RITMAR: 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.
RITMAR
Largest movements
- Tangible fixed assets +€563,776
up €563,776 (+96.2%), from €586,080 to €1.1m
of which Other tangible fixed assets: +€558,864
- Stocks and contracts -€258,009
down €258,009 (-100%), from €258,009 to €0
- Cash -€231,613
down €231,613 (-94.3%), from €245,549 to €13,936
mainly Investment in fixed assets (net) (-€592,147) and Debts after one year (-€23,815)
- Other debts +€56,654
up €56,654 (+18.7%), from €302,351 to €359,005
- Trade debts +€31,809
up €31,809 (+639%), from €4,978 to €36,787
- Debts after one year -€23,815
down €23,815 (-14.0%), from €169,852 to €146,037
- Reserves +€18,248
up €18,248 (+3.4%), from €533,602 to €551,850
- Gross operating margin +€60,497
up €60,497 (+279%), from €21,663 to €82,160
- Depreciation +€9,689
up €9,689 (+51.9%), from €18,682 to €28,371
- Financial charges -€8,191
down €8,191 (-40.0%), from €20,495 to €12,304
- Taxes +€2,938
up €2,938 (+2,237%), from €131 to €3,069
- Financial income -€2,501
down €2,501 (-79.7%), from €3,139 to €638
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 | €1,105,226 | €1,182,877 | +€77,652 | +7.0% |
| Fixed assets | 21/28 | €588,080 | €1,151,855 | +€563,776 | +95.9% |
| Tangible fixed assets | 22/27 | €586,080 | €1,149,855 | +€563,776 | +96.2% |
| Furniture and vehicles | 24 | €142 | €5,053 | +€4,911 | +3,463% |
| Other tangible fixed assets | 26 | €585,938 | €1,144,802 | +€558,864 | +95.4% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €517,146 | €31,022 | -€486,124 | -94.0% |
| Stocks and contracts in progress | 3 | €258,009 | €0 | -€258,009 | -100% |
| Contracts in progress | 37 | €258,009 | €0 | -€258,009 | -100% |
| Amounts receivable within one year | 40/41 | €5,062 | €10,239 | +€5,177 | +102% |
| Trade receivables | 40 | €2,719 | €9,220 | +€6,501 | +239% |
| Other amounts receivable | 41 | €2,343 | €1,019 | -€1,324 | -56.5% |
| Cash at bank and in hand | 54/58 | €245,549 | €13,936 | -€231,613 | -94.3% |
| Deferred charges and accrued income | 490/1 | €8,525 | €6,847 | -€1,678 | -19.7% |
| Total equity and liabilities | 10/49 | €1,105,226 | €1,182,877 | +€77,652 | +7.0% |
| Equity | 10/15 | €587,467 | €605,715 | +€18,248 | +3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €533,602 | €551,850 | +€18,248 | +3.4% |
| Distributable reserves | 133 | €533,602 | €551,850 | +€18,248 | +3.4% |
| Profit (loss) carried forward | 14 | €35,265 | €35,265 | = | 0.0% |
| Amounts payable | 17/49 | €517,759 | €577,163 | +€59,404 | +11.5% |
| Amounts payable after more than one year | 17 | €169,852 | €146,037 | -€23,815 | -14.0% |
| Financial debts | 170/4 | €169,852 | €146,037 | -€23,815 | -14.0% |
| Amounts payable within one year | 42/48 | €331,632 | €422,422 | +€90,790 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | €23,368 | €23,815 | +€447 | +1.9% |
| Trade debts | 44 | €4,978 | €36,787 | +€31,809 | +639% |
| Suppliers | 440/4 | €4,978 | €36,787 | +€31,809 | +639% |
| Taxes, remuneration and social security | 45 | €935 | €2,815 | +€1,880 | +201% |
| Taxes | 450/3 | €935 | €2,815 | +€1,880 | +201% |
| Other amounts payable | 47/48 | €302,351 | €359,005 | +€56,654 | +18.7% |
| Accrued charges and deferred income | 492/3 | €16,275 | €8,704 | -€7,572 | -46.5% |
| Non-recurring operating income | 76A | €13,399 | €0 | -€13,399 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,682 | €28,371 | +€9,689 | +51.9% |
| Other operating charges | 640/8 | €8,810 | €8,990 | +€180 | +2.0% |
| Non-recurring operating charges | 66A | €167 | €0 | -€167 | -100% |
| Gross operating margin | 9900 | €21,663 | €82,160 | +€60,497 | +279% |
| Operating profit (loss) | 9901 | -€5,997 | €44,799 | +€50,795 | |
| Financial income | 75/76B | €3,139 | €638 | -€2,501 | -79.7% |
| Recurring financial income | 75 | €3,139 | €638 | -€2,501 | -79.7% |
| Financial charges | 65/66B | €20,495 | €12,304 | -€8,191 | -40.0% |
| Recurring financial charges | 65 | €20,495 | €12,304 | -€8,191 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | -€23,352 | €33,133 | +€56,485 | |
| Income taxes | 67/77 | €131 | €3,069 | +€2,938 | +2,237% |
| Profit (loss) for the period | 9904 | -€23,483 | €30,064 | +€53,547 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,483 | €30,064 | +€53,547 |
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 28 October 2026 via checked.be.