RUCO: what changed
Two fiscal 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.
What changed
RUCO
NACE 73.200, Market research and public opinion polling
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€11.9m
2024 · €16.0m-€4.1m
Equity
€214.8m
2024 · €202.9m+€11.9m
Cash
€697,289
2024 · €839,718-€142,429
Balance sheet total
€226.6m
2024 · €215.8m+€10.8m
Largest movements
Assets
- Current investments +€14.1m
up €14.1m (+14.1%), from €100.3m to €114.5m
- Receivables within one year -€3.0m
down €3.0m (-82.8%), from €3.6m to €623,329
of which Other amounts receivable: -€2.9m
Equity and liabilities
- Reserves +€11.9m
up €11.9m (+6.2%), from €193.1m to €205.0m
of which Distributable reserves: +€12.4m
Income statement
- Financial income -€6.2m
down €6.2m (-33.3%), from €18.7m to €12.5m
- Financial charges -€1.1m
down €1.1m (-69.6%), from €1.5m to €459,644
- Turnover +€316,710
up €316,710 (+17.0%), from €1.9m to €2.2m
- Taxes -€248,796
down €248,796 (-25.3%), from €983,947 to €735,151
of which Taxes: -€249,873
- Services and other goods +€248,476
up €248,476 (+60.5%), from €411,036 to €659,511
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.
Result 2024
€16.0m
Turnover
+€316,710
Other operating income
-€1,400
Services and other goods
-€248,476
Staff costs
-€103,089
Depreciation
-€148
Other operating charges
-€7,750
Financial income
-€6.2m
Financial charges
+€1.1m
Taxes
+€248,796
Deferred taxes and other
+€842,000
Result 2025
€11.9m
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.
From operations
+€14.0m
Investment
-€14.1m
Financing
-€9,233
Cash 2024
€839,718
From operations (derived)
+€14.0m
Net result for the year
+€11.9m
Depreciation
+€6,143
Receivables within one year
+€3.0m
Deferred charges and accrued income
+€161,797
Smaller working-capital items
-€5,835
Other debts
-€192,000
Accrued charges and deferred income
-€909,747
Investment (derived)
-€14.1m
Investment in fixed assets (net)
+€40,935
Current investments
-€14.1m
Financing
-€9,233
Debts after one year
-€9,233
Cash 2025
€697,289
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €215,816,819 | €226,595,333 | +€10.8m | +5.0% |
| Fixed assets | 21/28 | €110,254,412 | €110,207,334 | -€47,078 | 0.0% |
| Tangible fixed assets | 22/27 | €21,025 | €15,757 | -€5,268 | -25.1% |
| Furniture and vehicles | 24 | €21,025 | €15,030 | -€5,995 | -28.5% |
| Other tangible fixed assets | 26 | - | €727 | +€727 | |
| Financial fixed assets | 28 | €110,233,387 | €110,191,577 | -€41,810 | 0.0% |
| Affiliated companies | 280/1 | €110,233,387 | €110,191,577 | -€41,810 | 0.0% |
| Participating interests | 280 | €100,357,428 | €100,357,428 | = | 0.0% |
| Amounts receivable | 281 | €9,875,959 | €9,834,149 | -€41,810 | -0.4% |
| Current assets | 29/58 | €105,562,407 | €116,388,000 | +€10.8m | +10.3% |
| Amounts receivable within one year | 40/41 | €3,629,439 | €623,329 | -€3.0m | -82.8% |
| Trade receivables | 40 | €271,871 | €174,353 | -€97,518 | -35.9% |
| Other amounts receivable | 41 | €3,357,568 | €448,976 | -€2.9m | -86.6% |
| Current investments | 50/53 | €100,348,858 | €114,484,787 | +€14.1m | +14.1% |
| Other investments | 51/53 | €100,348,858 | €114,484,787 | +€14.1m | +14.1% |
| Cash at bank and in hand | 54/58 | €839,718 | €697,289 | -€142,429 | -17.0% |
| Deferred charges and accrued income | 490/1 | €744,392 | €582,595 | -€161,797 | -21.7% |
| Total equity and liabilities | 10/49 | €215,816,819 | €226,595,333 | +€10.8m | +5.0% |
| Equity | 10/15 | €202,921,491 | €214,816,820 | +€11.9m | +5.9% |
