45 | €10,225 | €58,322 | +€48,098 | +470.4% |
| Taxes | 450/3 | €5,924 | €44,405 | +€38,481 | +649.6% |
| Remuneration and social security | 454/9 | €4,301 | €13,917 | +€9,616 | +223.6% |
| Other amounts payable | 47/48 | €88,403 | €39,164 | -€49,239 | -55.7% |
| Accrued charges and deferred income | 492/3 | - | €2,294 | +€2,294 | |
| Non-recurring operating income | 76A | €1,205 | - | -€1,205 | |
| Remuneration, social security and pensions | 62 | €34,495 | €56,493 | +€21,998 | +63.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,483 | €78,682 | +€7,199 | +10.1% |
| Other operating charges | 640/8 | €20,842 | €14,828 | -€6,014 | -28.9% |
| Gross operating margin | 9900 | €200,592 | €298,718 | +€98,127 | +48.9% |
| Operating profit (loss) | 9901 | €73,772 | €148,715 | +€74,944 | +101.6% |
| Financial income | 75/76B | €41 | €9 | -€33 | -79.2% |
| Recurring financial income | 75 | €41 | €9 | -€33 | -79.2% |
| Financial charges | 65/66B | €26,362 | €27,691 | +€1,328 | +5.0% |
| Recurring financial charges | 65 | €26,362 | €26,189 | -€173 | -0.7% |
| Non-recurring financial charges | 66B | - | €1,501 | +€1,501 | |
| Profit (loss) for the period before taxes | 9903 | €47,451 | €121,033 | +€73,583 | +155.1% |
| Income taxes | 67/77 | €34,863 | €42,368 | +€7,505 | +21.5% |
| Profit (loss) for the period | 9904 | €12,588 | €78,665 | +€66,077 | +524.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,588 | €78,665 | +€66,077 | +524.9% |
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 10 October 2026 via checked.be.