DE RUYTTER: what changed
Two financial 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 RUYTTER
Largest movements
- Receivables within one year +€80,139
up €80,139 (+7.8%), from €1.0m to €1.1m
of which Other amounts receivable: +€57,253
- Stocks and contracts -€47,892
down €47,892 (-6.5%), from €736,956 to €689,063
- Tangible fixed assets -€37,558
down €37,558 (-13.9%), from €269,338 to €231,780
of which Leasing and similar rights: -€58,124
- Cash +€29,153
up €29,153 (+36.6%), from €79,735 to €108,888
mainly Trade debts (+€128,456) and Net result for the year (+€108,455)
- Trade debts +€128,456
up €128,456 (+32.8%), from €391,571 to €520,027
- Reserves +€110,000
up €110,000 (+8.5%), from €1.3m to €1.4m
- Short-term financial debts -€88,220
down €88,220 (-90.9%), from €97,016 to €8,796
of which Other loans: -€60,000
- Debts after one year -€69,362
down €69,362 (-69.9%), from €99,243 to €29,881
- Other debts -€60,000
down €60,000 (-100%), from €60,000 to €0
- Write-downs +€70,374
new in 2025: €70,374
- Gross operating margin -€65,919
down €65,919 (-8.0%), from €821,955 to €756,036
- Staff costs -€31,008
down €31,008 (-7.0%), from €440,626 to €409,619
- Taxes -€12,875
down €12,875 (-23.5%), from €54,792 to €41,918
- Depreciation +€11,293
up €11,293 (+11.9%), from €95,089 to €106,383
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.
Derived cash bridge
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 | €2,148,963 | €2,154,696 | +€5,732 | +0.3% |
| Fixed assets | 21/28 | €271,878 | €234,320 | -€37,558 | -13.8% |
| Tangible fixed assets | 22/27 | €269,338 | €231,780 | -€37,558 | -13.9% |
| Plant, machinery and equipment | 23 | €10,294 | €25,554 | +€15,259 | +148% |
| Furniture and vehicles | 24 | €80,627 | €88,757 | +€8,130 | +10.1% |
| Leasing and similar rights | 25 | €113,966 | €55,842 | -€58,124 | -51.0% |
| Other tangible fixed assets | 26 | €64,451 | €61,628 | -€2,824 | -4.4% |
| Financial fixed assets | 28 | €2,540 | €2,540 | = | 0.0% |
| Current assets | 29/58 | €1,877,085 | €1,920,376 | +€43,291 | +2.3% |
| Stocks and contracts in progress | 3 | €736,956 | €689,063 | -€47,892 | -6.5% |
| Stocks | 30/36 | €736,956 | €689,063 | -€47,892 | -6.5% |
| Amounts receivable within one year | 40/41 | €1,031,478 | €1,111,616 | +€80,139 | +7.8% |
| Trade receivables | 40 | €1,001,822 | €1,024,708 | +€22,886 | +2.3% |
| Other amounts receivable | 41 | €29,655 | €86,908 | +€57,253 | +193% |
| Cash at bank and in hand | 54/58 | €79,735 | €108,888 | +€29,153 | +36.6% |
| Deferred charges and accrued income | 490/1 | €28,917 | €10,808 | -€18,108 | -62.6% |
| Total equity and liabilities | 10/49 | €2,148,963 | €2,154,696 | +€5,732 | +0.3% |
| Equity | 10/15 | €1,358,188 | €1,466,643 | +€108,455 | +8.0% |
| Contributions | 10/11 | €62,009 | €62,009 | = | 0.0% |
| Reserves | 13 | €1,293,700 | €1,403,700 | +€110,000 | +8.5% |
| Distributable reserves | 133 | €1,293,700 | €1,403,700 | +€110,000 | +8.5% |
| Profit (loss) carried forward | 14 | €2,479 | €933 | -€1,545 | -62.3% |
| Amounts payable | 17/49 | €790,775 | €688,053 | -€102,722 | -13.0% |
| Amounts payable after more than one year | 17 | €99,243 | €29,881 | -€69,362 | -69.9% |
| Financial debts | 170/4 | €99,243 | €29,881 | -€69,362 | -69.9% |
| Amounts payable within one year | 42/48 | €685,141 | €658,172 | -€26,969 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €69,260 | €69,362 | +€103 | +0.1% |
| Financial debts | 43 | €97,016 | €8,796 | -€88,220 | -90.9% |
| Credit institutions | 430/8 | €37,016 | €8,796 | -€28,220 | -76.2% |
| Other loans | 439 | €60,000 | €0 | -€60,000 | -100% |
| Trade debts | 44 | €391,571 | €520,027 | +€128,456 | +32.8% |
| Suppliers | 440/4 | €391,571 | €520,027 | +€128,456 | +32.8% |
| Taxes, remuneration and social security | 45 | €67,294 | €59,988 | -€7,307 | -10.9% |
| Taxes | 450/3 | €16,174 | €10,120 | -€6,054 | -37.4% |
| Remuneration and social security | 454/9 | €51,120 | €49,867 | -€1,253 | -2.5% |
| Other amounts payable | 47/48 | €60,000 | €0 | -€60,000 | -100% |
| Accrued charges and deferred income | 492/3 | €6,391 | €0 | -€6,391 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €440,626 | €409,619 | -€31,008 | -7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,089 | €106,383 | +€11,293 | +11.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €70,374 | +€70,374 | |
| Other operating charges | 640/8 | €7,464 | €9,800 | +€2,336 | +31.3% |
| Gross operating margin | 9900 | €821,955 | €756,036 | -€65,919 | -8.0% |
| Operating profit (loss) | 9901 | €278,775 | €159,861 | -€118,914 | -42.7% |
| Financial income | 75/76B | €1,736 | €1,012 | -€724 | -41.7% |
| Recurring financial income | 75 | €1,736 | €1,012 | -€724 | -41.7% |
| Financial charges | 65/66B | €14,605 | €10,500 | -€4,105 | -28.1% |
| Recurring financial charges | 65 | €14,605 | €10,500 | -€4,105 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €265,905 | €150,372 | -€115,533 | -43.4% |
| Income taxes | 67/77 | €54,792 | €41,918 | -€12,875 | -23.5% |
| Profit (loss) for the period | 9904 | €211,113 | €108,455 | -€102,658 | -48.6% |
| Profit (loss) for the period to be appropriated | 9905 | €211,113 | €108,455 | -€102,658 | -48.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.