RONOA: 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.
RONOA
Largest movements
- Cash -€30,554
down €30,554 (-49.7%), from €61,505 to €30,952
mainly Contributions, distributions and other (-€71,721) and Investment in fixed assets (net) (-€21,848)
- Tangible fixed assets +€16,258
up €16,258 (+268.4%), from €6,057 to €22,315
of which Furniture and vehicles: +€9,158
- Receivables within one year +€3,324
up €3,324 (+5.1%), from €65,437 to €68,761
of which Trade receivables: +€5,964
- Profit (loss) carried forward -€45,385
no longer reported in 2025 (was €45,385)
- Trade debts +€13,035
up €13,035 (+926.6%), from €1,407 to €14,442
- Other debts +€11,913
up €11,913 (+18.4%), from €64,678 to €76,591
- Debts after one year +€6,482
new in 2025: €6,482
- Current portion of long-term debt +€3,843
new in 2025: €3,843
- Gross operating margin -€91,257
down €91,257 (-63.9%), from €142,772 to €51,516
- Taxes -€18,227
down €18,227 (-63.2%), from €28,863 to €10,636
- Depreciation +€3,862
up €3,862 (+223.4%), from €1,728 to €5,590
- Other operating charges +€1,448
up €1,448 (+136.5%), from €1,061 to €2,509
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 | €138,001 | €126,006 | -€11,995 | -8.7% |
| Fixed assets | 21/28 | €6,307 | €22,565 | +€16,258 | +257.8% |
| Tangible fixed assets | 22/27 | €6,057 | €22,315 | +€16,258 | +268.4% |
| Plant, machinery and equipment | 23 | €900 | €469 | -€431 | -47.9% |
| Furniture and vehicles | 24 | €5,158 | €14,316 | +€9,158 | +177.6% |
| Other tangible fixed assets | 26 | - | €7,531 | +€7,531 | |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €131,694 | €103,441 | -€28,253 | -21.5% |
| Amounts receivable within one year | 40/41 | €65,437 | €68,761 | +€3,324 | +5.1% |
| Trade receivables | 40 | €58,539 | €64,503 | +€5,964 | +10.2% |
| Other amounts receivable | 41 | €6,898 | €4,258 | -€2,640 | -38.3% |
| Cash at bank and in hand | 54/58 | €61,505 | €30,952 | -€30,554 | -49.7% |
| Deferred charges and accrued income | 490/1 | €4,751 | €3,729 | -€1,023 | -21.5% |
| Total equity and liabilities | 10/49 | €138,001 | €126,006 | -€11,995 | -8.7% |
| Equity | 10/15 | €57,150 | €11,766 | -€45,385 | -79.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €9,766 | €9,766 | = | 0.0% |
| Distributable reserves | 133 | €9,766 | €9,766 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,385 | - | -€45,385 | |
| Amounts payable | 17/49 | €80,851 | €114,241 | +€33,390 | +41.3% |
| Amounts payable after more than one year | 17 | - | €6,482 | +€6,482 | |
| Financial debts | 170/4 | - | €6,482 | +€6,482 | |
| Amounts payable within one year | 42/48 | €80,851 | €107,442 | +€26,591 | +32.9% |
| Current portion of amounts payable after more than one year | 42 | - | €3,843 | +€3,843 | |
| Trade debts | 44 | €1,407 | €14,442 | +€13,035 | +926.6% |
| Suppliers | 440/4 | €1,407 | €14,442 | +€13,035 | +926.6% |
| Taxes, remuneration and social security | 45 | €14,766 | €12,565 | -€2,201 | -14.9% |
| Taxes | 450/3 | €14,766 | €12,565 | -€2,201 | -14.9% |
| Other amounts payable | 47/48 | €64,678 | €76,591 | +€11,913 | +18.4% |
| Accrued charges and deferred income | 492/3 | - | €317 | +€317 | |
| Non-recurring operating income | 76A | - | €3,247 | +€3,247 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,728 | €5,590 | +€3,862 | +223.4% |
| Other operating charges | 640/8 | €1,061 | €2,509 | +€1,448 | +136.5% |
| Non-recurring operating charges | 66A | €3,032 | - | -€3,032 | |
| Gross operating margin | 9900 | €142,772 | €51,516 | -€91,257 | -63.9% |
| Operating profit (loss) | 9901 | €136,951 | €43,417 | -€93,534 | -68.3% |
| Financial income | 75/76B | €5 | €26 | +€21 | +412.4% |
| Recurring financial income | 75 | €5 | €26 | +€21 | +412.4% |
| Financial charges | 65/66B | €5,737 | €6,470 | +€733 | +12.8% |
| Recurring financial charges | 65 | €5,737 | €6,470 | +€733 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €131,219 | €36,973 | -€94,247 | -71.8% |
| Income taxes | 67/77 | €28,863 | €10,636 | -€18,227 | -63.2% |
| Profit (loss) for the period | 9904 | €102,356 | €26,337 | -€76,020 | -74.3% |
| Profit (loss) for the period to be appropriated | 9905 | €102,356 | €26,337 | -€76,020 | -74.3% |
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 11 October 2026 via checked.be.