RONJA: 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.
RONJA
Largest movements
- Receivables within one year +€74,219
up €74,219 (+26.0%), from €286,006 to €360,225
of which Trade receivables: +€70,572
- Cash -€22,877
down €22,877 (-31.1%), from €73,632 to €50,755
mainly Contributions, distributions and other (-€150,000) and Receivables within one year (-€74,219)
- Intangible fixed assets -€16,204
down €16,204 (-30.3%), from €53,501 to €37,297
- Current investments +€13,498
new in 2025: €13,498
- Tangible fixed assets -€8,205
down €8,205 (-16.3%), from €50,356 to €42,151
of which Other tangible fixed assets: -€4,272
- Other debts +€151,047
up €151,047 (+1,452%), from €10,400 to €161,447
- Reserves -€102,449
down €102,449 (-34.3%), from €298,283 to €195,834
- Trade debts -€9,430
down €9,430 (-9.8%), from €95,781 to €86,351
- Write-downs +€52,519
up €52,519, from -€21,808 to €30,711
- Other operating charges -€50,559
down €50,559 (-26.2%), from €192,619 to €142,060
- Gross operating margin +€38,122
up €38,122 (+16.7%), from €227,853 to €265,975
- Depreciation -€33,380
down €33,380 (-54.9%), from €60,788 to €27,409
- Financial charges +€5,312
up €5,312 (+47.5%), from €11,172 to €16,484
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 | €469,898 | €515,353 | +€45,455 | +9.7% |
| Fixed assets | 21/28 | €108,657 | €90,848 | -€17,809 | -16.4% |
| Intangible fixed assets | 21 | €53,501 | €37,297 | -€16,204 | -30.3% |
| Tangible fixed assets | 22/27 | €50,356 | €42,151 | -€8,205 | -16.3% |
| Furniture and vehicles | 24 | €9,981 | €6,048 | -€3,932 | -39.4% |
| Other tangible fixed assets | 26 | €40,375 | €36,103 | -€4,272 | -10.6% |
| Financial fixed assets | 28 | €4,800 | €11,400 | +€6,600 | +138% |
| Current assets | 29/58 | €361,241 | €424,505 | +€63,264 | +17.5% |
| Amounts receivable within one year | 40/41 | €286,006 | €360,225 | +€74,219 | +26.0% |
| Trade receivables | 40 | - | €70,572 | +€70,572 | |
| Other amounts receivable | 41 | €286,006 | €289,652 | +€3,647 | +1.3% |
| Current investments | 50/53 | - | €13,498 | +€13,498 | |
| Cash at bank and in hand | 54/58 | €73,632 | €50,755 | -€22,877 | -31.1% |
| Deferred charges and accrued income | 490/1 | €1,603 | €27 | -€1,576 | -98.3% |
| Total equity and liabilities | 10/49 | €469,898 | €515,353 | +€45,455 | +9.7% |
| Equity | 10/15 | €302,925 | €200,476 | -€102,449 | -33.8% |
| Contributions | 10/11 | €4,642 | €4,642 | = | 0.0% |
| Reserves | 13 | €298,283 | €195,834 | -€102,449 | -34.3% |
| Distributable reserves | 133 | €298,283 | €195,834 | -€102,449 | -34.3% |
| Amounts payable | 17/49 | €166,972 | €314,877 | +€147,904 | +88.6% |
| Amounts payable after more than one year | 17 | €51,319 | €49,625 | -€1,694 | -3.3% |
| Financial debts | 170/4 | €24,884 | €14,790 | -€10,094 | -40.6% |
| Other amounts payable | 178/9 | €26,435 | €34,835 | +€8,400 | +31.8% |
| Amounts payable within one year | 42/48 | €115,653 | €260,752 | +€145,098 | +125% |
| Current portion of amounts payable after more than one year | 42 | €9,312 | €10,094 | +€782 | +8.4% |
| Trade debts | 44 | €95,781 | €86,351 | -€9,430 | -9.8% |
| Suppliers | 440/4 | €95,781 | €86,351 | -€9,430 | -9.8% |
| Taxes, remuneration and social security | 45 | €160 | €2,859 | +€2,699 | +1,687% |
| Taxes | 450/3 | €160 | €2,859 | +€2,699 | +1,687% |
| Other amounts payable | 47/48 | €10,400 | €161,447 | +€151,047 | +1,452% |
| Accrued charges and deferred income | 492/3 | - | €4,500 | +€4,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,788 | €27,409 | -€33,380 | -54.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€21,808 | €30,711 | +€52,519 | |
| Other operating charges | 640/8 | €192,619 | €142,060 | -€50,559 | -26.2% |
| Gross operating margin | 9900 | €227,853 | €265,975 | +€38,122 | +16.7% |
| Operating profit (loss) | 9901 | -€3,747 | €65,795 | +€69,542 | |
| Financial income | 75/76B | €2 | €938 | +€937 | +57,118% |
| Recurring financial income | 75 | €2 | €938 | +€937 | +57,118% |
| Financial charges | 65/66B | €11,172 | €16,484 | +€5,312 | +47.5% |
| Recurring financial charges | 65 | €11,172 | €16,484 | +€5,312 | +47.5% |
| Profit (loss) for the period before taxes | 9903 | -€14,917 | €50,250 | +€65,167 | |
| Income taxes | 67/77 | €160 | €2,699 | +€2,539 | +1,587% |
| Profit (loss) for the period | 9904 | -€15,077 | €47,551 | +€62,628 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,077 | €47,551 | +€62,628 |
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 16 October 2026 via checked.be.