RIVEL: 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.
RIVEL
Largest movements
- Tangible fixed assets +€730,795
up €730,795 (+30.4%), from €2.4m to €3.1m
of which Land and buildings: +€733,591
- Receivables within one year +€54,064
up €54,064 (+46.4%), from €116,602 to €170,666
of which Trade receivables: +€54,064
- Debts after one year +€866,554
up €866,554 (+62.9%), from €1.4m to €2.2m
- Provisions -€181,568
no longer reported in 2025 (was €181,568)
- Advances received +€100,000
new in 2025: €100,000
- Other debts -€43,194
down €43,194 (-18.1%), from €238,190 to €194,996
- Trade debts -€42,774
no longer reported in 2025 (was €42,774)
- Other operating charges +€150,367
up €150,367 (+1246.8%), from €12,060 to €162,427
- Gross operating margin +€49,780
up €49,780 (+34.4%), from €144,649 to €194,429
- Financial charges +€35,392
up €35,392 (+74.4%), from €47,560 to €82,952
- Depreciation +€21,241
up €21,241 (+34.0%), from €62,505 to €83,747
- Taxes +€4,143
new in 2025: €4,143
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 | €2,610,394 | €3,380,573 | +€770,178 | +29.5% |
| Fixed assets | 21/28 | €2,416,416 | €3,138,143 | +€721,727 | +29.9% |
| Tangible fixed assets | 22/27 | €2,407,317 | €3,138,113 | +€730,795 | +30.4% |
| Land and buildings | 22 | €2,180,003 | €2,913,594 | +€733,591 | +33.7% |
| Other tangible fixed assets | 26 | €227,314 | €224,519 | -€2,795 | -1.2% |
| Financial fixed assets | 28 | €9,098 | €30 | -€9,068 | -99.7% |
| Current assets | 29/58 | €193,978 | €242,430 | +€48,452 | +25.0% |
| Amounts receivable within one year | 40/41 | €116,602 | €170,666 | +€54,064 | +46.4% |
| Trade receivables | 40 | €114,922 | €168,986 | +€54,064 | +47.0% |
| Other amounts receivable | 41 | €1,680 | €1,680 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,648 | €1,036 | -€5,613 | -84.4% |
| Deferred charges and accrued income | 490/1 | €70,728 | €70,728 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,610,394 | €3,380,573 | +€770,178 | +29.5% |
| Equity | 10/15 | €707,074 | €749,806 | +€42,732 | +6.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €373,175 | €373,175 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,155 | €11,155 | = | 0.0% |
| Legal reserve | 130 | €11,155 | €11,155 | = | 0.0% |
| Tax-exempt reserves | 132 | €352,613 | €352,613 | = | 0.0% |
| Distributable reserves | 133 | €9,406 | €9,406 | = | 0.0% |
| Profit (loss) carried forward | 14 | €315,299 | €358,031 | +€42,732 | +13.6% |
| Provisions and deferred taxes | 16 | €181,568 | - | -€181,568 | |
| Deferred taxes | 168 | €181,568 | - | -€181,568 | |
| Amounts payable | 17/49 | €1,721,752 | €2,630,767 | +€909,015 | +52.8% |
| Amounts payable after more than one year | 17 | €1,377,766 | €2,244,321 | +€866,554 | +62.9% |
| Financial debts | 170/4 | €1,377,766 | €2,244,321 | +€866,554 | +62.9% |
| Amounts payable within one year | 42/48 | €343,986 | €386,446 | +€42,460 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €63,022 | €91,450 | +€28,428 | +45.1% |
| Trade debts | 44 | €42,774 | - | -€42,774 | |
| Suppliers | 440/4 | €42,774 | - | -€42,774 | |
| Advances received on contracts in progress | 46 | - | €100,000 | +€100,000 | |
| Other amounts payable | 47/48 | €238,190 | €194,996 | -€43,194 | -18.1% |
| Remuneration, social security and pensions | 62 | €1,667 | - | -€1,667 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,505 | €83,747 | +€21,241 | +34.0% |
| Other operating charges | 640/8 | €12,060 | €162,427 | +€150,367 | +1246.8% |
| Gross operating margin | 9900 | €144,649 | €194,429 | +€49,780 | +34.4% |
| Operating profit (loss) | 9901 | €68,416 | -€51,744 | -€120,161 | |
| Financial income | 75/76B | €890 | €3 | -€887 | -99.7% |
| Recurring financial income | 75 | €890 | €3 | -€887 | -99.7% |
| Financial charges | 65/66B | €47,560 | €82,952 | +€35,392 | +74.4% |
| Recurring financial charges | 65 | €47,560 | €82,952 | +€35,392 | +74.4% |
| Profit (loss) for the period before taxes | 9903 | €21,746 | -€134,693 | -€156,439 | |
| Transfer from deferred taxes | 780 | - | €181,568 | +€181,568 | |
| Income taxes | 67/77 | - | €4,143 | +€4,143 | |
| Profit (loss) for the period | 9904 | €21,746 | €42,732 | +€20,986 | +96.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,746 | €42,732 | +€20,986 | +96.5% |
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 5 October 2026 via checked.be.