RIPACO: 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.
RIPACO
Largest movements
- Tangible fixed assets -€37,022
down €37,022 (-7.8%), from €476,191 to €439,169
of which Furniture and vehicles: -€21,887
- Receivables within one year -€13,781
down €13,781 (-46.1%), from €29,878 to €16,097
of which Other amounts receivable: -€12,713
- Cash -€6,607
down €6,607 (-60.5%), from €10,928 to €4,321
- Debts after one year -€69,198
down €69,198 (-15.3%), from €452,315 to €383,117
of which Financial debts: -€44,198
- Other debts -€26,182
down €26,182 (-76.5%), from €34,224 to €8,042
- Profit (loss) carried forward +€13,908
up €13,908 (+40.8%), from -€34,078 to -€20,171
- Current portion of long-term debt +€13,269
up €13,269 (+44.8%), from €29,588 to €42,858
- Trade debts +€5,678
up €5,678 (+439%), from €1,295 to €6,973
- Gross operating margin +€28,209
up €28,209 (+71.2%), from €39,607 to €67,816
- Depreciation +€21,796
up €21,796 (+129%), from €16,838 to €38,633
- Financial charges -€3,529
down €3,529 (-24.0%), from €14,686 to €11,157
- Taxes +€1,456
up €1,456 (+560%), from €260 to €1,715
- Other operating charges +€1,161
up €1,161 (+90.9%), from €1,278 to €2,438
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
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 | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €517,645 | €460,857 | -€56,788 | -11.0% |
| Fixed assets | 21/28 | €476,191 | €439,169 | -€37,022 | -7.8% |
| Tangible fixed assets | 22/27 | €476,191 | €439,169 | -€37,022 | -7.8% |
| Land and buildings | 22 | €409,623 | €393,340 | -€16,283 | -4.0% |
| Plant, machinery and equipment | 23 | - | €1,148 | +€1,148 | |
| Furniture and vehicles | 24 | €66,568 | €44,681 | -€21,887 | -32.9% |
| Current assets | 29/58 | €41,454 | €21,688 | -€19,766 | -47.7% |
| Amounts receivable within one year | 40/41 | €29,878 | €16,097 | -€13,781 | -46.1% |
| Trade receivables | 40 | €17,165 | €16,097 | -€1,068 | -6.2% |
| Other amounts receivable | 41 | €12,713 | €0 | -€12,713 | -100% |
| Cash at bank and in hand | 54/58 | €10,928 | €4,321 | -€6,607 | -60.5% |
| Deferred charges and accrued income | 490/1 | €647 | €1,270 | +€622 | +96.2% |
| Total equity and liabilities | 10/49 | €517,645 | €460,857 | -€56,788 | -11.0% |
| Equity | 10/15 | -€1,689 | €12,219 | +€13,908 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,790 | €13,790 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €11,930 | €13,790 | +€1,860 | +15.6% |
| Profit (loss) carried forward | 14 | -€34,078 | -€20,171 | +€13,908 | +40.8% |
| Amounts payable | 17/49 | €519,334 | €448,638 | -€70,696 | -13.6% |
| Amounts payable after more than one year | 17 | €452,315 | €383,117 | -€69,198 | -15.3% |
| Financial debts | 170/4 | €322,315 | €278,117 | -€44,198 | -13.7% |
| Other amounts payable | 178/9 | €130,000 | €105,000 | -€25,000 | -19.2% |
| Amounts payable within one year | 42/48 | €67,019 | €64,486 | -€2,533 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €29,588 | €42,858 | +€13,269 | +44.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,295 | €6,973 | +€5,678 | +439% |
| Suppliers | 440/4 | €1,295 | €6,973 | +€5,678 | +439% |
| Taxes, remuneration and social security | 45 | €1,912 | €6,614 | +€4,702 | +246% |
| Taxes | 450/3 | €1,912 | €6,614 | +€4,702 | +246% |
| Other amounts payable | 47/48 | €34,224 | €8,042 | -€26,182 | -76.5% |
| Accrued charges and deferred income | 492/3 | - | €1,035 | +€1,035 | |
| Non-recurring operating income | 76A | €3,926 | €0 | -€3,926 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,838 | €38,633 | +€21,796 | +129% |
| Other operating charges | 640/8 | €1,278 | €2,438 | +€1,161 | +90.9% |
| Non-recurring operating charges | 66A | €21,369 | €0 | -€21,369 | -100% |
| Gross operating margin | 9900 | €39,607 | €67,816 | +€28,209 | +71.2% |
| Operating profit (loss) | 9901 | €123 | €26,745 | +€26,622 | +21,686% |
| Financial income | 75/76B | €274 | €36 | -€238 | -86.9% |
| Recurring financial income | 75 | €274 | €36 | -€238 | -86.9% |
| Financial charges | 65/66B | €14,686 | €11,157 | -€3,529 | -24.0% |
| Recurring financial charges | 65 | €14,686 | €11,157 | -€3,529 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,289 | €15,623 | +€29,912 | |
| Income taxes | 67/77 | €260 | €1,715 | +€1,456 | +560% |
| Profit (loss) for the period | 9904 | -€14,549 | €13,908 | +€28,457 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,549 | €13,908 | +€28,457 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.