RSH: 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.
RSH
Largest movements
- Cash +€99,604
up €99,604 (+325.1%), from €30,637 to €130,241
mainly Receivables within one year (+€83,136) and Net result for the year (+€15,277)
- Receivables within one year -€83,136
down €83,136 (-93.4%), from €88,980 to €5,844
of which Trade receivables: -€83,530
- Reserves +€15,277
up €15,277 (+17.0%), from €89,848 to €105,125
- Tax, wage and social debts -€5,678
down €5,678 (-65.4%), from €8,681 to €3,003
- Taxes +€1,454
up €1,454 (+25.0%), from €5,822 to €7,276
- Other operating charges +€400
up €400 (+644.7%), from €62 to €462
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 | €419,362 | €436,409 | +€17,047 | +4.1% |
| Fixed assets | 21/28 | €299,745 | €299,745 | = | 0.0% |
| Financial fixed assets | 28 | €299,745 | €299,745 | = | 0.0% |
| Current assets | 29/58 | €119,617 | €136,664 | +€17,047 | +14.3% |
| Amounts receivable within one year | 40/41 | €88,980 | €5,844 | -€83,136 | -93.4% |
| Trade receivables | 40 | €87,725 | €4,195 | -€83,530 | -95.2% |
| Other amounts receivable | 41 | €1,255 | €1,649 | +€394 | +31.4% |
| Cash at bank and in hand | 54/58 | €30,637 | €130,241 | +€99,604 | +325.1% |
| Deferred charges and accrued income | 490/1 | - | €580 | +€580 | |
| Total equity and liabilities | 10/49 | €419,362 | €436,409 | +€17,047 | +4.1% |
| Equity | 10/15 | €96,048 | €111,325 | +€15,277 | +15.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €89,848 | €105,125 | +€15,277 | +17.0% |
| Distributable reserves | 133 | €89,848 | €105,125 | +€15,277 | +17.0% |
| Amounts payable | 17/49 | €323,314 | €325,085 | +€1,771 | +0.5% |
| Amounts payable within one year | 42/48 | €323,314 | €325,085 | +€1,770 | +0.5% |
| Trade debts | 44 | €3,000 | €6,406 | +€3,406 | +113.5% |
| Suppliers | 440/4 | €3,000 | €6,406 | +€3,406 | +113.5% |
| Taxes, remuneration and social security | 45 | €8,681 | €3,003 | -€5,678 | -65.4% |
| Taxes | 450/3 | €8,681 | €3,003 | -€5,678 | -65.4% |
| Other amounts payable | 47/48 | €311,633 | €315,676 | +€4,042 | +1.3% |
| Accrued charges and deferred income | 492/3 | - | €0 | +€0 | |
| Other operating charges | 640/8 | €62 | €462 | +€400 | +644.7% |
| Gross operating margin | 9900 | €23,662 | €23,720 | +€58 | +0.2% |
| Operating profit (loss) | 9901 | €23,600 | €23,258 | -€341 | -1.4% |
| Financial income | 75/76B | €38 | - | -€38 | |
| Recurring financial income | 75 | €38 | - | -€38 | |
| Financial charges | 65/66B | €730 | €705 | -€25 | -3.4% |
| Recurring financial charges | 65 | €730 | €705 | -€25 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €22,907 | €22,553 | -€354 | -1.5% |
| Income taxes | 67/77 | €5,822 | €7,276 | +€1,454 | +25.0% |
| Profit (loss) for the period | 9904 | €17,085 | €15,277 | -€1,808 | -10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,085 | €15,277 | -€1,808 | -10.6% |
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 4 October 2026 via checked.be.