ETS E. RONVEAUX: 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.
What changed
ETS E. RONVEAUX
NACE 23.610, Manufacture of other non-metallic mineral products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€548,741
2024 · €2.8m-€2.2m
Equity
€8.4m
2024 · €7.9m+€507,014
Cash
€2.8m
2024 · €1.5m+€1.3m
Balance sheet total
€45.8m
2024 · €47.8m-€2.1m
Largest movements
Assets
- Receivables within one year -€3.9m
down €3.9m (-12.7%), from €31.1m to €27.1m
of which Trade receivables: -€3.5m
- Cash +€1.3m
up €1.3m (+83.3%), from €1.5m to €2.8m
mainly Receivables within one year (+€3.9m) and Short-term financial debts (+€1.7m)
- Deferred charges and accrued income -€1.2m
down €1.2m (-85.2%), from €1.5m to €216,383
- Stocks and contracts +€873,226
up €873,226 (+11.2%), from €7.8m to €8.7m
of which Stocks: +€645,924
- Tangible fixed assets +€867,191
up €867,191 (+17.5%), from €5.0m to €5.8m
Equity and liabilities
- Trade debts -€3.5m
down €3.5m (-21.2%), from €16.3m to €12.9m
- Other debts -€2.6m
down €2.6m (-96.0%), from €2.7m to €106,727
- Short-term financial debts +€1.7m
up €1.7m (+13.8%), from €12.0m to €13.6m
- Debts after one year +€1.2m
up €1.2m (+41.7%), from €2.8m to €4.0m
of which Financial debts: +€1.2m
- Tax, wage and social debts +€879,704
up €879,704 (+23.2%), from €3.8m to €4.7m
of which Remuneration and social security: +€554,842
Income statement
- Services and other goods +€5.3m
up €5.3m (+21.1%), from €25.4m to €30.7m
- Turnover +€4.8m
up €4.8m (+6.8%), from €71.6m to €76.5m
- Staff costs +€3.2m
up €3.2m (+13.2%), from €24.3m to €27.5m
- Write-downs -€1.5m
down €1.5m, from €153,397 to -€1.3m
- Taxes -€776,624
down €776,624 (-73.1%), from €1.1m to €285,799
of which Taxes: -€736,610
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.
Result 2024
€2.8m
Turnover
+€4.8m
Other operating income
+€111,288
Goods and materials
+€484,003
Services and other goods
-€5.3m
Staff costs
-€3.2m
Depreciation
-€328,314
Write-downs
+€1.5m
Provisions
+€167,888
Other operating charges
-€294,572
Other operating items
-€880,569
Financial income
-€23,524
Financial charges
+€5,637
Taxes
+€776,624
Result 2025
€548,741
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.
From operations
+€797,052
Investment
-€2.3m
Financing
+€2.8m
Cash 2024
€1.5m
From operations (derived)
+€797,052
Net result for the year
+€548,741
Depreciation
+€1.4m
Stocks and contracts
-€873,226
Receivables within one year
+€3.9m
Deferred charges and accrued income
+€1.2m
Provisions
-€317,888
Trade debts
-€3.5m
Tax, wage and social debts
+€879,704
Advances received
+€27,203
Other debts
-€2.6m
Accrued charges and deferred income
+€1,486
Investment (derived)
-€2.3m
Investment in fixed assets (net)
-€2.3m
Financing
+€2.8m
Debts after one year
+€1.2m
Current portion of long-term debt
+€6,304
Short-term financial debts
+€1.7m
Contributions, distributions and other
-€41,727
Cash 2025
€2.8m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €47,832,813 | €45,762,836 | -€2.1m | -4.3% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €5,967,638 | €6,933,486 | +€965,848 | +16.2% |
| Intangible fixed assets | 21 | €68,471 | €110,907 | +€42,436 | +62.0% |
| Tangible fixed assets | 22/27 | €4,957,547 | €5,824,739 | +€867,191 | +17.5% |
| Land and buildings | 22 | €2,398,882 | €2,736,704 | +€337,822 | +14.1% |
| Plant, machinery and equipment | 23 | €1,790,032 | €1,927,627 | +€137,595 | +7.7% |
| Furniture and vehicles | 24 | €724,822 | €1,116,596 | +€391,774 | +54.1% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €43,811 | €43,811 | = | 0.0% |
| Assets under construction and advance payments | 27 | - | €0 | = | |
