RIETGAARD-DE WOLK: 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.
RIETGAARD-DE WOLK
Largest movements
- Tangible fixed assets -€12,128
down €12,128 (-7.5%), from €161,728 to €149,600
of which Land and buildings: -€8,800
- Receivables within one year -€4,538
down €4,538 (-66.4%), from €6,837 to €2,299
of which Trade receivables: -€3,081
- Cash +€4,240
up €4,240 (+76.5%), from €5,540 to €9,780
mainly Depreciation (+€8,800) and Receivables within one year (+€4,538)
- Other debts -€15,349
down €15,349 (-48.2%), from €31,824 to €16,475
- Reserves +€1,910
up €1,910 (+14.7%), from €13,023 to €14,933
of which Distributable reserves: +€1,910
- Turnover -€10,970
no longer reported in 2025 (was €10,970)
- Purchases and services -€5,065
down €5,065 (-53.0%), from €9,559 to €4,494
- Gross operating margin -€4,905
down €4,905 (-23.1%), from €21,211 to €16,306
- Depreciation -€4,793
down €4,793 (-35.3%), from €13,593 to €8,800
- Financial charges +€2,628
up €2,628 (+1,877%), from €140 to €2,768
of which Non-recurring financial charges: +€2,723
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 | €175,376 | €162,049 | -€13,327 | -7.6% |
| Fixed assets | 21/28 | €161,728 | €149,600 | -€12,128 | -7.5% |
| Tangible fixed assets | 22/27 | €161,728 | €149,600 | -€12,128 | -7.5% |
| Land and buildings | 22 | €158,400 | €149,600 | -€8,800 | -5.6% |
| Furniture and vehicles | 24 | €3,328 | - | -€3,328 | |
| Current assets | 29/58 | €13,648 | €12,449 | -€1,199 | -8.8% |
| Amounts receivable within one year | 40/41 | €6,837 | €2,299 | -€4,538 | -66.4% |
| Trade receivables | 40 | €5,380 | €2,299 | -€3,081 | -57.3% |
| Other amounts receivable | 41 | €1,457 | - | -€1,457 | |
| Cash at bank and in hand | 54/58 | €5,540 | €9,780 | +€4,240 | +76.5% |
| Deferred charges and accrued income | 490/1 | €1,271 | €370 | -€901 | -70.9% |
| Total equity and liabilities | 10/49 | €175,376 | €162,049 | -€13,327 | -7.6% |
| Equity | 10/15 | €142,076 | €143,986 | +€1,910 | +1.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,023 | €14,933 | +€1,910 | +14.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,285 | €6,285 | = | 0.0% |
| Distributable reserves | 133 | €4,878 | €6,788 | +€1,910 | +39.2% |
| Profit (loss) carried forward | 14 | €110,453 | €110,453 | = | 0.0% |
| Amounts payable | 17/49 | €33,300 | €18,063 | -€15,237 | -45.8% |
| Amounts payable within one year | 42/48 | €33,300 | €18,063 | -€15,237 | -45.8% |
| Trade debts | 44 | €988 | €909 | -€79 | -8.0% |
| Suppliers | 440/4 | €988 | €909 | -€79 | -8.0% |
| Taxes, remuneration and social security | 45 | €488 | €679 | +€191 | +39.1% |
| Taxes | 450/3 | €488 | €679 | +€191 | +39.1% |
| Other amounts payable | 47/48 | €31,824 | €16,475 | -€15,349 | -48.2% |
| Turnover | 70 | €10,970 | - | -€10,970 | |
| Goods, raw materials, services and sundry goods | 60/61 | €9,559 | €4,494 | -€5,065 | -53.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,593 | €8,800 | -€4,793 | -35.3% |
| Other operating charges | 640/8 | €2,112 | €2,640 | +€528 | +25.0% |
| Gross operating margin | 9900 | €21,211 | €16,306 | -€4,905 | -23.1% |
| Operating profit (loss) | 9901 | €5,506 | €4,866 | -€640 | -11.6% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €140 | €2,768 | +€2,628 | +1,877% |
| Recurring financial charges | 65 | €140 | €45 | -€95 | -67.9% |
| Non-recurring financial charges | 66B | - | €2,723 | +€2,723 | |
| Profit (loss) for the period before taxes | 9903 | €5,366 | €2,101 | -€3,265 | -60.8% |
| Income taxes | 67/77 | €488 | €191 | -€297 | -60.9% |
| Profit (loss) for the period | 9904 | €4,878 | €1,910 | -€2,968 | -60.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,878 | €1,910 | -€2,968 | -60.8% |
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 20 October 2026 via checked.be.