RONE: 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.
RONE
Largest movements
- Receivables after one year +€250,000
new in 2025: €250,000
- Cash -€203,134
down €203,134 (-90.7%), from €224,025 to €20,890
mainly Receivables after one year (-€250,000) and Contributions, distributions and other (-€144,286)
- Receivables within one year -€64,469
down €64,469 (-98.4%), from €65,520 to €1,050
of which Other amounts receivable: -€60,658
- Tangible fixed assets -€46,155
down €46,155 (-7.9%), from €582,165 to €536,010
- Reserves -€91,937
down €91,937 (-25.9%), from €355,503 to €263,565
of which Distributable reserves: -€91,937
- Other debts +€34,042
up €34,042 (+33.1%), from €102,767 to €136,809
- Gross operating margin -€6,192
down €6,192 (-3.9%), from €158,468 to €152,276
- Depreciation -€3,643
down €3,643 (-7.1%), from €51,507 to €47,864
- Financial charges +€2,580
up €2,580 (+563.9%), from €458 to €3,037
- Write-downs +€1,799
new in 2025: €1,799
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 | €880,104 | €810,649 | -€69,455 | -7.9% |
| Fixed assets | 21/28 | €582,165 | €536,010 | -€46,155 | -7.9% |
| Tangible fixed assets | 22/27 | €582,165 | €536,010 | -€46,155 | -7.9% |
| Land and buildings | 22 | €582,165 | €536,010 | -€46,155 | -7.9% |
| Current assets | 29/58 | €297,940 | €274,639 | -€23,300 | -7.8% |
| Amounts receivable after more than one year | 29 | - | €250,000 | +€250,000 | |
| Other amounts receivable | 291 | - | €250,000 | +€250,000 | |
| Amounts receivable within one year | 40/41 | €65,520 | €1,050 | -€64,469 | -98.4% |
| Trade receivables | 40 | €3,811 | €0 | -€3,811 | -100.0% |
| Other amounts receivable | 41 | €61,709 | €1,050 | -€60,658 | -98.3% |
| Cash at bank and in hand | 54/58 | €224,025 | €20,890 | -€203,134 | -90.7% |
| Deferred charges and accrued income | 490/1 | €8,395 | €2,699 | -€5,697 | -67.9% |
| Total equity and liabilities | 10/49 | €880,104 | €810,649 | -€69,455 | -7.9% |
| Equity | 10/15 | €755,503 | €663,565 | -€91,937 | -12.2% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €355,503 | €263,565 | -€91,937 | -25.9% |
| Non-distributable reserves | 130/1 | €61,973 | €61,973 | = | 0.0% |
| Legal reserve | 130 | €61,973 | €61,973 | = | 0.0% |
| Tax-exempt reserves | 132 | €40,420 | €40,420 | = | 0.0% |
| Distributable reserves | 133 | €253,109 | €161,172 | -€91,937 | -36.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €124,602 | €147,083 | +€22,482 | +18.0% |
| Amounts payable within one year | 42/48 | €121,602 | €143,847 | +€22,245 | +18.3% |
| Trade debts | 44 | €14,635 | €7,038 | -€7,597 | -51.9% |
| Suppliers | 440/4 | €14,635 | €7,038 | -€7,597 | -51.9% |
| Taxes, remuneration and social security | 45 | €4,200 | €0 | -€4,200 | -100.0% |
| Taxes | 450/3 | €4,200 | €0 | -€4,200 | -100.0% |
| Other amounts payable | 47/48 | €102,767 | €136,809 | +€34,042 | +33.1% |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,236 | +€236 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,507 | €47,864 | -€3,643 | -7.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,799 | +€1,799 | |
| Other operating charges | 640/8 | €28,922 | €29,897 | +€975 | +3.4% |
| Gross operating margin | 9900 | €158,468 | €152,276 | -€6,192 | -3.9% |
| Operating profit (loss) | 9901 | €78,039 | €72,716 | -€5,323 | -6.8% |
| Financial income | 75/76B | €133 | €119 | -€14 | -10.3% |
| Recurring financial income | 75 | €133 | €119 | -€14 | -10.3% |
| Financial charges | 65/66B | €458 | €3,037 | +€2,580 | +563.9% |
| Recurring financial charges | 65 | €458 | €3,037 | +€2,580 | +563.9% |
| Profit (loss) for the period before taxes | 9903 | €77,715 | €69,798 | -€7,917 | -10.2% |
| Income taxes | 67/77 | €16,831 | €17,450 | +€619 | +3.7% |
| Profit (loss) for the period | 9904 | €60,884 | €52,349 | -€8,535 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €60,884 | €52,349 | -€8,535 | -14.0% |
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 8 October 2026 via checked.be.