RING WAY: 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.
RING WAY
Largest movements
- Stocks and contracts -€18,801
down €18,801 (-96.0%), from €19,588 to €787
- Tangible fixed assets +€1,810
up €1,810 (+481.1%), from €376 to €2,186
- Cash -€1,730
down €1,730 (-99.6%), from €1,736 to €7
mainly Tax, wage and social debts (-€8,567) and Net result for the year (-€7,147)
- Receivables within one year +€969
up €969 (+30.9%), from €3,141 to €4,111
of which Trade receivables: +€537
- Tax, wage and social debts -€8,567
down €8,567 (-64.1%), from €13,375 to €4,808
of which Remuneration and social security: -€6,315
- Profit (loss) carried forward -€7,147
down €7,147 (-60.6%), from -€11,792 to -€18,939
- Current portion of long-term debt -€1,417
no longer reported in 2025 (was €1,417)
- Trade debts -€783
down €783 (-47.7%), from €1,642 to €859
- Turnover +€17,461
up €17,461 (+8.4%), from €207,882 to €225,343
- Gross operating margin +€13,144
up €13,144, from -€11,779 to €1,364
- Purchases and services +€4,536
up €4,536 (+2.0%), from €225,417 to €229,953
- Depreciation +€2,898
up €2,898 (+1402.7%), from €207 to €3,105
- Taxes -€2,539
down €2,539 (-81.3%), from €3,122 to €583
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 | €25,102 | €7,228 | -€17,874 | -71.2% |
| Fixed assets | 21/28 | €376 | €2,186 | +€1,810 | +481.1% |
| Tangible fixed assets | 22/27 | €376 | €2,186 | +€1,810 | +481.1% |
| Furniture and vehicles | 24 | €376 | €2,186 | +€1,810 | +481.1% |
| Current assets | 29/58 | €24,726 | €5,042 | -€19,684 | -79.6% |
| Stocks and contracts in progress | 3 | €19,588 | €787 | -€18,801 | -96.0% |
| Stocks | 30/36 | €19,588 | €787 | -€18,801 | -96.0% |
| Amounts receivable within one year | 40/41 | €3,141 | €4,111 | +€969 | +30.9% |
| Trade receivables | 40 | - | €537 | +€537 | |
| Other amounts receivable | 41 | €3,141 | €3,573 | +€432 | +13.8% |
| Cash at bank and in hand | 54/58 | €1,736 | €7 | -€1,730 | -99.6% |
| Deferred charges and accrued income | 490/1 | €260 | €137 | -€123 | -47.3% |
| Total equity and liabilities | 10/49 | €25,102 | €7,228 | -€17,874 | -71.2% |
| Equity | 10/15 | €8,668 | €1,521 | -€7,147 | -82.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,792 | -€18,939 | -€7,147 | -60.6% |
| Amounts payable | 17/49 | €16,434 | €5,707 | -€10,727 | -65.3% |
| Amounts payable within one year | 42/48 | €16,434 | €5,707 | -€10,727 | -65.3% |
| Current portion of amounts payable after more than one year | 42 | €1,417 | - | -€1,417 | |
| Trade debts | 44 | €1,642 | €859 | -€783 | -47.7% |
| Suppliers | 440/4 | €1,642 | €859 | -€783 | -47.7% |
| Taxes, remuneration and social security | 45 | €13,375 | €4,808 | -€8,567 | -64.1% |
| Taxes | 450/3 | €2,535 | €284 | -€2,252 | -88.8% |
| Remuneration and social security | 454/9 | €10,840 | €4,524 | -€6,315 | -58.3% |
| Other amounts payable | 47/48 | - | €40 | +€40 | |
| Turnover | 70 | €207,882 | €225,343 | +€17,461 | +8.4% |
| Non-recurring operating income | 76A | - | €122 | +€122 | |
| Goods, raw materials, services and sundry goods | 60/61 | €225,417 | €229,953 | +€4,536 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €207 | €3,105 | +€2,898 | +1402.7% |
| Other operating charges | 640/8 | €4,989 | €2,725 | -€2,264 | -45.4% |
| Gross operating margin | 9900 | -€11,779 | €1,364 | +€13,144 | |
| Operating profit (loss) | 9901 | -€16,975 | -€4,466 | +€12,509 | +73.7% |
| Financial charges | 65/66B | €453 | €2,098 | +€1,645 | +363.1% |
| Recurring financial charges | 65 | €453 | €2,098 | +€1,645 | +363.1% |
| Profit (loss) for the period before taxes | 9903 | -€17,428 | -€6,564 | +€10,864 | +62.3% |
| Income taxes | 67/77 | €3,122 | €583 | -€2,539 | -81.3% |
| Profit (loss) for the period | 9904 | -€20,550 | -€7,147 | +€13,403 | +65.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,550 | -€7,147 | +€13,403 | +65.2% |
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 4 October 2026 via checked.be.