RON DENIS: 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.
RON DENIS
Largest movements
- Cash +€20,216
up €20,216 (+125.7%), from €16,078 to €36,295
mainly Net result for the year (+€29,310) and Receivables within one year (+€5,576)
- Receivables within one year -€5,576
down €5,576 (-97.7%), from €5,707 to €131
- Tangible fixed assets +€1,147
up €1,147 (+52.9%), from €2,167 to €3,314
of which Plant, machinery and equipment: +€1,945
- Profit (loss) carried forward +€29,310
up €29,310, from -€113 to €29,197
- Debts after one year -€14,900
no longer reported in 2025 (was €14,900)
- Tax, wage and social debts +€3,132
up €3,132 (+6263.7%), from €50 to €3,182
- Trade debts -€2,788
down €2,788 (-75.3%), from €3,702 to €914
- Other debts +€1,016
up €1,016 (+51.5%), from €1,972 to €2,987
- Gross operating margin +€27,388
up €27,388 (+168.1%), from €16,290 to €43,678
- Taxes +€7,849
up €7,849 (+250.6%), from €3,133 to €10,982
- Financial charges +€1,925
up €1,925 (+367.5%), from €524 to €2,449
- Depreciation +€589
up €589 (+259.8%), from €227 to €816
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 | €25,003 | €40,791 | +€15,788 | +63.1% |
| Fixed assets | 21/28 | €3,217 | €4,364 | +€1,147 | +35.7% |
| Tangible fixed assets | 22/27 | €2,167 | €3,314 | +€1,147 | +52.9% |
| Plant, machinery and equipment | 23 | - | €1,945 | +€1,945 | |
| Furniture and vehicles | 24 | €2,167 | €1,369 | -€798 | -36.8% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €21,786 | €36,426 | +€14,640 | +67.2% |
| Amounts receivable within one year | 40/41 | €5,707 | €131 | -€5,576 | -97.7% |
| Other amounts receivable | 41 | €5,707 | €131 | -€5,576 | -97.7% |
| Cash at bank and in hand | 54/58 | €16,078 | €36,295 | +€20,216 | +125.7% |
| Total equity and liabilities | 10/49 | €25,003 | €40,791 | +€15,788 | +63.1% |
| Equity | 10/15 | €4,247 | €33,557 | +€29,310 | +690.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€113 | €29,197 | +€29,310 | |
| Amounts payable | 17/49 | €20,756 | €7,233 | -€13,522 | -65.2% |
| Amounts payable after more than one year | 17 | €14,900 | - | -€14,900 | |
| Other amounts payable | 178/9 | €14,900 | - | -€14,900 | |
| Amounts payable within one year | 42/48 | €5,723 | €7,084 | +€1,360 | +23.8% |
| Trade debts | 44 | €3,702 | €914 | -€2,788 | -75.3% |
| Suppliers | 440/4 | €3,702 | €914 | -€2,788 | -75.3% |
| Taxes, remuneration and social security | 45 | €50 | €3,182 | +€3,132 | +6263.7% |
| Taxes | 450/3 | €50 | €3,182 | +€3,132 | +6263.7% |
| Other amounts payable | 47/48 | €1,972 | €2,987 | +€1,016 | +51.5% |
| Accrued charges and deferred income | 492/3 | €132 | €150 | +€17 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €227 | €816 | +€589 | +259.8% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €16,290 | €43,678 | +€27,388 | +168.1% |
| Operating profit (loss) | 9901 | €15,558 | €42,342 | +€26,785 | +172.2% |
| Financial income | 75/76B | €654 | €398 | -€255 | -39.1% |
| Recurring financial income | 75 | €654 | €398 | -€255 | -39.1% |
| Financial charges | 65/66B | €524 | €2,449 | +€1,925 | +367.5% |
| Recurring financial charges | 65 | €524 | €2,449 | +€1,925 | +367.5% |
| Profit (loss) for the period before taxes | 9903 | €15,687 | €40,292 | +€24,605 | +156.8% |
| Income taxes | 67/77 | €3,133 | €10,982 | +€7,849 | +250.6% |
| Profit (loss) for the period | 9904 | €12,555 | €29,310 | +€16,756 | +133.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,555 | €29,310 | +€16,756 | +133.5% |
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.