HowRuud!: 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.
HowRuud!
Largest movements
- Tangible fixed assets -€17,543
down €17,543 (-15.4%), from €113,923 to €96,379
of which Furniture and vehicles: -€17,315
- Cash -€9,096
down €9,096 (-76.6%), from €11,878 to €2,782
mainly Debts after one year (-€22,596) and Receivables within one year (-€3,904)
- Receivables within one year +€3,904
up €3,904 (+23.7%), from €16,453 to €20,357
- Debts after one year -€22,596
down €22,596 (-27.5%), from €82,139 to €59,543
- Reserves +€3,002
up €3,002 (+14.1%), from €21,341 to €24,342
- Tax, wage and social debts -€2,813
down €2,813 (-17.3%), from €16,266 to €13,454
of which Taxes: -€4,202
- Gross operating margin +€14,609
up €14,609 (+43.9%), from €33,285 to €47,894
- Depreciation +€6,515
up €6,515 (+59.1%), from €11,028 to €17,543
- Staff costs +€3,313
new in 2025: €3,313
- Financial charges +€2,676
up €2,676 (+15.4%), from €17,336 to €20,011
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 | €142,673 | €120,352 | -€22,321 | -15.6% |
| Fixed assets | 21/28 | €113,923 | €96,379 | -€17,543 | -15.4% |
| Tangible fixed assets | 22/27 | €113,923 | €96,379 | -€17,543 | -15.4% |
| Land and buildings | 22 | €40,581 | €40,353 | -€228 | -0.6% |
| Furniture and vehicles | 24 | €73,342 | €56,026 | -€17,315 | -23.6% |
| Current assets | 29/58 | €28,751 | €23,973 | -€4,778 | -16.6% |
| Amounts receivable within one year | 40/41 | €16,453 | €20,357 | +€3,904 | +23.7% |
| Trade receivables | 40 | €16,453 | €20,357 | +€3,904 | +23.7% |
| Cash at bank and in hand | 54/58 | €11,878 | €2,782 | -€9,096 | -76.6% |
| Deferred charges and accrued income | 490/1 | €419 | €833 | +€414 | +98.6% |
| Total equity and liabilities | 10/49 | €142,673 | €120,352 | -€22,321 | -15.6% |
| Equity | 10/15 | €26,341 | €29,342 | +€3,002 | +11.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €21,341 | €24,342 | +€3,002 | +14.1% |
| Distributable reserves | 133 | €21,341 | €24,342 | +€3,002 | +14.1% |
| Amounts payable | 17/49 | €116,333 | €91,010 | -€25,323 | -21.8% |
| Amounts payable after more than one year | 17 | €82,139 | €59,543 | -€22,596 | -27.5% |
| Financial debts | 170/4 | €82,139 | €59,543 | -€22,596 | -27.5% |
| Amounts payable within one year | 42/48 | €34,194 | €31,467 | -€2,727 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €17,123 | €18,013 | +€890 | +5.2% |
| Trade debts | 44 | €805 | €0 | -€805 | -100.0% |
| Suppliers | 440/4 | €805 | €0 | -€805 | -100.0% |
| Taxes, remuneration and social security | 45 | €16,266 | €13,454 | -€2,813 | -17.3% |
| Taxes | 450/3 | €16,266 | €12,064 | -€4,202 | -25.8% |
| Remuneration and social security | 454/9 | - | €1,390 | +€1,390 | |
| Remuneration, social security and pensions | 62 | - | €3,313 | +€3,313 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,028 | €17,543 | +€6,515 | +59.1% |
| Other operating charges | 640/8 | €520 | €566 | +€46 | +8.9% |
| Gross operating margin | 9900 | €33,285 | €47,894 | +€14,609 | +43.9% |
| Operating profit (loss) | 9901 | €21,737 | €26,471 | +€4,734 | +21.8% |
| Financial income | 75/76B | €7 | €0 | -€7 | -100.0% |
| Recurring financial income | 75 | €7 | €0 | -€7 | -100.0% |
| Financial charges | 65/66B | €17,336 | €20,011 | +€2,676 | +15.4% |
| Recurring financial charges | 65 | €17,336 | €20,011 | +€2,676 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | €4,408 | €6,460 | +€2,051 | +46.5% |
| Income taxes | 67/77 | €3,088 | €3,458 | +€371 | +12.0% |
| Profit (loss) for the period | 9904 | €1,321 | €3,002 | +€1,681 | +127.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,321 | €3,002 | +€1,681 | +127.2% |
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 6 October 2026 via checked.be.