DE RING: 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 RING
Largest movements
- Receivables within one year +€5,405
up €5,405 (+181.0%), from €2,986 to €8,392
- Tangible fixed assets -€5,182
down €5,182 (-29.5%), from €17,552 to €12,370
of which Furniture and vehicles: -€4,636
- Deferred charges and accrued income +€4,155
up €4,155 (+60.1%), from €6,917 to €11,072
- Stocks and contracts +€3,725
up €3,725 (+21.5%), from €17,337 to €21,062
- Intangible fixed assets -€3,450
down €3,450 (-33.3%), from €10,350 to €6,900
- Profit (loss) carried forward +€23,126
up €23,126 (+44.8%), from -€51,653 to -€28,526
- Other debts -€12,997
down €12,997 (-11.8%), from €110,058 to €97,061
- Tax, wage and social debts -€4,970
down €4,970 (-17.4%), from €28,568 to €23,599
of which Taxes: -€5,156
- Trade debts -€1,796
down €1,796 (-28.1%), from €6,393 to €4,596
- Gross operating margin +€35,825
up €35,825 (+27.8%), from €128,707 to €164,531
- Staff costs +€30,214
up €30,214 (+35.7%), from €84,575 to €114,789
- Other operating charges +€2,690
up €2,690 (+43.7%), from €6,161 to €8,851
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 | €111,959 | €115,322 | +€3,363 | +3.0% |
| Fixed assets | 21/28 | €39,519 | €30,797 | -€8,722 | -22.1% |
| Intangible fixed assets | 21 | €10,350 | €6,900 | -€3,450 | -33.3% |
| Tangible fixed assets | 22/27 | €17,552 | €12,370 | -€5,182 | -29.5% |
| Land and buildings | 22 | €4,051 | €2,025 | -€2,025 | -50.0% |
| Plant, machinery and equipment | 23 | €5,934 | €7,414 | +€1,480 | +24.9% |
| Furniture and vehicles | 24 | €7,568 | €2,931 | -€4,636 | -61.3% |
| Financial fixed assets | 28 | €11,616 | €11,526 | -€90 | -0.8% |
| Current assets | 29/58 | €72,440 | €84,525 | +€12,085 | +16.7% |
| Stocks and contracts in progress | 3 | €17,337 | €21,062 | +€3,725 | +21.5% |
| Stocks | 30/36 | €17,337 | €21,062 | +€3,725 | +21.5% |
| Amounts receivable within one year | 40/41 | €2,986 | €8,392 | +€5,405 | +181.0% |
| Trade receivables | 40 | €2,986 | €8,392 | +€5,405 | +181.0% |
| Cash at bank and in hand | 54/58 | €45,200 | €43,999 | -€1,201 | -2.7% |
| Deferred charges and accrued income | 490/1 | €6,917 | €11,072 | +€4,155 | +60.1% |
| Total equity and liabilities | 10/49 | €111,959 | €115,322 | +€3,363 | +3.0% |
| Equity | 10/15 | -€33,061 | -€9,934 | +€23,126 | +70.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€51,653 | -€28,526 | +€23,126 | +44.8% |
| Amounts payable | 17/49 | €145,019 | €125,256 | -€19,763 | -13.6% |
| Amounts payable within one year | 42/48 | €145,019 | €125,256 | -€19,763 | -13.6% |
| Trade debts | 44 | €6,393 | €4,596 | -€1,796 | -28.1% |
| Suppliers | 440/4 | €6,393 | €4,596 | -€1,796 | -28.1% |
| Taxes, remuneration and social security | 45 | €28,568 | €23,599 | -€4,970 | -17.4% |
| Taxes | 450/3 | €13,923 | €8,766 | -€5,156 | -37.0% |
| Remuneration and social security | 454/9 | €14,646 | €14,833 | +€187 | +1.3% |
| Other amounts payable | 47/48 | €110,058 | €97,061 | -€12,997 | -11.8% |
| Remuneration, social security and pensions | 62 | €84,575 | €114,789 | +€30,214 | +35.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,651 | €14,048 | -€603 | -4.1% |
| Other operating charges | 640/8 | €6,161 | €8,851 | +€2,690 | +43.7% |
| Gross operating margin | 9900 | €128,707 | €164,531 | +€35,825 | +27.8% |
| Operating profit (loss) | 9901 | €23,320 | €26,844 | +€3,524 | +15.1% |
| Financial income | 75/76B | €268 | €10 | -€258 | -96.4% |
| Recurring financial income | 75 | €268 | €10 | -€258 | -96.4% |
| Financial charges | 65/66B | €2,846 | €3,727 | +€882 | +31.0% |
| Recurring financial charges | 65 | €2,846 | €3,727 | +€882 | +31.0% |
| Profit (loss) for the period before taxes | 9903 | €20,742 | €23,126 | +€2,384 | +11.5% |
| Profit (loss) for the period | 9904 | €20,742 | €23,126 | +€2,384 | +11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,742 | €23,126 | +€2,384 | +11.5% |
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 6 October 2026 via checked.be.