RIET STEVENS: 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.
RIET STEVENS
Largest movements
- Tangible fixed assets +€618,961
up €618,961 (+51.9%), from €1.2m to €1.8m
of which Other tangible fixed assets: +€486,248
- Current investments -€300,000
no longer reported in 2025 (was €300,000)
- Cash +€105,396
up €105,396 (+38.7%), from €272,206 to €377,602
mainly Current investments (+€300,000) and Debts after one year (+€186,116)
- Debts after one year +€186,116
up €186,116 (+22.0%), from €844,736 to €1.0m
- Other debts +€122,224
up €122,224 (+129%), from €94,663 to €216,888
- Reserves +€86,305
up €86,305 (+11.5%), from €748,363 to €834,668
of which Distributable reserves: +€88,200
- Gross operating margin +€43,755
up €43,755 (+12.0%), from €365,228 to €408,983
- Staff costs +€21,479
up €21,479 (+260%), from €8,250 to €29,729
- Depreciation +€13,454
up €13,454 (+21.4%), from €62,846 to €76,300
- Taxes +€4,601
up €4,601 (+5.6%), from €82,313 to €86,914
- Financial charges +€4,090
up €4,090 (+11.9%), from €34,234 to €38,324
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 | €1,802,938 | €2,216,484 | +€413,546 | +22.9% |
| Fixed assets | 21/28 | €1,192,115 | €1,811,076 | +€618,961 | +51.9% |
| Tangible fixed assets | 22/27 | €1,192,115 | €1,811,076 | +€618,961 | +51.9% |
| Land and buildings | 22 | €916,908 | €976,608 | +€59,700 | +6.5% |
| Plant, machinery and equipment | 23 | - | €2,217 | +€2,217 | |
| Furniture and vehicles | 24 | €6,574 | €77,370 | +€70,796 | +1,077% |
| Other tangible fixed assets | 26 | €268,633 | €754,881 | +€486,248 | +181% |
| Current assets | 29/58 | €610,823 | €405,408 | -€205,415 | -33.6% |
| Amounts receivable after more than one year | 29 | €3,292 | - | -€3,292 | |
| Other amounts receivable | 291 | €3,292 | - | -€3,292 | |
| Amounts receivable within one year | 40/41 | €32,365 | €24,961 | -€7,405 | -22.9% |
| Trade receivables | 40 | €28,014 | €12,188 | -€15,826 | -56.5% |
| Other amounts receivable | 41 | €4,352 | €12,772 | +€8,421 | +194% |
| Current investments | 50/53 | €300,000 | - | -€300,000 | |
| Cash at bank and in hand | 54/58 | €272,206 | €377,602 | +€105,396 | +38.7% |
| Deferred charges and accrued income | 490/1 | €2,959 | €2,845 | -€114 | -3.9% |
| Total equity and liabilities | 10/49 | €1,802,938 | €2,216,484 | +€413,546 | +22.9% |
| Equity | 10/15 | €760,934 | €847,239 | +€86,306 | +11.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €748,363 | €834,668 | +€86,305 | +11.5% |
| Tax-exempt reserves | 132 | €36,453 | €34,558 | -€1,895 | -5.2% |
| Distributable reserves | 133 | €711,910 | €800,110 | +€88,200 | +12.4% |
| Profit (loss) carried forward | 14 | €171 | €171 | +€1 | +0.4% |
| Provisions and deferred taxes | 16 | €12,151 | €11,519 | -€632 | -5.2% |
| Deferred taxes | 168 | €12,151 | €11,519 | -€632 | -5.2% |
| Amounts payable | 17/49 | €1,029,853 | €1,357,725 | +€327,872 | +31.8% |
| Amounts payable after more than one year | 17 | €844,736 | €1,030,852 | +€186,116 | +22.0% |
| Financial debts | 170/4 | €844,736 | €1,030,852 | +€186,116 | +22.0% |
| Amounts payable within one year | 42/48 | €180,183 | €319,376 | +€139,193 | +77.3% |
| Current portion of amounts payable after more than one year | 42 | €42,895 | €60,716 | +€17,821 | +41.5% |
| Financial debts | 43 | €5,113 | - | -€5,113 | |
| Credit institutions | 430/8 | €5,113 | - | -€5,113 | |
| Trade debts | 44 | €7,772 | €6,377 | -€1,395 | -18.0% |
| Suppliers | 440/4 | €7,772 | €6,377 | -€1,395 | -18.0% |
| Taxes, remuneration and social security | 45 | €29,740 | €35,396 | +€5,656 | +19.0% |
| Taxes | 450/3 | €28,473 | €30,215 | +€1,742 | +6.1% |
| Remuneration and social security | 454/9 | €1,267 | €5,180 | +€3,914 | +309% |
| Other amounts payable | 47/48 | €94,663 | €216,888 | +€122,224 | +129% |
| Accrued charges and deferred income | 492/3 | €4,934 | €7,497 | +€2,563 | +51.9% |
| Non-recurring operating income | 76A | - | €16,774 | +€16,774 | |
| Remuneration, social security and pensions | 62 | €8,250 | €29,729 | +€21,479 | +260% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,846 | €76,300 | +€13,454 | +21.4% |
| Other operating charges | 640/8 | €4,356 | €3,677 | -€679 | -15.6% |
| Gross operating margin | 9900 | €365,228 | €408,983 | +€43,755 | +12.0% |
| Operating profit (loss) | 9901 | €289,775 | €299,277 | +€9,502 | +3.3% |
| Financial income | 75/76B | €6,264 | €9,435 | +€3,171 | +50.6% |
| Recurring financial income | 75 | €6,264 | €9,435 | +€3,171 | +50.6% |
| Financial charges | 65/66B | €34,234 | €38,324 | +€4,090 | +11.9% |
| Recurring financial charges | 65 | €34,234 | €38,324 | +€4,090 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €261,806 | €270,389 | +€8,583 | +3.3% |
| Transfer from deferred taxes | 780 | €632 | €632 | = | 0.0% |
| Income taxes | 67/77 | €82,313 | €86,914 | +€4,601 | +5.6% |
| Profit (loss) for the period | 9904 | €180,124 | €184,106 | +€3,982 | +2.2% |
| Transfer from tax-exempt reserves | 789 | €1,895 | €1,895 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €182,019 | €186,001 | +€3,982 | +2.2% |
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 21 October 2026 via checked.be.