RITROVO: 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.
RITROVO
Largest movements
- Stocks and contracts +€119,033
up €119,033 (+30.7%), from €388,010 to €507,043
- Receivables within one year +€64,178
up €64,178 (+50.2%), from €127,952 to €192,130
of which Other amounts receivable: +€39,851
- Cash +€46,060
up €46,060 (+23.3%), from €197,663 to €243,723
mainly Net result for the year (+€246,646) and Tax, wage and social debts (+€86,402)
- Tangible fixed assets -€20,986
down €20,986 (-13.1%), from €160,749 to €139,762
of which Other tangible fixed assets: -€14,606
- Intangible fixed assets -€15,000
down €15,000 (-26.7%), from €56,219 to €41,219
- Reserves +€246,646
up €246,646 (+70.1%), from €351,837 to €598,483
- Tax, wage and social debts +€86,402
up €86,402 (+46.4%), from €186,402 to €272,804
of which Taxes: +€76,074
- Other debts -€77,834
no longer reported in 2025 (was €77,834)
- Trade debts -€55,491
down €55,491 (-18.6%), from €298,270 to €242,779
- Write-downs +€150,883
up €150,883, from -€109,394 to €41,490
- Gross operating margin +€136,228
up €136,228 (+23.6%), from €576,223 to €712,451
- Staff costs +€64,480
up €64,480 (+25.7%), from €250,959 to €315,439
- Taxes -€14,257
down €14,257 (-14.3%), from €99,604 to €85,347
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 | €931,343 | €1,131,065 | +€199,723 | +21.4% |
| Fixed assets | 21/28 | €217,718 | €181,732 | -€35,986 | -16.5% |
| Intangible fixed assets | 21 | €56,219 | €41,219 | -€15,000 | -26.7% |
| Tangible fixed assets | 22/27 | €160,749 | €139,762 | -€20,986 | -13.1% |
| Plant, machinery and equipment | 23 | €22,775 | €17,988 | -€4,787 | -21.0% |
| Furniture and vehicles | 24 | €3,016 | €1,423 | -€1,593 | -52.8% |
| Other tangible fixed assets | 26 | €134,958 | €120,352 | -€14,606 | -10.8% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €713,625 | €949,334 | +€235,709 | +33.0% |
| Stocks and contracts in progress | 3 | €388,010 | €507,043 | +€119,033 | +30.7% |
| Stocks | 30/36 | €388,010 | €507,043 | +€119,033 | +30.7% |
| Amounts receivable within one year | 40/41 | €127,952 | €192,130 | +€64,178 | +50.2% |
| Trade receivables | 40 | €120,497 | €144,824 | +€24,326 | +20.2% |
| Other amounts receivable | 41 | €7,455 | €47,306 | +€39,851 | +535% |
| Cash at bank and in hand | 54/58 | €197,663 | €243,723 | +€46,060 | +23.3% |
| Deferred charges and accrued income | 490/1 | - | €6,438 | +€6,438 | |
| Total equity and liabilities | 10/49 | €931,343 | €1,131,065 | +€199,723 | +21.4% |
| Equity | 10/15 | €361,837 | €608,483 | +€246,646 | +68.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €351,837 | €598,483 | +€246,646 | +70.1% |
| Distributable reserves | 133 | €351,837 | €598,483 | +€246,646 | +70.1% |
| Amounts payable | 17/49 | €569,506 | €522,583 | -€46,923 | -8.2% |
| Amounts payable within one year | 42/48 | €562,506 | €515,583 | -€46,923 | -8.3% |
| Trade debts | 44 | €298,270 | €242,779 | -€55,491 | -18.6% |
| Suppliers | 440/4 | €298,270 | €242,779 | -€55,491 | -18.6% |
| Taxes, remuneration and social security | 45 | €186,402 | €272,804 | +€86,402 | +46.4% |
| Taxes | 450/3 | €163,054 | €239,128 | +€76,074 | +46.7% |
| Remuneration and social security | 454/9 | €23,348 | €33,676 | +€10,327 | +44.2% |
| Other amounts payable | 47/48 | €77,834 | - | -€77,834 | |
| Accrued charges and deferred income | 492/3 | €7,000 | €7,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €250,959 | €315,439 | +€64,480 | +25.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,342 | €35,986 | +€3,645 | +11.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€109,394 | €41,490 | +€150,883 | |
| Other operating charges | 640/8 | €154 | €1,190 | +€1,036 | +672% |
| Gross operating margin | 9900 | €576,223 | €712,451 | +€136,228 | +23.6% |
| Operating profit (loss) | 9901 | €402,162 | €318,346 | -€83,816 | -20.8% |
| Financial income | 75/76B | €14,911 | €19,861 | +€4,950 | +33.2% |
| Recurring financial income | 75 | €14,911 | €15,637 | +€726 | +4.9% |
| Non-recurring financial income | 76B | - | €4,224 | +€4,224 | |
| Financial charges | 65/66B | €8,243 | €6,214 | -€2,028 | -24.6% |
| Recurring financial charges | 65 | €5,831 | €6,214 | +€383 | +6.6% |
| Non-recurring financial charges | 66B | €2,412 | - | -€2,412 | |
| Profit (loss) for the period before taxes | 9903 | €408,831 | €331,993 | -€76,838 | -18.8% |
| Income taxes | 67/77 | €99,604 | €85,347 | -€14,257 | -14.3% |
| Profit (loss) for the period | 9904 | €309,227 | €246,646 | -€62,581 | -20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €309,227 | €246,646 | -€62,581 | -20.2% |
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 17 October 2026 via checked.be.