RT EQUESTRIAN: what changed
RT EQUESTRIAN
Largest movements
- Receivables within one year -€6,401
down €6,401 (-64.2%), from €9,973 to €3,573
of which Trade receivables: -€6,021
- Stocks and contracts -€6,000
down €6,000 (-33.3%), from €18,000 to €12,000
- Tangible fixed assets -€3,317
down €3,317 (-11.6%), from €28,662 to €25,345
of which Furniture and vehicles: -€4,498
- Cash +€1,259
up €1,259 (+186%), from €676 to €1,936
mainly Current portion of long-term debt (+€24,710) and Depreciation (+€6,701)
- Current portion of long-term debt +€24,710
up €24,710 (+383%), from €6,447 to €31,157
- Other debts -€18,900
down €18,900 (-81.8%), from €23,100 to €4,200
- Profit (loss) carried forward -€8,082
new in 2025: -€8,082
- Debts after one year -€6,707
down €6,707 (-53.6%), from €12,503 to €5,796
- Trade debts -€5,362
down €5,362 (-83.4%), from €6,432 to €1,069
- Gross operating margin -€13,223
down €13,223 (-71.2%), from €18,564 to €5,341
- Depreciation +€4,554
up €4,554 (+212%), from €2,147 to €6,701
- Taxes -€726
down €726 (-100%), from €726 to €0
- Financial charges +€218
up €218 (+37.9%), from €575 to €793
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €57,312 | €42,984 | -€14,328 | -25.0% |
| Fixed assets | 21/28 | €28,662 | €25,345 | -€3,317 | -11.6% |
| Tangible fixed assets | 22/27 | €28,662 | €25,345 | -€3,317 | -11.6% |
| Plant, machinery and equipment | 23 | €2,803 | €3,985 | +€1,181 | +42.1% |
| Furniture and vehicles | 24 | €25,859 | €21,360 | -€4,498 | -17.4% |
| Current assets | 29/58 | €28,650 | €17,638 | -€11,011 | -38.4% |
| Stocks and contracts in progress | 3 | €18,000 | €12,000 | -€6,000 | -33.3% |
| Stocks | 30/36 | €18,000 | €12,000 | -€6,000 | -33.3% |
| Amounts receivable within one year | 40/41 | €9,973 | €3,573 | -€6,401 | -64.2% |
| Trade receivables | 40 | €9,178 | €3,158 | -€6,021 | -65.6% |
| Other amounts receivable | 41 | €795 | €415 | -€380 | -47.8% |
| Cash at bank and in hand | 54/58 | €676 | €1,936 | +€1,259 | +186% |
| Deferred charges and accrued income | 490/1 | €0 | €130 | +€130 | |
| Total equity and liabilities | 10/49 | €57,312 | €42,984 | -€14,328 | -25.0% |
| Equity | 10/15 | €6,879 | -€1,204 | -€8,082 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €5,879 | €5,879 | = | 0.0% |
| Distributable reserves | 133 | €5,879 | €5,879 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€8,082 | -€8,082 | |
| Amounts payable | 17/49 | €50,433 | €44,187 | -€6,246 | -12.4% |
| Amounts payable after more than one year | 17 | €12,503 | €5,796 | -€6,707 | -53.6% |
| Financial debts | 170/4 | €12,503 | €5,796 | -€6,707 | -53.6% |
| Amounts payable within one year | 42/48 | €37,930 | €38,392 | +€462 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €6,447 | €31,157 | +€24,710 | +383% |
| Trade debts | 44 | €6,432 | €1,069 | -€5,362 | -83.4% |
| Suppliers | 440/4 | €6,432 | €1,069 | -€5,362 | -83.4% |
| Taxes, remuneration and social security | 45 | €1,951 | €1,965 | +€14 | +0.7% |
| Taxes | 450/3 | €1,951 | €1,965 | +€14 | +0.7% |
| Other amounts payable | 47/48 | €23,100 | €4,200 | -€18,900 | -81.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,147 | €6,701 | +€4,554 | +212% |
| Other operating charges | 640/8 | €868 | €946 | +€79 | +9.1% |
| Non-recurring operating charges | 66A | €10,598 | €5,000 | -€5,598 | -52.8% |
| Gross operating margin | 9900 | €18,564 | €5,341 | -€13,223 | -71.2% |
| Operating profit (loss) | 9901 | €4,951 | -€7,306 | -€12,257 | |
| Financial income | 75/76B | €0 | €17 | +€17 | |
| Recurring financial income | 75 | €0 | €17 | +€17 | |
| Financial charges | 65/66B | €575 | €793 | +€218 | +37.9% |
| Recurring financial charges | 65 | €575 | €793 | +€218 | +37.9% |
| Profit (loss) for the period before taxes | 9903 | €4,376 | -€8,082 | -€12,458 | |
| Income taxes | 67/77 | €726 | €0 | -€726 | -100% |
| Profit (loss) for the period | 9904 | €3,650 | -€8,082 | -€11,733 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,650 | -€8,082 | -€11,733 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.