RONA: what changed
Two fiscal 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.
RONA
Largest movements
- Tangible fixed assets -€180,937
down €180,937 (-93.7%), from €193,063 to €12,125
of which Land and buildings: -€189,784
- Receivables within one year +€32,643
up €32,643 (+341.5%), from €9,558 to €42,201
of which Trade receivables: +€25,374
- Cash +€20,881
up €20,881 (+138.0%), from €15,126 to €36,006
mainly Investment in fixed assets (net) (+€179,190) and Net result for the year (+€68,576)
- Stocks and contracts -€7,226
down €7,226 (-4.4%), from €165,685 to €158,460
- Debts after one year -€141,291
down €141,291 (-100.0%), from €141,291 to €0
- Reserves +€68,576
up €68,576 (+64.7%), from €105,975 to €174,551
of which Tax-exempt reserves: +€35,852
- Advances received -€37,153
down €37,153 (-88.1%), from €42,153 to €5,000
- Other debts -€32,987
down €32,987 (-79.8%), from €41,342 to €8,355
- Trade debts +€24,439
up €24,439 (+151.6%), from €16,121 to €40,560
- Gross operating margin +€32,492
up €32,492 (+41.4%), from €78,427 to €110,919
- Depreciation -€9,922
down €9,922 (-81.5%), from €12,169 to €2,247
- Financial charges +€6,508
up €6,508 (+114.5%), from €5,685 to €12,193
of which Financial charges: +€3,531
- Taxes -€2,528
down €2,528 (-12.7%), from €19,881 to €17,353
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 | €393,274 | €258,150 | -€135,124 | -34.4% |
| Fixed assets | 21/28 | €200,313 | €18,875 | -€181,437 | -90.6% |
| Tangible fixed assets | 22/27 | €193,063 | €12,125 | -€180,937 | -93.7% |
| Land and buildings | 22 | €190,484 | €700 | -€189,784 | -99.6% |
| Plant, machinery and equipment | 23 | €1,510 | €1,208 | -€302 | -20.0% |
| Furniture and vehicles | 24 | €1,069 | €269 | -€800 | -74.8% |
| Other tangible fixed assets | 26 | - | €9,948 | +€9,948 | |
| Financial fixed assets | 28 | €7,250 | €6,750 | -€500 | -6.9% |
| Current assets | 29/58 | €192,961 | €239,275 | +€46,314 | +24.0% |
| Stocks and contracts in progress | 3 | €165,685 | €158,460 | -€7,226 | -4.4% |
| Stocks | 30/36 | €165,685 | €158,460 | -€7,226 | -4.4% |
| Amounts receivable within one year | 40/41 | €9,558 | €42,201 | +€32,643 | +341.5% |
| Trade receivables | 40 | €9,558 | €34,933 | +€25,374 | +265.5% |
| Other amounts receivable | 41 | - | €7,268 | +€7,268 | |
| Cash at bank and in hand | 54/58 | €15,126 | €36,006 | +€20,881 | +138.0% |
| Deferred charges and accrued income | 490/1 | €2,592 | €2,608 | +€16 | +0.6% |
| Total equity and liabilities | 10/49 | €393,274 | €258,150 | -€135,124 | -34.4% |
| Equity | 10/15 | €112,175 | €180,751 | +€68,576 | +61.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €105,975 | €174,551 | +€68,576 | +64.7% |
| Tax-exempt reserves | 132 | - | €35,852 | +€35,852 | |
| Distributable reserves | 133 | €105,975 | €138,699 | +€32,724 | +30.9% |
| Provisions and deferred taxes | 16 | - | €8,963 | +€8,963 | |
| Deferred taxes | 168 | - | €8,963 | +€8,963 | |
| Amounts payable | 17/49 | €281,099 | €68,437 | -€212,662 | -75.7% |
| Amounts payable after more than one year | 17 | €141,291 | €0 | -€141,291 | -100.0% |
| Financial debts | 170/4 | €141,291 | €0 | -€141,291 | -100.0% |
| Amounts payable within one year | 42/48 | €138,020 | €66,439 | -€71,581 | -51.9% |
| Current portion of amounts payable after more than one year | 42 | €13,356 | €0 | -€13,356 | -100.0% |
| Trade debts | 44 | €16,121 | €40,560 | +€24,439 | +151.6% |
| Suppliers | 440/4 | €16,121 | €40,560 | +€24,439 | +151.6% |
| Advances received on contracts in progress | 46 | €42,153 | €5,000 | -€37,153 | -88.1% |
| Taxes, remuneration and social security | 45 | €25,048 | €12,524 | -€12,524 | -50.0% |
| Taxes | 450/3 | €25,048 | €12,524 | -€12,524 | -50.0% |
| Other amounts payable | 47/48 | €41,342 | €8,355 | -€32,987 | -79.8% |
| Accrued charges and deferred income | 492/3 | €1,788 | €1,997 | +€209 | +11.7% |
| Non-recurring operating income | 76A | - | €45,026 | +€45,026 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,169 | €2,247 | -€9,922 | -81.5% |
| Other operating charges | 640/8 | €1,032 | €1,649 | +€617 | +59.9% |
| Gross operating margin | 9900 | €78,427 | €110,919 | +€32,492 | +41.4% |
| Operating profit (loss) | 9901 | €65,226 | €107,023 | +€41,797 | +64.1% |
| Financial income | 75/76B | €48 | €61 | +€13 | +28.2% |
| Recurring financial income | 75 | €48 | €61 | +€13 | +28.2% |
| Financial charges | 65/66B | €5,685 | €12,193 | +€6,508 | +114.5% |
| Recurring financial charges | 65 | €5,685 | €9,216 | +€3,531 | +62.1% |
| Non-recurring financial charges | 66B | - | €2,977 | +€2,977 | |
| Profit (loss) for the period before taxes | 9903 | €59,589 | €94,891 | +€35,303 | +59.2% |
| Transfer from deferred taxes | 780 | - | €42 | +€42 | |
| Transfer to deferred taxes | 680 | - | €9,005 | +€9,005 | |
| Income taxes | 67/77 | €19,881 | €17,353 | -€2,528 | -12.7% |
| Profit (loss) for the period | 9904 | €39,708 | €68,576 | +€28,868 | +72.7% |
| Transfer from tax-exempt reserves | 789 | - | €169 | +€169 | |
| Transfer to tax-exempt reserves | 689 | - | €36,021 | +€36,021 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,708 | €32,724 | -€6,984 | -17.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.