NAEYE RONNICK: 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.
NAEYE RONNICK
Largest movements
- Receivables within one year -€101,104
down €101,104 (-65.5%), from €154,394 to €53,290
of which Trade receivables: -€92,506
- Stocks and contracts -€80,893
down €80,893 (-39.8%), from €203,122 to €122,229
of which Stocks: -€51,201
- Tangible fixed assets -€23,228
down €23,228 (-48.7%), from €47,741 to €24,513
- Cash +€8,614
up €8,614 (+43.9%), from €19,625 to €28,239
mainly Receivables within one year (+€101,104) and Stocks and contracts (+€80,893)
- Reserves -€137,793
down €137,793 (-100%), from €137,793 to €0
- Profit (loss) carried forward -€57,212
down €57,212, from €0 to -€57,212
- Trade debts +€7,395
up €7,395 (+2.1%), from €344,400 to €351,795
- Gross operating margin -€201,470
down €201,470 (-94.8%), from €212,620 to €11,150
- Staff costs +€19,281
up €19,281 (+11.9%), from €161,818 to €181,098
- Financial charges -€13,336
down €13,336 (-67.0%), from €19,913 to €6,577
of which Non-recurring financial charges: -€9,347
- Depreciation -€10,248
down €10,248 (-30.4%), from €33,752 to €23,504
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 | €659,041 | €460,581 | -€198,460 | -30.1% |
| Fixed assets | 21/28 | €47,742 | €24,514 | -€23,228 | -48.7% |
| Intangible fixed assets | 21 | €1 | €0 | -€0 | -18.2% |
| Tangible fixed assets | 22/27 | €47,741 | €24,513 | -€23,228 | -48.7% |
| Plant, machinery and equipment | 23 | €20,970 | €10,701 | -€10,270 | -49.0% |
| Furniture and vehicles | 24 | €7,547 | €1,443 | -€6,104 | -80.9% |
| Leasing and similar rights | 25 | €16,624 | €10,329 | -€6,295 | -37.9% |
| Other tangible fixed assets | 26 | €2,600 | €2,041 | -€559 | -21.5% |
| Current assets | 29/58 | €611,299 | €436,067 | -€175,232 | -28.7% |
| Amounts receivable after more than one year | 29 | €225,000 | €225,000 | = | 0.0% |
| Other amounts receivable | 291 | €225,000 | €225,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €203,122 | €122,229 | -€80,893 | -39.8% |
| Stocks | 30/36 | €118,622 | €67,421 | -€51,201 | -43.2% |
| Contracts in progress | 37 | €84,500 | €54,808 | -€29,692 | -35.1% |
| Amounts receivable within one year | 40/41 | €154,394 | €53,290 | -€101,104 | -65.5% |
| Trade receivables | 40 | €140,131 | €47,625 | -€92,506 | -66.0% |
| Other amounts receivable | 41 | €14,264 | €5,666 | -€8,598 | -60.3% |
| Cash at bank and in hand | 54/58 | €19,625 | €28,239 | +€8,614 | +43.9% |
| Deferred charges and accrued income | 490/1 | €9,157 | €7,309 | -€1,849 | -20.2% |
| Total equity and liabilities | 10/49 | €659,041 | €460,581 | -€198,460 | -30.1% |
| Equity | 10/15 | €142,793 | -€52,212 | -€195,005 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €137,793 | €0 | -€137,793 | -100% |
| Distributable reserves | 133 | €137,793 | €0 | -€137,793 | -100% |
| Profit (loss) carried forward | 14 | €0 | -€57,212 | -€57,212 | |
| Amounts payable | 17/49 | €516,248 | €512,793 | -€3,455 | -0.7% |
| Amounts payable after more than one year | 17 | €9,239 | €3,727 | -€5,512 | -59.7% |
| Financial debts | 170/4 | €9,239 | €3,727 | -€5,512 | -59.7% |
| Amounts payable within one year | 42/48 | €506,957 | €508,733 | +€1,776 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €11,251 | €5,512 | -€5,739 | -51.0% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €344,400 | €351,795 | +€7,395 | +2.1% |
| Suppliers | 440/4 | €344,400 | €351,795 | +€7,395 | +2.1% |
| Taxes, remuneration and social security | 45 | €11,348 | €9,346 | -€2,002 | -17.6% |
| Taxes | 450/3 | €3,052 | €1,055 | -€1,997 | -65.4% |
| Remuneration and social security | 454/9 | €8,296 | €8,291 | -€5 | -0.1% |
| Other amounts payable | 47/48 | €14,958 | €17,080 | +€2,122 | +14.2% |
| Accrued charges and deferred income | 492/3 | €52 | €333 | +€281 | +540% |
| Non-recurring operating income | 76A | €8,391 | €0 | -€8,391 | -100% |
| Remuneration, social security and pensions | 62 | €161,818 | €181,098 | +€19,281 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,752 | €23,504 | -€10,248 | -30.4% |
| Other operating charges | 640/8 | €585 | €1,454 | +€869 | +148% |
| Gross operating margin | 9900 | €212,620 | €11,150 | -€201,470 | -94.8% |
| Operating profit (loss) | 9901 | €16,466 | -€194,906 | -€211,372 | |
| Financial income | 75/76B | €6,727 | €6,630 | -€97 | -1.4% |
| Recurring financial income | 75 | €6,727 | €6,630 | -€97 | -1.4% |
| Financial charges | 65/66B | €19,913 | €6,577 | -€13,336 | -67.0% |
| Recurring financial charges | 65 | €10,413 | €6,425 | -€3,988 | -38.3% |
| Non-recurring financial charges | 66B | €9,499 | €152 | -€9,347 | -98.4% |
| Profit (loss) for the period before taxes | 9903 | €3,280 | -€194,853 | -€198,134 | |
| Income taxes | 67/77 | €2,202 | €151 | -€2,050 | -93.1% |
| Profit (loss) for the period | 9904 | €1,079 | -€195,005 | -€196,083 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,079 | -€195,005 | -€196,083 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.