RISA: 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.
RISA
Largest movements
- Tangible fixed assets -€45,839
down €45,839 (-53.7%), from €85,330 to €39,490
of which Land and buildings: -€70,830
- Cash +€44,041
up €44,041 (+16.8%), from €261,755 to €305,796
mainly Tax, wage and social debts (+€36,553) and Investment in fixed assets (net) (+€28,909)
- Stocks and contracts +€42,176
up €42,176 (+72.5%), from €58,169 to €100,346
- Deferred charges and accrued income -€21,946
down €21,946 (-100.0%), from €21,946 to €0
- Receivables within one year -€18,248
down €18,248 (-1.9%), from €965,160 to €946,912
of which Trade receivables: -€34,914
- Profit (loss) carried forward -€52,795
down €52,795 (-7.8%), from €681,161 to €628,366
- Tax, wage and social debts +€36,553
up €36,553 (+49.2%), from €74,274 to €110,827
of which Remuneration and social security: +€36,548
- Current portion of long-term debt +€15,302
up €15,302 (+134.8%), from €11,355 to €26,657
- Gross operating margin -€401,880
down €401,880 (-49.3%), from €815,748 to €413,868
- Taxes -€83,658
down €83,658 (-100.0%), from €83,658 to €0
- Other operating charges +€77,016
up €77,016 (+768.8%), from €10,017 to €87,033
- Staff costs -€49,126
down €49,126 (-12.1%), from €406,476 to €357,350
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 | €1,415,783 | €1,412,222 | -€3,561 | -0.3% |
| Fixed assets | 21/28 | €108,753 | €59,169 | -€49,584 | -45.6% |
| Intangible fixed assets | 21 | €18,423 | €14,678 | -€3,745 | -20.3% |
| Tangible fixed assets | 22/27 | €85,330 | €39,490 | -€45,839 | -53.7% |
| Land and buildings | 22 | €70,830 | €0 | -€70,830 | -100.0% |
| Plant, machinery and equipment | 23 | €6,074 | €33,364 | +€27,290 | +449.3% |
| Furniture and vehicles | 24 | €8,426 | €6,126 | -€2,300 | -27.3% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €1,307,030 | €1,353,053 | +€46,023 | +3.5% |
| Stocks and contracts in progress | 3 | €58,169 | €100,346 | +€42,176 | +72.5% |
| Stocks | 30/36 | €58,169 | €100,346 | +€42,176 | +72.5% |
| Amounts receivable within one year | 40/41 | €965,160 | €946,912 | -€18,248 | -1.9% |
| Trade receivables | 40 | €911,590 | €876,676 | -€34,914 | -3.8% |
| Other amounts receivable | 41 | €53,569 | €70,235 | +€16,666 | +31.1% |
| Cash at bank and in hand | 54/58 | €261,755 | €305,796 | +€44,041 | +16.8% |
| Deferred charges and accrued income | 490/1 | €21,946 | €0 | -€21,946 | -100.0% |
| Total equity and liabilities | 10/49 | €1,415,783 | €1,412,222 | -€3,561 | -0.3% |
| Equity | 10/15 | €701,621 | €648,826 | -€52,795 | -7.5% |
| 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 | €681,161 | €628,366 | -€52,795 | -7.8% |
| Amounts payable | 17/49 | €714,162 | €763,396 | +€49,234 | +6.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €713,327 | €762,893 | +€49,566 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €11,355 | €26,657 | +€15,302 | +134.8% |
| Financial debts | 43 | €5,738 | €10,037 | +€4,298 | +74.9% |
| Credit institutions | 430/8 | €5,738 | €10,037 | +€4,298 | +74.9% |
| Trade debts | 44 | €621,950 | €615,372 | -€6,578 | -1.1% |
| Suppliers | 440/4 | €621,950 | €615,372 | -€6,578 | -1.1% |
| Taxes, remuneration and social security | 45 | €74,274 | €110,827 | +€36,553 | +49.2% |
| Taxes | 450/3 | €74,183 | €74,188 | +€5 | 0.0% |
| Remuneration and social security | 454/9 | €92 | €36,639 | +€36,548 | +39820.8% |
| Other amounts payable | 47/48 | €9 | €0 | -€9 | -100.0% |
| Accrued charges and deferred income | 492/3 | €835 | €504 | -€331 | -39.7% |
| Non-recurring operating income | 76A | €193 | €0 | -€193 | -100.0% |
| Remuneration, social security and pensions | 62 | €406,476 | €357,350 | -€49,126 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,126 | €20,675 | +€549 | +2.7% |
| Other operating charges | 640/8 | €10,017 | €87,033 | +€77,016 | +768.8% |
| Non-recurring operating charges | 66A | €185 | €0 | -€185 | -100.0% |
| Gross operating margin | 9900 | €815,748 | €413,868 | -€401,880 | -49.3% |
| Operating profit (loss) | 9901 | €378,944 | -€51,190 | -€430,134 | |
| Financial income | 75/76B | €1,163 | €573 | -€591 | -50.8% |
| Recurring financial income | 75 | €1,163 | €573 | -€591 | -50.8% |
| Financial charges | 65/66B | €2,544 | €2,178 | -€367 | -14.4% |
| Recurring financial charges | 65 | €2,544 | €2,178 | -€367 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €377,563 | -€52,795 | -€430,358 | |
| Income taxes | 67/77 | €83,658 | €0 | -€83,658 | -100.0% |
| Profit (loss) for the period | 9904 | €293,905 | -€52,795 | -€346,700 | |
| Profit (loss) for the period to be appropriated | 9905 | €293,905 | -€52,795 | -€346,700 |
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 5 October 2026 via checked.be.