M. RYCKAERT: 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.
M. RYCKAERT
Largest movements
- Stocks and contracts +€73,086
up €73,086 (+24.8%), from €294,412 to €367,498
- Tangible fixed assets -€62,894
down €62,894 (-13.8%), from €455,747 to €392,853
of which Plant, machinery and equipment: -€42,269
- Cash +€49,842
up €49,842 (+69.5%), from €71,697 to €121,538
mainly Depreciation (+€68,422) and Net result for the year (+€66,840)
- Receivables within one year -€25,549
down €25,549 (-1.9%), from €1.3m to €1.3m
of which Other amounts receivable: -€14,174
- Short-term financial debts -€75,033
down €75,033 (-28.4%), from €263,982 to €188,949
- Profit (loss) carried forward +€66,840
up €66,840 (+77.3%), from -€86,437 to -€19,597
- Accrued charges and deferred income +€46,896
up €46,896 (+123.8%), from €37,879 to €84,775
- Other debts +€26,849
up €26,849 (+7.0%), from €386,070 to €412,919
- Staff costs -€123,902
down €123,902 (-16.6%), from €747,187 to €623,285
- Gross operating margin +€108,398
up €108,398 (+14.7%), from €737,712 to €846,110
- Write-downs -€44,824
down €44,824 (-80.5%), from €55,653 to €10,829
- Financial income -€30,758
down €30,758 (-42.2%), from €72,845 to €42,087
- Other operating charges +€21,071
up €21,071 (+41.1%), from €51,218 to €72,289
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 | €2,160,974 | €2,201,100 | +€40,126 | +1.9% |
| Fixed assets | 21/28 | €456,314 | €402,255 | -€54,059 | -11.8% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €455,747 | €392,853 | -€62,894 | -13.8% |
| Land and buildings | 22 | €70,379 | €66,470 | -€3,909 | -5.6% |
| Plant, machinery and equipment | 23 | €355,522 | €313,253 | -€42,269 | -11.9% |
| Furniture and vehicles | 24 | €29,846 | €13,130 | -€16,716 | -56.0% |
| Financial fixed assets | 28 | €567 | €9,402 | +€8,835 | +1558.1% |
| Current assets | 29/58 | €1,704,660 | €1,798,845 | +€94,185 | +5.5% |
| Stocks and contracts in progress | 3 | €294,412 | €367,498 | +€73,086 | +24.8% |
| Stocks | 30/36 | €294,412 | €367,498 | +€73,086 | +24.8% |
| Amounts receivable within one year | 40/41 | €1,311,512 | €1,285,963 | -€25,549 | -1.9% |
| Trade receivables | 40 | €1,288,988 | €1,277,612 | -€11,376 | -0.9% |
| Other amounts receivable | 41 | €22,525 | €8,351 | -€14,174 | -62.9% |
| Cash at bank and in hand | 54/58 | €71,697 | €121,538 | +€49,842 | +69.5% |
| Deferred charges and accrued income | 490/1 | €27,039 | €23,846 | -€3,193 | -11.8% |
| Total equity and liabilities | 10/49 | €2,160,974 | €2,201,100 | +€40,126 | +1.9% |
| Equity | 10/15 | €890,579 | €957,418 | +€66,839 | +7.5% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Capital | 10 | €350,000 | €350,000 | = | 0.0% |
| Issued capital | 100 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €627,015 | €627,015 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €35,000 | €35,000 | = | 0.0% |
| Legal reserve | 130 | €35,000 | €35,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,015 | €7,015 | -€0 | 0.0% |
| Distributable reserves | 133 | €585,000 | €585,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,437 | -€19,597 | +€66,840 | +77.3% |
| Amounts payable | 17/49 | €1,270,396 | €1,243,682 | -€26,714 | -2.1% |
| Amounts payable within one year | 42/48 | €1,232,517 | €1,158,907 | -€73,610 | -6.0% |
| Financial debts | 43 | €263,982 | €188,949 | -€75,033 | -28.4% |
| Credit institutions | 430/8 | €263,982 | €188,949 | -€75,033 | -28.4% |
| Trade debts | 44 | €483,481 | €472,876 | -€10,605 | -2.2% |
| Suppliers | 440/4 | €483,481 | €472,876 | -€10,605 | -2.2% |
| Taxes, remuneration and social security | 45 | €98,984 | €84,163 | -€14,821 | -15.0% |
| Taxes | 450/3 | €7,251 | €7,237 | -€14 | -0.2% |
| Remuneration and social security | 454/9 | €91,733 | €76,926 | -€14,807 | -16.1% |
| Other amounts payable | 47/48 | €386,070 | €412,919 | +€26,849 | +7.0% |
| Accrued charges and deferred income | 492/3 | €37,879 | €84,775 | +€46,896 | +123.8% |
| Remuneration, social security and pensions | 62 | €747,187 | €623,285 | -€123,902 | -16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,934 | €68,422 | -€6,512 | -8.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €55,653 | €10,829 | -€44,824 | -80.5% |
| Other operating charges | 640/8 | €51,218 | €72,289 | +€21,071 | +41.1% |
| Gross operating margin | 9900 | €737,712 | €846,110 | +€108,398 | +14.7% |
| Operating profit (loss) | 9901 | -€191,280 | €71,285 | +€262,565 | |
| Financial income | 75/76B | €72,845 | €42,087 | -€30,758 | -42.2% |
| Recurring financial income | 75 | €72,845 | €42,087 | -€30,758 | -42.2% |
| Financial charges | 65/66B | €47,280 | €46,532 | -€748 | -1.6% |
| Recurring financial charges | 65 | €47,280 | €46,532 | -€748 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | -€165,714 | €66,840 | +€232,554 | |
| Profit (loss) for the period | 9904 | -€165,714 | €66,840 | +€232,554 | |
| Profit (loss) for the period to be appropriated | 9905 | -€165,714 | €66,840 | +€232,554 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.