De Ruyt: 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 Ruyt
Largest movements
- Tangible fixed assets +€369,270
up €369,270 (+50.1%), from €736,571 to €1.1m
of which Land and buildings: +€357,760
- Receivables within one year +€16,500
new in 2025: €16,500
- Cash -€14,873
down €14,873 (-99.9%), from €14,888 to €15
mainly Investment in fixed assets (net) (-€423,070) and Net result for the year (-€78,360)
- Debts after one year +€435,813
up €435,813 (+136.8%), from €318,573 to €754,386
- Profit (loss) carried forward -€78,360
down €78,360 (-105.0%), from -€74,636 to -€152,996
- Current portion of long-term debt +€40,235
up €40,235 (+748.0%), from €5,379 to €45,614
- Trade debts -€38,357
down €38,357 (-79.8%), from €48,077 to €9,720
- Other debts +€13,395
up €13,395 (+49.0%), from €27,337 to €40,732
- Depreciation +€36,215
up €36,215 (+205.9%), from €17,585 to €53,800
- Gross operating margin +€21,040
up €21,040, from -€18,731 to €2,310
- Financial charges +€15,707
up €15,707 (+315.0%), from €4,986 to €20,693
- Financial income +€6,050
new in 2025: €6,050
- Other operating charges -€1,125
down €1,125 (-89.9%), from €1,251 to €126
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 | €753,080 | €1,123,050 | +€369,970 | +49.1% |
| Fixed assets | 21/28 | €736,571 | €1,105,841 | +€369,270 | +50.1% |
| Tangible fixed assets | 22/27 | €736,571 | €1,105,841 | +€369,270 | +50.1% |
| Land and buildings | 22 | €732,763 | €1,090,523 | +€357,760 | +48.8% |
| Plant, machinery and equipment | 23 | €3,808 | €15,319 | +€11,510 | +302.3% |
| Current assets | 29/58 | €16,509 | €17,209 | +€700 | +4.2% |
| Amounts receivable within one year | 40/41 | - | €16,500 | +€16,500 | |
| Other amounts receivable | 41 | - | €16,500 | +€16,500 | |
| Cash at bank and in hand | 54/58 | €14,888 | €15 | -€14,873 | -99.9% |
| Deferred charges and accrued income | 490/1 | €1,621 | €694 | -€927 | -57.2% |
| Total equity and liabilities | 10/49 | €753,080 | €1,123,050 | +€369,970 | +49.1% |
| Equity | 10/15 | €348,864 | €270,504 | -€78,360 | -22.5% |
| Contributions | 10/11 | €423,500 | €423,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€74,636 | -€152,996 | -€78,360 | -105.0% |
| Amounts payable | 17/49 | €404,216 | €852,546 | +€448,329 | +110.9% |
| Amounts payable after more than one year | 17 | €318,573 | €754,386 | +€435,813 | +136.8% |
| Financial debts | 170/4 | €318,573 | €754,386 | +€435,813 | +136.8% |
| Amounts payable within one year | 42/48 | €80,793 | €96,066 | +€15,272 | +18.9% |
| Current portion of amounts payable after more than one year | 42 | €5,379 | €45,614 | +€40,235 | +748.0% |
| Trade debts | 44 | €48,077 | €9,720 | -€38,357 | -79.8% |
| Suppliers | 440/4 | €48,077 | €9,720 | -€38,357 | -79.8% |
| Other amounts payable | 47/48 | €27,337 | €40,732 | +€13,395 | +49.0% |
| Accrued charges and deferred income | 492/3 | €4,849 | €2,094 | -€2,755 | -56.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,585 | €53,800 | +€36,215 | +205.9% |
| Other operating charges | 640/8 | €1,251 | €126 | -€1,125 | -89.9% |
| Non-recurring operating charges | 66A | - | €12,100 | +€12,100 | |
| Gross operating margin | 9900 | -€18,731 | €2,310 | +€21,040 | |
| Operating profit (loss) | 9901 | -€37,566 | -€63,717 | -€26,150 | -69.6% |
| Financial income | 75/76B | - | €6,050 | +€6,050 | |
| Recurring financial income | 75 | - | €6,050 | +€6,050 | |
| Financial charges | 65/66B | €4,986 | €20,693 | +€15,707 | +315.0% |
| Recurring financial charges | 65 | €4,986 | €20,693 | +€15,707 | +315.0% |
| Profit (loss) for the period before taxes | 9903 | -€42,552 | -€78,360 | -€35,808 | -84.2% |
| Profit (loss) for the period | 9904 | -€42,552 | -€78,360 | -€35,808 | -84.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,552 | -€78,360 | -€35,808 | -84.2% |
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 8 October 2026 via checked.be.