RVO MANAGEMENT: 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.
RVO MANAGEMENT
Largest movements
- Current investments -€497,854
down €497,854 (-59.8%), from €832,577 to €334,722
- Tangible fixed assets +€272,572
up €272,572 (+117%), from €232,326 to €504,898
of which Land and buildings: +€242,725
- Receivables within one year +€209,453
up €209,453 (+68.1%), from €307,684 to €517,137
of which Other amounts receivable: +€243,704
- Receivables after one year -€154,080
down €154,080 (-17.4%), from €884,080 to €730,000
of which Other amounts receivable: -€144,080
- Cash +€25,170
up €25,170 (+1,541%), from €1,634 to €26,804
mainly Current investments (+€497,854) and Other debts (+€214,505)
- Reserves -€235,704
down €235,704 (-11.8%), from €2.0m to €1.8m
- Other debts +€214,505
up €214,505 (+397%), from €53,982 to €268,488
- Tax, wage and social debts -€95,456
down €95,456 (-85.3%), from €111,902 to €16,445
of which Taxes: -€92,466
- Gross operating margin -€1.5m
down €1.5m (-97.3%), from €1.5m to €41,385
- Financial income -€110,871
down €110,871 (-64.7%), from €171,408 to €60,537
- Taxes -€103,465
down €103,465 (-94.8%), from €109,088 to €5,624
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 | €2,264,510 | €2,119,084 | -€145,426 | -6.4% |
| Fixed assets | 21/28 | €232,326 | €504,898 | +€272,572 | +117% |
| Tangible fixed assets | 22/27 | €232,326 | €504,898 | +€272,572 | +117% |
| Land and buildings | 22 | €181,957 | €424,682 | +€242,725 | +133% |
| Plant, machinery and equipment | 23 | €8,945 | €50,656 | +€41,711 | +466% |
| Furniture and vehicles | 24 | €6,482 | €19,719 | +€13,237 | +204% |
| Leasing and similar rights | 25 | €34,943 | €9,842 | -€25,101 | -71.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €2,032,184 | €1,614,186 | -€417,998 | -20.6% |
| Amounts receivable after more than one year | 29 | €884,080 | €730,000 | -€154,080 | -17.4% |
| Trade receivables | 290 | €525,000 | €515,000 | -€10,000 | -1.9% |
| Other amounts receivable | 291 | €359,080 | €215,000 | -€144,080 | -40.1% |
| Amounts receivable within one year | 40/41 | €307,684 | €517,137 | +€209,453 | +68.1% |
| Trade receivables | 40 | €79,518 | €45,267 | -€34,251 | -43.1% |
| Other amounts receivable | 41 | €228,166 | €471,870 | +€243,704 | +107% |
| Current investments | 50/53 | €832,577 | €334,722 | -€497,854 | -59.8% |
| Cash at bank and in hand | 54/58 | €1,634 | €26,804 | +€25,170 | +1,541% |
| Deferred charges and accrued income | 490/1 | €6,211 | €5,523 | -€688 | -11.1% |
| Total equity and liabilities | 10/49 | €2,264,510 | €2,119,084 | -€145,426 | -6.4% |
| Equity | 10/15 | €1,996,251 | €1,760,547 | -€235,704 | -11.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €1,990,051 | €1,754,347 | -€235,704 | -11.8% |
| Distributable reserves | 133 | €1,990,051 | €1,754,347 | -€235,704 | -11.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €268,259 | €358,537 | +€90,278 | +33.7% |
| Amounts payable after more than one year | 17 | €29,579 | €22,663 | -€6,916 | -23.4% |
| Financial debts | 170/4 | €29,579 | €22,663 | -€6,916 | -23.4% |
| Amounts payable within one year | 42/48 | €238,090 | €335,374 | +€97,284 | +40.9% |
| Current portion of amounts payable after more than one year | 42 | €21,634 | €6,916 | -€14,719 | -68.0% |
| Financial debts | 43 | €619 | €415 | -€204 | -33.0% |
| Credit institutions | 430/8 | €619 | €415 | -€204 | -33.0% |
| Trade debts | 44 | €49,952 | €43,110 | -€6,842 | -13.7% |
| Suppliers | 440/4 | €49,952 | €43,110 | -€6,842 | -13.7% |
| Taxes, remuneration and social security | 45 | €111,902 | €16,445 | -€95,456 | -85.3% |
| Taxes | 450/3 | €108,912 | €16,445 | -€92,466 | -84.9% |
| Remuneration and social security | 454/9 | €2,990 | €0 | -€2,990 | -100% |
| Other amounts payable | 47/48 | €53,982 | €268,488 | +€214,505 | +397% |
| Accrued charges and deferred income | 492/3 | €591 | €500 | -€91 | -15.4% |
| Non-recurring operating income | 76A | €1,438,767 | €0 | -€1.4m | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,565 | €56,368 | +€12,802 | +29.4% |
| Other operating charges | 640/8 | €1,412 | €1,694 | +€282 | +20.0% |
| Non-recurring operating charges | 66A | - | €6,453 | +€6,453 | |
| Gross operating margin | 9900 | €1,513,914 | €41,385 | -€1.5m | -97.3% |
| Operating profit (loss) | 9901 | €1,468,937 | -€23,130 | -€1.5m | |
| Financial income | 75/76B | €171,408 | €60,537 | -€110,871 | -64.7% |
| Recurring financial income | 75 | €171,408 | €60,537 | -€110,871 | -64.7% |
| Financial charges | 65/66B | €3,298 | €2,336 | -€962 | -29.2% |
| Recurring financial charges | 65 | €3,298 | €2,336 | -€962 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | €1,637,047 | €35,070 | -€1.6m | -97.9% |
| Income taxes | 67/77 | €109,088 | €5,624 | -€103,465 | -94.8% |
| Profit (loss) for the period | 9904 | €1,527,958 | €29,447 | -€1.5m | -98.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,527,958 | €29,447 | -€1.5m | -98.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.