RIVES 903: 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.
What changed
RIVES 903
NACE 55.203, Holiday cottages, homes and apartments
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€20,727
2024 · -€35,956+€15,229
Equity
€42,000
2024 · €62,727-€20,727
Cash
€36,873
2024 · €14,207+€22,666
Balance sheet total
€2.6m
2024 · €2.5m+€66,091
Largest movements
Assets
- Tangible fixed assets +€278,715
up €278,715 (+12.4%), from €2.2m to €2.5m
of which Land and buildings: +€2.5m
- Receivables within one year -€238,197
down €238,197 (-92.4%), from €257,768 to €19,571
of which Other amounts receivable: -€248,086
Equity and liabilities
- Debts after one year +€106,694
up €106,694 (+4.7%), from €2.3m to €2.4m
of which Other amounts payable: +€159,328
- Trade debts -€82,015
down €82,015 (-80.0%), from €102,467 to €20,452
- Advances received +€30,364
new in 2025: €30,364
Income statement
- Gross operating margin +€152,700
up €152,700, from -€29,362 to €123,338
- Depreciation +€98,624
up €98,624 (+2,944%), from €3,351 to €101,974
- Financial charges +€41,521
up €41,521 (+7,121%), from €583 to €42,104
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.
Result 2024
-€35,956
Gross operating margin
+€152,700
Depreciation
-€98,624
Other operating charges
+€70
Financial income
+€69
Financial charges
-€41,521
Taxes
-€25
Deferred taxes and other
+€2,559
Result 2025
-€20,727
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€276,787
Investment
-€383,538
Financing
+€129,417
Cash 2024
€14,207
From operations (derived)
+€276,787
Net result for the year
-€20,727
Depreciation
+€101,974
Receivables within one year
+€238,197
Deferred charges and accrued income
-€58
Provisions
-€2,559
Trade debts
-€82,015
Advances received
+€30,364
Other debts
+€4,385
Accrued charges and deferred income
+€7,226
Investment (derived)
-€383,538
Investment in fixed assets (net)
-€383,538
Financing
+€129,417
Debts after one year
+€106,694
Current portion of long-term debt
+€22,723
Cash 2025
€36,873
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,521,212 | €2,587,303 | +€66,091 | +2.6% |
| Fixed assets | 21/28 | €2,247,568 | €2,529,132 | +€281,564 | +12.5% |
| Intangible fixed assets | 21 | - | €2,349 | +€2,349 | |
| Tangible fixed assets | 22/27 | €2,247,568 | €2,526,283 | +€278,715 | +12.4% |
| Land and buildings | 22 | €1,960 | €2,454,937 | +€2.5m | +125,180% |
| Plant, machinery and equipment | 23 | €2,174 | €24,370 | +€22,196 | +1,021% |
| Furniture and vehicles | 24 | €5,235 | €46,976 | +€41,742 | +797% |
| Assets under construction and advance payments | 27 | €2,238,200 | - | -€2.2m | |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €273,644 | €58,172 | -€215,473 | -78.7% |
| Amounts receivable within one year | 40/41 | €257,768 | €19,571 | -€238,197 | -92.4% |
| Trade receivables | 40 | €6,017 | €15,906 | +€9,889 | +164% |
| Other amounts receivable | 41 | €251,751 | €3,665 | -€248,086 | -98.5% |
| Cash at bank and in hand | 54/58 | €14,207 | €36,873 | +€22,666 | +160% |
| Deferred charges and accrued income | 490/1 | €1,670 | €1,728 | +€58 | +3.5% |
| Total equity and liabilities | 10/49 | €2,521,212 | €2,587,303 | +€66,091 | +2.6% |
| Equity | 10/15 | €62,727 | €42,000 | -€20,727 | -33.0% |
| Contributions | 10/11 | €32,227 | €32,227 | = | 0.0% |
| Reserves | 13 | €108,957 | €98,719 | -€10,238 | -9.4% |
| Tax-exempt reserves | 132 | €107,994 | €97,756 | -€10,238 | -9.5% |
| Distributable reserves | 133 | €963 | €963 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,457 | -€88,946 | -€10,489 | -13.4% |
| Provisions and deferred taxes | 16 | €35,998 | €33,438 | -€2,559 | -7.1% |
| Deferred taxes | 168 | €35,998 | €33,438 | -€2,559 | -7.1% |
| Amounts payable | 17/49 | €2,422,488 | €2,511,865 | +€89,377 | +3.7% |
| Amounts payable after more than one year | 17 | €2,289,568 | €2,396,262 | +€106,694 | +4.7% |
| Financial debts | 170/4 | €1,474,401 | €1,421,766 | -€52,635 | -3.6% |
| Other amounts payable | 178/9 | €815,167 | €974,495 | +€159,328 | +19.5% |
| Amounts payable within one year | 42/48 | €128,065 | €103,523 | -€24,543 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €25,599 | €48,322 | +€22,723 | +88.8% |
| Trade debts | 44 | €102,467 | €20,452 | -€82,015 | -80.0% |
| Suppliers | 440/4 | €102,467 | €20,452 | -€82,015 | -80.0% |
| Advances received on contracts in progress | 46 | - | €30,364 | +€30,364 | |
| Other amounts payable | 47/48 | - | €4,385 | +€4,385 | |
| Accrued charges and deferred income | 492/3 | €4,854 | €12,080 | +€7,226 | +149% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,351 | €101,974 | +€98,624 | +2,944% |
| Other operating charges | 640/8 | €2,669 | €2,599 | -€70 | -2.6% |
| Gross operating margin | 9900 | -€29,362 | €123,338 | +€152,700 | |
| Operating profit (loss) | 9901 | -€35,381 | €18,765 | +€54,146 | |
| Financial income | 75/76B | €0 | €69 | +€69 | +36,384% |
| Recurring financial income | 75 | €0 | €69 | +€69 | +36,384% |
| Financial charges | 65/66B | €583 | €42,104 | +€41,521 | +7,121% |
| Recurring financial charges | 65 | €583 | €42,104 | +€41,521 | +7,121% |
| Profit (loss) for the period before taxes | 9903 | -€35,964 | -€23,269 | +€12,695 | +35.3% |
| Transfer from deferred taxes | 780 | - | €2,559 | +€2,559 | |
| Income taxes | 67/77 | -€8 | €17 | +€25 | |
| Profit (loss) for the period | 9904 | -€35,956 | -€20,727 | +€15,229 | +42.4% |
| Transfer from tax-exempt reserves | 789 | - | €10,238 | +€10,238 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,956 | -€10,489 | +€25,467 | +70.8% |
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 1 November 2026 via checked.be.