DE RATELINGE: 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.
DE RATELINGE
Largest movements
- Tangible fixed assets +€246,961
up €246,961 (+6.5%), from €3.8m to €4.0m
- Cash -€151,311
down €151,311 (-84.8%), from €178,462 to €27,151
mainly Investment in fixed assets (net) (-€433,535) and Trade debts (-€104,378)
- Other debts +€237,427
up €237,427 (+90.3%), from €262,917 to €500,344
- Trade debts -€104,378
down €104,378 (-51.8%), from €201,428 to €97,050
- Debts after one year -€80,373
down €80,373 (-4.1%), from €2.0m to €1.9m
- Gross operating margin +€89,355
up €89,355 (+40.4%), from €221,012 to €310,367
- Depreciation +€48,626
up €48,626 (+35.2%), from €137,947 to €186,573
- Financial charges +€24,520
up €24,520 (+43.9%), from €55,851 to €80,371
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 | €4,322,622 | €4,416,323 | +€93,700 | +2.2% |
| Fixed assets | 21/28 | €4,131,849 | €4,378,811 | +€246,961 | +6.0% |
| Tangible fixed assets | 22/27 | €3,771,599 | €4,018,561 | +€246,961 | +6.5% |
| Land and buildings | 22 | €3,771,599 | €4,018,561 | +€246,961 | +6.5% |
| Financial fixed assets | 28 | €360,250 | €360,250 | = | 0.0% |
| Current assets | 29/58 | €190,773 | €37,512 | -€153,261 | -80.3% |
| Amounts receivable within one year | 40/41 | €12,311 | €10,361 | -€1,950 | -15.8% |
| Other amounts receivable | 41 | €12,311 | €10,361 | -€1,950 | -15.8% |
| Cash at bank and in hand | 54/58 | €178,462 | €27,151 | -€151,311 | -84.8% |
| Total equity and liabilities | 10/49 | €4,322,622 | €4,416,323 | +€93,700 | +2.2% |
| Equity | 10/15 | €1,680,157 | €1,696,548 | +€16,391 | +1.0% |
| Contributions | 10/11 | €1,346,000 | €1,346,000 | = | 0.0% |
| Reserves | 13 | €334,157 | €350,548 | +€16,391 | +4.9% |
| Distributable reserves | 133 | €334,157 | €350,548 | +€16,391 | +4.9% |
| Amounts payable | 17/49 | €2,642,466 | €2,719,775 | +€77,309 | +2.9% |
| Amounts payable after more than one year | 17 | €1,970,831 | €1,890,458 | -€80,373 | -4.1% |
| Financial debts | 170/4 | €1,970,831 | €1,890,458 | -€80,373 | -4.1% |
| Amounts payable within one year | 42/48 | €658,411 | €814,892 | +€156,481 | +23.8% |
| Current portion of amounts payable after more than one year | 42 | €194,066 | €217,498 | +€23,432 | +12.1% |
| Trade debts | 44 | €201,428 | €97,050 | -€104,378 | -51.8% |
| Suppliers | 440/4 | €201,428 | €97,050 | -€104,378 | -51.8% |
| Other amounts payable | 47/48 | €262,917 | €500,344 | +€237,427 | +90.3% |
| Accrued charges and deferred income | 492/3 | €13,224 | €14,425 | +€1,201 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,947 | €186,573 | +€48,626 | +35.2% |
| Other operating charges | 640/8 | €28,265 | €25,393 | -€2,872 | -10.2% |
| Gross operating margin | 9900 | €221,012 | €310,367 | +€89,355 | +40.4% |
| Operating profit (loss) | 9901 | €54,799 | €98,401 | +€43,601 | +79.6% |
| Financial income | 75/76B | €1,809 | - | -€1,809 | |
| Recurring financial income | 75 | €1,809 | - | -€1,809 | |
| Financial charges | 65/66B | €55,851 | €80,371 | +€24,520 | +43.9% |
| Recurring financial charges | 65 | €55,851 | €80,371 | +€24,520 | +43.9% |
| Profit (loss) for the period before taxes | 9903 | €758 | €18,030 | +€17,273 | +2279.8% |
| Income taxes | 67/77 | €189 | €1,639 | +€1,450 | +765.4% |
| Profit (loss) for the period | 9904 | €568 | €16,391 | +€15,823 | +2784.7% |
| Profit (loss) for the period to be appropriated | 9905 | €568 | €16,391 | +€15,823 | +2784.7% |
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 4 October 2026 via checked.be.