F. Rutté: 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.
F. Rutté
Largest movements
- Cash -€6,662
down €6,662 (-32.4%), from €20,571 to €13,909
mainly Tax, wage and social debts (-€12,349) and Debts after one year (-€5,040)
- Tax, wage and social debts -€12,349
down €12,349 (-65.0%), from €18,989 to €6,640
of which Taxes: -€12,349
- Reserves +€9,420
up €9,420 (+23.6%), from €39,900 to €49,320
- Debts after one year -€5,040
down €5,040 (-18.8%), from €26,880 to €21,840
- Gross operating margin +€2,059
up €2,059 (+16.7%), from €12,355 to €14,415
- Taxes +€555
up €555 (+18.7%), from €2,977 to €3,533
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 | €157,784 | €150,823 | -€6,960 | -4.4% |
| Fixed assets | 21/28 | €87,300 | €87,300 | = | 0.0% |
| Financial fixed assets | 28 | €87,300 | €87,300 | = | 0.0% |
| Current assets | 29/58 | €70,484 | €63,523 | -€6,960 | -9.9% |
| Amounts receivable within one year | 40/41 | €49,913 | €49,614 | -€298 | -0.6% |
| Trade receivables | 40 | €48,900 | €49,005 | +€105 | +0.2% |
| Other amounts receivable | 41 | €1,013 | €609 | -€403 | -39.8% |
| Cash at bank and in hand | 54/58 | €20,571 | €13,909 | -€6,662 | -32.4% |
| Total equity and liabilities | 10/49 | €157,784 | €150,823 | -€6,960 | -4.4% |
| Equity | 10/15 | €69,980 | €79,401 | +€9,420 | +13.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €39,900 | €49,320 | +€9,420 | +23.6% |
| Distributable reserves | 133 | €39,900 | €49,320 | +€9,420 | +23.6% |
| Profit (loss) carried forward | 14 | €25,080 | €25,081 | +€0 | 0.0% |
| Amounts payable | 17/49 | €87,803 | €71,423 | -€16,381 | -18.7% |
| Amounts payable after more than one year | 17 | €26,880 | €21,840 | -€5,040 | -18.8% |
| Other amounts payable | 178/9 | €26,880 | €21,840 | -€5,040 | -18.8% |
| Amounts payable within one year | 42/48 | €60,923 | €49,583 | -€11,341 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €5,040 | €5,040 | = | 0.0% |
| Trade debts | 44 | €2,383 | €2,370 | -€13 | -0.5% |
| Suppliers | 440/4 | €2,383 | €2,370 | -€13 | -0.5% |
| Taxes, remuneration and social security | 45 | €18,989 | €6,640 | -€12,349 | -65.0% |
| Taxes | 450/3 | €16,839 | €4,490 | -€12,349 | -73.3% |
| Remuneration and social security | 454/9 | €2,150 | €2,150 | = | 0.0% |
| Other amounts payable | 47/48 | €34,511 | €35,533 | +€1,022 | +3.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €12,355 | €14,415 | +€2,059 | +16.7% |
| Operating profit (loss) | 9901 | €11,968 | €14,015 | +€2,047 | +17.1% |
| Financial charges | 65/66B | €1,032 | €1,062 | +€30 | +2.9% |
| Recurring financial charges | 65 | €1,032 | €1,062 | +€30 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €10,936 | €12,953 | +€2,017 | +18.4% |
| Income taxes | 67/77 | €2,977 | €3,533 | +€555 | +18.7% |
| Profit (loss) for the period | 9904 | €7,959 | €9,420 | +€1,461 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,959 | €9,420 | +€1,461 | +18.4% |
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.