RITSAERT: 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.
RITSAERT
Largest movements
- Cash +€169,954
up €169,954 (+79.1%), from €214,887 to €384,841
mainly Net result for the year (+€382,274) and Other debts (+€298,916)
- Tangible fixed assets +€99,839
up €99,839 (+7,766%), from €1,286 to €101,125
of which Leasing and similar rights: +€74,727
- Current investments +€24,605
up €24,605 (+30.3%), from €81,203 to €105,808
- Other debts +€298,916
up €298,916 (+22,748%), from €1,314 to €300,230
- Debts after one year +€50,153
new in 2025: €50,153
- Reserves -€41,255
down €41,255 (-16.7%), from €246,890 to €205,636
- Tax, wage and social debts -€25,940
down €25,940 (-48.8%), from €53,107 to €27,167
- Current portion of long-term debt +€18,440
new in 2025: €18,440
- Gross operating margin +€195,140
up €195,140 (+61.1%), from €319,605 to €514,744
- Taxes +€45,230
up €45,230 (+59.5%), from €76,013 to €121,243
- Depreciation +€8,344
up €8,344 (+1,841%), from €453 to €8,797
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 | €307,666 | €608,770 | +€301,104 | +97.9% |
| Fixed assets | 21/28 | €1,286 | €101,125 | +€99,839 | +7,766% |
| Tangible fixed assets | 22/27 | €1,286 | €101,125 | +€99,839 | +7,766% |
| Land and buildings | 22 | - | €25,565 | +€25,565 | |
| Furniture and vehicles | 24 | €1,286 | €832 | -€453 | -35.3% |
| Leasing and similar rights | 25 | - | €74,727 | +€74,727 | |
| Current assets | 29/58 | €306,380 | €507,645 | +€201,265 | +65.7% |
| Amounts receivable within one year | 40/41 | €10,290 | €15,290 | +€5,000 | +48.6% |
| Trade receivables | 40 | €0 | €10,000 | +€10,000 | |
| Other amounts receivable | 41 | €10,290 | €5,290 | -€5,000 | -48.6% |
| Current investments | 50/53 | €81,203 | €105,808 | +€24,605 | +30.3% |
| Cash at bank and in hand | 54/58 | €214,887 | €384,841 | +€169,954 | +79.1% |
| Deferred charges and accrued income | 490/1 | - | €1,705 | +€1,705 | |
| Total equity and liabilities | 10/49 | €307,666 | €608,770 | +€301,104 | +97.9% |
| Equity | 10/15 | €252,890 | €211,636 | -€41,255 | -16.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €246,890 | €205,636 | -€41,255 | -16.7% |
| Distributable reserves | 133 | €246,890 | €205,636 | -€41,255 | -16.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €54,775 | €397,134 | +€342,359 | +625% |
| Amounts payable after more than one year | 17 | - | €50,153 | +€50,153 | |
| Financial debts | 170/4 | - | €50,153 | +€50,153 | |
| Amounts payable within one year | 42/48 | €54,775 | €346,981 | +€292,206 | +533% |
| Current portion of amounts payable after more than one year | 42 | - | €18,440 | +€18,440 | |
| Financial debts | 43 | €82 | €0 | -€82 | -100% |
| Credit institutions | 430/8 | €82 | €0 | -€82 | -100% |
| Trade debts | 44 | €272 | €1,144 | +€872 | +320% |
| Suppliers | 440/4 | €272 | €1,144 | +€872 | +320% |
| Taxes, remuneration and social security | 45 | €53,107 | €27,167 | -€25,940 | -48.8% |
| Taxes | 450/3 | €53,107 | €27,167 | -€25,940 | -48.8% |
| Other amounts payable | 47/48 | €1,314 | €300,230 | +€298,916 | +22,748% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €453 | €8,797 | +€8,344 | +1,841% |
| Other operating charges | 640/8 | €620 | €1,919 | +€1,299 | +210% |
| Gross operating margin | 9900 | €319,605 | €514,744 | +€195,140 | +61.1% |
| Operating profit (loss) | 9901 | €318,532 | €504,028 | +€185,496 | +58.2% |
| Financial income | 75/76B | €4,549 | €1,177 | -€3,372 | -74.1% |
| Recurring financial income | 75 | €4,549 | €1,177 | -€3,372 | -74.1% |
| Financial charges | 65/66B | €177 | €1,687 | +€1,510 | +853% |
| Recurring financial charges | 65 | €177 | €1,687 | +€1,510 | +853% |
| Profit (loss) for the period before taxes | 9903 | €322,904 | €503,518 | +€180,614 | +55.9% |
| Income taxes | 67/77 | €76,013 | €121,243 | +€45,230 | +59.5% |
| Profit (loss) for the period | 9904 | €246,890 | €382,274 | +€135,384 | +54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €246,890 | €382,274 | +€135,384 | +54.8% |
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 15 October 2026 via checked.be.