RVG: what changed
RVG
Largest movements
- Tangible fixed assets -€157,020
down €157,020 (-96.8%), from €162,150 to €5,130
of which Land and buildings: -€156,606
- Cash +€18,099
up €18,099 (+97.1%), from €18,648 to €36,747
mainly Investment in fixed assets (net) (+€155,636) and Net result for the year (+€113,824)
- Receivables within one year -€15,000
down €15,000 (-25.0%), from €60,000 to €45,000
- Debts after one year -€94,863
down €94,863 (-100%), from €94,863 to €0
- Reserves -€65,484
down €65,484 (-64.0%), from €102,246 to €36,762
- Tax, wage and social debts +€23,487
up €23,487 (+127%), from €18,447 to €41,933
- Current portion of long-term debt -€8,130
down €8,130 (-100%), from €8,130 to €0
- Other debts -€7,676
down €7,676 (-45.7%), from €16,792 to €9,116
- Gross operating margin +€10,990
up €10,990 (+7.4%), from €148,079 to €159,069
- Depreciation -€4,014
down €4,014 (-74.4%), from €5,399 to €1,384
- Taxes +€3,756
up €3,756 (+10.1%), from €37,342 to €41,098
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €241,800 | €88,176 | -€153,623 | -63.5% |
| Fixed assets | 21/28 | €162,150 | €5,130 | -€157,020 | -96.8% |
| Tangible fixed assets | 22/27 | €162,150 | €5,130 | -€157,020 | -96.8% |
| Land and buildings | 22 | €159,481 | €2,875 | -€156,606 | -98.2% |
| Plant, machinery and equipment | 23 | €2,669 | €2,255 | -€414 | -15.5% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €79,649 | €83,046 | +€3,397 | +4.3% |
| Amounts receivable within one year | 40/41 | €60,000 | €45,000 | -€15,000 | -25.0% |
| Trade receivables | 40 | €60,000 | €45,000 | -€15,000 | -25.0% |
| Cash at bank and in hand | 54/58 | €18,648 | €36,747 | +€18,099 | +97.1% |
| Deferred charges and accrued income | 490/1 | €1,002 | €1,300 | +€298 | +29.8% |
| Total equity and liabilities | 10/49 | €241,800 | €88,176 | -€153,623 | -63.5% |
| Equity | 10/15 | €102,346 | €36,862 | -€65,484 | -64.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €102,246 | €36,762 | -€65,484 | -64.0% |
| Distributable reserves | 133 | €102,246 | €36,762 | -€65,484 | -64.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €139,453 | €51,314 | -€88,139 | -63.2% |
| Amounts payable after more than one year | 17 | €94,863 | €0 | -€94,863 | -100% |
| Financial debts | 170/4 | €94,863 | €0 | -€94,863 | -100% |
| Amounts payable within one year | 42/48 | €44,591 | €51,314 | +€6,723 | +15.1% |
| Current portion of amounts payable after more than one year | 42 | €8,130 | €0 | -€8,130 | -100% |
| Trade debts | 44 | €1,222 | €265 | -€957 | -78.3% |
| Suppliers | 440/4 | €1,222 | €265 | -€957 | -78.3% |
| Taxes, remuneration and social security | 45 | €18,447 | €41,933 | +€23,487 | +127% |
| Taxes | 450/3 | €18,447 | €41,933 | +€23,487 | +127% |
| Other amounts payable | 47/48 | €16,792 | €9,116 | -€7,676 | -45.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,399 | €1,384 | -€4,014 | -74.4% |
| Other operating charges | 640/8 | €1,696 | €1,698 | +€2 | +0.1% |
| Gross operating margin | 9900 | €148,079 | €159,069 | +€10,990 | +7.4% |
| Operating profit (loss) | 9901 | €140,984 | €155,987 | +€15,002 | +10.6% |
| Financial income | 75/76B | €0 | €516 | +€516 | +5,156,100% |
| Recurring financial income | 75 | €0 | €516 | +€516 | +5,156,100% |
| Financial charges | 65/66B | €1,396 | €1,581 | +€185 | +13.2% |
| Recurring financial charges | 65 | €1,396 | €1,581 | +€185 | +13.2% |
| Profit (loss) for the period before taxes | 9903 | €139,588 | €154,921 | +€15,333 | +11.0% |
| Income taxes | 67/77 | €37,342 | €41,098 | +€3,756 | +10.1% |
| Profit (loss) for the period | 9904 | €102,246 | €113,824 | +€11,577 | +11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €102,246 | €113,824 | +€11,577 | +11.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.