RIKOR: what changed
Two fiscal 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.
RIKOR
Largest movements
- Stocks and contracts -€590,053
down €590,053 (-44.4%), from €1.3m to €740,270
- Cash +€578,838
up €578,838 (+197.1%), from €293,604 to €872,442
mainly Other debts (+€1.4m) and Net result for the year (+€772,318)
- Tangible fixed assets +€538,658
up €538,658 (+185.4%), from €290,587 to €829,245
of which Land and buildings: +€606,304
- Financial fixed assets +€160,000
up €160,000 (+37891.3%), from €422 to €160,422
- Receivables within one year -€147,568
down €147,568 (-16.9%), from €871,701 to €724,133
of which Other amounts receivable: -€257,164
- Other debts +€1.4m
up €1.4m (+3101.3%), from €46,470 to €1.5m
- Trade debts -€920,730
down €920,730 (-60.0%), from €1.5m to €614,047
- Reserves -€802,682
down €802,682 (-70.6%), from €1.1m to €334,660
- Debts after one year +€684,676
new in 2025: €684,676
- Tax, wage and social debts +€123,822
up €123,822 (+118.5%), from €104,500 to €228,322
- Gross operating margin +€311,806
up €311,806 (+38.3%), from €814,383 to €1.1m
- Taxes +€46,744
up €46,744 (+24.2%), from €193,081 to €239,825
- Depreciation +€35,533
up €35,533 (+73.6%), from €48,252 to €83,785
- Financial charges +€25,598
up €25,598 (+472.0%), from €5,423 to €31,021
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 | €2,841,638 | €3,374,635 | +€532,997 | +18.8% |
| Fixed assets | 21/28 | €291,009 | €989,667 | +€698,658 | +240.1% |
| Tangible fixed assets | 22/27 | €290,587 | €829,245 | +€538,658 | +185.4% |
| Land and buildings | 22 | €789 | €607,093 | +€606,304 | +76846.6% |
| Plant, machinery and equipment | 23 | €10,756 | €5,871 | -€4,884 | -45.4% |
| Furniture and vehicles | 24 | €232,203 | €176,549 | -€55,654 | -24.0% |
| Other tangible fixed assets | 26 | €46,840 | €39,731 | -€7,108 | -15.2% |
| Financial fixed assets | 28 | €422 | €160,422 | +€160,000 | +37891.3% |
| Current assets | 29/58 | €2,550,629 | €2,384,968 | -€165,661 | -6.5% |
| Amounts receivable after more than one year | 29 | €55,000 | €45,000 | -€10,000 | -18.2% |
| Trade receivables | 290 | - | €45,000 | +€45,000 | |
| Other amounts receivable | 291 | €55,000 | - | -€55,000 | |
| Stocks and contracts in progress | 3 | €1,330,323 | €740,270 | -€590,053 | -44.4% |
| Stocks | 30/36 | €1,330,323 | €740,270 | -€590,053 | -44.4% |
| Amounts receivable within one year | 40/41 | €871,701 | €724,133 | -€147,568 | -16.9% |
| Trade receivables | 40 | €614,499 | €724,095 | +€109,596 | +17.8% |
| Other amounts receivable | 41 | €257,202 | €38 | -€257,164 | -100.0% |
| Cash at bank and in hand | 54/58 | €293,604 | €872,442 | +€578,838 | +197.1% |
| Deferred charges and accrued income | 490/1 | - | €3,123 | +€3,123 | |
| Total equity and liabilities | 10/49 | €2,841,638 | €3,374,635 | +€532,997 | +18.8% |
| Equity | 10/15 | €1,155,892 | €353,210 | -€802,682 | -69.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,137,342 | €334,660 | -€802,682 | -70.6% |
| Distributable reserves | 133 | €1,137,342 | €334,660 | -€802,682 | -70.6% |
| Amounts payable | 17/49 | €1,685,746 | €3,021,425 | +€1.3m | +79.2% |
| Amounts payable after more than one year | 17 | - | €684,676 | +€684,676 | |
| Financial debts | 170/4 | - | €684,676 | +€684,676 | |
| Amounts payable within one year | 42/48 | €1,685,746 | €2,336,749 | +€651,003 | +38.6% |
| Financial debts | 43 | - | €6,722 | +€6,722 | |
| Credit institutions | 430/8 | - | €6,722 | +€6,722 | |
| Trade debts | 44 | €1,534,776 | €614,047 | -€920,730 | -60.0% |
| Suppliers | 440/4 | €1,534,776 | €614,047 | -€920,730 | -60.0% |
| Taxes, remuneration and social security | 45 | €104,500 | €228,322 | +€123,822 | +118.5% |
| Taxes | 450/3 | €104,500 | €228,322 | +€123,822 | +118.5% |
| Other amounts payable | 47/48 | €46,470 | €1,487,658 | +€1.4m | +3101.3% |
| Non-recurring operating income | 76A | €16,800 | - | -€16,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,252 | €83,785 | +€35,533 | +73.6% |
| Other operating charges | 640/8 | €2,137 | €2,176 | +€39 | +1.8% |
| Gross operating margin | 9900 | €814,383 | €1,126,189 | +€311,806 | +38.3% |
| Operating profit (loss) | 9901 | €763,994 | €1,040,227 | +€276,233 | +36.2% |
| Financial income | 75/76B | €11,689 | €2,937 | -€8,752 | -74.9% |
| Recurring financial income | 75 | €11,689 | €2,937 | -€8,752 | -74.9% |
| Financial charges | 65/66B | €5,423 | €31,021 | +€25,598 | +472.0% |
| Recurring financial charges | 65 | €5,423 | €31,021 | +€25,598 | +472.0% |
| Profit (loss) for the period before taxes | 9903 | €770,260 | €1,012,143 | +€241,883 | +31.4% |
| Income taxes | 67/77 | €193,081 | €239,825 | +€46,744 | +24.2% |
| Profit (loss) for the period | 9904 | €577,179 | €772,318 | +€195,139 | +33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €577,179 | €772,318 | +€195,139 | +33.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.