RIVERSTAR ACADEMY: 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 ACADEMY
Largest movements
- Tangible fixed assets -€5,864
down €5,864 (-22.3%), from €26,288 to €20,424
of which Furniture and vehicles: -€5,990
- Cash -€4,811
down €4,811 (-35.3%), from €13,640 to €8,829
mainly Other debts (-€23,505) and Investment in fixed assets (net) (-€5,450)
- Receivables within one year -€4,168
down €4,168 (-40.8%), from €10,207 to €6,039
- Deferred charges and accrued income -€1,440
down €1,440 (-100%), from €1,440 to €0
- Other debts -€23,505
down €23,505 (-64.9%), from €36,225 to €12,720
- Accrued charges and deferred income +€2,877
up €2,877 (+2,334%), from €123 to €3,000
- Tax, wage and social debts +€2,826
up €2,826 (+32.0%), from €8,833 to €11,659
- Profit (loss) carried forward +€2,282
up €2,282 (+15.2%), from -€15,059 to -€12,777
- Trade debts -€763
down €763 (-52.5%), from €1,454 to €691
- Gross operating margin -€7,966
down €7,966 (-33.0%), from €24,147 to €16,180
- Taxes -€3,343
down €3,343 (-66.0%), from €5,067 to €1,724
- Depreciation +€995
up €995 (+9.6%), from €10,319 to €11,314
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 | €51,575 | €35,292 | -€16,283 | -31.6% |
| Fixed assets | 21/28 | €26,288 | €20,424 | -€5,864 | -22.3% |
| Tangible fixed assets | 22/27 | €26,288 | €20,424 | -€5,864 | -22.3% |
| Plant, machinery and equipment | 23 | €6,234 | €6,360 | +€126 | +2.0% |
| Furniture and vehicles | 24 | €20,054 | €14,064 | -€5,990 | -29.9% |
| Current assets | 29/58 | €25,287 | €14,868 | -€10,419 | -41.2% |
| Amounts receivable within one year | 40/41 | €10,207 | €6,039 | -€4,168 | -40.8% |
| Trade receivables | 40 | €10,207 | €6,039 | -€4,168 | -40.8% |
| Cash at bank and in hand | 54/58 | €13,640 | €8,829 | -€4,811 | -35.3% |
| Deferred charges and accrued income | 490/1 | €1,440 | €0 | -€1,440 | -100% |
| Total equity and liabilities | 10/49 | €51,575 | €35,292 | -€16,283 | -31.6% |
| Equity | 10/15 | €4,941 | €7,223 | +€2,282 | +46.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,059 | -€12,777 | +€2,282 | +15.2% |
| Amounts payable | 17/49 | €46,634 | €28,069 | -€18,565 | -39.8% |
| Amounts payable within one year | 42/48 | €46,511 | €25,069 | -€21,442 | -46.1% |
| Trade debts | 44 | €1,454 | €691 | -€763 | -52.5% |
| Suppliers | 440/4 | €1,454 | €691 | -€763 | -52.5% |
| Taxes, remuneration and social security | 45 | €8,833 | €11,659 | +€2,826 | +32.0% |
| Taxes | 450/3 | €8,833 | €11,659 | +€2,826 | +32.0% |
| Other amounts payable | 47/48 | €36,225 | €12,720 | -€23,505 | -64.9% |
| Accrued charges and deferred income | 492/3 | €123 | €3,000 | +€2,877 | +2,334% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,319 | €11,314 | +€995 | +9.6% |
| Other operating charges | 640/8 | €859 | €747 | -€112 | -13.0% |
| Gross operating margin | 9900 | €24,147 | €16,180 | -€7,966 | -33.0% |
| Operating profit (loss) | 9901 | €12,969 | €4,120 | -€8,850 | -68.2% |
| Financial income | 75/76B | €11 | €225 | +€214 | +2,023% |
| Recurring financial income | 75 | €11 | €225 | +€214 | +2,023% |
| Financial charges | 65/66B | €332 | €338 | +€7 | +2.0% |
| Recurring financial charges | 65 | €332 | €338 | +€7 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €12,648 | €4,006 | -€8,642 | -68.3% |
| Income taxes | 67/77 | €5,067 | €1,724 | -€3,343 | -66.0% |
| Profit (loss) for the period | 9904 | €7,581 | €2,282 | -€5,299 | -69.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,581 | €2,282 | -€5,299 | -69.9% |
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 26 October 2026 via checked.be.