RUFUS: 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.
RUFUS
Largest movements
- Cash +€128,566
up €128,566 (+12.8%), from €1.0m to €1.1m
mainly Net result for the year (+€259,562) and Depreciation (+€80,862)
- Stocks and contracts +€70,290
up €70,290 (+18.1%), from €388,987 to €459,277
- Receivables within one year +€32,673
up €32,673 (+133.9%), from €24,406 to €57,078
of which Trade receivables: +€21,289
- Reserves +€259,562
up €259,562 (+15.9%), from €1.6m to €1.9m
of which Distributable reserves: +€259,562
- Other debts -€70,987
down €70,987 (-74.7%), from €94,991 to €24,004
- Trade debts +€44,300
up €44,300 (+83.9%), from €52,799 to €97,098
- Staff costs +€26,790
up €26,790 (+11.1%), from €242,335 to €269,125
- Gross operating margin -€22,550
down €22,550 (-3.2%), from €708,122 to €685,572
- Taxes -€16,893
down €16,893 (-13.0%), from €129,495 to €112,602
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 | €1,958,933 | €2,180,286 | +€221,354 | +11.3% |
| Fixed assets | 21/28 | €438,111 | €450,309 | +€12,198 | +2.8% |
| Tangible fixed assets | 22/27 | €438,111 | €450,309 | +€12,198 | +2.8% |
| Land and buildings | 22 | €254,747 | €256,075 | +€1,328 | +0.5% |
| Plant, machinery and equipment | 23 | €177,025 | €187,545 | +€10,520 | +5.9% |
| Furniture and vehicles | 24 | €6,339 | €6,689 | +€350 | +5.5% |
| Current assets | 29/58 | €1,520,822 | €1,729,977 | +€209,156 | +13.8% |
| Amounts receivable after more than one year | 29 | €84,753 | €74,828 | -€9,925 | -11.7% |
| Other amounts receivable | 291 | €84,753 | €74,828 | -€9,925 | -11.7% |
| Stocks and contracts in progress | 3 | €388,987 | €459,277 | +€70,290 | +18.1% |
| Stocks | 30/36 | €388,987 | €459,277 | +€70,290 | +18.1% |
| Amounts receivable within one year | 40/41 | €24,406 | €57,078 | +€32,673 | +133.9% |
| Trade receivables | 40 | €14,585 | €35,874 | +€21,289 | +146.0% |
| Other amounts receivable | 41 | €9,820 | €21,204 | +€11,384 | +115.9% |
| Cash at bank and in hand | 54/58 | €1,003,054 | €1,131,620 | +€128,566 | +12.8% |
| Deferred charges and accrued income | 490/1 | €19,621 | €7,174 | -€12,447 | -63.4% |
| Total equity and liabilities | 10/49 | €1,958,933 | €2,180,286 | +€221,354 | +11.3% |
| Equity | 10/15 | €1,693,348 | €1,952,910 | +€259,562 | +15.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,631,348 | €1,890,910 | +€259,562 | +15.9% |
| Non-distributable reserves | 130/1 | €13,640 | €13,640 | = | 0.0% |
| Legal reserve | 130 | €13,640 | €13,640 | = | 0.0% |
| Tax-exempt reserves | 132 | €357,850 | €357,850 | = | 0.0% |
| Distributable reserves | 133 | €1,259,858 | €1,519,419 | +€259,562 | +20.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €265,585 | €227,377 | -€38,208 | -14.4% |
| Amounts payable within one year | 42/48 | €257,698 | €224,195 | -€33,502 | -13.0% |
| Trade debts | 44 | €52,799 | €97,098 | +€44,300 | +83.9% |
| Suppliers | 440/4 | €52,799 | €97,098 | +€44,300 | +83.9% |
| Advances received on contracts in progress | 46 | €400 | €400 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €109,508 | €102,693 | -€6,815 | -6.2% |
| Taxes | 450/3 | €65,048 | €56,956 | -€8,092 | -12.4% |
| Remuneration and social security | 454/9 | €44,460 | €45,737 | +€1,277 | +2.9% |
| Other amounts payable | 47/48 | €94,991 | €24,004 | -€70,987 | -74.7% |
| Accrued charges and deferred income | 492/3 | €7,887 | €3,181 | -€4,706 | -59.7% |
| Non-recurring operating income | 76A | €1,807 | €0 | -€1,807 | -100.0% |
| Remuneration, social security and pensions | 62 | €242,335 | €269,125 | +€26,790 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,567 | €80,862 | +€2,295 | +2.9% |
| Other operating charges | 640/8 | €11,111 | €11,969 | +€858 | +7.7% |
| Gross operating margin | 9900 | €708,122 | €685,572 | -€22,550 | -3.2% |
| Operating profit (loss) | 9901 | €376,109 | €323,616 | -€52,493 | -14.0% |
| Financial income | 75/76B | €52,498 | €57,557 | +€5,059 | +9.6% |
| Recurring financial income | 75 | €52,498 | €57,557 | +€5,059 | +9.6% |
| Financial charges | 65/66B | €6,576 | €9,009 | +€2,433 | +37.0% |
| Recurring financial charges | 65 | €6,576 | €9,009 | +€2,433 | +37.0% |
| Profit (loss) for the period before taxes | 9903 | €422,031 | €372,164 | -€49,867 | -11.8% |
| Income taxes | 67/77 | €129,495 | €112,602 | -€16,893 | -13.0% |
| Profit (loss) for the period | 9904 | €292,536 | €259,562 | -€32,974 | -11.3% |
| Transfer from tax-exempt reserves | 789 | €96,830 | €0 | -€96,830 | -100.0% |
| Transfer to tax-exempt reserves | 689 | €105,250 | €0 | -€105,250 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €284,116 | €259,562 | -€24,554 | -8.6% |
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 6 October 2026 via checked.be.