DAVID RYCKAERT: 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.
DAVID RYCKAERT
Largest movements
- Tangible fixed assets -€51,356
down €51,356 (-3.5%), from €1.5m to €1.4m
of which Land and buildings: -€50,335
- Cash +€35,883
up €35,883 (+150.1%), from €23,907 to €59,790
mainly Other debts (+€203,548) and Net result for the year (+€197,996)
- Receivables within one year +€31,482
up €31,482 (+8.2%), from €384,691 to €416,173
of which Other amounts receivable: +€25,854
- Deferred charges and accrued income +€30,714
up €30,714 (+3820.4%), from €804 to €31,518
- Other debts +€203,548
up €203,548 (+880.0%), from €23,130 to €226,678
- Reserves -€110,748
down €110,748 (-18.1%), from €610,368 to €499,620
of which Distributable reserves: -€110,748
- Debts after one year -€64,500
down €64,500 (-5.5%), from €1.2m to €1.1m
of which Financial debts: -€64,500
- Tax, wage and social debts +€31,628
up €31,628 (+104.8%), from €30,191 to €61,819
of which Taxes: +€31,188
- Trade debts -€27,519
down €27,519 (-57.3%), from €48,057 to €20,538
- Gross operating margin +€87,882
up €87,882 (+29.0%), from €302,588 to €390,469
- Taxes +€26,876
up €26,876 (+44.0%), from €61,149 to €88,025
- Staff costs +€8,783
up €8,783 (+61.0%), from €14,402 to €23,185
- Financial charges -€7,408
down €7,408 (-18.8%), from €39,399 to €31,991
- Depreciation +€4,877
up €4,877 (+11.6%), from €41,933 to €46,811
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 | €2,024,607 | €2,072,482 | +€47,875 | +2.4% |
| Fixed assets | 21/28 | €1,475,205 | €1,425,001 | -€50,204 | -3.4% |
| Intangible fixed assets | 21 | - | €1,152 | +€1,152 | |
| Tangible fixed assets | 22/27 | €1,474,841 | €1,423,485 | -€51,356 | -3.5% |
| Land and buildings | 22 | €1,463,318 | €1,412,984 | -€50,335 | -3.4% |
| Plant, machinery and equipment | 23 | €0 | €505 | +€505 | |
| Furniture and vehicles | 24 | €11,522 | €9,996 | -€1,526 | -13.2% |
| Financial fixed assets | 28 | €364 | €364 | = | 0.0% |
| Current assets | 29/58 | €549,402 | €647,482 | +€98,079 | +17.9% |
| Amounts receivable after more than one year | 29 | €140,000 | €140,000 | = | 0.0% |
| Other amounts receivable | 291 | €140,000 | €140,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €384,691 | €416,173 | +€31,482 | +8.2% |
| Trade receivables | 40 | €179,258 | €184,886 | +€5,628 | +3.1% |
| Other amounts receivable | 41 | €205,433 | €231,287 | +€25,854 | +12.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €23,907 | €59,790 | +€35,883 | +150.1% |
| Deferred charges and accrued income | 490/1 | €804 | €31,518 | +€30,714 | +3820.4% |
| Total equity and liabilities | 10/49 | €2,024,607 | €2,072,482 | +€47,875 | +2.4% |
| Equity | 10/15 | €630,161 | €519,455 | -€110,706 | -17.6% |
| Contributions | 10/11 | €18,741 | €18,741 | = | 0.0% |
| Reserves | 13 | €610,368 | €499,620 | -€110,748 | -18.1% |
| Non-distributable reserves | 130/1 | €21,168 | €21,168 | = | 0.0% |
| Reserves not available under the articles | 1311 | €21,168 | €21,168 | = | 0.0% |
| Distributable reserves | 133 | €589,200 | €478,453 | -€110,748 | -18.8% |
| Profit (loss) carried forward | 14 | €1,052 | €1,094 | +€42 | +4.0% |
| Provisions and deferred taxes | 16 | €65,000 | €55,000 | -€10,000 | -15.4% |
| Provisions for liabilities and charges | 160/5 | €65,000 | €55,000 | -€10,000 | -15.4% |
| Other liabilities and charges | 164/5 | €65,000 | €55,000 | -€10,000 | -15.4% |
| Amounts payable | 17/49 | €1,329,446 | €1,498,028 | +€168,581 | +12.7% |
| Amounts payable after more than one year | 17 | €1,163,483 | €1,098,983 | -€64,500 | -5.5% |
| Financial debts | 170/4 | €1,156,058 | €1,091,558 | -€64,500 | -5.6% |
| Other amounts payable | 178/9 | €7,425 | €7,425 | = | 0.0% |
| Amounts payable within one year | 42/48 | €165,963 | €399,044 | +€233,081 | +140.4% |
| Current portion of amounts payable after more than one year | 42 | €63,055 | €89,507 | +€26,451 | +41.9% |
| Financial debts | 43 | €1,529 | €503 | -€1,026 | -67.1% |
| Credit institutions | 430/8 | €1,529 | €503 | -€1,026 | -67.1% |
| Trade debts | 44 | €48,057 | €20,538 | -€27,519 | -57.3% |
| Suppliers | 440/4 | €48,057 | €20,538 | -€27,519 | -57.3% |
| Taxes, remuneration and social security | 45 | €30,191 | €61,819 | +€31,628 | +104.8% |
| Taxes | 450/3 | €29,067 | €60,255 | +€31,188 | +107.3% |
| Remuneration and social security | 454/9 | €1,124 | €1,563 | +€439 | +39.1% |
| Other amounts payable | 47/48 | €23,130 | €226,678 | +€203,548 | +880.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €1,318 | €0 | -€1,318 | -100.0% |
| Remuneration, social security and pensions | 62 | €14,402 | €23,185 | +€8,783 | +61.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,933 | €46,811 | +€4,877 | +11.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €8,807 | €7,865 | -€942 | -10.7% |
| Non-recurring operating charges | 66A | €840 | €2,918 | +€2,078 | +247.4% |
| Gross operating margin | 9900 | €302,588 | €390,469 | +€87,882 | +29.0% |
| Operating profit (loss) | 9901 | €236,606 | €309,691 | +€73,086 | +30.9% |
| Financial income | 75/76B | €4,295 | €8,321 | +€4,026 | +93.7% |
| Recurring financial income | 75 | €4,295 | €8,321 | +€4,026 | +93.7% |
| Financial charges | 65/66B | €39,399 | €31,991 | -€7,408 | -18.8% |
| Recurring financial charges | 65 | €39,399 | €31,991 | -€7,408 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €201,502 | €286,022 | +€84,520 | +41.9% |
| Income taxes | 67/77 | €61,149 | €88,025 | +€26,876 | +44.0% |
| Profit (loss) for the period | 9904 | €140,353 | €197,996 | +€57,644 | +41.1% |
| Profit (loss) for the period to be appropriated | 9905 | €140,353 | €197,996 | +€57,644 | +41.1% |
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 5 October 2026 via checked.be.