RING STATION RIVER: 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.
What changed
RING STATION RIVER
NACE 68.122, Development of non-residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€215,561
2024 · -€352,151+€136,590
Equity
€658,844
2024 · €874,405-€215,561
Cash
€6,181
2024 · €58,249-€52,068
Balance sheet total
€10.2m
2024 · €10.3m-€76,624
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Other debts +€313,064
up €313,064 (+4.3%), from €7.3m to €7.6m
- Profit (loss) carried forward -€215,561
down €215,561 (-32.2%), from -€670,364 to -€885,925
- Debts after one year -€127,411
down €127,411 (-6.8%), from €1.9m to €1.7m
of which Financial debts: -€125,441
Income statement
- Financial charges -€65,209
down €65,209 (-16.4%), from €397,973 to €332,764
- Gross operating margin +€48,422
up €48,422 (+28.7%), from €168,491 to €216,913
- Depreciation -€22,845
down €22,845 (-18.9%), from €121,181 to €98,336
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.
Result 2024
-€352,151
Gross operating margin
+€48,422
Depreciation
+€22,845
Other operating charges
+€113
Financial charges
+€65,209
Result 2025
-€215,561
raises the result
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.
From operations
+€71,136
Investment
€0
Financing
-€123,204
Cash 2024
€58,249
From operations (derived)
+€71,136
Net result for the year
-€215,561
Depreciation
+€98,336
Stocks and contracts
-€31,234
Receivables within one year
-€51,367
Deferred charges and accrued income
+€8,820
Trade debts
-€36,338
Tax, wage and social debts
-€1,966
Other debts
+€313,064
Accrued charges and deferred income
-€12,619
Financing
-€123,204
Debts after one year
-€127,411
Current portion of long-term debt
+€4,207
Cash 2025
€6,181
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,313,577 | €10,236,954 | -€76,624 | -0.7% |
| Fixed assets | 21/28 | €10,133,596 | €10,035,260 | -€98,336 | -1.0% |
| Tangible fixed assets | 22/27 | €3,614,046 | €3,515,710 | -€98,336 | -2.7% |
| Land and buildings | 22 | €895,950 | €830,362 | -€65,588 | -7.3% |
| Leasing and similar rights | 25 | €2,718,096 | €2,685,347 | -€32,748 | -1.2% |
| Financial fixed assets | 28 | €6,519,551 | €6,519,551 | = | 0.0% |
| Current assets | 29/58 | €179,981 | €201,693 | +€21,712 | +12.1% |
| Stocks and contracts in progress | 3 | €90,846 | €122,080 | +€31,234 | +34.4% |
| Stocks | 30/36 | €90,846 | €122,080 | +€31,234 | +34.4% |
| Amounts receivable within one year | 40/41 | €14,020 | €65,386 | +€51,367 | +366% |
| Trade receivables | 40 | €14,020 | €65,386 | +€51,367 | +366% |
| Cash at bank and in hand | 54/58 | €58,249 | €6,181 | -€52,068 | -89.4% |
| Deferred charges and accrued income | 490/1 | €16,867 | €8,047 | -€8,820 | -52.3% |
| Total equity and liabilities | 10/49 | €10,313,577 | €10,236,954 | -€76,624 | -0.7% |
| Equity | 10/15 | €874,405 | €658,844 | -€215,561 | -24.7% |
| Contributions | 10/11 | €1,540,000 | €1,540,000 | = | 0.0% |
| Capital | 10 | €1,540,000 | €1,540,000 | = | 0.0% |
| Issued capital | 100 | €1,540,000 | €1,540,000 | = | 0.0% |
| Reserves | 13 | €4,769 | €4,769 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,769 | €4,769 | = | 0.0% |
| Legal reserve | 130 | €4,769 | €4,769 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€670,364 | -€885,925 | -€215,561 | -32.2% |
| Amounts payable | 17/49 | €9,439,172 | €9,578,109 | +€138,937 | +1.5% |
| Amounts payable after more than one year | 17 | €1,864,324 | €1,736,913 | -€127,411 | -6.8% |
| Financial debts | 170/4 | €1,841,686 | €1,716,244 | -€125,441 | -6.8% |
| Other amounts payable | 178/9 | €22,639 | €20,669 | -€1,970 | -8.7% |
| Amounts payable within one year | 42/48 | €7,446,182 | €7,725,149 | +€278,967 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €121,234 | €125,441 | +€4,207 | +3.5% |
| Trade debts | 44 | €56,698 | €20,360 | -€36,338 | -64.1% |
| Suppliers | 440/4 | €56,698 | €20,360 | -€36,338 | -64.1% |
| Taxes, remuneration and social security | 45 | €4,031 | €2,065 | -€1,966 | -48.8% |
| Taxes | 450/3 | €4,031 | €2,065 | -€1,966 | -48.8% |
| Other amounts payable | 47/48 | €7,264,218 | €7,577,283 | +€313,064 | +4.3% |
| Accrued charges and deferred income | 492/3 | €128,666 | €116,047 | -€12,619 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,181 | €98,336 | -€22,845 | -18.9% |
| Other operating charges | 640/8 | €1,488 | €1,375 | -€113 | -7.6% |
| Gross operating margin | 9900 | €168,491 | €216,913 | +€48,422 | +28.7% |
| Operating profit (loss) | 9901 | €45,822 | €117,203 | +€71,381 | +156% |
| Financial charges | 65/66B | €397,973 | €332,764 | -€65,209 | -16.4% |
| Recurring financial charges | 65 | €397,973 | €332,764 | -€65,209 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | -€352,151 | -€215,561 | +€136,590 | +38.8% |
| Profit (loss) for the period | 9904 | -€352,151 | -€215,561 | +€136,590 | +38.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€352,151 | -€215,561 | +€136,590 | +38.8% |
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 29 October 2026 via checked.be.