RIOSA: 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.
RIOSA
Largest movements
- Cash +€93,598
up €93,598 (+263%), from €35,654 to €129,252
- Tangible fixed assets -€21,128
down €21,128 (-6.6%), from €318,115 to €296,987
of which Land and buildings: -€31,105
- Reserves +€122,200
up €122,200 (+172%), from €71,049 to €193,249
of which Distributable reserves: +€122,200
- Debts after one year -€55,738
down €55,738 (-47.1%), from €118,426 to €62,688
- Tax, wage and social debts +€18,614
up €18,614 (+6,624%), from €281 to €18,895
of which Taxes: +€18,895
- Accrued charges and deferred income -€8,584
no longer reported in 2025 (was €8,584)
- Gross operating margin +€114,242
up €114,242 (+243%), from €47,080 to €161,322
- Taxes +€33,926
up €33,926 (+436%), from €7,781 to €41,707
From the 2023 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
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 | €355,876 | €431,522 | +€75,646 | +21.3% |
| Fixed assets | 21/28 | €318,115 | €296,987 | -€21,128 | -6.6% |
| Tangible fixed assets | 22/27 | €318,115 | €296,987 | -€21,128 | -6.6% |
| Land and buildings | 22 | €318,115 | €287,010 | -€31,105 | -9.8% |
| Plant, machinery and equipment | 23 | - | €9,977 | +€9,977 | |
| Current assets | 29/58 | €37,761 | €134,535 | +€96,774 | +256% |
| Amounts receivable within one year | 40/41 | €2,107 | €5,283 | +€3,176 | +151% |
| Trade receivables | 40 | €2,107 | €4,179 | +€2,072 | +98.3% |
| Other amounts receivable | 41 | - | €1,104 | +€1,104 | |
| Cash at bank and in hand | 54/58 | €35,654 | €129,252 | +€93,598 | +263% |
| Total equity and liabilities | 10/49 | €355,876 | €431,522 | +€75,646 | +21.3% |
| Equity | 10/15 | €197,864 | €321,022 | +€123,158 | +62.2% |
| Contributions | 10/11 | €126,400 | €126,400 | -€0 | 0.0% |
| Capital | 10 | €126,400 | - | -€126,400 | |
| Issued capital | 100 | €126,400 | - | -€126,400 | |
| Contributions outside capital | 11 | - | €126,400 | +€126,400 | |
| Other | 1109/19 | - | €126,400 | +€126,400 | |
| Reserves | 13 | €71,049 | €193,249 | +€122,200 | +172% |
| Non-distributable reserves | 130/1 | €49 | €49 | -€0 | -0.6% |
| Reserves not available under the articles | 1311 | €23 | €49 | +€26 | +112% |
| Other | 1319 | €26 | - | -€26 | |
| Distributable reserves | 133 | €71,000 | €193,200 | +€122,200 | +172% |
| Profit (loss) carried forward | 14 | €415 | €1,373 | +€958 | +231% |
| Amounts payable | 17/49 | €158,012 | €110,500 | -€47,512 | -30.1% |
| Amounts payable after more than one year | 17 | €118,426 | €62,688 | -€55,738 | -47.1% |
| Financial debts | 170/4 | €118,426 | €62,688 | -€55,738 | -47.1% |
| Amounts payable within one year | 42/48 | €31,002 | €47,812 | +€16,810 | +54.2% |
| Current portion of amounts payable after more than one year | 42 | €27,126 | €28,120 | +€994 | +3.7% |
| Trade debts | 44 | - | €797 | +€797 | |
| Suppliers | 440/4 | - | €797 | +€797 | |
| Taxes, remuneration and social security | 45 | €281 | €18,895 | +€18,614 | +6,624% |
| Taxes | 450/3 | - | €18,895 | +€18,895 | |
| Remuneration and social security | 454/9 | €281 | - | -€281 | |
| Other amounts payable | 47/48 | €3,595 | - | -€3,595 | |
| Accrued charges and deferred income | 492/3 | €8,584 | - | -€8,584 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,563 | €10,565 | +€2 | 0.0% |
| Other operating charges | 640/8 | €2,283 | €2,769 | +€486 | +21.3% |
| Gross operating margin | 9900 | €47,080 | €161,322 | +€114,242 | +243% |
| Operating profit (loss) | 9901 | €34,234 | €147,987 | +€113,753 | +332% |
| Financial charges | 65/66B | €2,953 | €2,360 | -€593 | -20.1% |
| Recurring financial charges | 65 | €2,953 | €2,360 | -€593 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €31,281 | €145,627 | +€114,346 | +366% |
| Income taxes | 67/77 | €7,781 | €41,707 | +€33,926 | +436% |
| Profit (loss) for the period | 9904 | €23,500 | €103,920 | +€80,420 | +342% |
| Profit (loss) for the period to be appropriated | 9905 | €23,500 | €103,920 | +€80,420 | +342% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.