RONNY ALBRECHT: 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.
RONNY ALBRECHT
Largest movements
- Receivables within one year +€35,547
up €35,547 (+152%), from €23,333 to €58,880
of which Trade receivables: +€33,005
- Stocks and contracts -€17,100
down €17,100 (-77.4%), from €22,100 to €5,000
of which Contracts in progress: -€13,000
- Tangible fixed assets -€12,380
down €12,380 (-11.9%), from €104,130 to €91,750
of which Land and buildings: -€11,643
- Cash +€5,765
up €5,765 (+114%), from €5,038 to €10,804
mainly Stocks and contracts (+€17,100) and Trade debts (+€12,671)
- Trade debts +€12,671
up €12,671 (+63.1%), from €20,067 to €32,738
- Profit (loss) carried forward -€8,372
down €8,372 (-37.7%), from -€22,188 to -€30,560
- Debts after one year +€4,741
up €4,741 (+3.5%), from €133,602 to €138,343
of which Other amounts payable: +€14,644
- Advances received +€3,200
up €3,200 (+246%), from €1,300 to €4,500
- Gross operating margin -€12,398
down €12,398 (-60.2%), from €20,580 to €8,182
- Other operating charges -€717
down €717 (-22.0%), from €3,265 to €2,548
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 | €156,822 | €169,184 | +€12,362 | +7.9% |
| Fixed assets | 21/28 | €104,588 | €92,090 | -€12,498 | -11.9% |
| Tangible fixed assets | 22/27 | €104,130 | €91,750 | -€12,380 | -11.9% |
| Land and buildings | 22 | €101,216 | €89,573 | -€11,643 | -11.5% |
| Furniture and vehicles | 24 | €2,914 | €2,178 | -€737 | -25.3% |
| Financial fixed assets | 28 | €458 | €340 | -€118 | -25.8% |
| Current assets | 29/58 | €52,233 | €77,094 | +€24,860 | +47.6% |
| Stocks and contracts in progress | 3 | €22,100 | €5,000 | -€17,100 | -77.4% |
| Stocks | 30/36 | €9,100 | €5,000 | -€4,100 | -45.1% |
| Contracts in progress | 37 | €13,000 | €0 | -€13,000 | -100% |
| Amounts receivable within one year | 40/41 | €23,333 | €58,880 | +€35,547 | +152% |
| Trade receivables | 40 | €22,232 | €55,237 | +€33,005 | +148% |
| Other amounts receivable | 41 | €1,101 | €3,643 | +€2,542 | +231% |
| Cash at bank and in hand | 54/58 | €5,038 | €10,804 | +€5,765 | +114% |
| Deferred charges and accrued income | 490/1 | €1,762 | €2,410 | +€647 | +36.7% |
| Total equity and liabilities | 10/49 | €156,822 | €169,184 | +€12,362 | +7.9% |
| Equity | 10/15 | -€7,928 | -€16,300 | -€8,372 | -106% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,188 | -€30,560 | -€8,372 | -37.7% |
| Amounts payable | 17/49 | €164,750 | €185,484 | +€20,734 | +12.6% |
| Amounts payable after more than one year | 17 | €133,602 | €138,343 | +€4,741 | +3.5% |
| Financial debts | 170/4 | €89,158 | €79,255 | -€9,903 | -11.1% |
| Other amounts payable | 178/9 | €44,444 | €59,088 | +€14,644 | +32.9% |
| Amounts payable within one year | 42/48 | €31,147 | €47,141 | +€15,993 | +51.3% |
| Current portion of amounts payable after more than one year | 42 | €9,781 | €9,903 | +€123 | +1.3% |
| Trade debts | 44 | €20,067 | €32,738 | +€12,671 | +63.1% |
| Suppliers | 440/4 | €20,067 | €32,738 | +€12,671 | +63.1% |
| Advances received on contracts in progress | 46 | €1,300 | €4,500 | +€3,200 | +246% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €98 | €0 | -€98 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,440 | €12,380 | -€60 | -0.5% |
| Other operating charges | 640/8 | €3,265 | €2,548 | -€717 | -22.0% |
| Gross operating margin | 9900 | €20,580 | €8,182 | -€12,398 | -60.2% |
| Operating profit (loss) | 9901 | €4,776 | -€6,746 | -€11,522 | |
| Financial income | 75/76B | €75 | €9 | -€66 | -88.3% |
| Recurring financial income | 75 | €75 | €9 | -€66 | -88.3% |
| Financial charges | 65/66B | €1,737 | €1,635 | -€102 | -5.9% |
| Recurring financial charges | 65 | €1,737 | €1,635 | -€102 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €3,115 | -€8,372 | -€11,486 | |
| Profit (loss) for the period | 9904 | €3,115 | -€8,372 | -€11,486 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,115 | -€8,372 | -€11,486 |
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 26 October 2026 via checked.be.