RICOEMA: 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.
RICOEMA
Largest movements
- Receivables within one year +€185,873
up €185,873 (+381%), from €48,788 to €234,662
of which Other amounts receivable: +€211,365
- Stocks and contracts +€43,508
up €43,508 (+59.9%), from €72,612 to €116,119
- Cash -€11,457
down €11,457 (-4.0%), from €288,393 to €276,936
mainly Receivables within one year (-€185,873) and Stocks and contracts (-€43,508)
- Trade debts +€96,873
up €96,873 (+71.6%), from €135,362 to €232,235
- Profit (loss) carried forward +€86,521
up €86,521 (+97.5%), from €88,748 to €175,268
- Tax, wage and social debts +€55,087
up €55,087 (+88.0%), from €62,606 to €117,693
of which Remuneration and social security: +€28,458
- Debts after one year -€18,909
down €18,909 (-30.2%), from €62,583 to €43,674
- Accrued charges and deferred income -€16,924
no longer reported in 2025 (was €16,924)
- Gross operating margin +€130,050
up €130,050 (+30.6%), from €424,439 to €554,489
- Staff costs +€104,418
up €104,418 (+37.4%), from €279,282 to €383,699
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 | €409,998 | €627,922 | +€217,924 | +53.2% |
| Fixed assets | 21/28 | €205 | €205 | = | 0.0% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €409,793 | €627,717 | +€217,924 | +53.2% |
| Stocks and contracts in progress | 3 | €72,612 | €116,119 | +€43,508 | +59.9% |
| Stocks | 30/36 | €72,612 | €116,119 | +€43,508 | +59.9% |
| Amounts receivable within one year | 40/41 | €48,788 | €234,662 | +€185,873 | +381% |
| Trade receivables | 40 | €40,377 | €14,885 | -€25,492 | -63.1% |
| Other amounts receivable | 41 | €8,412 | €219,777 | +€211,365 | +2,513% |
| Cash at bank and in hand | 54/58 | €288,393 | €276,936 | -€11,457 | -4.0% |
| Total equity and liabilities | 10/49 | €409,998 | €627,922 | +€217,924 | +53.2% |
| Equity | 10/15 | €93,748 | €180,268 | +€86,521 | +92.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,748 | €175,268 | +€86,521 | +97.5% |
| Amounts payable | 17/49 | €316,250 | €447,654 | +€131,403 | +41.6% |
| Amounts payable after more than one year | 17 | €62,583 | €43,674 | -€18,909 | -30.2% |
| Financial debts | 170/4 | €62,583 | €43,674 | -€18,909 | -30.2% |
| Amounts payable within one year | 42/48 | €236,743 | €403,980 | +€167,237 | +70.6% |
| Current portion of amounts payable after more than one year | 42 | €16,422 | €18,907 | +€2,485 | +15.1% |
| Trade debts | 44 | €135,362 | €232,235 | +€96,873 | +71.6% |
| Suppliers | 440/4 | €135,362 | €232,235 | +€96,873 | +71.6% |
| Taxes, remuneration and social security | 45 | €62,606 | €117,693 | +€55,087 | +88.0% |
| Taxes | 450/3 | €26,774 | €53,403 | +€26,629 | +99.5% |
| Remuneration and social security | 454/9 | €35,832 | €64,290 | +€28,458 | +79.4% |
| Other amounts payable | 47/48 | €22,354 | €35,144 | +€12,791 | +57.2% |
| Accrued charges and deferred income | 492/3 | €16,924 | - | -€16,924 | |
| Remuneration, social security and pensions | 62 | €279,282 | €383,699 | +€104,418 | +37.4% |
| Other operating charges | 640/8 | €1,379 | €2,282 | +€903 | +65.5% |
| Non-recurring operating charges | 66A | €22,419 | €48,000 | +€25,581 | +114% |
| Gross operating margin | 9900 | €424,439 | €554,489 | +€130,050 | +30.6% |
| Operating profit (loss) | 9901 | €121,359 | €120,508 | -€851 | -0.7% |
| Financial charges | 65/66B | €6,550 | €6,668 | +€118 | +1.8% |
| Recurring financial charges | 65 | €6,550 | €6,668 | +€118 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €114,810 | €113,840 | -€970 | -0.8% |
| Income taxes | 67/77 | €26,062 | €27,319 | +€1,258 | +4.8% |
| Profit (loss) for the period | 9904 | €88,748 | €86,521 | -€2,227 | -2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €88,748 | €86,521 | -€2,227 | -2.5% |
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 14 October 2026 via checked.be.