RONIN: what changed
What changed
RONIN
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€31,195
2025 · €38,813-€7,618
Equity
€290,137
2025 · €264,943+€25,195
Cash
€159,363
2025 · €100,725+€58,638
Balance sheet total
€307,130
2025 · €308,124-€994
Largest movements
Assets
- Cash +€58,638
up €58,638 (+58.2%), from €100,725 to €159,363
mainly Receivables within one year (+€57,220) and Net result for the year (+€31,195)
- Receivables within one year -€57,220
down €57,220 (-79.9%), from €71,575 to €14,355
Equity and liabilities
- Reserves +€25,195
up €25,195 (+11.6%), from €217,273 to €242,468
- Tax, wage and social debts -€21,808
down €21,808 (-72.8%), from €29,939 to €8,132
- Other debts -€3,993
down €3,993 (-93.7%), from €4,263 to €271
Income statement
- Gross operating margin -€7,180
down €7,180 (-12.1%), from €59,548 to €52,368
- Taxes +€877
up €877 (+5.0%), from €17,671 to €18,547
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€38,813
Gross operating margin
-€7,180
Depreciation
+€171
Other operating charges
+€150
Financial income
-€5
Financial charges
+€121
Taxes
-€877
Result 2026
€31,195
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€64,638
Investment
€0
Financing
-€6,000
Cash 2025
€100,725
From operations (derived)
+€64,638
Net result for the year
+€31,195
Depreciation
+€2,829
Receivables within one year
+€57,220
Deferred charges and accrued income
-€416
Trade debts
-€389
Tax, wage and social debts
-€21,808
Other debts
-€3,993
Financing
-€6,000
Contributions, distributions and other
-€6,000
Cash 2026
€159,363
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €308,124 | €307,130 | -€994 | -0.3% |
| Fixed assets | 21/28 | €3,012 | €183 | -€2,829 | -93.9% |
| Tangible fixed assets | 22/27 | €3,012 | €183 | -€2,829 | -93.9% |
| Plant, machinery and equipment | 23 | €633 | - | -€633 | |
| Furniture and vehicles | 24 | €2,379 | €183 | -€2,196 | -92.3% |
| Current assets | 29/58 | €305,113 | €306,947 | +€1,834 | +0.6% |
| Amounts receivable after more than one year | 29 | €130,000 | €130,000 | = | 0.0% |
| Other amounts receivable | 291 | €130,000 | €130,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €71,575 | €14,355 | -€57,220 | -79.9% |
| Trade receivables | 40 | €71,575 | €14,355 | -€57,220 | -79.9% |
| Cash at bank and in hand | 54/58 | €100,725 | €159,363 | +€58,638 | +58.2% |
| Deferred charges and accrued income | 490/1 | €2,812 | €3,229 | +€416 | +14.8% |
| Total equity and liabilities | 10/49 | €308,124 | €307,130 | -€994 | -0.3% |
| Equity | 10/15 | €264,943 | €290,137 | +€25,195 | +9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €217,273 | €242,468 | +€25,195 | +11.6% |
| Distributable reserves | 133 | €217,273 | €242,468 | +€25,195 | +11.6% |
| Profit (loss) carried forward | 14 | €29,070 | €29,070 | = | 0.0% |
| Amounts payable | 17/49 | €43,181 | €16,992 | -€26,189 | -60.6% |
| Amounts payable within one year | 42/48 | €43,181 | €16,992 | -€26,189 | -60.6% |
| Trade debts | 44 | €8,979 | €8,590 | -€389 | -4.3% |
| Suppliers | 440/4 | €8,979 | €8,590 | -€389 | -4.3% |
| Taxes, remuneration and social security | 45 | €29,939 | €8,132 | -€21,808 | -72.8% |
| Taxes | 450/3 | €29,939 | €8,132 | -€21,808 | -72.8% |
| Other amounts payable | 47/48 | €4,263 | €271 | -€3,993 | -93.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,000 | €2,829 | -€171 | -5.7% |
| Other operating charges | 640/8 | €1,713 | €1,562 | -€150 | -8.8% |
| Gross operating margin | 9900 | €59,548 | €52,368 | -€7,180 | -12.1% |
| Operating profit (loss) | 9901 | €54,836 | €47,977 | -€6,858 | -12.5% |
| Financial income | 75/76B | €1,955 | €1,950 | -€5 | -0.3% |
| Recurring financial income | 75 | €1,955 | €1,950 | -€5 | -0.3% |
| Financial charges | 65/66B | €307 | €185 | -€121 | -39.6% |
| Recurring financial charges | 65 | €307 | €185 | -€121 | -39.6% |
| Profit (loss) for the period before taxes | 9903 | €56,484 | €49,742 | -€6,742 | -11.9% |
| Income taxes | 67/77 | €17,671 | €18,547 | +€877 | +5.0% |
| Profit (loss) for the period | 9904 | €38,813 | €31,195 | -€7,618 | -19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €38,813 | €31,195 | -€7,618 | -19.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.