RUDAM: 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
RUDAM
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€54,601
2024 · €1,027-€55,627
Equity
€2.9m
2024 · €2.9m-€54,601
Cash
€44,118
2024 · €72,782-€28,664
Balance sheet total
€4.7m
2024 · €4.9m-€251,766
Largest movements
Assets
- Tangible fixed assets -€223,110
down €223,110 (-4.6%), from €4.8m to €4.6m
Equity and liabilities
- Debts after one year -€171,001
down €171,001 (-11.3%), from €1.5m to €1.3m
- Accrued charges and deferred income -€100,225
no longer reported in 2025 (was €100,225)
- Other debts +€80,000
up €80,000 (+3537.1%), from €2,262 to €82,262
Income statement
- Gross operating margin -€57,937
down €57,937 (-18.8%), from €308,626 to €250,690
- Taxes -€18,023
down €18,023 (-96.8%), from €18,627 to €603
- Financial charges +€14,799
up €14,799 (+25.7%), from €57,670 to €72,469
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
€1,027
Gross operating margin
-€57,937
Depreciation
+€0
Other operating charges
-€913
Financial income
-€3
Financial charges
-€14,799
Taxes
+€18,023
Result 2025
-€54,601
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
+€142,337
Investment
€0
Financing
-€171,001
Cash 2024
€72,782
From operations (derived)
+€142,337
Net result for the year
-€54,601
Depreciation
+€223,110
Deferred charges and accrued income
-€8
Provisions
-€20,925
Trade debts
+€43,509
Tax, wage and social debts
-€28,524
Other debts
+€80,000
Accrued charges and deferred income
-€100,225
Financing
-€171,001
Debts after one year
-€171,001
Cash 2025
€44,118
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,918,177 | €4,666,410 | -€251,766 | -5.1% |
| Fixed assets | 21/28 | €4,832,802 | €4,609,692 | -€223,110 | -4.6% |
| Tangible fixed assets | 22/27 | €4,827,736 | €4,604,626 | -€223,110 | -4.6% |
| Land and buildings | 22 | €4,827,736 | €4,604,626 | -€223,110 | -4.6% |
| Financial fixed assets | 28 | €5,066 | €5,066 | = | 0.0% |
| Current assets | 29/58 | €85,374 | €56,718 | -€28,656 | -33.6% |
| Amounts receivable within one year | 40/41 | €12,592 | €12,592 | = | 0.0% |
| Other amounts receivable | 41 | €12,592 | €12,592 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €72,782 | €44,118 | -€28,664 | -39.4% |
| Deferred charges and accrued income | 490/1 | - | €8 | +€8 | |
| Total equity and liabilities | 10/49 | €4,918,177 | €4,666,410 | -€251,766 | -5.1% |
| Equity | 10/15 | €2,937,108 | €2,882,508 | -€54,601 | -1.9% |
| Contributions | 10/11 | €495,787 | €495,787 | = | 0.0% |
| Capital | 10 | €495,787 | €495,787 | = | 0.0% |
| Issued capital | 100 | €495,787 | €495,787 | = | 0.0% |
| Reserves | 13 | €661,577 | €620,777 | -€40,800 | -6.2% |
| Non-distributable reserves | 130/1 | €49,579 | €49,579 | = | 0.0% |
| Legal reserve | 130 | €49,579 | €49,579 | = | 0.0% |
| Tax-exempt reserves | 132 | €611,998 | €571,198 | -€40,800 | -6.7% |
| Profit (loss) carried forward | 14 | €1,779,744 | €1,765,944 | -€13,801 | -0.8% |
| Provisions and deferred taxes | 16 | €313,869 | €292,944 | -€20,925 | -6.7% |
| Deferred taxes | 168 | €313,869 | €292,944 | -€20,925 | -6.7% |
| Amounts payable | 17/49 | €1,667,199 | €1,490,958 | -€176,241 | -10.6% |
| Amounts payable after more than one year | 17 | €1,517,769 | €1,346,768 | -€171,001 | -11.3% |
| Financial debts | 170/4 | €1,517,769 | €1,346,768 | -€171,001 | -11.3% |
| Amounts payable within one year | 42/48 | €49,205 | €144,190 | +€94,985 | +193.0% |
| Trade debts | 44 | €18,419 | €61,928 | +€43,509 | +236.2% |
| Suppliers | 440/4 | €18,419 | €61,928 | +€43,509 | +236.2% |
| Taxes, remuneration and social security | 45 | €28,524 | - | -€28,524 | |
| Taxes | 450/3 | €28,524 | - | -€28,524 | |
| Other amounts payable | 47/48 | €2,262 | €82,262 | +€80,000 | +3537.1% |
| Accrued charges and deferred income | 492/3 | €100,225 | - | -€100,225 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €223,110 | €223,110 | -€0 | 0.0% |
| Other operating charges | 640/8 | €29,159 | €30,072 | +€913 | +3.1% |
| Gross operating margin | 9900 | €308,626 | €250,690 | -€57,937 | -18.8% |
| Operating profit (loss) | 9901 | €56,357 | -€2,493 | -€58,849 | |
| Financial income | 75/76B | €42 | €40 | -€3 | -6.4% |
| Recurring financial income | 75 | €42 | €40 | -€3 | -6.4% |
| Financial charges | 65/66B | €57,670 | €72,469 | +€14,799 | +25.7% |
| Recurring financial charges | 65 | €57,670 | €72,469 | +€14,799 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,271 | -€74,922 | -€73,651 | -5795.0% |
| Transfer from deferred taxes | 780 | €20,925 | €20,925 | = | 0.0% |
| Income taxes | 67/77 | €18,627 | €603 | -€18,023 | -96.8% |
| Profit (loss) for the period | 9904 | €1,027 | -€54,601 | -€55,627 | |
| Transfer from tax-exempt reserves | 789 | €40,800 | €40,800 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €41,827 | -€13,801 | -€55,627 |
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 3 October 2026 via checked.be.