R.ORTMANS: 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.ORTMANS
Largest movements
- Cash -€32,797
down €32,797 (-100%), from €32,797 to €0
mainly Debts after one year (-€18,101) and Net result for the year (-€11,898)
- Tangible fixed assets -€13,372
down €13,372 (-20.5%), from €65,284 to €51,912
of which Furniture and vehicles: -€14,322
- Receivables within one year +€10,568
up €10,568 (+34.8%), from €30,412 to €40,980
of which Trade receivables: +€24,757
- Receivables after one year -€2,554
down €2,554 (-19.4%), from €13,157 to €10,604
- Debts after one year -€18,101
down €18,101 (-13.9%), from €130,464 to €112,363
- Profit (loss) carried forward -€11,898
down €11,898 (-7.0%), from -€169,931 to -€181,829
- Current portion of long-term debt -€7,255
down €7,255 (-17.4%), from €41,597 to €34,343
- Short-term financial debts +€3,540
new in 2025: €3,540
- Tax, wage and social debts -€1,774
down €1,774 (-5.9%), from €30,002 to €28,228
of which Taxes: -€4,968
- Gross operating margin -€31,919
down €31,919 (-36.5%), from €87,398 to €55,479
- Taxes -€14,666
down €14,666 (-98.0%), from €14,958 to €292
- Depreciation +€1,486
up €1,486 (+7.7%), from €19,307 to €20,794
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 | €144,591 | €107,644 | -€36,947 | -25.6% |
| Fixed assets | 21/28 | €65,284 | €51,912 | -€13,372 | -20.5% |
| Tangible fixed assets | 22/27 | €65,284 | €51,912 | -€13,372 | -20.5% |
| Furniture and vehicles | 24 | €55,589 | €41,268 | -€14,322 | -25.8% |
| Other tangible fixed assets | 26 | €9,694 | €10,644 | +€949 | +9.8% |
| Current assets | 29/58 | €79,307 | €55,732 | -€23,575 | -29.7% |
| Amounts receivable after more than one year | 29 | €13,157 | €10,604 | -€2,554 | -19.4% |
| Other amounts receivable | 291 | €13,157 | €10,604 | -€2,554 | -19.4% |
| Amounts receivable within one year | 40/41 | €30,412 | €40,980 | +€10,568 | +34.8% |
| Trade receivables | 40 | €0 | €24,757 | +€24,757 | |
| Other amounts receivable | 41 | €30,412 | €16,224 | -€14,188 | -46.7% |
| Cash at bank and in hand | 54/58 | €32,797 | €0 | -€32,797 | -100% |
| Deferred charges and accrued income | 490/1 | €2,941 | €4,148 | +€1,207 | +41.0% |
| Total equity and liabilities | 10/49 | €144,591 | €107,644 | -€36,947 | -25.6% |
| Equity | 10/15 | -€73,471 | -€85,369 | -€11,898 | -16.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €77,860 | €77,860 | = | 0.0% |
| Distributable reserves | 133 | €77,860 | €77,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€169,931 | -€181,829 | -€11,898 | -7.0% |
| Amounts payable | 17/49 | €218,062 | €193,013 | -€25,049 | -11.5% |
| Amounts payable after more than one year | 17 | €130,464 | €112,363 | -€18,101 | -13.9% |
| Financial debts | 170/4 | €130,464 | €112,363 | -€18,101 | -13.9% |
| Amounts payable within one year | 42/48 | €87,598 | €80,651 | -€6,948 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €41,597 | €34,343 | -€7,255 | -17.4% |
| Financial debts | 43 | - | €3,540 | +€3,540 | |
| Credit institutions | 430/8 | - | €3,540 | +€3,540 | |
| Trade debts | 44 | €15,999 | €14,540 | -€1,458 | -9.1% |
| Suppliers | 440/4 | €15,999 | €14,540 | -€1,458 | -9.1% |
| Taxes, remuneration and social security | 45 | €30,002 | €28,228 | -€1,774 | -5.9% |
| Taxes | 450/3 | €25,910 | €20,942 | -€4,968 | -19.2% |
| Remuneration and social security | 454/9 | €4,092 | €7,286 | +€3,194 | +78.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €36,310 | €36,630 | +€319 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,307 | €20,794 | +€1,486 | +7.7% |
| Other operating charges | 640/8 | €2,160 | €1,939 | -€221 | -10.2% |
| Gross operating margin | 9900 | €87,398 | €55,479 | -€31,919 | -36.5% |
| Operating profit (loss) | 9901 | €29,621 | -€3,883 | -€33,504 | |
| Financial income | 75/76B | €327 | €386 | +€58 | +17.8% |
| Recurring financial income | 75 | €327 | €386 | +€58 | +17.8% |
| Financial charges | 65/66B | €7,575 | €8,108 | +€533 | +7.0% |
| Recurring financial charges | 65 | €7,575 | €8,108 | +€533 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €22,373 | -€11,606 | -€33,979 | |
| Income taxes | 67/77 | €14,958 | €292 | -€14,666 | -98.0% |
| Profit (loss) for the period | 9904 | €7,415 | -€11,898 | -€19,313 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,415 | -€11,898 | -€19,313 |
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 13 October 2026 via checked.be.