Michel Ricker: 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.
Michel Ricker
Largest movements
- Receivables within one year +€17,563
up €17,563 (+127%), from €13,878 to €31,441
of which Other amounts receivable: +€17,952
- Cash -€12,545
down €12,545 (-68.7%), from €18,257 to €5,712
mainly Contributions, distributions and other (-€67,000) and Receivables within one year (-€17,563)
- Tangible fixed assets -€9,405
down €9,405 (-89.4%), from €10,514 to €1,109
- Deferred charges and accrued income +€534
up €534 (+19.7%), from €2,707 to €3,241
- Other debts -€5,800
down €5,800 (-36.3%), from €16,000 to €10,200
- Profit (loss) carried forward +€991
up €991, from €0 to €991
- Trade debts +€745
up €745 (+244%), from €305 to €1,049
- Gross operating margin -€3,147
down €3,147 (-3.1%), from €100,245 to €97,098
- Depreciation -€1,707
down €1,707 (-17.0%), from €10,056 to €8,349
- Other operating charges +€1,151
up €1,151 (+129%), from €892 to €2,044
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 | €46,107 | €42,254 | -€3,853 | -8.4% |
| Fixed assets | 21/28 | €11,264 | €1,859 | -€9,405 | -83.5% |
| Tangible fixed assets | 22/27 | €10,514 | €1,109 | -€9,405 | -89.4% |
| Furniture and vehicles | 24 | €10,514 | €1,109 | -€9,405 | -89.4% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €34,842 | €40,395 | +€5,552 | +15.9% |
| Amounts receivable within one year | 40/41 | €13,878 | €31,441 | +€17,563 | +127% |
| Trade receivables | 40 | €2,721 | €2,332 | -€389 | -14.3% |
| Other amounts receivable | 41 | €11,157 | €29,109 | +€17,952 | +161% |
| Cash at bank and in hand | 54/58 | €18,257 | €5,712 | -€12,545 | -68.7% |
| Deferred charges and accrued income | 490/1 | €2,707 | €3,241 | +€534 | +19.7% |
| Total equity and liabilities | 10/49 | €46,107 | €42,254 | -€3,853 | -8.4% |
| Equity | 10/15 | €28,214 | €29,205 | +€991 | +3.5% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €24,714 | €24,714 | = | 0.0% |
| Distributable reserves | 133 | €24,714 | €24,714 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €991 | +€991 | |
| Amounts payable | 17/49 | €17,893 | €13,049 | -€4,844 | -27.1% |
| Amounts payable within one year | 42/48 | €17,893 | €13,049 | -€4,844 | -27.1% |
| Trade debts | 44 | €305 | €1,049 | +€745 | +244% |
| Suppliers | 440/4 | €305 | €1,049 | +€745 | +244% |
| Taxes, remuneration and social security | 45 | €1,588 | €1,800 | +€212 | +13.3% |
| Taxes | 450/3 | €1,588 | €1,800 | +€212 | +13.3% |
| Other amounts payable | 47/48 | €16,000 | €10,200 | -€5,800 | -36.3% |
| Remuneration, social security and pensions | 62 | €250 | €250 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,056 | €8,349 | -€1,707 | -17.0% |
| Other operating charges | 640/8 | €892 | €2,044 | +€1,151 | +129% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €100,245 | €97,098 | -€3,147 | -3.1% |
| Operating profit (loss) | 9901 | €89,047 | €86,455 | -€2,591 | -2.9% |
| Financial income | 75/76B | €45 | €937 | +€892 | +1,995% |
| Recurring financial income | 75 | €45 | €937 | +€892 | +1,995% |
| Financial charges | 65/66B | €312 | €48 | -€264 | -84.6% |
| Recurring financial charges | 65 | €312 | €48 | -€264 | -84.6% |
| Profit (loss) for the period before taxes | 9903 | €88,779 | €87,344 | -€1,435 | -1.6% |
| Income taxes | 67/77 | €19,691 | €19,353 | -€338 | -1.7% |
| Profit (loss) for the period | 9904 | €69,088 | €67,991 | -€1,097 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €69,088 | €67,991 | -€1,097 | -1.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.