| Financial fixed assets | 28 | €941,620 | €997,841 | +€56,221 | +6.0% |
| Affiliated companies | 280/1 | €1 | €1 | = | 0.0% |
| Participating interests | 280 | €1 | €1 | = | 0.0% |
| Amounts receivable | 281 | - | €0 | = | |
| Companies linked by participating interests | 282/3 | - | €0 | = | |
| Participating interests | 282 | - | €0 | = | |
| Amounts receivable | 283 | - | €0 | = | |
| Other financial fixed assets | 284/8 | €941,619 | €997,840 | +€56,221 | +6.0% |
| Shares | 284 | €140,286 | €143,211 | +€2,925 | +2.1% |
| Amounts receivable and cash guarantees | 285/8 | €801,333 | €854,629 | +€53,296 | +6.7% |
| Current assets | 29/58 | €41,865,175 | €38,829,351 | -€3.0m | -7.3% |
| Amounts receivable after more than one year | 29 | - | €0 | = | |
| Trade receivables | 290 | - | €0 | = | |
| Other amounts receivable | 291 | - | €0 | = | |
| Stocks and contracts in progress | 3 | €7,792,453 | €8,665,680 | +€873,226 | +11.2% |
| Stocks | 30/36 | €7,560,049 | €8,205,974 | +€645,924 | +8.5% |
| Raw materials and consumables | 30/31 | €4,055,817 | €3,921,449 | -€134,368 | -3.3% |
| Work in progress | 32 | €21,915 | €191,782 | +€169,867 | +775.1% |
| Finished goods | 33 | €3,482,317 | €4,092,742 | +€610,425 | +17.5% |
| Goods purchased for resale | 34 | - | €0 | = | |
| Contracts in progress | 37 | €232,404 | €459,706 | +€227,302 | +97.8% |
| Amounts receivable within one year | 40/41 | €31,074,072 | €27,137,933 | -€3.9m | -12.7% |
| Trade receivables | 40 | €29,615,477 | €26,137,898 | -€3.5m | -11.7% |
| Other amounts receivable | 41 | €1,458,595 | €1,000,035 | -€458,560 | -31.4% |
| Current investments | 50/53 | - | €0 | = | |
| Own shares | 50 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €1,532,593 | €2,809,354 | +€1.3m | +83.3% |
| Deferred charges and accrued income | 490/1 | €1,466,056 | €216,383 | -€1.2m | -85.2% |
| Total equity and liabilities | 10/49 | €47,832,813 | €45,762,836 | -€2.1m | -4.3% |
| Equity | 10/15 | €7,905,293 | €8,412,308 | +€507,014 | +6.4% |
| Contributions | 10/11 | €2,500,000 | €2,500,000 | = | 0.0% |
| Capital | 10 | €2,500,000 | €2,500,000 | = | 0.0% |
| Issued capital | 100 | €2,500,000 | €2,500,000 | = | 0.0% |
| Uncalled capital | 101 | - | €0 | = | |
| Outside capital | 11 | - | €0 | = | |
| Share premium | 1100/10 | - | €0 | = | |
| Other | 1109/19 | - | €0 | = | |
| Revaluation surpluses | 12 | - | €0 | = | |
| Reserves | 13 | €5,398,390 | €5,898,390 | +€500,000 | +9.3% |
| Non-distributable reserves | 130/1 | €250,000 | €250,000 | = | 0.0% |
| Legal reserve | 130 | €250,000 | €250,000 | = | 0.0% |
| Distributable reserves | 133 | €5,148,390 | €5,648,390 | +€500,000 | +9.7% |
| Profit (loss) carried forward | 14 | €6,903 | €13,918 | +€7,014 | +101.6% |
| Investment grants | 15 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €387,888 | €70,000 | -€317,888 | -82.0% |
| Provisions for liabilities and charges | 160/5 | €387,888 | €70,000 | -€317,888 | -82.0% |
| Environmental obligations | 163 | - | €0 | = | |
| Other liabilities and charges | 164/5 | €387,888 | €70,000 | -€317,888 | -82.0% |
| Amounts payable | 17/49 | €39,539,632 | €37,280,529 | -€2.3m | -5.7% |
| Amounts payable after more than one year | 17 | €2,830,567 | €4,011,831 | +€1.2m | +41.7% |
| Financial debts | 170/4 | €2,827,131 | €4,010,731 | +€1.2m | +41.9% |
| Leasing and similar obligations | 172 | €0 | - | = | |
| Credit institutions | 173 | €2,827,131 | €4,010,731 | +€1.2m | +41.9% |
| Other amounts payable | 178/9 | €3,436 | €1,100 | -€2,336 | -68.0% |
