Ritchie: 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.
Ritchie
Largest movements
- Current investments -€419,071
down €419,071 (-97.7%), from €429,071 to €10,000
- Stocks and contracts +€62,363
up €62,363 (+94.1%), from €66,242 to €128,605
- Receivables within one year +€51,471
up €51,471 (+6.7%), from €771,310 to €822,780
of which Trade receivables: +€96,521
- Cash -€48,300
down €48,300 (-58.5%), from €82,495 to €34,195
mainly Contributions, distributions and other (-€1.1m) and Investment in fixed assets (net) (-€74,744)
- Tangible fixed assets +€41,222
up €41,222 (+11.3%), from €363,268 to €404,490
of which Furniture and vehicles: +€56,448
- Profit (loss) carried forward -€736,742
down €736,742 (-60.5%), from €1.2m to €482,004
- Other debts +€352,118
up €352,118 (+419537.3%), from €84 to €352,202
- Trade debts +€115,274
up €115,274 (+45.6%), from €252,698 to €367,972
- Gross operating margin +€82,791
up €82,791 (+15.1%), from €547,693 to €630,484
- Financial income -€52,637
down €52,637 (-86.7%), from €60,682 to €8,045
- Taxes +€25,551
up €25,551 (+26.5%), from €96,443 to €121,993
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 | €1,734,682 | €1,445,266 | -€289,416 | -16.7% |
| Fixed assets | 21/28 | €364,156 | €404,490 | +€40,334 | +11.1% |
| Intangible fixed assets | 21 | €888 | €0 | -€888 | -100.0% |
| Tangible fixed assets | 22/27 | €363,268 | €404,490 | +€41,222 | +11.3% |
| Land and buildings | 22 | €324,558 | €309,252 | -€15,306 | -4.7% |
| Plant, machinery and equipment | 23 | €5,044 | €5,124 | +€80 | +1.6% |
| Furniture and vehicles | 24 | €33,666 | €90,113 | +€56,448 | +167.7% |
| Current assets | 29/58 | €1,370,526 | €1,040,776 | -€329,750 | -24.1% |
| Stocks and contracts in progress | 3 | €66,242 | €128,605 | +€62,363 | +94.1% |
| Stocks | 30/36 | €66,242 | €128,605 | +€62,363 | +94.1% |
| Amounts receivable within one year | 40/41 | €771,310 | €822,780 | +€51,471 | +6.7% |
| Trade receivables | 40 | €543,092 | €639,613 | +€96,521 | +17.8% |
| Other amounts receivable | 41 | €228,218 | €183,167 | -€45,051 | -19.7% |
| Current investments | 50/53 | €429,071 | €10,000 | -€419,071 | -97.7% |
| Cash at bank and in hand | 54/58 | €82,495 | €34,195 | -€48,300 | -58.5% |
| Deferred charges and accrued income | 490/1 | €21,409 | €45,196 | +€23,787 | +111.1% |
| Total equity and liabilities | 10/49 | €1,734,682 | €1,445,266 | -€289,416 | -16.7% |
| Equity | 10/15 | €1,330,446 | €593,704 | -€736,742 | -55.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €86,700 | €86,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €84,200 | €84,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,218,746 | €482,004 | -€736,742 | -60.5% |
| Amounts payable | 17/49 | €404,236 | €851,562 | +€447,326 | +110.7% |
| Amounts payable after more than one year | 17 | €131,388 | €118,348 | -€13,041 | -9.9% |
| Financial debts | 170/4 | €131,388 | €118,348 | -€13,041 | -9.9% |
| Amounts payable within one year | 42/48 | €268,967 | €733,214 | +€464,247 | +172.6% |
| Current portion of amounts payable after more than one year | 42 | €12,864 | €13,041 | +€177 | +1.4% |
| Trade debts | 44 | €252,698 | €367,972 | +€115,274 | +45.6% |
| Suppliers | 440/4 | €252,698 | €367,972 | +€115,274 | +45.6% |
| Taxes, remuneration and social security | 45 | €3,322 | €0 | -€3,322 | -100.0% |
| Taxes | 450/3 | €3,322 | €0 | -€3,322 | -100.0% |
| Other amounts payable | 47/48 | €84 | €352,202 | +€352,118 | +419537.3% |
| Accrued charges and deferred income | 492/3 | €3,880 | €0 | -€3,880 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,075 | €34,409 | +€3,334 | +10.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €96,856 | €97,001 | +€145 | +0.1% |
| Gross operating margin | 9900 | €547,693 | €630,484 | +€82,791 | +15.1% |
| Operating profit (loss) | 9901 | €419,762 | €499,074 | +€79,312 | +18.9% |
| Financial income | 75/76B | €60,682 | €8,045 | -€52,637 | -86.7% |
| Recurring financial income | 75 | €60,682 | €8,045 | -€52,637 | -86.7% |
| Financial charges | 65/66B | €6,473 | €1,867 | -€4,606 | -71.2% |
| Recurring financial charges | 65 | €6,473 | €1,867 | -€4,606 | -71.2% |
| Profit (loss) for the period before taxes | 9903 | €473,971 | €505,251 | +€31,280 | +6.6% |
| Income taxes | 67/77 | €96,443 | €121,993 | +€25,551 | +26.5% |
| Profit (loss) for the period | 9904 | €377,528 | €383,258 | +€5,730 | +1.5% |
| Transfer to tax-exempt reserves | 689 | €84,200 | €0 | -€84,200 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €293,328 | €383,258 | +€89,930 | +30.7% |
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 4 October 2026 via checked.be.