JAAK RYCKEBOER: 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.
JAAK RYCKEBOER
Largest movements
- Receivables within one year -€116,458
down €116,458 (-68.2%), from €170,856 to €54,398
of which Trade receivables: -€141,983
- Cash +€112,518
up €112,518 (+430%), from €26,178 to €138,696
mainly Net result for the year (+€155,967) and Receivables within one year (+€116,458)
- Tangible fixed assets -€27,262
down €27,262 (-2.7%), from €996,509 to €969,247
of which Land and buildings: -€16,379
- Reserves +€155,967
up €155,967 (+28.3%), from €550,980 to €706,948
- Tax, wage and social debts -€79,159
down €79,159 (-92.7%), from €85,423 to €6,264
of which Taxes: -€79,159
- Debts after one year -€59,554
down €59,554 (-20.9%), from €285,374 to €225,820
- Advances received -€47,250
down €47,250 (-100%), from €47,250 to €0
- Gross operating margin -€45,300
down €45,300 (-13.5%), from €334,393 to €289,093
- Taxes -€14,542
down €14,542 (-17.8%), from €81,856 to €67,314
- Other operating charges -€4,006
down €4,006 (-36.6%), from €10,952 to €6,946
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 | €1,212,038 | €1,180,836 | -€31,202 | -2.6% |
| Fixed assets | 21/28 | €1,015,004 | €987,742 | -€27,262 | -2.7% |
| Tangible fixed assets | 22/27 | €996,509 | €969,247 | -€27,262 | -2.7% |
| Land and buildings | 22 | €945,211 | €928,832 | -€16,379 | -1.7% |
| Plant, machinery and equipment | 23 | €7,099 | €6,194 | -€904 | -12.7% |
| Furniture and vehicles | 24 | €44,199 | €34,221 | -€9,979 | -22.6% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €18,495 | €18,495 | = | 0.0% |
| Current assets | 29/58 | €197,034 | €193,093 | -€3,940 | -2.0% |
| Amounts receivable within one year | 40/41 | €170,856 | €54,398 | -€116,458 | -68.2% |
| Trade receivables | 40 | €153,487 | €11,504 | -€141,983 | -92.5% |
| Other amounts receivable | 41 | €17,369 | €42,894 | +€25,525 | +147% |
| Cash at bank and in hand | 54/58 | €26,178 | €138,696 | +€112,518 | +430% |
| Total equity and liabilities | 10/49 | €1,212,038 | €1,180,836 | -€31,202 | -2.6% |
| Equity | 10/15 | €729,577 | €885,544 | +€155,967 | +21.4% |
| Contributions | 10/11 | €178,596 | €178,596 | = | 0.0% |
| Reserves | 13 | €550,980 | €706,948 | +€155,967 | +28.3% |
| Distributable reserves | 133 | €550,980 | €706,948 | +€155,967 | +28.3% |
| Amounts payable | 17/49 | €482,461 | €295,291 | -€187,170 | -38.8% |
| Amounts payable after more than one year | 17 | €285,374 | €225,820 | -€59,554 | -20.9% |
| Financial debts | 170/4 | €285,374 | €225,820 | -€59,554 | -20.9% |
| Amounts payable within one year | 42/48 | €197,087 | €69,472 | -€127,616 | -64.8% |
| Current portion of amounts payable after more than one year | 42 | €57,706 | €59,554 | +€1,848 | +3.2% |
| Trade debts | 44 | €6,708 | €3,653 | -€3,055 | -45.5% |
| Suppliers | 440/4 | €6,708 | €3,653 | -€3,055 | -45.5% |
| Advances received on contracts in progress | 46 | €47,250 | €0 | -€47,250 | -100% |
| Taxes, remuneration and social security | 45 | €85,423 | €6,264 | -€79,159 | -92.7% |
| Taxes | 450/3 | €85,423 | €6,264 | -€79,159 | -92.7% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,237 | €50,017 | +€1,780 | +3.7% |
| Other operating charges | 640/8 | €10,952 | €6,946 | -€4,006 | -36.6% |
| Gross operating margin | 9900 | €334,393 | €289,093 | -€45,300 | -13.5% |
| Operating profit (loss) | 9901 | €275,204 | €232,130 | -€43,073 | -15.7% |
| Financial income | 75/76B | €65 | €1,077 | +€1,011 | +1,545% |
| Recurring financial income | 75 | €65 | €1,077 | +€1,011 | +1,545% |
| Financial charges | 65/66B | €12,481 | €9,925 | -€2,555 | -20.5% |
| Recurring financial charges | 65 | €12,481 | €9,925 | -€2,555 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €262,788 | €223,282 | -€39,507 | -15.0% |
| Income taxes | 67/77 | €81,856 | €67,314 | -€14,542 | -17.8% |
| Profit (loss) for the period | 9904 | €180,933 | €155,967 | -€24,965 | -13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €180,933 | €155,967 | -€24,965 | -13.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.