Ralph & Blush: what changed
Two fiscal 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.
Ralph & Blush
Largest movements
- Stocks and contracts +€38,272
up €38,272 (+83.7%), from €45,728 to €84,000
- Tangible fixed assets -€5,483
down €5,483 (-21.8%), from €25,135 to €19,653
- Deferred charges and accrued income -€2,151
down €2,151 (-90.0%), from €2,389 to €238
- Debts after one year +€30,000
up €30,000 (+120.0%), from €25,000 to €55,000
of which Other amounts payable: +€30,000
- Short-term financial debts +€11,316
up €11,316 (+23.5%), from €48,143 to €59,459
- Profit (loss) carried forward -€10,930
down €10,930 (-78.9%), from -€13,847 to -€24,776
- Trade debts -€6,705
down €6,705 (-49.9%), from €13,439 to €6,734
- Tax, wage and social debts +€5,207
up €5,207 (+3777.9%), from €138 to €5,345
- Gross operating margin +€10,360
up €10,360, from -€8,745 to €1,616
- Financial charges +€4,754
up €4,754 (+377.9%), from €1,258 to €6,012
- Depreciation +€3,152
up €3,152 (+103.7%), from €3,040 to €6,193
- Other operating charges -€377
down €377 (-41.9%), from €900 to €523
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.
Cash bridge derived
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 | €82,874 | €113,898 | +€31,024 | +37.4% |
| Formation expenses | 20 | €2,788 | €2,078 | -€710 | -25.5% |
| Fixed assets | 21/28 | €31,135 | €25,653 | -€5,483 | -17.6% |
| Tangible fixed assets | 22/27 | €25,135 | €19,653 | -€5,483 | -21.8% |
| Plant, machinery and equipment | 23 | €25,135 | €19,653 | -€5,483 | -21.8% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €48,951 | €86,168 | +€37,217 | +76.0% |
| Stocks and contracts in progress | 3 | €45,728 | €84,000 | +€38,272 | +83.7% |
| Stocks | 30/36 | €45,728 | €84,000 | +€38,272 | +83.7% |
| Amounts receivable within one year | 40/41 | €622 | €864 | +€242 | +38.9% |
| Trade receivables | 40 | - | €864 | +€864 | |
| Other amounts receivable | 41 | €622 | - | -€622 | |
| Cash at bank and in hand | 54/58 | €212 | €1,066 | +€853 | +402.2% |
| Deferred charges and accrued income | 490/1 | €2,389 | €238 | -€2,151 | -90.0% |
| Total equity and liabilities | 10/49 | €82,874 | €113,898 | +€31,024 | +37.4% |
| Equity | 10/15 | -€8,847 | -€19,776 | -€10,930 | -123.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,847 | -€24,776 | -€10,930 | -78.9% |
| Amounts payable | 17/49 | €91,720 | €133,674 | +€41,954 | +45.7% |
| Amounts payable after more than one year | 17 | €25,000 | €55,000 | +€30,000 | +120.0% |
| Financial debts | 170/4 | €25,000 | €25,000 | = | 0.0% |
| Other amounts payable | 178/9 | - | €30,000 | +€30,000 | |
| Amounts payable within one year | 42/48 | €66,720 | €77,678 | +€10,958 | +16.4% |
| Financial debts | 43 | €48,143 | €59,459 | +€11,316 | +23.5% |
| Credit institutions | 430/8 | €48,143 | €59,459 | +€11,316 | +23.5% |
| Trade debts | 44 | €13,439 | €6,734 | -€6,705 | -49.9% |
| Suppliers | 440/4 | €13,439 | €6,734 | -€6,705 | -49.9% |
| Taxes, remuneration and social security | 45 | €138 | €5,345 | +€5,207 | +3777.9% |
| Taxes | 450/3 | €138 | €5,345 | +€5,207 | +3777.9% |
| Other amounts payable | 47/48 | €5,000 | €6,140 | +€1,140 | +22.8% |
| Accrued charges and deferred income | 492/3 | - | €996 | +€996 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,040 | €6,193 | +€3,152 | +103.7% |
| Other operating charges | 640/8 | €900 | €523 | -€377 | -41.9% |
| Gross operating margin | 9900 | -€8,745 | €1,616 | +€10,360 | |
| Operating profit (loss) | 9901 | -€12,685 | -€5,100 | +€7,585 | +59.8% |
| Financial income | 75/76B | €97 | €182 | +€85 | +88.3% |
| Recurring financial income | 75 | €97 | €182 | +€85 | +88.3% |
| Financial charges | 65/66B | €1,258 | €6,012 | +€4,754 | +377.9% |
| Recurring financial charges | 65 | €1,258 | €6,012 | +€4,754 | +377.9% |
| Profit (loss) for the period before taxes | 9903 | -€13,847 | -€10,930 | +€2,917 | +21.1% |
| Profit (loss) for the period | 9904 | -€13,847 | -€10,930 | +€2,917 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,847 | -€10,930 | +€2,917 | +21.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.