DE RUYSSCHER - BAEYENS: what changed
What changed
DE RUYSSCHER - BAEYENS
NACE 64.910, Financial service activities, except insurance and pension funding
filed annual accounts (NBB)
Net result for the year
€165,526
2024 · €157,820+€7,706
Equity
€1.0m
2024 · €893,949+€114,585
Cash
€334,668
2024 · €582,208-€247,540
Balance sheet total
€1.2m
2024 · €1.0m+€220,155
Largest movements
Assets
- Current investments +€452,242
up €452,242 (+234%), from €192,935 to €645,177
- Cash -€247,540
down €247,540 (-42.5%), from €582,208 to €334,668
mainly Current investments (-€452,242) and Contributions, distributions and other (-€50,940)
- Receivables within one year +€36,794
up €36,794 (+559%), from €6,587 to €43,381
of which Trade receivables: +€36,706
- Tangible fixed assets -€21,335
down €21,335 (-9.4%), from €227,040 to €205,705
of which Furniture and vehicles: -€16,900
Equity and liabilities
- Reserves +€114,585
up €114,585 (+14.0%), from €817,328 to €931,913
of which Distributable reserves: +€115,335
- Accrued charges and deferred income +€57,014
up €57,014 (+180%), from €31,651 to €88,665
- Current portion of long-term debt +€26,443
new in 2025: €26,443
- Tax, wage and social debts +€13,057
up €13,057 (+18.4%), from €70,970 to €84,027
of which Taxes: +€6,587
Income statement
- Gross operating margin +€59,476
up €59,476 (+15.9%), from €373,038 to €432,514
- Staff costs +€32,985
up €32,985 (+27.6%), from €119,683 to €152,668
- Provisions +€19,743
up €19,743, from -€13,965 to €5,778
- Taxes -€9,746
down €9,746 (-10.9%), from €89,112 to €79,366
- Financial charges +€4,562
up €4,562 (+1,655%), from €276 to €4,838
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€157,820
Gross operating margin
+€59,476
Staff costs
-€32,985
Depreciation
-€1,196
Provisions
-€19,743
Other operating charges
+€763
Financial income
-€4,044
Financial charges
-€4,562
Taxes
+€9,746
Deferred taxes and other
+€250
Result 2025
€165,526
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€228,271
Investment
-€461,313
Financing
-€14,497
Cash 2024
€582,208
From operations (derived)
+€228,271
Net result for the year
+€165,526
Depreciation
+€30,406
Receivables within one year
-€36,794
Smaller working-capital items
-€939
Tax, wage and social debts
+€13,057
Accrued charges and deferred income
+€57,014
Investment (derived)
-€461,313
Investment in fixed assets (net)
-€9,071
Current investments
-€452,242
Financing
-€14,497
Debts after one year
+€10,000
Current portion of long-term debt
+€26,443
Contributions, distributions and other
-€50,940
Cash 2025
€334,668
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,008,776 | €1,228,931 | +€220,155 | +21.8% |
| Fixed assets | 21/28 | €227,040 | €205,705 | -€21,335 | -9.4% |
| Tangible fixed assets | 22/27 | €227,040 | €205,705 | -€21,335 | -9.4% |
| Land and buildings | 22 | €160,748 | €158,995 | -€1,753 | -1.1% |
| Plant, machinery and equipment | 23 | €14,018 | €11,335 | -€2,683 | -19.1% |
| Furniture and vehicles | 24 | €52,275 | €35,375 | -€16,900 | -32.3% |
| Current assets | 29/58 | €781,736 | €1,023,226 | +€241,490 | +30.9% |
| Amounts receivable within one year | 40/41 | €6,587 | €43,381 | +€36,794 | +559% |
| Trade receivables | 40 | €6,207 | €42,913 | +€36,706 | +591% |
