RVBL: 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.
RVBL
Largest movements
- Cash -€401,589
down €401,589 (-51.1%), from €785,246 to €383,657
mainly Contributions, distributions and other (-€350,000) and Investment in fixed assets (net) (-€57,506)
- Tangible fixed assets +€47,961
up €47,961 (+539%), from €8,900 to €56,861
of which Other tangible fixed assets: +€54,466
- Receivables within one year +€31,883
up €31,883 (+337%), from €9,453 to €41,336
of which Trade receivables: +€32,671
- Profit (loss) carried forward -€336,362
down €336,362 (-35.4%), from €950,904 to €614,542
- Trade debts +€28,646
up €28,646 (+2,102%), from €1,363 to €30,009
- Other debts -€16,000
no longer reported in 2025 (was €16,000)
- Financial income -€1.0m
down €1.0m (-100.0%), from €1.0m to €2
of which Non-recurring financial income: -€815,279
- Financial charges -€69,685
down €69,685 (-95.2%), from €73,182 to €3,498
- Gross operating margin -€38,529
down €38,529 (-58.8%), from €65,481 to €26,952
- Depreciation +€3,263
up €3,263 (+51.9%), from €6,281 to €9,544
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 | €1,053,777 | €732,724 | -€321,053 | -30.5% |
| Fixed assets | 21/28 | €8,900 | €56,861 | +€47,961 | +539% |
| Tangible fixed assets | 22/27 | €8,900 | €56,861 | +€47,961 | +539% |
| Plant, machinery and equipment | 23 | €2,643 | €2,038 | -€605 | -22.9% |
| Furniture and vehicles | 24 | €6,257 | €357 | -€5,900 | -94.3% |
| Other tangible fixed assets | 26 | - | €54,466 | +€54,466 | |
| Current assets | 29/58 | €1,044,877 | €675,863 | -€369,014 | -35.3% |
| Amounts receivable after more than one year | 29 | €250,000 | €250,000 | = | 0.0% |
| Trade receivables | 290 | €250,000 | - | -€250,000 | |
| Other amounts receivable | 291 | - | €250,000 | +€250,000 | |
| Stocks and contracts in progress | 3 | - | €870 | +€870 | |
| Stocks | 30/36 | - | €870 | +€870 | |
| Amounts receivable within one year | 40/41 | €9,453 | €41,336 | +€31,883 | +337% |
| Trade receivables | 40 | €7,980 | €40,651 | +€32,671 | +409% |
| Other amounts receivable | 41 | €1,473 | €685 | -€788 | -53.5% |
| Cash at bank and in hand | 54/58 | €785,246 | €383,657 | -€401,589 | -51.1% |
| Deferred charges and accrued income | 490/1 | €179 | - | -€179 | |
| Total equity and liabilities | 10/49 | €1,053,777 | €732,724 | -€321,053 | -30.5% |
| Equity | 10/15 | €951,904 | €615,542 | -€336,362 | -35.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €950,904 | €614,542 | -€336,362 | -35.4% |
| Amounts payable | 17/49 | €101,873 | €117,182 | +€15,309 | +15.0% |
| Amounts payable after more than one year | 17 | €80,000 | €80,000 | = | 0.0% |
| Financial debts | 170/4 | - | €80,000 | +€80,000 | |
| Other amounts payable | 178/9 | €80,000 | - | -€80,000 | |
| Amounts payable within one year | 42/48 | €21,873 | €34,782 | +€12,909 | +59.0% |
| Trade debts | 44 | €1,363 | €30,009 | +€28,646 | +2,102% |
| Suppliers | 440/4 | €1,363 | €30,009 | +€28,646 | +2,102% |
| Taxes, remuneration and social security | 45 | €4,510 | €4,773 | +€263 | +5.8% |
| Taxes | 450/3 | €4,510 | €4,773 | +€263 | +5.8% |
| Other amounts payable | 47/48 | €16,000 | - | -€16,000 | |
| Accrued charges and deferred income | 492/3 | - | €2,400 | +€2,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,281 | €9,544 | +€3,263 | +51.9% |
| Other operating charges | 640/8 | €187 | €132 | -€56 | -29.7% |
| Non-recurring operating charges | 66A | €89,789 | - | -€89,789 | |
| Gross operating margin | 9900 | €65,481 | €26,952 | -€38,529 | -58.8% |
| Operating profit (loss) | 9901 | -€30,777 | €17,276 | +€48,053 | |
| Financial income | 75/76B | €1,015,183 | €2 | -€1.0m | -100.0% |
| Recurring financial income | 75 | €199,904 | €2 | -€199,902 | -100.0% |
| Non-recurring financial income | 76B | €815,279 | - | -€815,279 | |
| Financial charges | 65/66B | €73,182 | €3,498 | -€69,685 | -95.2% |
| Recurring financial charges | 65 | €73,182 | €3,498 | -€69,685 | -95.2% |
| Profit (loss) for the period before taxes | 9903 | €911,224 | €13,780 | -€897,444 | -98.5% |
| Income taxes | 67/77 | €160 | €142 | -€18 | -11.1% |
| Profit (loss) for the period | 9904 | €911,064 | €13,638 | -€897,426 | -98.5% |
| Profit (loss) for the period to be appropriated | 9905 | €911,064 | €13,638 | -€897,426 | -98.5% |
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.