RONSE: 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.
RONSE
Largest movements
- Receivables within one year -€133,716
down €133,716 (-38.8%), from €344,209 to €210,493
of which Trade receivables: -€200,192
- Cash +€110,568
new in 2025: €110,568
mainly Net result for the year (+€226,005) and Receivables within one year (+€133,716)
- Reserves +€226,005
up €226,005 (+5.8%), from €3.9m to €4.1m
of which Distributable reserves: +€424,754
- Trade debts -€95,144
down €95,144 (-57.7%), from €165,025 to €69,881
- Financial income -€151,948
down €151,948 (-96.6%), from €157,374 to €5,426
of which Non-recurring financial income: -€157,374
- Taxes -€42,392
down €42,392 (-33.6%), from €126,183 to €83,791
- Gross operating margin +€27,365
up €27,365 (+4.3%), from €635,312 to €662,677
- Depreciation +€13,096
up €13,096 (+16.2%), from €80,883 to €93,978
- Staff costs +€10,438
up €10,438 (+4.4%), from €237,678 to €248,116
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 | €8,729,447 | €8,736,185 | +€6,738 | +0.1% |
| Fixed assets | 21/28 | €7,897,153 | €7,901,551 | +€4,398 | +0.1% |
| Tangible fixed assets | 22/27 | €1,325,873 | €1,330,271 | +€4,398 | +0.3% |
| Land and buildings | 22 | €1,311,547 | €1,244,045 | -€67,502 | -5.1% |
| Furniture and vehicles | 24 | €14,325 | €86,226 | +€71,900 | +502% |
| Financial fixed assets | 28 | €6,571,280 | €6,571,280 | = | 0.0% |
| Current assets | 29/58 | €832,294 | €834,634 | +€2,340 | +0.3% |
| Amounts receivable within one year | 40/41 | €344,209 | €210,493 | -€133,716 | -38.8% |
| Trade receivables | 40 | €344,209 | €144,017 | -€200,192 | -58.2% |
| Other amounts receivable | 41 | - | €66,476 | +€66,476 | |
| Current investments | 50/53 | €470,054 | €500,000 | +€29,946 | +6.4% |
| Cash at bank and in hand | 54/58 | - | €110,568 | +€110,568 | |
| Deferred charges and accrued income | 490/1 | €18,031 | €13,573 | -€4,458 | -24.7% |
| Total equity and liabilities | 10/49 | €8,729,447 | €8,736,185 | +€6,738 | +0.1% |
| Equity | 10/15 | €7,182,547 | €7,408,551 | +€226,005 | +3.1% |
| Contributions | 10/11 | €3,278,531 | €3,278,531 | = | 0.0% |
| Capital | 10 | €3,278,531 | €3,278,531 | = | 0.0% |
| Issued capital | 100 | €3,278,531 | €3,278,531 | = | 0.0% |
| Reserves | 13 | €3,904,016 | €4,130,020 | +€226,005 | +5.8% |
| Non-distributable reserves | 130/1 | €42,453 | €327,853 | +€285,401 | +672% |
| Legal reserve | 130 | €42,453 | €327,853 | +€285,401 | +672% |
| Tax-exempt reserves | 132 | €484,366 | €216 | -€484,150 | -100.0% |
| Distributable reserves | 133 | €3,377,198 | €3,801,952 | +€424,754 | +12.6% |
| Amounts payable | 17/49 | €1,546,900 | €1,327,634 | -€219,266 | -14.2% |
| Amounts payable after more than one year | 17 | €1,210,757 | €1,168,204 | -€42,552 | -3.5% |
| Financial debts | 170/4 | €21,928 | €11,178 | -€10,751 | -49.0% |
| Other amounts payable | 178/9 | €1,188,828 | €1,157,027 | -€31,802 | -2.7% |
| Amounts payable within one year | 42/48 | €334,820 | €159,282 | -€175,537 | -52.4% |
| Current portion of amounts payable after more than one year | 42 | €33,368 | €10,751 | -€22,617 | -67.8% |
| Financial debts | 43 | €31,778 | €33,667 | +€1,889 | +5.9% |
| Credit institutions | 430/8 | €31,778 | €33,667 | +€1,889 | +5.9% |
| Trade debts | 44 | €165,025 | €69,881 | -€95,144 | -57.7% |
| Suppliers | 440/4 | €165,025 | €69,881 | -€95,144 | -57.7% |
| Taxes, remuneration and social security | 45 | €104,649 | €44,983 | -€59,666 | -57.0% |
| Taxes | 450/3 | €68,363 | €16,155 | -€52,207 | -76.4% |
| Remuneration and social security | 454/9 | €36,287 | €28,828 | -€7,459 | -20.6% |
| Accrued charges and deferred income | 492/3 | €1,324 | €147 | -€1,177 | -88.9% |
| Non-recurring operating income | 76A | €70 | €6,612 | +€6,542 | +9,345% |
| Remuneration, social security and pensions | 62 | €237,678 | €248,116 | +€10,438 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,883 | €93,978 | +€13,096 | +16.2% |
| Other operating charges | 640/8 | €8,132 | €7,062 | -€1,070 | -13.2% |
| Non-recurring operating charges | 66A | €6,527 | €1,519 | -€5,008 | -76.7% |
| Gross operating margin | 9900 | €635,312 | €662,677 | +€27,365 | +4.3% |
| Operating profit (loss) | 9901 | €302,093 | €312,002 | +€9,909 | +3.3% |
| Financial income | 75/76B | €157,374 | €5,426 | -€151,948 | -96.6% |
| Recurring financial income | 75 | €157,374 | €5,426 | -€151,948 | -96.6% |
| Non-recurring financial income | 76B | €157,374 | - | -€157,374 | |
| Financial charges | 65/66B | €8,360 | €7,633 | -€728 | -8.7% |
| Recurring financial charges | 65 | €8,360 | €7,633 | -€728 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €451,107 | €309,796 | -€141,311 | -31.3% |
| Income taxes | 67/77 | €126,183 | €83,791 | -€42,392 | -33.6% |
| Profit (loss) for the period | 9904 | €324,924 | €226,005 | -€98,919 | -30.4% |
| Transfer from tax-exempt reserves | 789 | €168,400 | €484,150 | +€315,750 | +188% |
| Profit (loss) for the period to be appropriated | 9905 | €493,324 | €710,155 | +€216,831 | +44.0% |
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 20 October 2026 via checked.be.