| Other amounts receivable | 41 | €380 | €468 | +€88 | +23.2% |
| Current investments | 50/53 | €192,935 | €645,177 | +€452,242 | +234% |
| Cash at bank and in hand | 54/58 | €582,208 | €334,668 | -€247,540 | -42.5% |
| Deferred charges and accrued income | 490/1 | €7 | - | -€7 | |
| Total equity and liabilities | 10/49 | €1,008,776 | €1,228,931 | +€220,155 | +21.8% |
| Equity | 10/15 | €893,949 | €1,008,535 | +€114,585 | +12.8% |
| Contributions | 10/11 | €76,621 | €76,621 | = | 0.0% |
| Reserves | 13 | €817,328 | €931,913 | +€114,585 | +14.0% |
| Non-distributable reserves | 130/1 | €8,057 | €8,057 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,057 | €8,057 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,750 | €6,000 | -€750 | -11.1% |
| Distributable reserves | 133 | €802,521 | €917,857 | +€115,335 | +14.4% |
| Provisions and deferred taxes | 16 | €2,250 | €2,000 | -€250 | -11.1% |
| Provisions for liabilities and charges | 160/5 | €2,250 | €2,000 | -€250 | -11.1% |
| Taxes | 161 | €2,250 | €2,000 | -€250 | -11.1% |
| Amounts payable | 17/49 | €112,577 | €218,396 | +€105,819 | +94.0% |
| Amounts payable after more than one year | 17 | - | €10,000 | +€10,000 | |
| Other amounts payable | 178/9 | - | €10,000 | +€10,000 | |
| Amounts payable within one year | 42/48 | €80,926 | €119,731 | +€38,805 | +48.0% |
| Current portion of amounts payable after more than one year | 42 | - | €26,443 | +€26,443 | |
| Trade debts | 44 | €9,956 | €8,900 | -€1,056 | -10.6% |
| Suppliers | 440/4 | €9,956 | €8,900 | -€1,056 | -10.6% |
| Taxes, remuneration and social security | 45 | €70,970 | €84,027 | +€13,057 | +18.4% |
| Taxes | 450/3 | €51,710 | €58,297 | +€6,587 | +12.7% |
| Remuneration and social security | 454/9 | €19,261 | €25,730 | +€6,470 | +33.6% |
| Other amounts payable | 47/48 | - | €361 | +€361 | |
| Accrued charges and deferred income | 492/3 | €31,651 | €88,665 | +€57,014 | +180% |
| Remuneration, social security and pensions | 62 | €119,683 | €152,668 | +€32,985 | +27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,210 | €30,406 | +€1,196 | +4.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€13,965 | €5,778 | +€19,743 | |
| Other operating charges | 640/8 | €6,160 | €5,396 | -€763 | -12.4% |
| Gross operating margin | 9900 | €373,038 | €432,514 | +€59,476 | +15.9% |
| Operating profit (loss) | 9901 | €231,950 | €238,265 | +€6,316 | +2.7% |
| Financial income | 75/76B | €15,258 | €11,214 | -€4,044 | -26.5% |
| Recurring financial income | 75 | €15,258 | €11,214 | -€4,044 | -26.5% |
| Financial charges | 65/66B | €276 | €4,838 | +€4,562 | +1,655% |
| Recurring financial charges | 65 | €276 | €4,838 | +€4,562 | +1,655% |
| Profit (loss) for the period before taxes | 9903 | €246,932 | €244,641 | -€2,290 | -0.9% |
| Transfer from deferred taxes | 780 | - | €250 | +€250 | |
| Income taxes | 67/77 | €89,112 | €79,366 | -€9,746 | -10.9% |
| Profit (loss) for the period | 9904 | €157,820 | €165,526 | +€7,706 | +4.9% |
| Transfer from tax-exempt reserves | 789 | - | €750 | +€750 | |
| Profit (loss) for the period to be appropriated | 9905 | €157,820 | €166,276 | +€8,456 | +5.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.