E.van Ruymbeke Immo: 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.
E.van Ruymbeke Immo
Largest movements
- Tangible fixed assets +€445,594
up €445,594 (+317%), from €140,655 to €586,249
of which Land and buildings: +€457,228
- Cash -€48,699
down €48,699 (-35.4%), from €137,635 to €88,936
mainly Investment in fixed assets (net) (-€486,415) and Net result for the year (-€25,484)
- Debts after one year +€394,642
up €394,642 (+8,579%), from €4,600 to €399,242
of which Financial debts: +€394,642
- Reserves -€25,484
down €25,484 (-9.1%), from €278,957 to €253,473
of which Distributable reserves: -€25,484
- Current portion of long-term debt +€14,198
new in 2025: €14,198
- Depreciation +€25,654
up €25,654 (+116%), from €22,126 to €47,781
- Financial charges +€4,917
up €4,917 (+525%), from €936 to €5,853
- Financial income -€1,540
down €1,540 (-32.8%), from €4,699 to €3,159
- Taxes -€1,431
down €1,431 (-69.6%), from €2,056 to €624
- Gross operating margin +€807
up €807 (+2.4%), from €34,216 to €35,023
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 | €348,877 | €734,007 | +€385,130 | +110% |
| Fixed assets | 21/28 | €171,415 | €610,050 | +€438,635 | +256% |
| Tangible fixed assets | 22/27 | €140,655 | €586,249 | +€445,594 | +317% |
| Land and buildings | 22 | €52,066 | €509,294 | +€457,228 | +878% |
| Furniture and vehicles | 24 | €78,130 | €60,685 | -€17,446 | -22.3% |
| Other tangible fixed assets | 26 | €10,459 | €16,270 | +€5,811 | +55.6% |
| Financial fixed assets | 28 | €30,760 | €23,801 | -€6,959 | -22.6% |
| Current assets | 29/58 | €177,461 | €123,957 | -€53,504 | -30.1% |
| Amounts receivable within one year | 40/41 | €24,379 | €18,479 | -€5,900 | -24.2% |
| Trade receivables | 40 | €567 | €430 | -€137 | -24.1% |
| Other amounts receivable | 41 | €23,812 | €18,049 | -€5,764 | -24.2% |
| Current investments | 50/53 | €8,614 | €8,614 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €137,635 | €88,936 | -€48,699 | -35.4% |
| Deferred charges and accrued income | 490/1 | €6,834 | €7,929 | +€1,094 | +16.0% |
| Total equity and liabilities | 10/49 | €348,877 | €734,007 | +€385,130 | +110% |
| Equity | 10/15 | €340,930 | €315,447 | -€25,484 | -7.5% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €278,957 | €253,473 | -€25,484 | -9.1% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €272,760 | €247,276 | -€25,484 | -9.3% |
| Amounts payable | 17/49 | €7,946 | €418,560 | +€410,614 | +5,167% |
| Amounts payable after more than one year | 17 | €4,600 | €399,242 | +€394,642 | +8,579% |
| Financial debts | 170/4 | - | €394,642 | +€394,642 | |
| Other amounts payable | 178/9 | €4,600 | €4,600 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,253 | €17,403 | +€16,150 | +1,289% |
| Current portion of amounts payable after more than one year | 42 | - | €14,198 | +€14,198 | |
| Financial debts | 43 | €648 | €0 | -€648 | -100% |
| Other loans | 439 | €648 | €0 | -€648 | -100% |
| Trade debts | 44 | €605 | €2,585 | +€1,980 | +327% |
| Suppliers | 440/4 | €605 | €2,585 | +€1,980 | +327% |
| Other amounts payable | 47/48 | - | €620 | +€620 | |
| Accrued charges and deferred income | 492/3 | €2,093 | €1,915 | -€178 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,126 | €47,781 | +€25,654 | +116% |
| Other operating charges | 640/8 | €10,181 | €9,407 | -€774 | -7.6% |
| Gross operating margin | 9900 | €34,216 | €35,023 | +€807 | +2.4% |
| Operating profit (loss) | 9901 | €1,909 | -€22,165 | -€24,073 | |
| Financial income | 75/76B | €4,699 | €3,159 | -€1,540 | -32.8% |
| Recurring financial income | 75 | €4,699 | €3,159 | -€1,540 | -32.8% |
| Financial charges | 65/66B | €936 | €5,853 | +€4,917 | +525% |
| Recurring financial charges | 65 | €936 | €5,853 | +€4,917 | +525% |
| Profit (loss) for the period before taxes | 9903 | €5,672 | -€24,859 | -€30,531 | |
| Income taxes | 67/77 | €2,056 | €624 | -€1,431 | -69.6% |
| Profit (loss) for the period | 9904 | €3,616 | -€25,484 | -€29,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,616 | -€25,484 | -€29,100 |
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 24 October 2026 via checked.be.