R.J. STABLES: 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.
R.J. STABLES
Largest movements
- Receivables within one year -€309,630
down €309,630 (-91.1%), from €339,973 to €30,343
of which Trade receivables: -€222,032
- Cash -€142,271
down €142,271 (-79.4%), from €179,252 to €36,981
mainly Trade debts (-€304,682) and Other debts (-€80,000)
- Stocks and contracts -€42,750
down €42,750 (-27.5%), from €155,250 to €112,500
- Tangible fixed assets +€7,384
up €7,384 (+64.8%), from €11,403 to €18,787
of which Furniture and vehicles: +€7,653
- Trade debts -€304,682
down €304,682 (-88.8%), from €343,212 to €38,530
- Other debts -€80,000
down €80,000 (-100%), from €80,000 to €0
- Tax, wage and social debts -€57,969
down €57,969 (-54.8%), from €105,775 to €47,806
of which Taxes: -€62,305
- Profit (loss) carried forward -€40,358
down €40,358 (-26.0%), from €155,277 to €114,919
- Gross operating margin -€158,413
down €158,413 (-87.1%), from €181,810 to €23,396
- Staff costs +€55,745
up €55,745 (+1,235%), from €4,513 to €60,258
- Taxes -€39,875
down €39,875 (-99.3%), from €40,149 to €274
- Financial income +€12,423
up €12,423 (+748%), from €1,661 to €14,084
- Other operating charges -€8,425
down €8,425 (-80.6%), from €10,449 to €2,024
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 | €689,263 | €206,254 | -€483,009 | -70.1% |
| Fixed assets | 21/28 | €11,403 | €20,537 | +€9,134 | +80.1% |
| Tangible fixed assets | 22/27 | €11,403 | €18,787 | +€7,384 | +64.8% |
| Plant, machinery and equipment | 23 | €642 | €374 | -€268 | -41.8% |
| Furniture and vehicles | 24 | €10,761 | €18,413 | +€7,653 | +71.1% |
| Financial fixed assets | 28 | - | €1,750 | +€1,750 | |
| Current assets | 29/58 | €677,860 | €185,717 | -€492,143 | -72.6% |
| Stocks and contracts in progress | 3 | €155,250 | €112,500 | -€42,750 | -27.5% |
| Stocks | 30/36 | €155,250 | €112,500 | -€42,750 | -27.5% |
| Amounts receivable within one year | 40/41 | €339,973 | €30,343 | -€309,630 | -91.1% |
| Trade receivables | 40 | €224,758 | €2,726 | -€222,032 | -98.8% |
| Other amounts receivable | 41 | €115,216 | €27,617 | -€87,598 | -76.0% |
| Cash at bank and in hand | 54/58 | €179,252 | €36,981 | -€142,271 | -79.4% |
| Deferred charges and accrued income | 490/1 | €3,385 | €5,893 | +€2,508 | +74.1% |
| Total equity and liabilities | 10/49 | €689,263 | €206,254 | -€483,009 | -70.1% |
| Equity | 10/15 | €160,277 | €119,919 | -€40,358 | -25.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,277 | €114,919 | -€40,358 | -26.0% |
| Amounts payable | 17/49 | €528,986 | €86,336 | -€442,651 | -83.7% |
| Amounts payable within one year | 42/48 | €528,986 | €86,336 | -€442,651 | -83.7% |
| Trade debts | 44 | €343,212 | €38,530 | -€304,682 | -88.8% |
| Suppliers | 440/4 | €343,212 | €38,530 | -€304,682 | -88.8% |
| Taxes, remuneration and social security | 45 | €105,775 | €47,806 | -€57,969 | -54.8% |
| Taxes | 450/3 | €105,528 | €43,223 | -€62,305 | -59.0% |
| Remuneration and social security | 454/9 | €247 | €4,583 | +€4,336 | +1,754% |
| Other amounts payable | 47/48 | €80,000 | €0 | -€80,000 | -100% |
| Remuneration, social security and pensions | 62 | €4,513 | €60,258 | +€55,745 | +1,235% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,841 | €7,316 | +€4,475 | +158% |
| Other operating charges | 640/8 | €10,449 | €2,024 | -€8,425 | -80.6% |
| Gross operating margin | 9900 | €181,810 | €23,396 | -€158,413 | -87.1% |
| Operating profit (loss) | 9901 | €164,007 | -€46,202 | -€210,209 | |
| Financial income | 75/76B | €1,661 | €14,084 | +€12,423 | +748% |
| Recurring financial income | 75 | €1,661 | €14,084 | +€12,423 | +748% |
| Financial charges | 65/66B | €7,276 | €7,966 | +€690 | +9.5% |
| Recurring financial charges | 65 | €7,276 | €7,966 | +€690 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | €158,392 | -€40,084 | -€198,476 | |
| Income taxes | 67/77 | €40,149 | €274 | -€39,875 | -99.3% |
| Profit (loss) for the period | 9904 | €118,243 | -€40,358 | -€158,601 | |
| Profit (loss) for the period to be appropriated | 9905 | €118,243 | -€40,358 | -€158,601 |
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 31 October 2026 via checked.be.