| Contributions | 10/11 | €9,800,000 | €9,800,000 | = | 0.0% |
| Capital | 10 | €9,800,000 | €9,800,000 | = | 0.0% |
| Issued capital | 100 | €9,800,000 | €9,800,000 | = | 0.0% |
| Reserves | 13 | €193,121,491 | €205,016,820 | +€11.9m | +6.2% |
| Non-distributable reserves | 130/1 | €1,001,944 | €1,001,944 | = | 0.0% |
| Legal reserve | 130 | €980,000 | €980,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €21,944 | €21,944 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,269,613 | €2,811,981 | -€457,631 | -14.0% |
| Distributable reserves | 133 | €188,849,934 | €201,202,895 | +€12.4m | +6.5% |
| Amounts payable | 17/49 | €12,895,328 | €11,778,513 | -€1.1m | -8.7% |
| Amounts payable after more than one year | 17 | €9,233 | - | -€9,233 | |
| Other amounts payable | 178/9 | €9,233 | - | -€9,233 | |
| Amounts payable within one year | 42/48 | €11,784,997 | €11,587,162 | -€197,835 | -1.7% |
| Trade debts | 44 | €71,829 | €75,530 | +€3,701 | +5.2% |
| Suppliers | 440/4 | €71,829 | €75,530 | +€3,701 | +5.2% |
| Taxes, remuneration and social security | 45 | €165,168 | €155,632 | -€9,536 | -5.8% |
| Taxes | 450/3 | €64,167 | €51,457 | -€12,711 | -19.8% |
| Remuneration and social security | 454/9 | €101,000 | €104,175 | +€3,174 | +3.1% |
| Other amounts payable | 47/48 | €11,548,000 | €11,356,000 | -€192,000 | -1.7% |
| Accrued charges and deferred income | 492/3 | €1,101,098 | €191,351 | -€909,747 | -82.6% |
| Operating income | 70/76A | €1,900,626 | €2,215,937 | +€315,311 | +16.6% |
| Turnover | 70 | €1,864,112 | €2,180,823 | +€316,710 | +17.0% |
| Other operating income | 74 | €36,514 | €35,115 | -€1,400 | -3.8% |
| Operating charges | 60/66A | €1,216,780 | €1,576,243 | +€359,462 | +29.5% |
| Services and other goods | 61 | €411,036 | €659,511 | +€248,476 | +60.5% |
| Remuneration, social security and pensions | 62 | €691,359 | €794,448 | +€103,089 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,995 | €6,143 | +€148 | +2.5% |
| Other operating charges | 640/8 | €108,390 | €116,140 | +€7,750 | +7.2% |
| Operating profit (loss) | 9901 | €683,846 | €639,694 | -€44,152 | -6.5% |
| Financial income | 75/76B | €18,677,052 | €12,450,430 | -€6.2m | -33.3% |
| Recurring financial income | 75 | €18,677,052 | €12,450,430 | -€6.2m | -33.3% |
| Income from financial fixed assets | 750 | €11,313,141 | €11,087,863 | -€225,278 | -2.0% |
| Income from current assets | 751 | €2,253,895 | €994,985 | -€1.3m | -55.9% |
| Other financial income | 752/9 | €5,110,016 | €367,582 | -€4.7m | -92.8% |
| Financial charges | 65/66B | €1,514,159 | €459,644 | -€1.1m | -69.6% |
| Recurring financial charges | 65 | €1,514,159 | €459,644 | -€1.1m | -69.6% |
| Debt charges | 650 | €1,188,615 | €213,596 | -€975,020 | -82.0% |
| Other financial charges | 652/9 | €325,544 | €246,048 | -€79,496 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €17,846,739 | €12,630,480 | -€5.2m | -29.2% |
| Transfer to deferred taxes | 680 | €842,000 | - | -€842,000 | |
| Income taxes | 67/77 | €983,947 | €735,151 | -€248,796 | -25.3% |
| Taxes | 670/3 | €985,023 | €735,151 | -€249,873 | -25.4% |
| Tax adjustments and reversals of tax provisions | 77 | €1,077 | - | -€1,077 | |
| Profit (loss) for the period | 9904 | €16,020,793 | €11,895,330 | -€4.1m | -25.8% |
| Transfer from tax-exempt reserves | 789 | €1,170,380 | €1,299,631 | +€129,251 | +11.0% |
| Transfer to tax-exempt reserves | 689 | - | €842,000 | +€842,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,191,173 | €12,352,961 | -€4.8m | -28.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.