Ronac: 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.
Ronac
Largest movements
- Financial fixed assets +€750,000
new in 2025: €750,000
- Cash +€151,706
up €151,706 (+207%), from €73,339 to €225,045
mainly Debts after one year (+€420,000) and Short-term financial debts (+€300,000)
- Stocks and contracts +€68,542
up €68,542 (+29.7%), from €231,035 to €299,577
- Receivables within one year -€37,270
down €37,270 (-20.6%), from €180,708 to €143,439
of which Other amounts receivable: -€21,130
- Debts after one year +€420,000
new in 2025: €420,000
- Short-term financial debts +€300,000
new in 2025: €300,000
- Other debts +€78,000
up €78,000 (+108%), from €72,000 to €150,000
- Trade debts +€53,103
up €53,103 (+20.9%), from €254,095 to €307,198
- Current portion of long-term debt +€30,000
new in 2025: €30,000
- Financial charges +€33,722
up €33,722 (+1,589%), from €2,122 to €35,843
- Gross operating margin -€14,524
down €14,524 (-18.7%), from €77,611 to €63,087
- Taxes +€6,164
up €6,164 (+1,691%), from €364 to €6,528
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 | €486,011 | €1,418,062 | +€932,050 | +192% |
| Fixed assets | 21/28 | €929 | €750,000 | +€749,071 | +80,671% |
| Tangible fixed assets | 22/27 | €929 | - | -€929 | |
| Furniture and vehicles | 24 | €929 | - | -€929 | |
| Financial fixed assets | 28 | - | €750,000 | +€750,000 | |
| Current assets | 29/58 | €485,083 | €668,062 | +€182,979 | +37.7% |
| Stocks and contracts in progress | 3 | €231,035 | €299,577 | +€68,542 | +29.7% |
| Stocks | 30/36 | €231,035 | €299,577 | +€68,542 | +29.7% |
| Amounts receivable within one year | 40/41 | €180,708 | €143,439 | -€37,270 | -20.6% |
| Trade receivables | 40 | €156,106 | €139,967 | -€16,139 | -10.3% |
| Other amounts receivable | 41 | €24,602 | €3,472 | -€21,130 | -85.9% |
| Cash at bank and in hand | 54/58 | €73,339 | €225,045 | +€151,706 | +207% |
| Total equity and liabilities | 10/49 | €486,011 | €1,418,062 | +€932,050 | +192% |
| Equity | 10/15 | €150,973 | €170,185 | +€19,212 | +12.7% |
| Contributions | 10/11 | €7,019 | €7,019 | = | 0.0% |
| Reserves | 13 | €142,500 | €163,166 | +€20,666 | +14.5% |
| Distributable reserves | 133 | €142,500 | €163,166 | +€20,666 | +14.5% |
| Profit (loss) carried forward | 14 | €1,454 | - | -€1,454 | |
| Amounts payable | 17/49 | €335,038 | €1,247,876 | +€912,838 | +272% |
| Amounts payable after more than one year | 17 | - | €420,000 | +€420,000 | |
| Financial debts | 170/4 | - | €420,000 | +€420,000 | |
| Amounts payable within one year | 42/48 | €326,459 | €798,068 | +€471,609 | +144% |
| Current portion of amounts payable after more than one year | 42 | - | €30,000 | +€30,000 | |
| Financial debts | 43 | - | €300,000 | +€300,000 | |
| Credit institutions | 430/8 | - | €300,000 | +€300,000 | |
| Trade debts | 44 | €254,095 | €307,198 | +€53,103 | +20.9% |
| Suppliers | 440/4 | €254,095 | €307,198 | +€53,103 | +20.9% |
| Taxes, remuneration and social security | 45 | €364 | €10,870 | +€10,506 | +2,883% |
| Taxes | 450/3 | €364 | €10,870 | +€10,506 | +2,883% |
| Other amounts payable | 47/48 | €72,000 | €150,000 | +€78,000 | +108% |
| Accrued charges and deferred income | 492/3 | €8,579 | €29,808 | +€21,229 | +247% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,592 | €929 | -€663 | -41.7% |
| Other operating charges | 640/8 | €560 | €575 | +€14 | +2.6% |
| Gross operating margin | 9900 | €77,611 | €63,087 | -€14,524 | -18.7% |
| Operating profit (loss) | 9901 | €75,459 | €61,584 | -€13,875 | -18.4% |
| Financial charges | 65/66B | €2,122 | €35,843 | +€33,722 | +1,589% |
| Recurring financial charges | 65 | €2,122 | €35,843 | +€33,722 | +1,589% |
| Profit (loss) for the period before taxes | 9903 | €73,337 | €25,741 | -€47,597 | -64.9% |
| Income taxes | 67/77 | €364 | €6,528 | +€6,164 | +1,691% |
| Profit (loss) for the period | 9904 | €72,973 | €19,212 | -€53,761 | -73.7% |
| Profit (loss) for the period to be appropriated | 9905 | €72,973 | €19,212 | -€53,761 | -73.7% |
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 14 October 2026 via checked.be.