RUDY: 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.
RUDY
Largest movements
- Tangible fixed assets +€412,467
up €412,467 (+271%), from €152,287 to €564,754
of which Land and buildings: +€368,972
- Current investments -€150,000
down €150,000 (-100%), from €150,000 to €0
- Cash -€52,726
down €52,726 (-60.6%), from €86,966 to €34,240
mainly Investment in fixed assets (net) (-€507,805) and Tax, wage and social debts (-€20,218)
- Receivables within one year +€7,047
up €7,047 (+20.2%), from €34,894 to €41,941
of which Other amounts receivable: +€7,722
- Other debts +€200,559
up €200,559 (+542%), from €37,000 to €237,559
- Tax, wage and social debts -€20,218
down €20,218 (-94.7%), from €21,357 to €1,139
of which Taxes: -€13,948
- Debts after one year +€16,020
new in 2025: €16,020
- Current portion of long-term debt +€13,255
up €13,255, from €0 to €13,255
- Depreciation +€57,445
up €57,445 (+156%), from €36,864 to €94,309
- Taxes -€29,698
down €29,698, from €22,577 to -€7,121
- Gross operating margin -€17,231
down €17,231 (-7.9%), from €217,605 to €200,374
- Other operating charges +€5,694
up €5,694 (+129%), from €4,402 to €10,096
- Staff costs +€3,056
up €3,056 (+3.3%), from €93,794 to €96,850
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 | €441,286 | €660,303 | +€219,017 | +49.6% |
| Fixed assets | 21/28 | €152,937 | €566,433 | +€413,496 | +270% |
| Tangible fixed assets | 22/27 | €152,287 | €564,754 | +€412,467 | +271% |
| Land and buildings | 22 | €54,193 | €423,164 | +€368,972 | +681% |
| Plant, machinery and equipment | 23 | €44,544 | €32,991 | -€11,554 | -25.9% |
| Furniture and vehicles | 24 | €53,551 | €108,600 | +€55,049 | +103% |
| Financial fixed assets | 28 | €650 | €1,679 | +€1,029 | +158% |
| Current assets | 29/58 | €288,349 | €93,870 | -€194,479 | -67.4% |
| Stocks and contracts in progress | 3 | €11,265 | €10,425 | -€840 | -7.5% |
| Stocks | 30/36 | €11,265 | €10,425 | -€840 | -7.5% |
| Amounts receivable within one year | 40/41 | €34,894 | €41,941 | +€7,047 | +20.2% |
| Trade receivables | 40 | €675 | €0 | -€675 | -100% |
| Other amounts receivable | 41 | €34,219 | €41,941 | +€7,722 | +22.6% |
| Current investments | 50/53 | €150,000 | €0 | -€150,000 | -100% |
| Cash at bank and in hand | 54/58 | €86,966 | €34,240 | -€52,726 | -60.6% |
| Deferred charges and accrued income | 490/1 | €5,224 | €7,264 | +€2,040 | +39.1% |
| Total equity and liabilities | 10/49 | €441,286 | €660,303 | +€219,017 | +49.6% |
| Equity | 10/15 | €358,828 | €363,649 | +€4,820 | +1.3% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €311,558 | €316,379 | +€4,820 | +1.5% |
| Tax-exempt reserves | 132 | €6,810 | €6,810 | = | 0.0% |
| Distributable reserves | 133 | €304,749 | €309,569 | +€4,820 | +1.6% |
| Profit (loss) carried forward | 14 | €22,481 | €22,481 | = | 0.0% |
| Amounts payable | 17/49 | €82,458 | €296,655 | +€214,197 | +260% |
| Amounts payable after more than one year | 17 | - | €16,020 | +€16,020 | |
| Financial debts | 170/4 | - | €16,020 | +€16,020 | |
| Amounts payable within one year | 42/48 | €82,458 | €280,635 | +€198,177 | +240% |
| Current portion of amounts payable after more than one year | 42 | €0 | €13,255 | +€13,255 | |
| Trade debts | 44 | €24,101 | €28,682 | +€4,581 | +19.0% |
| Suppliers | 440/4 | €24,101 | €28,682 | +€4,581 | +19.0% |
| Taxes, remuneration and social security | 45 | €21,357 | €1,139 | -€20,218 | -94.7% |
| Taxes | 450/3 | €15,086 | €1,139 | -€13,948 | -92.5% |
| Remuneration and social security | 454/9 | €6,271 | €0 | -€6,271 | -100% |
| Other amounts payable | 47/48 | €37,000 | €237,559 | +€200,559 | +542% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €93,794 | €96,850 | +€3,056 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,864 | €94,309 | +€57,445 | +156% |
| Other operating charges | 640/8 | €4,402 | €10,096 | +€5,694 | +129% |
| Gross operating margin | 9900 | €217,605 | €200,374 | -€17,231 | -7.9% |
| Operating profit (loss) | 9901 | €82,545 | -€880 | -€83,425 | |
| Financial income | 75/76B | €2,801 | €787 | -€2,014 | -71.9% |
| Recurring financial income | 75 | €2,801 | €787 | -€2,014 | -71.9% |
| Financial charges | 65/66B | €894 | €2,207 | +€1,313 | +147% |
| Recurring financial charges | 65 | €894 | €2,207 | +€1,313 | +147% |
| Profit (loss) for the period before taxes | 9903 | €84,452 | -€2,301 | -€86,752 | |
| Income taxes | 67/77 | €22,577 | -€7,121 | -€29,698 | |
| Profit (loss) for the period | 9904 | €61,875 | €4,820 | -€57,055 | -92.2% |
| Profit (loss) for the period to be appropriated | 9905 | €61,875 | €4,820 | -€57,055 | -92.2% |
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 17 October 2026 via checked.be.