RIVAGO: 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.
RIVAGO
Largest movements
- Receivables within one year -€25,154
down €25,154 (-37.8%), from €66,610 to €41,456
of which Trade receivables: -€16,289
- Receivables after one year +€20,000
up €20,000 (+39.2%), from €51,000 to €71,000
- Cash +€11,476
up €11,476 (+103.3%), from €11,106 to €22,583
mainly Net result for the year (+€46,286) and Receivables within one year (+€25,154)
- Tangible fixed assets -€11,351
down €11,351 (-6.3%), from €180,470 to €169,119
of which Land and buildings: -€11,480
- Reserves +€28,286
up €28,286 (+23.9%), from €118,191 to €146,478
- Debts after one year -€24,895
down €24,895 (-21.6%), from €115,219 to €90,324
- Trade debts -€16,574
down €16,574 (-70.3%), from €23,575 to €7,001
- Tax, wage and social debts +€7,146
up €7,146 (+46.9%), from €15,243 to €22,389
- Gross operating margin +€10,350
up €10,350 (+12.6%), from €82,468 to €92,817
- Taxes +€2,298
up €2,298 (+10.6%), from €21,766 to €24,064
- Depreciation +€2,119
up €2,119 (+17.0%), from €12,455 to €14,574
- Financial charges -€972
down €972 (-11.7%), from €8,296 to €7,324
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 | €312,509 | €307,216 | -€5,293 | -1.7% |
| Fixed assets | 21/28 | €181,810 | €170,459 | -€11,351 | -6.2% |
| Tangible fixed assets | 22/27 | €180,470 | €169,119 | -€11,351 | -6.3% |
| Land and buildings | 22 | €171,596 | €160,117 | -€11,480 | -6.7% |
| Plant, machinery and equipment | 23 | €5,954 | €6,066 | +€111 | +1.9% |
| Furniture and vehicles | 24 | €2,919 | €2,937 | +€17 | +0.6% |
| Financial fixed assets | 28 | €1,340 | €1,340 | = | 0.0% |
| Current assets | 29/58 | €130,699 | €136,757 | +€6,058 | +4.6% |
| Amounts receivable after more than one year | 29 | €51,000 | €71,000 | +€20,000 | +39.2% |
| Other amounts receivable | 291 | €51,000 | €71,000 | +€20,000 | +39.2% |
| Amounts receivable within one year | 40/41 | €66,610 | €41,456 | -€25,154 | -37.8% |
| Trade receivables | 40 | €50,083 | €33,794 | -€16,289 | -32.5% |
| Other amounts receivable | 41 | €16,527 | €7,662 | -€8,865 | -53.6% |
| Cash at bank and in hand | 54/58 | €11,106 | €22,583 | +€11,476 | +103.3% |
| Deferred charges and accrued income | 490/1 | €1,982 | €1,718 | -€264 | -13.3% |
| Total equity and liabilities | 10/49 | €312,509 | €307,216 | -€5,293 | -1.7% |
| Equity | 10/15 | €130,591 | €158,878 | +€28,286 | +21.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €118,191 | €146,478 | +€28,286 | +23.9% |
| Distributable reserves | 133 | €118,191 | €146,478 | +€28,286 | +23.9% |
| Amounts payable | 17/49 | €181,917 | €148,338 | -€33,579 | -18.5% |
| Amounts payable after more than one year | 17 | €115,219 | €90,324 | -€24,895 | -21.6% |
| Financial debts | 170/4 | €115,219 | €90,324 | -€24,895 | -21.6% |
| Amounts payable within one year | 42/48 | €63,069 | €54,285 | -€8,784 | -13.9% |
| Current portion of amounts payable after more than one year | 42 | €24,251 | €24,895 | +€644 | +2.7% |
| Trade debts | 44 | €23,575 | €7,001 | -€16,574 | -70.3% |
| Suppliers | 440/4 | €23,575 | €7,001 | -€16,574 | -70.3% |
| Taxes, remuneration and social security | 45 | €15,243 | €22,389 | +€7,146 | +46.9% |
| Taxes | 450/3 | €15,243 | €22,389 | +€7,146 | +46.9% |
| Accrued charges and deferred income | 492/3 | €3,629 | €3,729 | +€100 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,455 | €14,574 | +€2,119 | +17.0% |
| Other operating charges | 640/8 | €2,415 | €1,982 | -€433 | -17.9% |
| Gross operating margin | 9900 | €82,468 | €92,817 | +€10,350 | +12.6% |
| Operating profit (loss) | 9901 | €67,598 | €76,262 | +€8,664 | +12.8% |
| Financial income | 75/76B | €2,100 | €1,413 | -€687 | -32.7% |
| Recurring financial income | 75 | €2,100 | €1,413 | -€687 | -32.7% |
| Financial charges | 65/66B | €8,296 | €7,324 | -€972 | -11.7% |
| Recurring financial charges | 65 | €8,296 | €7,324 | -€972 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €61,401 | €70,350 | +€8,949 | +14.6% |
| Income taxes | 67/77 | €21,766 | €24,064 | +€2,298 | +10.6% |
| Profit (loss) for the period | 9904 | €39,635 | €46,286 | +€6,651 | +16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €39,635 | €46,286 | +€6,651 | +16.8% |
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 8 October 2026 via checked.be.