| Amounts payable within one year | 42/48 | €36,709,065 | €33,267,212 | -€3.4m | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €608,433 | €614,738 | +€6,304 | +1.0% |
| Financial debts | 43 | €11,966,494 | €13,619,827 | +€1.7m | +13.8% |
| Credit institutions | 430/8 | €11,966,494 | €13,619,827 | +€1.7m | +13.8% |
| Trade debts | 44 | €16,324,861 | €12,867,036 | -€3.5m | -21.2% |
| Suppliers | 440/4 | €16,324,861 | €12,867,036 | -€3.5m | -21.2% |
| Advances received on contracts in progress | 46 | €1,358,232 | €1,385,434 | +€27,203 | +2.0% |
| Taxes, remuneration and social security | 45 | €3,793,745 | €4,673,450 | +€879,704 | +23.2% |
| Taxes | 450/3 | €436,198 | €761,060 | +€324,862 | +74.5% |
| Remuneration and social security | 454/9 | €3,357,548 | €3,912,390 | +€554,842 | +16.5% |
| Other amounts payable | 47/48 | €2,657,299 | €106,727 | -€2.6m | -96.0% |
| Accrued charges and deferred income | 492/3 | €0 | €1,486 | +€1,486 | |
| Operating income | 70/76A | €75,075,419 | €79,154,161 | +€4.1m | +5.4% |
| Turnover | 70 | €71,627,962 | €76,469,645 | +€4.8m | +6.8% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,567,151 | €1,007,594 | -€559,557 | -35.7% |
| Own construction capitalised | 72 | €1,391,024 | €561,022 | -€830,002 | -59.7% |
| Other operating income | 74 | €489,281 | €600,570 | +€111,288 | +22.7% |
| Non-recurring operating income | 76A | - | €515,330 | +€515,330 | |
| Operating charges | 60/66A | €70,693,322 | €77,765,622 | +€7.1m | +10.0% |
| Goods for resale, raw materials and consumables | 60 | €19,704,106 | €19,220,103 | -€484,003 | -2.5% |
| Purchases | 600/8 | €19,705,298 | €19,085,735 | -€619,563 | -3.1% |
| Change in stocks: decrease (increase) | 609 | -€1,192 | €134,368 | +€135,559 | |
| Services and other goods | 61 | €25,356,555 | €30,706,243 | +€5.3m | +21.1% |
| Remuneration, social security and pensions | 62 | €24,292,692 | €27,489,446 | +€3.2m | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,025,303 | €1,353,617 | +€328,314 | +32.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €153,397 | -€1,298,079 | -€1.5m | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€150,000 | -€317,888 | -€167,888 | -111.9% |
| Other operating charges | 640/8 | €311,269 | €605,841 | +€294,572 | +94.6% |
| Non-recurring operating charges | 66A | - | €6,339 | +€6,339 | |
| Operating profit (loss) | 9901 | €4,382,096 | €1,388,539 | -€3.0m | -68.3% |
| Financial income | 75/76B | €289,389 | €265,865 | -€23,524 | -8.1% |
| Recurring financial income | 75 | €289,389 | €265,865 | -€23,524 | -8.1% |
| Income from financial fixed assets | 750 | €231,831 | €222,268 | -€9,563 | -4.1% |
| Income from current assets | 751 | €0 | €563 | +€563 | |
| Other financial income | 752/9 | €57,558 | €43,034 | -€14,524 | -25.2% |
| Financial charges | 65/66B | €825,501 | €819,864 | -€5,637 | -0.7% |
| Recurring financial charges | 65 | €825,501 | €819,864 | -€5,637 | -0.7% |
| Debt charges | 650 | €727,894 | €731,790 | +€3,896 | +0.5% |
| Other financial charges | 652/9 | €97,607 | €88,073 | -€9,534 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €3,845,984 | €834,541 | -€3.0m | -78.3% |
| Income taxes | 67/77 | €1,062,423 | €285,799 | -€776,624 | -73.1% |
| Taxes | 670/3 | €1,083,555 | €346,945 | -€736,610 | -68.0% |
| Tax adjustments and reversals of tax provisions | 77 | €21,132 | €61,146 | +€40,014 | +189.4% |
| Profit (loss) for the period | 9904 | €2,783,561 | €548,741 | -€2.2m | -80.3% |
| Transfer from tax-exempt reserves | 789 | €248,390 | - | -€248,390 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €3,031,951 | €548,741 | -€2.5m | -81.9% |
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.