RUDAERTS: 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.
RUDAERTS
Largest movements
- Receivables within one year -€12,107
down €12,107 (-67.2%), from €18,016 to €5,909
of which Trade receivables: -€12,107
- Cash -€5,614
down €5,614 (-76.2%), from €7,367 to €1,752
mainly Net result for the year (-€14,469) and Investment in fixed assets (net) (-€5,698)
- Deferred charges and accrued income -€1,032
down €1,032 (-58.3%), from €1,769 to €737
- Reserves -€14,469
down €14,469 (-83.1%), from €17,402 to €2,933
- Other debts +€9,701
up €9,701 (+210.2%), from €4,615 to €14,316
- Trade debts -€4,757
down €4,757 (-68.3%), from €6,966 to €2,208
- Tax, wage and social debts -€4,112
down €4,112 (-64.8%), from €6,343 to €2,231
- Debts after one year -€2,294
down €2,294 (-100.0%), from €2,294 to €0
- Gross operating margin -€19,837
down €19,837, from €11,966 to -€7,870
- Taxes -€1,287
down €1,287 (-82.4%), from €1,561 to €274
- Financial income +€1,260
new in 2025: €1,260
- Other operating charges +€334
up €334 (+133.3%), from €251 to €585
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 | €52,724 | €33,982 | -€18,741 | -35.5% |
| Fixed assets | 21/28 | €25,572 | €25,583 | +€12 | 0.0% |
| Tangible fixed assets | 22/27 | €25,572 | €25,583 | +€12 | 0.0% |
| Land and buildings | 22 | €2,527 | €7,665 | +€5,137 | +203.3% |
| Plant, machinery and equipment | 23 | €11,498 | €10,041 | -€1,458 | -12.7% |
| Furniture and vehicles | 24 | €11,546 | €7,878 | -€3,668 | -31.8% |
| Current assets | 29/58 | €27,152 | €8,399 | -€18,753 | -69.1% |
| Amounts receivable within one year | 40/41 | €18,016 | €5,909 | -€12,107 | -67.2% |
| Trade receivables | 40 | €16,577 | €4,471 | -€12,107 | -73.0% |
| Other amounts receivable | 41 | €1,439 | €1,439 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €7,367 | €1,752 | -€5,614 | -76.2% |
| Deferred charges and accrued income | 490/1 | €1,769 | €737 | -€1,032 | -58.3% |
| Total equity and liabilities | 10/49 | €52,724 | €33,982 | -€18,741 | -35.5% |
| Equity | 10/15 | €27,402 | €12,933 | -€14,469 | -52.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €17,402 | €2,933 | -€14,469 | -83.1% |
| Distributable reserves | 133 | €17,402 | €2,933 | -€14,469 | -83.1% |
| Amounts payable | 17/49 | €25,321 | €21,049 | -€4,272 | -16.9% |
| Amounts payable after more than one year | 17 | €2,294 | €0 | -€2,294 | -100.0% |
| Financial debts | 170/4 | €2,294 | €0 | -€2,294 | -100.0% |
| Amounts payable within one year | 42/48 | €23,027 | €21,049 | -€1,979 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €3,846 | €2,294 | -€1,552 | -40.4% |
| Trade debts | 44 | €6,966 | €2,208 | -€4,757 | -68.3% |
| Suppliers | 440/4 | €6,966 | €2,208 | -€4,757 | -68.3% |
| Advances received on contracts in progress | 46 | €1,258 | €0 | -€1,258 | -100.0% |
| Taxes, remuneration and social security | 45 | €6,343 | €2,231 | -€4,112 | -64.8% |
| Taxes | 450/3 | €6,343 | €2,231 | -€4,112 | -64.8% |
| Other amounts payable | 47/48 | €4,615 | €14,316 | +€9,701 | +210.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,620 | €5,687 | +€67 | +1.2% |
| Other operating charges | 640/8 | €251 | €585 | +€334 | +133.3% |
| Gross operating margin | 9900 | €11,966 | -€7,870 | -€19,837 | |
| Operating profit (loss) | 9901 | €6,096 | -€14,142 | -€20,238 | |
| Financial income | 75/76B | - | €1,260 | +€1,260 | |
| Recurring financial income | 75 | - | €1,260 | +€1,260 | |
| Financial charges | 65/66B | €1,329 | €1,312 | -€17 | -1.3% |
| Recurring financial charges | 65 | €1,329 | €1,312 | -€17 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €4,766 | -€14,195 | -€18,961 | |
| Income taxes | 67/77 | €1,561 | €274 | -€1,287 | -82.4% |
| Profit (loss) for the period | 9904 | €3,205 | -€14,469 | -€17,674 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,205 | -€14,469 | -€17,674 |
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 7 October 2026 via checked.be.