RIVERSTAR: 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.
RIVERSTAR
Largest movements
- Receivables within one year +€19,992
up €19,992 (+46.2%), from €43,301 to €63,293
of which Trade receivables: +€17,954
- Cash +€12,143
up €12,143 (+4.4%), from €276,950 to €289,093
mainly Net result for the year (+€67,876) and Depreciation (+€2,343)
- Tangible fixed assets +€6,453
up €6,453 (+7.2%), from €90,022 to €96,475
of which Furniture and vehicles: +€8,838
- Reserves +€67,876
up €67,876 (+25.4%), from €267,226 to €335,102
- Tax, wage and social debts -€31,308
down €31,308 (-79.7%), from €39,286 to €7,978
of which Remuneration and social security: -€22,000
- Gross operating margin +€38,081
up €38,081 (+77.0%), from €49,445 to €87,526
- Depreciation -€28,657
down €28,657 (-92.4%), from €31,000 to €2,343
- Taxes +€8,826
up €8,826 (+144%), from €6,145 to €14,971
- Other operating charges -€1,828
down €1,828 (-44.7%), from €4,085 to €2,257
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 | €427,971 | €464,921 | +€36,950 | +8.6% |
| Fixed assets | 21/28 | €106,082 | €112,535 | +€6,453 | +6.1% |
| Tangible fixed assets | 22/27 | €90,022 | €96,475 | +€6,453 | +7.2% |
| Land and buildings | 22 | €17,271 | €12,720 | -€4,551 | -26.4% |
| Plant, machinery and equipment | 23 | €14,256 | €16,422 | +€2,166 | +15.2% |
| Furniture and vehicles | 24 | €58,495 | €67,333 | +€8,838 | +15.1% |
| Financial fixed assets | 28 | €16,060 | €16,060 | = | 0.0% |
| Current assets | 29/58 | €321,889 | €352,386 | +€30,497 | +9.5% |
| Amounts receivable within one year | 40/41 | €43,301 | €63,293 | +€19,992 | +46.2% |
| Trade receivables | 40 | €13,964 | €31,918 | +€17,954 | +129% |
| Other amounts receivable | 41 | €29,337 | €31,375 | +€2,038 | +6.9% |
| Cash at bank and in hand | 54/58 | €276,950 | €289,093 | +€12,143 | +4.4% |
| Deferred charges and accrued income | 490/1 | €1,638 | - | -€1,638 | |
| Total equity and liabilities | 10/49 | €427,971 | €464,921 | +€36,950 | +8.6% |
| Equity | 10/15 | €388,375 | €456,251 | +€67,876 | +17.5% |
| Contributions | 10/11 | €121,149 | €121,149 | = | 0.0% |
| Reserves | 13 | €267,226 | €335,102 | +€67,876 | +25.4% |
| Distributable reserves | 133 | €267,226 | €335,102 | +€67,876 | +25.4% |
| Amounts payable | 17/49 | €39,596 | €8,670 | -€30,926 | -78.1% |
| Amounts payable within one year | 42/48 | €39,596 | €8,670 | -€30,926 | -78.1% |
| Trade debts | 44 | €310 | €692 | +€382 | +123% |
| Suppliers | 440/4 | €310 | €692 | +€382 | +123% |
| Taxes, remuneration and social security | 45 | €39,286 | €7,978 | -€31,308 | -79.7% |
| Taxes | 450/3 | €17,286 | €7,978 | -€9,308 | -53.8% |
| Remuneration and social security | 454/9 | €22,000 | - | -€22,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,000 | €2,343 | -€28,657 | -92.4% |
| Other operating charges | 640/8 | €4,085 | €2,257 | -€1,828 | -44.7% |
| Gross operating margin | 9900 | €49,445 | €87,526 | +€38,081 | +77.0% |
| Operating profit (loss) | 9901 | €14,360 | €82,926 | +€68,566 | +477% |
| Financial charges | 65/66B | €66 | €79 | +€13 | +19.7% |
| Recurring financial charges | 65 | €66 | €79 | +€13 | +19.7% |
| Profit (loss) for the period before taxes | 9903 | €14,294 | €82,847 | +€68,553 | +480% |
| Income taxes | 67/77 | €6,145 | €14,971 | +€8,826 | +144% |
| Profit (loss) for the period | 9904 | €8,149 | €67,876 | +€59,727 | +733% |
| Profit (loss) for the period to be appropriated | 9905 | €8,149 | €67,876 | +€59,727 | +733% |
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.