RING - O - THERM: what changed
RING - O - THERM
Largest movements
- Tangible fixed assets -€16,352
down €16,352 (-56.4%), from €29,016 to €12,663
of which Plant, machinery and equipment: -€16,352
- Other debts +€27,504
up €27,504 (+11.8%), from €232,489 to €259,993
- Profit (loss) carried forward -€16,369
down €16,369 (-9.7%), from -€167,951 to -€184,321
- Current portion of long-term debt -€14,703
down €14,703 (-89.5%), from €16,421 to €1,718
- Debts after one year -€12,816
no longer reported in 2025 (was €12,816)
- Depreciation -€5,745
down €5,745 (-52.4%), from €10,971 to €5,226
- Gross operating margin +€3,028
up €3,028, from -€1,443 to €1,585
- Financial charges -€1,929
down €1,929 (-84.3%), from €2,287 to €358
- Other operating charges +€321
up €321 (+83.9%), from €383 to €705
Change in the result, 2023 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €112,830 | €96,426 | -€16,404 | -14.5% |
| Fixed assets | 21/28 | €30,369 | €14,017 | -€16,352 | -53.8% |
| Tangible fixed assets | 22/27 | €29,016 | €12,663 | -€16,352 | -56.4% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €16,878 | €526 | -€16,352 | -96.9% |
| Furniture and vehicles | 24 | €12,138 | €12,138 | = | 0.0% |
| Financial fixed assets | 28 | €1,354 | €1,354 | = | 0.0% |
| Current assets | 29/58 | €82,461 | €82,409 | -€51 | -0.1% |
| Amounts receivable within one year | 40/41 | €82,461 | €82,409 | -€51 | -0.1% |
| Trade receivables | 40 | €81,912 | €81,912 | = | 0.0% |
| Other amounts receivable | 41 | €548 | €497 | -€51 | -9.3% |
| Cash at bank and in hand | 54/58 | €0 | €0 | = | |
| Total equity and liabilities | 10/49 | €112,830 | €96,426 | -€16,404 | -14.5% |
| Equity | 10/15 | -€153,488 | -€169,858 | -€16,369 | -10.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,063 | €2,063 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €204 | €204 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€167,951 | -€184,321 | -€16,369 | -9.7% |
| Amounts payable | 17/49 | €266,318 | €266,284 | -€34 | 0.0% |
| Amounts payable after more than one year | 17 | €12,816 | - | -€12,816 | |
| Financial debts | 170/4 | €12,816 | - | -€12,816 | |
| Amounts payable within one year | 42/48 | €253,502 | €266,284 | +€12,782 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €16,421 | €1,718 | -€14,703 | -89.5% |
| Financial debts | 43 | €2,588 | €2,972 | +€384 | +14.8% |
| Credit institutions | 430/8 | €2,588 | €2,972 | +€384 | +14.8% |
| Trade debts | 44 | €1,998 | €1,601 | -€397 | -19.9% |
| Suppliers | 440/4 | €1,998 | €1,601 | -€397 | -19.9% |
| Taxes, remuneration and social security | 45 | €6 | €0 | -€6 | -100% |
| Taxes | 450/3 | €6 | €0 | -€6 | -100% |
| Other amounts payable | 47/48 | €232,489 | €259,993 | +€27,504 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,971 | €5,226 | -€5,745 | -52.4% |
| Other operating charges | 640/8 | €383 | €705 | +€321 | +83.9% |
| Gross operating margin | 9900 | -€1,443 | €1,585 | +€3,028 | |
| Operating profit (loss) | 9901 | -€12,797 | -€4,346 | +€8,452 | +66.0% |
| Financial charges | 65/66B | €2,287 | €358 | -€1,929 | -84.3% |
| Recurring financial charges | 65 | €2,287 | €358 | -€1,929 | -84.3% |
| Profit (loss) for the period before taxes | 9903 | -€15,085 | -€4,704 | +€10,381 | +68.8% |
| Profit (loss) for the period | 9904 | -€15,085 | -€4,704 | +€10,381 | +68.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,085 | -€4,704 | +€10,381 | +68.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.