RVDS: 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.
RVDS
Largest movements
- Tangible fixed assets +€43,037
new in 2025: €43,037
- Cash +€5,491
up €5,491 (+7.0%), from €78,772 to €84,263
mainly Other debts (+€115,793) and Net result for the year (+€52,098)
- Reserves -€122,940
down €122,940 (-100.0%), from €122,940 to €0
- Other debts +€115,793
up €115,793 (+859.2%), from €13,477 to €129,270
- Provisions +€27,341
new in 2025: €27,341
- Debts after one year +€22,397
up €22,397 (+45.0%), from €49,749 to €72,146
- Current portion of long-term debt +€9,085
up €9,085 (+77.0%), from €11,793 to €20,878
- Provisions +€27,341
new in 2025: €27,341
- Gross operating margin +€9,774
up €9,774 (+9.4%), from €104,304 to €114,077
- Depreciation +€3,083
new in 2025: €3,083
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 | €213,406 | €261,208 | +€47,802 | +22.4% |
| Fixed assets | 21/28 | €122,500 | €165,537 | +€43,037 | +35.1% |
| Tangible fixed assets | 22/27 | - | €43,037 | +€43,037 | |
| Leasing and similar rights | 25 | - | €43,037 | +€43,037 | |
| Financial fixed assets | 28 | €122,500 | €122,500 | = | 0.0% |
| Current assets | 29/58 | €90,906 | €95,671 | +€4,765 | +5.2% |
| Amounts receivable within one year | 40/41 | €10,333 | €8,843 | -€1,490 | -14.4% |
| Trade receivables | 40 | €10,333 | €8,843 | -€1,490 | -14.4% |
| Cash at bank and in hand | 54/58 | €78,772 | €84,263 | +€5,491 | +7.0% |
| Deferred charges and accrued income | 490/1 | €1,801 | €2,565 | +€764 | +42.4% |
| Total equity and liabilities | 10/49 | €213,406 | €261,208 | +€47,802 | +22.4% |
| Equity | 10/15 | €125,440 | €2,500 | -€122,940 | -98.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €122,940 | €0 | -€122,940 | -100.0% |
| Distributable reserves | 133 | €122,940 | €0 | -€122,940 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | - | €27,341 | +€27,341 | |
| Provisions for liabilities and charges | 160/5 | - | €27,341 | +€27,341 | |
| Other liabilities and charges | 164/5 | - | €27,341 | +€27,341 | |
| Amounts payable | 17/49 | €87,966 | €231,367 | +€143,401 | +163.0% |
| Amounts payable after more than one year | 17 | €49,749 | €72,146 | +€22,397 | +45.0% |
| Financial debts | 170/4 | €49,749 | €72,146 | +€22,397 | +45.0% |
| Amounts payable within one year | 42/48 | €38,217 | €159,222 | +€121,005 | +316.6% |
| Current portion of amounts payable after more than one year | 42 | €11,793 | €20,878 | +€9,085 | +77.0% |
| Trade debts | 44 | €1,683 | €1,485 | -€198 | -11.8% |
| Suppliers | 440/4 | €1,683 | €1,485 | -€198 | -11.8% |
| Taxes, remuneration and social security | 45 | €11,264 | €7,589 | -€3,675 | -32.6% |
| Taxes | 450/3 | €11,264 | €7,589 | -€3,675 | -32.6% |
| Other amounts payable | 47/48 | €13,477 | €129,270 | +€115,793 | +859.2% |
| Non-recurring operating income | 76A | - | €8,273 | +€8,273 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,083 | +€3,083 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €27,341 | +€27,341 | |
| Other operating charges | 640/8 | €401 | €1,444 | +€1,043 | +260.1% |
| Gross operating margin | 9900 | €104,304 | €114,077 | +€9,774 | +9.4% |
| Operating profit (loss) | 9901 | €103,903 | €82,209 | -€21,694 | -20.9% |
| Financial income | 75/76B | €1 | €0 | -€1 | -92.6% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -92.6% |
| Financial charges | 65/66B | €2,291 | €2,605 | +€314 | +13.7% |
| Recurring financial charges | 65 | €2,291 | €2,605 | +€314 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €101,613 | €79,605 | -€22,008 | -21.7% |
| Income taxes | 67/77 | €26,640 | €27,507 | +€867 | +3.3% |
| Profit (loss) for the period | 9904 | €74,973 | €52,098 | -€22,875 | -30.5% |
| Profit (loss) for the period to be appropriated | 9905 | €74,973 | €52,098 | -€22,875 | -30.5% |
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 5 October 2026 via checked.be.