RIVIER: 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.
RIVIER
Largest movements
- Tangible fixed assets +€4.1m
up €4.1m (+82.3%), from €4.9m to €9.0m
of which Assets under construction and advance payments: +€3.9m
- Receivables within one year +€353,602
up €353,602 (+559.3%), from €63,221 to €416,823
of which Other amounts receivable: +€410,773
- Cash +€277,038
up €277,038 (+810.1%), from €34,199 to €311,237
mainly Contributions, distributions and other (+€7.1m) and Trade debts (+€1.2m)
- Contributions +€7.1m
up €7.1m (+2013.8%), from €354,912 to €7.5m
- Debts after one year -€3.5m
down €3.5m (-100.0%), from €3.5m to €0
- Trade debts +€1.2m
up €1.2m (+1935.5%), from €60,984 to €1.2m
- Gross operating margin -€346,505
down €346,505 (-65.5%), from €529,104 to €182,599
- Depreciation -€73,506
down €73,506 (-30.9%), from €238,072 to €164,565
- Financial charges -€54,584
down €54,584 (-99.2%), from €55,005 to €421
- Other operating charges -€9,758
down €9,758 (-23.1%), from €42,202 to €32,444
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 | €5,039,051 | €9,753,173 | +€4.7m | +93.6% |
| Fixed assets | 21/28 | €4,940,193 | €9,007,399 | +€4.1m | +82.3% |
| Tangible fixed assets | 22/27 | €4,940,193 | €9,007,399 | +€4.1m | +82.3% |
| Land and buildings | 22 | €4,840,633 | €5,011,876 | +€171,243 | +3.5% |
| Plant, machinery and equipment | 23 | €7,516 | €5,777 | -€1,739 | -23.1% |
| Furniture and vehicles | 24 | €9,838 | €3,043 | -€6,795 | -69.1% |
| Assets under construction and advance payments | 27 | €82,206 | €3,986,703 | +€3.9m | +4749.6% |
| Current assets | 29/58 | €98,857 | €745,774 | +€646,917 | +654.4% |
| Amounts receivable within one year | 40/41 | €63,221 | €416,823 | +€353,602 | +559.3% |
| Trade receivables | 40 | €63,221 | €6,050 | -€57,171 | -90.4% |
| Other amounts receivable | 41 | - | €410,773 | +€410,773 | |
| Cash at bank and in hand | 54/58 | €34,199 | €311,237 | +€277,038 | +810.1% |
| Deferred charges and accrued income | 490/1 | €1,437 | €17,715 | +€16,278 | +1132.6% |
| Total equity and liabilities | 10/49 | €5,039,051 | €9,753,173 | +€4.7m | +93.6% |
| Equity | 10/15 | €1,183,506 | €8,317,211 | +€7.1m | +602.8% |
| Contributions | 10/11 | €354,912 | €7,501,983 | +€7.1m | +2013.8% |
| Reserves | 13 | €828,594 | €815,228 | -€13,366 | -1.6% |
| Tax-exempt reserves | 132 | €202,572 | €198,177 | -€4,395 | -2.2% |
| Distributable reserves | 133 | €626,022 | €617,051 | -€8,971 | -1.4% |
| Provisions and deferred taxes | 16 | €67,524 | €66,059 | -€1,465 | -2.2% |
| Deferred taxes | 168 | €67,524 | €66,059 | -€1,465 | -2.2% |
| Amounts payable | 17/49 | €3,788,021 | €1,369,903 | -€2.4m | -63.8% |
| Amounts payable after more than one year | 17 | €3,500,000 | €0 | -€3.5m | -100.0% |
| Financial debts | 170/4 | €3,500,000 | €0 | -€3.5m | -100.0% |
| Amounts payable within one year | 42/48 | €178,688 | €1,260,570 | +€1.1m | +605.5% |
| Trade debts | 44 | €60,984 | €1,241,342 | +€1.2m | +1935.5% |
| Suppliers | 440/4 | €60,984 | €1,241,342 | +€1.2m | +1935.5% |
| Advances received on contracts in progress | 46 | - | €5,072 | +€5,072 | |
| Taxes, remuneration and social security | 45 | €22,249 | €0 | -€22,249 | -100.0% |
| Taxes | 450/3 | €22,249 | €0 | -€22,249 | -100.0% |
| Other amounts payable | 47/48 | €95,455 | €14,156 | -€81,300 | -85.2% |
| Accrued charges and deferred income | 492/3 | €109,333 | €109,333 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €238,072 | €164,565 | -€73,506 | -30.9% |
| Other operating charges | 640/8 | €42,202 | €32,444 | -€9,758 | -23.1% |
| Gross operating margin | 9900 | €529,104 | €182,599 | -€346,505 | -65.5% |
| Operating profit (loss) | 9901 | €248,831 | -€14,410 | -€263,241 | |
| Financial charges | 65/66B | €55,005 | €421 | -€54,584 | -99.2% |
| Recurring financial charges | 65 | €55,005 | €421 | -€54,584 | -99.2% |
| Profit (loss) for the period before taxes | 9903 | €193,826 | -€14,831 | -€208,657 | |
| Transfer from deferred taxes | 780 | €1,465 | €1,465 | = | 0.0% |
| Profit (loss) for the period | 9904 | €195,291 | -€13,366 | -€208,657 | |
| Transfer from tax-exempt reserves | 789 | €4,395 | €4,395 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €199,686 | -€8,971 | -€208,657 |
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 9 October 2026 via checked.be.