RICAN: 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.
What changed
RICAN
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€280,503
2024 · €373,187-€92,684
Equity
€3.3m
2024 · €3.0m+€280,503
Cash
€44,216
2024 · €161,397-€117,182
Balance sheet total
€8.0m
2024 · €8.6m-€669,266
Largest movements
Assets
- Receivables within one year -€350,283
down €350,283 (-32.7%), from €1.1m to €720,842
of which Other amounts receivable: -€495,047
- Tangible fixed assets -€200,954
down €200,954 (-2.7%), from €7.4m to €7.2m
of which Land and buildings: -€198,156
- Cash -€117,182
down €117,182 (-72.6%), from €161,397 to €44,216
mainly Other debts (-€700,000) and Current portion of long-term debt (-€412,856)
Equity and liabilities
- Other debts -€700,000
down €700,000 (-100%), from €700,000 to €0
- Current portion of long-term debt -€412,856
down €412,856 (-8.8%), from €4.7m to €4.3m
- Profit (loss) carried forward +€280,503
up €280,503 (+9.5%), from -€3.0m to -€2.7m
- Trade debts +€125,065
up €125,065 (+258%), from €48,442 to €173,507
Income statement
- Turnover -€1.5m
no longer reported in 2025 (was €1.5m)
- Gross operating margin +€891,748
new in 2025: €891,748
- Goods and materials -€256,809
no longer reported in 2025 (was €256,809)
- Services and other goods -€149,411
no longer reported in 2025 (was €149,411)
- Financial charges -€89,758
down €89,758 (-34.5%), from €260,523 to €170,765
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.
Result 2024
€373,187
Turnover
-€1.5m
Other operating income
-€35,796
Goods and materials
+€256,809
Services and other goods
+€149,411
Depreciation
+€7,320
Provisions
+€10,000
Other operating charges
+€68,235
Other operating items
+€891,748
Financial income
+€60
Financial charges
+€89,758
Taxes
-€30,383
Result 2025
€280,503
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€443,801
Investment
-€105,275
Financing
-€455,708
Cash 2024
€161,397
From operations (derived)
+€443,801
Net result for the year
+€280,503
Depreciation
+€306,229
Receivables within one year
+€350,283
Deferred charges and accrued income
+€847
Provisions
-€10,000
Trade debts
+€125,065
Tax, wage and social debts
+€34,516
Other debts
-€700,000
Accrued charges and deferred income
+€56,358
Investment (derived)
-€105,275
Investment in fixed assets (net)
-€105,275
Financing
-€455,708
Debts after one year
-€42,852
Current portion of long-term debt
-€412,856
Cash 2025
€44,216
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,645,803 | €7,976,537 | -€669,266 | -7.7% |
| Fixed assets | 21/28 | €7,365,691 | €7,164,737 | -€200,954 | -2.7% |
| Tangible fixed assets | 22/27 | €7,365,691 | €7,164,737 | -€200,954 | -2.7% |
| Land and buildings | 22 | €7,360,808 | €7,162,652 | -€198,156 | -2.7% |
| Furniture and vehicles | 24 | €4,883 | €2,085 | -€2,798 | -57.3% |
| Current assets | 29/58 | €1,280,112 | €811,800 | -€468,312 | -36.6% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,071,125 | €720,842 | -€350,283 | -32.7% |
| Trade receivables | 40 | €58,775 | €203,539 | +€144,764 | +246% |
| Other amounts receivable | 41 | €1,012,350 | €517,303 | -€495,047 | -48.9% |
| Cash at bank and in hand | 54/58 | €161,397 | €44,216 | -€117,182 | -72.6% |
| Deferred charges and accrued income | 490/1 | €47,590 | €46,743 | -€847 | -1.8% |
| Total equity and liabilities | 10/49 | €8,645,803 | €7,976,537 | -€669,266 | -7.7% |
| Equity | 10/15 | €3,003,561 | €3,284,064 | +€280,503 | +9.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €5,946,198 | €5,946,198 | = | 0.0% |
| Reserves | 13 | €744 | €744 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €744 | €744 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,961,981 | -€2,681,478 | +€280,503 | +9.5% |
| Provisions and deferred taxes | 16 | €10,000 | €0 | -€10,000 | -100% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €0 | -€10,000 | -100% |
| Other liabilities and charges | 164/5 | €10,000 | €0 | -€10,000 | -100% |
| Amounts payable | 17/49 | €5,632,242 | €4,692,473 | -€939,769 | -16.7% |
| Amounts payable after more than one year | 17 | €184,689 | €141,837 | -€42,852 | -23.2% |
| Financial debts | 170/4 | €171,444 | €128,592 | -€42,852 | -25.0% |
| Credit institutions | 173 | €171,444 | - | -€171,444 | |
| Other amounts payable | 178/9 | €13,245 | €13,245 | = | 0.0% |
| Amounts payable within one year | 42/48 | €5,447,553 | €4,494,278 | -€953,275 | -17.5% |
| Current portion of amounts payable after more than one year | 42 | €4,667,652 | €4,254,797 | -€412,856 | -8.8% |
| Trade debts | 44 | €48,442 | €173,507 | +€125,065 | +258% |
| Suppliers | 440/4 | €48,442 | €173,507 | +€125,065 | +258% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €31,459 | €65,975 | +€34,516 | +110% |
| Taxes | 450/3 | €31,459 | €65,975 | +€34,516 | +110% |
| Other amounts payable | 47/48 | €700,000 | €0 | -€700,000 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | €56,358 | +€56,358 | |
| Operating income | 70/76A | €1,535,641 | - | -€1.5m | |
| Turnover | 70 | €1,499,846 | - | -€1.5m | |
| Other operating income | 74 | €35,796 | - | -€35,796 | |
| Operating charges | 60/66A | €806,339 | - | -€806,339 | |
| Goods for resale, raw materials and consumables | 60 | €256,809 | - | -€256,809 | |
| Purchases | 600/8 | €256,809 | - | -€256,809 | |
| Services and other goods | 61 | €149,411 | - | -€149,411 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €313,548 | €306,229 | -€7,320 | -2.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€10,000 | -€10,000 | |
| Other operating charges | 640/8 | €86,571 | €18,337 | -€68,235 | -78.8% |
| Gross operating margin | 9900 | - | €891,748 | +€891,748 | |
| Operating profit (loss) | 9901 | €729,302 | €577,182 | -€152,120 | -20.9% |
| Financial income | 75/76B | €0 | €61 | +€60 | +16,330% |
| Recurring financial income | 75 | €0 | €61 | +€60 | +16,330% |
| Income from current assets | 751 | €0 | - | = | |
| Other financial income | 752/9 | €0 | - | -€0 | |
| Financial charges | 65/66B | €260,523 | €170,765 | -€89,758 | -34.5% |
| Recurring financial charges | 65 | €260,523 | €170,765 | -€89,758 | -34.5% |
| Debt charges | 650 | €259,817 | - | -€259,817 | |
| Other financial charges | 652/9 | €706 | - | -€706 | |
| Profit (loss) for the period before taxes | 9903 | €468,780 | €406,478 | -€62,302 | -13.3% |
| Income taxes | 67/77 | €95,592 | €125,975 | +€30,383 | +31.8% |
| Taxes | 670/3 | €95,592 | - | -€95,592 | |
| Profit (loss) for the period | 9904 | €373,187 | €280,503 | -€92,684 | -24.8% |
| Profit (loss) for the period to be appropriated | 9905 | €373,187 | €280,503 | -€92,684 | -24.8% |
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.