RIGOLETTO: 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.
RIGOLETTO
Largest movements
- Cash -€45,947
down €45,947 (-25.7%), from €178,939 to €132,993
mainly Debts after one year (-€186,693) and Investment in fixed assets (net) (-€122,956)
- Stocks and contracts +€25,149
up €25,149 (+6.2%), from €406,146 to €431,296
- Deferred charges and accrued income -€21,358
down €21,358 (-51.0%), from €41,869 to €20,512
- Debts after one year -€186,693
down €186,693 (-14.9%), from €1.3m to €1.1m
of which Other amounts payable: -€105,000
- Profit (loss) carried forward +€108,315
up €108,315 (+52.0%), from -€208,494 to -€100,180
- Trade debts +€26,320
up €26,320 (+17.7%), from €148,436 to €174,757
- Current portion of long-term debt -€22,744
down €22,744 (-21.8%), from €104,437 to €81,693
- Gross operating margin +€212,164
up €212,164 (+19.4%), from €1.1m to €1.3m
- Staff costs +€38,392
up €38,392 (+4.1%), from €943,060 to €981,452
- Taxes +€27,033
up €27,033 (+3885.7%), from €696 to €27,728
- Depreciation +€15,208
up €15,208 (+12.6%), from €120,324 to €135,532
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 | €1,742,655 | €1,677,011 | -€65,644 | -3.8% |
| Fixed assets | 21/28 | €1,083,223 | €1,070,648 | -€12,576 | -1.2% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €1,083,223 | €1,070,648 | -€12,576 | -1.2% |
| Land and buildings | 22 | €749,726 | €730,634 | -€19,091 | -2.5% |
| Plant, machinery and equipment | 23 | €105,614 | €180,911 | +€75,297 | +71.3% |
| Furniture and vehicles | 24 | €47,122 | €31,944 | -€15,178 | -32.2% |
| Leasing and similar rights | 25 | €180,761 | €127,158 | -€53,603 | -29.7% |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Current assets | 29/58 | €659,432 | €606,363 | -€53,069 | -8.0% |
| Stocks and contracts in progress | 3 | €406,146 | €431,296 | +€25,149 | +6.2% |
| Stocks | 30/36 | €406,146 | €431,296 | +€25,149 | +6.2% |
| Amounts receivable within one year | 40/41 | €32,477 | €21,563 | -€10,914 | -33.6% |
| Trade receivables | 40 | €546 | - | -€546 | |
| Other amounts receivable | 41 | €31,930 | €21,563 | -€10,367 | -32.5% |
| Cash at bank and in hand | 54/58 | €178,939 | €132,993 | -€45,947 | -25.7% |
| Deferred charges and accrued income | 490/1 | €41,869 | €20,512 | -€21,358 | -51.0% |
| Total equity and liabilities | 10/49 | €1,742,655 | €1,677,011 | -€65,644 | -3.8% |
| Equity | 10/15 | €55,499 | €163,814 | +€108,315 | +195.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €245,394 | €245,394 | = | 0.0% |
| Distributable reserves | 133 | €245,394 | €245,394 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€208,494 | -€100,180 | +€108,315 | +52.0% |
| Amounts payable | 17/49 | €1,687,155 | €1,513,197 | -€173,959 | -10.3% |
| Amounts payable after more than one year | 17 | €1,253,332 | €1,066,639 | -€186,693 | -14.9% |
| Financial debts | 170/4 | €653,332 | €571,639 | -€81,693 | -12.5% |
| Other amounts payable | 178/9 | €600,000 | €495,000 | -€105,000 | -17.5% |
| Amounts payable within one year | 42/48 | €398,408 | €400,792 | +€2,384 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €104,437 | €81,693 | -€22,744 | -21.8% |
| Financial debts | 43 | €23,361 | €23,425 | +€65 | +0.3% |
| Credit institutions | 430/8 | €23,361 | €23,425 | +€65 | +0.3% |
| Trade debts | 44 | €148,436 | €174,757 | +€26,320 | +17.7% |
| Suppliers | 440/4 | €148,436 | €174,757 | +€26,320 | +17.7% |
| Advances received on contracts in progress | 46 | - | €1,038 | +€1,038 | |
| Taxes, remuneration and social security | 45 | €108,906 | €108,997 | +€92 | +0.1% |
| Taxes | 450/3 | €17,972 | €13,400 | -€4,572 | -25.4% |
| Remuneration and social security | 454/9 | €90,934 | €95,598 | +€4,664 | +5.1% |
| Other amounts payable | 47/48 | €13,268 | €10,882 | -€2,386 | -18.0% |
| Accrued charges and deferred income | 492/3 | €35,415 | €45,765 | +€10,350 | +29.2% |
| Non-recurring operating income | 76A | €32,000 | - | -€32,000 | |
| Remuneration, social security and pensions | 62 | €943,060 | €981,452 | +€38,392 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,324 | €135,532 | +€15,208 | +12.6% |
| Other operating charges | 640/8 | €5,068 | €14,009 | +€8,940 | +176.4% |
| Non-recurring operating charges | 66A | €5,872 | - | -€5,872 | |
| Gross operating margin | 9900 | €1,092,878 | €1,305,042 | +€212,164 | +19.4% |
| Operating profit (loss) | 9901 | €18,554 | €174,049 | +€155,495 | +838.1% |
| Financial income | 75/76B | €668 | €405 | -€263 | -39.4% |
| Recurring financial income | 75 | €668 | €405 | -€263 | -39.4% |
| Financial charges | 65/66B | €37,077 | €38,411 | +€1,334 | +3.6% |
| Recurring financial charges | 65 | €37,077 | €38,411 | +€1,334 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | -€17,856 | €136,043 | +€153,898 | |
| Income taxes | 67/77 | €696 | €27,728 | +€27,033 | +3885.7% |
| Profit (loss) for the period | 9904 | -€18,551 | €108,315 | +€126,866 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,551 | €108,315 | +€126,866 |
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 10 October 2026 via checked.be.