RVR INVEST & PROJECTS: 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.
RVR INVEST & PROJECTS
Largest movements
- Tangible fixed assets +€349,407
up €349,407 (+20.7%), from €1.7m to €2.0m
of which Land and buildings: +€325,950
- Receivables within one year -€72,500
down €72,500 (-27.4%), from €264,683 to €192,183
of which Other amounts receivable: -€72,500
- Receivables after one year -€60,000
down €60,000 (-100%), from €60,000 to €0
- Reserves -€509,647
down €509,647 (-43.9%), from €1.2m to €651,084
- Debts after one year +€465,307
up €465,307 (+41.0%), from €1.1m to €1.6m
- Other debts +€215,350
up €215,350 (+94.7%), from €227,410 to €442,760
- Tax, wage and social debts +€97,937
up €97,937 (+615%), from €15,920 to €113,857
- Current portion of long-term debt -€41,683
down €41,683 (-30.8%), from €135,133 to €93,449
- Financial income +€38,346
up €38,346 (+24.7%), from €155,047 to €193,393
- Gross operating margin +€19,650
up €19,650 (+12.5%), from €157,294 to €176,945
- Depreciation +€18,343
up €18,343 (+37.3%), from €49,205 to €67,548
- Financial charges +€17,785
up €17,785 (+36.4%), from €48,901 to €66,686
- Taxes -€2,740
down €2,740 (-8.7%), from €31,399 to €28,660
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 | €2,686,679 | €2,925,120 | +€238,440 | +8.9% |
| Fixed assets | 21/28 | €2,345,871 | €2,695,278 | +€349,407 | +14.9% |
| Tangible fixed assets | 22/27 | €1,689,441 | €2,038,848 | +€349,407 | +20.7% |
| Land and buildings | 22 | €1,670,448 | €1,996,398 | +€325,950 | +19.5% |
| Furniture and vehicles | 24 | €7,500 | €31,074 | +€23,574 | +314% |
| Other tangible fixed assets | 26 | €11,493 | €11,376 | -€117 | -1.0% |
| Financial fixed assets | 28 | €656,430 | €656,430 | = | 0.0% |
| Current assets | 29/58 | €340,808 | €229,842 | -€110,966 | -32.6% |
| Amounts receivable after more than one year | 29 | €60,000 | €0 | -€60,000 | -100% |
| Other amounts receivable | 291 | €60,000 | €0 | -€60,000 | -100% |
| Amounts receivable within one year | 40/41 | €264,683 | €192,183 | -€72,500 | -27.4% |
| Trade receivables | 40 | €2,183 | €2,183 | = | 0.0% |
| Other amounts receivable | 41 | €262,500 | €190,000 | -€72,500 | -27.6% |
| Cash at bank and in hand | 54/58 | €9,607 | €31,363 | +€21,755 | +226% |
| Deferred charges and accrued income | 490/1 | €6,518 | €6,297 | -€222 | -3.4% |
| Total equity and liabilities | 10/49 | €2,686,679 | €2,925,120 | +€238,440 | +8.9% |
| Equity | 10/15 | €1,165,731 | €656,084 | -€509,647 | -43.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €1,160,731 | €651,084 | -€509,647 | -43.9% |
| Distributable reserves | 133 | €1,160,731 | €651,084 | -€509,647 | -43.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,520,948 | €2,269,036 | +€748,088 | +49.2% |
| Amounts payable after more than one year | 17 | €1,135,493 | €1,600,800 | +€465,307 | +41.0% |
| Financial debts | 170/4 | €1,135,493 | €1,600,800 | +€465,307 | +41.0% |
| Amounts payable within one year | 42/48 | €384,969 | €665,957 | +€280,988 | +73.0% |
| Current portion of amounts payable after more than one year | 42 | €135,133 | €93,449 | -€41,683 | -30.8% |
| Trade debts | 44 | €6,507 | €15,891 | +€9,384 | +144% |
| Suppliers | 440/4 | €6,507 | €15,891 | +€9,384 | +144% |
| Taxes, remuneration and social security | 45 | €15,920 | €113,857 | +€97,937 | +615% |
| Taxes | 450/3 | €15,920 | €113,857 | +€97,937 | +615% |
| Other amounts payable | 47/48 | €227,410 | €442,760 | +€215,350 | +94.7% |
| Accrued charges and deferred income | 492/3 | €486 | €2,279 | +€1,793 | +369% |
| Non-recurring operating income | 76A | - | €56,686 | +€56,686 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,205 | €67,548 | +€18,343 | +37.3% |
| Other operating charges | 640/8 | €10,069 | €12,092 | +€2,022 | +20.1% |
| Non-recurring operating charges | 66A | €4,933 | €0 | -€4,933 | -100% |
| Gross operating margin | 9900 | €157,294 | €176,945 | +€19,650 | +12.5% |
| Operating profit (loss) | 9901 | €93,087 | €97,305 | +€4,218 | +4.5% |
| Financial income | 75/76B | €155,047 | €193,393 | +€38,346 | +24.7% |
| Recurring financial income | 75 | €155,047 | €193,393 | +€38,346 | +24.7% |
| Financial charges | 65/66B | €48,901 | €66,686 | +€17,785 | +36.4% |
| Recurring financial charges | 65 | €48,901 | €66,686 | +€17,785 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | €199,233 | €224,012 | +€24,779 | +12.4% |
| Income taxes | 67/77 | €31,399 | €28,660 | -€2,740 | -8.7% |
| Profit (loss) for the period | 9904 | €167,834 | €195,353 | +€27,518 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €167,834 | €195,353 | +€27,518 | +16.4% |
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 26 October 2026 via checked.be.