MARC RONVAUX: what changed
MARC RONVAUX
Largest movements
- Receivables within one year +€19,295
up €19,295 (+74.0%), from €26,068 to €45,363
of which Trade receivables: +€18,308
- Cash +€4,346
up €4,346 (+22.2%), from €19,576 to €23,922
mainly Net result for the year (+€26,760) and Tax, wage and social debts (+€2,058)
- Tangible fixed assets +€2,267
up €2,267 (+89.2%), from €2,542 to €4,809
of which Furniture and vehicles: +€2,766
- Reserves +€26,760
up €26,760 (+300%), from €8,909 to €35,669
- Trade debts -€3,222
down €3,222 (-21.3%), from €15,151 to €11,928
- Tax, wage and social debts +€2,058
up €2,058 (+58.0%), from €3,547 to €5,605
of which Taxes: +€1,950
- Accrued charges and deferred income +€768
new in 2025: €768
- Gross operating margin +€32,130
up €32,130 (+47.9%), from €67,060 to €99,191
- Taxes +€9,182
up €9,182 (+838%), from €1,095 to €10,277
- Staff costs +€3,461
up €3,461 (+6.4%), from €53,938 to €57,399
- Write-downs +€2,243
new in 2025: €2,243
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €49,974 | €75,770 | +€25,796 | +51.6% |
| Fixed assets | 21/28 | €2,542 | €4,809 | +€2,267 | +89.2% |
| Tangible fixed assets | 22/27 | €2,542 | €4,809 | +€2,267 | +89.2% |
| Plant, machinery and equipment | 23 | €1,742 | €1,242 | -€499 | -28.7% |
| Furniture and vehicles | 24 | €800 | €3,566 | +€2,766 | +346% |
| Current assets | 29/58 | €47,432 | €70,961 | +€23,529 | +49.6% |
| Amounts receivable within one year | 40/41 | €26,068 | €45,363 | +€19,295 | +74.0% |
| Trade receivables | 40 | €20,453 | €38,761 | +€18,308 | +89.5% |
| Other amounts receivable | 41 | €5,615 | €6,602 | +€986 | +17.6% |
| Cash at bank and in hand | 54/58 | €19,576 | €23,922 | +€4,346 | +22.2% |
| Deferred charges and accrued income | 490/1 | €1,788 | €1,676 | -€112 | -6.3% |
| Total equity and liabilities | 10/49 | €49,974 | €75,770 | +€25,796 | +51.6% |
| Equity | 10/15 | €13,970 | €40,730 | +€26,760 | +192% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €8,909 | €35,669 | +€26,760 | +300% |
| Distributable reserves | 133 | €8,909 | €35,669 | +€26,760 | +300% |
| Profit (loss) carried forward | 14 | €61 | €61 | = | 0.0% |
| Amounts payable | 17/49 | €36,004 | €35,040 | -€965 | -2.7% |
| Amounts payable within one year | 42/48 | €36,004 | €34,272 | -€1,733 | -4.8% |
| Trade debts | 44 | €15,151 | €11,928 | -€3,222 | -21.3% |
| Suppliers | 440/4 | €15,151 | €11,928 | -€3,222 | -21.3% |
| Taxes, remuneration and social security | 45 | €3,547 | €5,605 | +€2,058 | +58.0% |
| Taxes | 450/3 | €1,812 | €3,762 | +€1,950 | +108% |
| Remuneration and social security | 454/9 | €1,735 | €1,842 | +€107 | +6.2% |
| Other amounts payable | 47/48 | €17,307 | €16,739 | -€568 | -3.3% |
| Accrued charges and deferred income | 492/3 | - | €768 | +€768 | |
| Remuneration, social security and pensions | 62 | €53,938 | €57,399 | +€3,461 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €984 | €1,491 | +€507 | +51.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,243 | +€2,243 | |
| Other operating charges | 640/8 | €626 | €595 | -€32 | -5.1% |
| Gross operating margin | 9900 | €67,060 | €99,191 | +€32,130 | +47.9% |
| Operating profit (loss) | 9901 | €11,512 | €37,462 | +€25,950 | +225% |
| Financial income | 75/76B | €31 | - | -€31 | |
| Recurring financial income | 75 | €31 | - | -€31 | |
| Financial charges | 65/66B | €949 | €424 | -€524 | -55.3% |
| Recurring financial charges | 65 | €949 | €424 | -€524 | -55.3% |
| Profit (loss) for the period before taxes | 9903 | €10,594 | €37,038 | +€26,444 | +250% |
| Income taxes | 67/77 | €1,095 | €10,277 | +€9,182 | +838% |
| Profit (loss) for the period | 9904 | €9,499 | €26,760 | +€17,261 | +182% |
| Profit (loss) for the period to be appropriated | 9905 | €9,499 | €26,760 | +€17,261 | +182% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.