RINGVAART: 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.
RINGVAART
Largest movements
- Tangible fixed assets +€451,586
up €451,586 (+81.7%), from €552,504 to €1.0m
- Cash -€38,977
down €38,977 (-28.7%), from €136,026 to €97,049
mainly Investment in fixed assets (net) (-€511,636) and Other debts (-€90,261)
- Receivables within one year +€15,248
up €15,248 (+96.8%), from €15,758 to €31,006
of which Trade receivables: +€14,321
- Debts after one year +€560,000
new in 2025: €560,000
- Other debts -€90,261
down €90,261 (-15.0%), from €602,155 to €511,894
- Profit (loss) carried forward -€41,356
down €41,356 (-8.0%), from -€514,942 to -€556,298
- Accrued charges and deferred income +€16,754
new in 2025: €16,754
- Depreciation +€42,658
up €42,658 (+569%), from €7,496 to €50,154
- Financial charges +€16,890
up €16,890 (+12,742%), from €133 to €17,023
- Gross operating margin +€1,886
up €1,886 (+7.7%), from €24,553 to €26,438
- Other operating charges +€640
up €640 (+105%), from €611 to €1,250
- Financial income +€601
up €601 (+1,861%), from €32 to €633
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €704,288 | €1,152,588 | +€448,300 | +63.7% |
| Fixed assets | 21/28 | €552,504 | €1,013,986 | +€461,482 | +83.5% |
| Intangible fixed assets | 21 | - | €9,897 | +€9,897 | |
| Tangible fixed assets | 22/27 | €552,504 | €1,004,090 | +€451,586 | +81.7% |
| Land and buildings | 22 | €552,504 | €1,004,090 | +€451,586 | +81.7% |
| Current assets | 29/58 | €151,784 | €138,602 | -€13,182 | -8.7% |
| Stocks and contracts in progress | 3 | - | €8,720 | +€8,720 | |
| Stocks | 30/36 | - | €8,720 | +€8,720 | |
| Amounts receivable within one year | 40/41 | €15,758 | €31,006 | +€15,248 | +96.8% |
| Trade receivables | 40 | €12,273 | €26,594 | +€14,321 | +117% |
| Other amounts receivable | 41 | €3,484 | €4,412 | +€927 | +26.6% |
| Cash at bank and in hand | 54/58 | €136,026 | €97,049 | -€38,977 | -28.7% |
| Deferred charges and accrued income | 490/1 | - | €1,827 | +€1,827 | |
| Total equity and liabilities | 10/49 | €704,288 | €1,152,588 | +€448,300 | +63.7% |
| Equity | 10/15 | €101,041 | €59,685 | -€41,356 | -40.9% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €15,983 | €15,983 | = | 0.0% |
| Distributable reserves | 133 | €15,983 | €15,983 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€514,942 | -€556,298 | -€41,356 | -8.0% |
| Amounts payable | 17/49 | €603,247 | €1,092,903 | +€489,656 | +81.2% |
| Amounts payable after more than one year | 17 | - | €560,000 | +€560,000 | |
| Financial debts | 170/4 | - | €560,000 | +€560,000 | |
| Amounts payable within one year | 42/48 | €603,247 | €516,149 | -€87,098 | -14.4% |
| Trade debts | 44 | €990 | €3,885 | +€2,895 | +293% |
| Suppliers | 440/4 | €990 | €3,885 | +€2,895 | +293% |
| Taxes, remuneration and social security | 45 | €102 | €371 | +€268 | +262% |
| Taxes | 450/3 | €102 | €371 | +€268 | +262% |
| Other amounts payable | 47/48 | €602,155 | €511,894 | -€90,261 | -15.0% |
| Accrued charges and deferred income | 492/3 | - | €16,754 | +€16,754 | |
| Non-recurring operating income | 76A | €26,500 | - | -€26,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,496 | €50,154 | +€42,658 | +569% |
| Other operating charges | 640/8 | €611 | €1,250 | +€640 | +105% |
| Non-recurring operating charges | 66A | €16,406 | - | -€16,406 | |
| Gross operating margin | 9900 | €24,553 | €26,438 | +€1,886 | +7.7% |
| Operating profit (loss) | 9901 | €40 | -€24,966 | -€25,006 | |
| Financial income | 75/76B | €32 | €633 | +€601 | +1,861% |
| Recurring financial income | 75 | €32 | €633 | +€601 | +1,861% |
| Financial charges | 65/66B | €133 | €17,023 | +€16,890 | +12,742% |
| Recurring financial charges | 65 | €133 | €17,023 | +€16,890 | +12,742% |
| Profit (loss) for the period before taxes | 9903 | -€60 | -€41,356 | -€41,296 | -68,291% |
| Income taxes | 67/77 | €137 | - | -€137 | |
| Profit (loss) for the period | 9904 | -€198 | -€41,356 | -€41,158 | -20,803% |
| Profit (loss) for the period to be appropriated | 9905 | -€198 | -€41,356 | -€41,158 | -20,803% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.