RVM: 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.
RVM
Largest movements
- Cash -€196,047
down €196,047 (-96.8%), from €202,432 to €6,385
mainly Debts after one year (-€140,000) and Net result for the year (-€53,410)
- Debts after one year -€140,000
down €140,000 (-68.3%), from €205,000 to €65,000
- Profit (loss) carried forward -€53,410
down €53,410 (-37.7%), from -€141,676 to -€195,086
- Gross operating margin +€12,935
up €12,935 (+22.2%), from -€58,358 to -€45,423
- Write-downs +€2,884
no longer reported in 2025 (was -€2,884)
- Other operating charges -€1,732
down €1,732 (-29.4%), from €5,888 to €4,155
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 | €471,389 | €275,561 | -€195,828 | -41.5% |
| Fixed assets | 21/28 | €7,694 | €5,573 | -€2,121 | -27.6% |
| Tangible fixed assets | 22/27 | €5,052 | €2,931 | -€2,121 | -42.0% |
| Furniture and vehicles | 24 | €2,380 | €1,146 | -€1,234 | -51.9% |
| Other tangible fixed assets | 26 | €2,672 | €1,786 | -€886 | -33.2% |
| Financial fixed assets | 28 | €2,642 | €2,642 | = | 0.0% |
| Current assets | 29/58 | €463,695 | €269,988 | -€193,707 | -41.8% |
| Stocks and contracts in progress | 3 | €252,772 | €252,772 | = | 0.0% |
| Stocks | 30/36 | €252,772 | €252,772 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,238 | €10,558 | +€2,321 | +28.2% |
| Other amounts receivable | 41 | €8,238 | €10,558 | +€2,321 | +28.2% |
| Cash at bank and in hand | 54/58 | €202,432 | €6,385 | -€196,047 | -96.8% |
| Deferred charges and accrued income | 490/1 | €253 | €272 | +€19 | +7.6% |
| Total equity and liabilities | 10/49 | €471,389 | €275,561 | -€195,828 | -41.5% |
| Equity | 10/15 | €215,440 | €162,031 | -€53,410 | -24.8% |
| Contributions | 10/11 | €355,000 | €355,000 | = | 0.0% |
| Reserves | 13 | €2,117 | €2,117 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €257 | €257 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€141,676 | -€195,086 | -€53,410 | -37.7% |
| Amounts payable | 17/49 | €255,948 | €113,530 | -€142,418 | -55.6% |
| Amounts payable after more than one year | 17 | €205,000 | €65,000 | -€140,000 | -68.3% |
| Other amounts payable | 178/9 | €205,000 | €65,000 | -€140,000 | -68.3% |
| Amounts payable within one year | 42/48 | €48,948 | €46,530 | -€2,418 | -4.9% |
| Trade debts | 44 | €2,284 | €944 | -€1,340 | -58.7% |
| Suppliers | 440/4 | €2,284 | €944 | -€1,340 | -58.7% |
| Taxes, remuneration and social security | 45 | €277 | €290 | +€13 | +4.8% |
| Taxes | 450/3 | €277 | €290 | +€13 | +4.8% |
| Other amounts payable | 47/48 | €46,388 | €45,296 | -€1,091 | -2.4% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,543 | €2,744 | +€200 | +7.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,884 | - | +€2,884 | |
| Other operating charges | 640/8 | €5,888 | €4,155 | -€1,732 | -29.4% |
| Gross operating margin | 9900 | -€58,358 | -€45,423 | +€12,935 | +22.2% |
| Operating profit (loss) | 9901 | -€63,905 | -€52,322 | +€11,583 | +18.1% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €773 | €803 | +€30 | +3.9% |
| Recurring financial charges | 65 | €773 | €803 | +€30 | +3.9% |
| Profit (loss) for the period before taxes | 9903 | -€64,678 | -€53,119 | +€11,558 | +17.9% |
| Income taxes | 67/77 | €277 | €290 | +€13 | +4.8% |
| Profit (loss) for the period | 9904 | -€64,955 | -€53,410 | +€11,545 | +17.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,955 | -€53,410 | +€11,545 | +17.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.