RISCO MANAGEMENT: 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.
RISCO MANAGEMENT
Largest movements
- Receivables within one year -€55,947
down €55,947 (-64.7%), from €86,443 to €30,495
of which Trade receivables: -€52,011
- Cash -€40,233
down €40,233 (-52.2%), from €77,069 to €36,835
mainly Contributions, distributions and other (-€53,810) and Other debts (-€36,690)
- Tangible fixed assets +€11,173
up €11,173 (+23.8%), from €46,985 to €58,158
of which Furniture and vehicles: +€5,966
- Current investments -€8,068
down €8,068 (-6.1%), from €132,000 to €123,932
- Other debts -€36,690
down €36,690 (-63.8%), from €57,500 to €20,810
- Reserves -€33,000
down €33,000 (-10.8%), from €304,860 to €271,860
- Tax, wage and social debts -€11,259
down €11,259 (-30.4%), from €36,989 to €25,730
- Profit (loss) carried forward -€4,863
no longer reported in 2025 (was €4,863)
- Gross operating margin -€142,037
down €142,037 (-86.0%), from €165,093 to €23,056
- Taxes -€40,268
down €40,268 (-84.8%), from €47,465 to €7,198
- Financial income +€6,650
up €6,650 (+253%), from €2,630 to €9,279
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 | €415,293 | €326,660 | -€88,633 | -21.3% |
| Fixed assets | 21/28 | €108,241 | €122,771 | +€14,530 | +13.4% |
| Tangible fixed assets | 22/27 | €46,985 | €58,158 | +€11,173 | +23.8% |
| Plant, machinery and equipment | 23 | €15,736 | €20,943 | +€5,207 | +33.1% |
| Furniture and vehicles | 24 | €3,246 | €9,212 | +€5,966 | +184% |
| Other tangible fixed assets | 26 | €28,003 | €28,003 | = | 0.0% |
| Financial fixed assets | 28 | €61,256 | €64,613 | +€3,357 | +5.5% |
| Current assets | 29/58 | €307,052 | €203,889 | -€103,163 | -33.6% |
| Stocks and contracts in progress | 3 | €6,278 | €7,652 | +€1,374 | +21.9% |
| Stocks | 30/36 | €6,278 | €7,652 | +€1,374 | +21.9% |
| Amounts receivable within one year | 40/41 | €86,443 | €30,495 | -€55,947 | -64.7% |
| Trade receivables | 40 | €65,160 | €13,149 | -€52,011 | -79.8% |
| Other amounts receivable | 41 | €21,283 | €17,346 | -€3,936 | -18.5% |
| Current investments | 50/53 | €132,000 | €123,932 | -€8,068 | -6.1% |
| Cash at bank and in hand | 54/58 | €77,069 | €36,835 | -€40,233 | -52.2% |
| Deferred charges and accrued income | 490/1 | €5,263 | €4,974 | -€289 | -5.5% |
| Total equity and liabilities | 10/49 | €415,293 | €326,660 | -€88,633 | -21.3% |
| Equity | 10/15 | €315,923 | €278,060 | -€37,863 | -12.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €304,860 | €271,860 | -€33,000 | -10.8% |
| Distributable reserves | 133 | €304,860 | €271,860 | -€33,000 | -10.8% |
| Profit (loss) carried forward | 14 | €4,863 | - | -€4,863 | |
| Amounts payable | 17/49 | €99,370 | €48,600 | -€50,770 | -51.1% |
| Amounts payable within one year | 42/48 | €99,370 | €48,600 | -€50,770 | -51.1% |
| Trade debts | 44 | €4,881 | €2,060 | -€2,821 | -57.8% |
| Suppliers | 440/4 | €4,881 | €2,060 | -€2,821 | -57.8% |
| Taxes, remuneration and social security | 45 | €36,989 | €25,730 | -€11,259 | -30.4% |
| Taxes | 450/3 | €36,989 | €25,730 | -€11,259 | -30.4% |
| Other amounts payable | 47/48 | €57,500 | €20,810 | -€36,690 | -63.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,017 | €7,472 | +€1,455 | +24.2% |
| Other operating charges | 640/8 | €1,359 | €1,548 | +€189 | +13.9% |
| Gross operating margin | 9900 | €165,093 | €23,056 | -€142,037 | -86.0% |
| Operating profit (loss) | 9901 | €157,717 | €14,036 | -€143,681 | -91.1% |
| Financial income | 75/76B | €2,630 | €9,279 | +€6,650 | +253% |
| Recurring financial income | 75 | €2,630 | €9,279 | +€6,650 | +253% |
| Financial charges | 65/66B | €191 | €171 | -€20 | -10.5% |
| Recurring financial charges | 65 | €191 | €171 | -€20 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €160,156 | €23,145 | -€137,011 | -85.5% |
| Income taxes | 67/77 | €47,465 | €7,198 | -€40,268 | -84.8% |
| Profit (loss) for the period | 9904 | €112,691 | €15,947 | -€96,744 | -85.8% |
| Profit (loss) for the period to be appropriated | 9905 | €112,691 | €15,947 | -€96,744 | -85.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.