Docteur Patrick RUTTEN: 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.
Docteur Patrick RUTTEN
Largest movements
- Tangible fixed assets -€20,849
down €20,849 (-8.8%), from €237,203 to €216,354
of which Furniture and vehicles: -€11,534
- Receivables within one year +€5,560
up €5,560 (+517%), from €1,075 to €6,636
of which Trade receivables: +€3,600
- Contributions +€100,000
up €100,000 (+56.8%), from €176,004 to €276,004
- Other debts -€82,818
down €82,818 (-25.6%), from €323,778 to €240,960
- Profit (loss) carried forward -€55,446
down €55,446 (-17.6%), from -€315,360 to -€370,806
- Trade debts +€18,003
up €18,003 (+132%), from €13,625 to €31,628
- Short-term financial debts +€4,695
up €4,695 (+19.0%), from €24,700 to €29,396
- Gross operating margin -€30,780
down €30,780, from €16,221 to -€14,559
- Depreciation -€10,663
down €10,663 (-31.5%), from €33,861 to €23,198
- Other operating charges +€3,773
up €3,773 (+44.1%), from €8,549 to €12,322
- Financial charges +€1,328
up €1,328 (+36.6%), from €3,629 to €4,957
of which Financial charges: +€1,215
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 | €240,792 | €227,185 | -€13,607 | -5.7% |
| Fixed assets | 21/28 | €237,203 | €216,354 | -€20,849 | -8.8% |
| Tangible fixed assets | 22/27 | €237,203 | €216,354 | -€20,849 | -8.8% |
| Land and buildings | 22 | €202,228 | €193,094 | -€9,135 | -4.5% |
| Plant, machinery and equipment | 23 | €180 | - | -€180 | |
| Furniture and vehicles | 24 | €34,795 | €23,260 | -€11,534 | -33.2% |
| Current assets | 29/58 | €3,590 | €10,831 | +€7,242 | +202% |
| Amounts receivable within one year | 40/41 | €1,075 | €6,636 | +€5,560 | +517% |
| Trade receivables | 40 | - | €3,600 | +€3,600 | |
| Other amounts receivable | 41 | €1,075 | €3,036 | +€1,960 | +182% |
| Cash at bank and in hand | 54/58 | €17 | - | -€17 | |
| Deferred charges and accrued income | 490/1 | €2,497 | €4,196 | +€1,698 | +68.0% |
| Total equity and liabilities | 10/49 | €240,792 | €227,185 | -€13,607 | -5.7% |
| Equity | 10/15 | -€121,755 | -€77,201 | +€44,554 | +36.6% |
| Contributions | 10/11 | €176,004 | €276,004 | +€100,000 | +56.8% |
| Capital | 10 | €176,004 | - | -€176,004 | |
| Issued capital | 100 | €176,004 | - | -€176,004 | |
| Reserves | 13 | €17,600 | €17,600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,600 | - | -€17,600 | |
| Legal reserve | 130 | €17,600 | - | -€17,600 | |
| Distributable reserves | 133 | - | €17,600 | +€17,600 | |
| Profit (loss) carried forward | 14 | -€315,360 | -€370,806 | -€55,446 | -17.6% |
| Amounts payable | 17/49 | €362,547 | €304,386 | -€58,161 | -16.0% |
| Amounts payable within one year | 42/48 | €362,547 | €304,386 | -€58,161 | -16.0% |
| Financial debts | 43 | €24,700 | €29,396 | +€4,695 | +19.0% |
| Credit institutions | 430/8 | €24,700 | €29,396 | +€4,695 | +19.0% |
| Trade debts | 44 | €13,625 | €31,628 | +€18,003 | +132% |
| Suppliers | 440/4 | €13,625 | €31,628 | +€18,003 | +132% |
| Taxes, remuneration and social security | 45 | €444 | €2,402 | +€1,958 | +441% |
| Taxes | 450/3 | €444 | €2,402 | +€1,958 | +441% |
| Other amounts payable | 47/48 | €323,778 | €240,960 | -€82,818 | -25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,861 | €23,198 | -€10,663 | -31.5% |
| Other operating charges | 640/8 | €8,549 | €12,322 | +€3,773 | +44.1% |
| Non-recurring operating charges | 66A | - | -€113 | -€113 | |
| Gross operating margin | 9900 | €16,221 | -€14,559 | -€30,780 | |
| Operating profit (loss) | 9901 | -€26,189 | -€49,965 | -€23,777 | -90.8% |
| Financial income | 75/76B | €0 | €11 | +€11 | +105,200% |
| Recurring financial income | 75 | €0 | €11 | +€11 | +105,200% |
| Financial charges | 65/66B | €3,629 | €4,957 | +€1,328 | +36.6% |
| Recurring financial charges | 65 | €3,629 | €4,844 | +€1,215 | +33.5% |
| Non-recurring financial charges | 66B | - | €113 | +€113 | |
| Profit (loss) for the period before taxes | 9903 | -€29,818 | -€54,912 | -€25,094 | -84.2% |
| Income taxes | 67/77 | €444 | €534 | +€90 | +20.3% |
| Profit (loss) for the period | 9904 | -€30,262 | -€55,446 | -€25,184 | -83.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,262 | -€55,446 | -€25,184 | -83.2% |
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 31 October 2026 via checked.be.