RUGO: 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.
RUGO
Largest movements
- Tangible fixed assets +€488,465
up €488,465 (+9.4%), from €5.2m to €5.7m
of which Land and buildings: +€442,012
- Receivables within one year +€124,393
up €124,393 (+474%), from €26,250 to €150,643
of which Trade receivables: +€124,388
- Current investments -€70,000
no longer reported in 2025 (was €70,000)
- Debts after one year +€659,307
up €659,307 (+12.6%), from €5.2m to €5.9m
- Profit (loss) carried forward -€191,253
down €191,253 (-18.3%), from -€1.0m to -€1.2m
- Accrued charges and deferred income +€108,551
up €108,551 (+48.5%), from €223,626 to €332,177
- Gross operating margin +€247,406
up €247,406 (+147%), from €168,091 to €415,497
- Depreciation +€64,714
up €64,714 (+19.9%), from €325,402 to €390,116
- Financial charges +€16,252
up €16,252 (+11.1%), from €146,419 to €162,671
- Other operating charges +€11,352
up €11,352 (+26.6%), from €42,628 to €53,980
- Financial income -€6,087
down €6,087 (-99.7%), from €6,104 to €17
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 | €5,345,440 | €5,926,794 | +€581,354 | +10.9% |
| Fixed assets | 21/28 | €5,221,590 | €5,710,055 | +€488,465 | +9.4% |
| Tangible fixed assets | 22/27 | €5,221,590 | €5,710,055 | +€488,465 | +9.4% |
| Land and buildings | 22 | €5,154,696 | €5,596,708 | +€442,012 | +8.6% |
| Plant, machinery and equipment | 23 | €66,894 | €93,199 | +€26,305 | +39.3% |
| Furniture and vehicles | 24 | - | €20,148 | +€20,148 | |
| Current assets | 29/58 | €123,850 | €216,739 | +€92,889 | +75.0% |
| Amounts receivable within one year | 40/41 | €26,250 | €150,643 | +€124,393 | +474% |
| Trade receivables | 40 | €25,894 | €150,282 | +€124,388 | +480% |
| Other amounts receivable | 41 | €356 | €361 | +€5 | +1.4% |
| Current investments | 50/53 | €70,000 | - | -€70,000 | |
| Cash at bank and in hand | 54/58 | €4,157 | €42,013 | +€37,856 | +911% |
| Deferred charges and accrued income | 490/1 | €23,443 | €24,083 | +€640 | +2.7% |
| Total equity and liabilities | 10/49 | €5,345,440 | €5,926,794 | +€581,354 | +10.9% |
| Equity | 10/15 | -€435,821 | -€627,074 | -€191,253 | -43.9% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Revaluation surpluses | 12 | €87,633 | €58,422 | -€29,211 | -33.3% |
| Reserves | 13 | €397,390 | €426,601 | +€29,211 | +7.4% |
| Distributable reserves | 133 | €397,390 | €426,601 | +€29,211 | +7.4% |
| Profit (loss) carried forward | 14 | -€1,044,844 | -€1,236,097 | -€191,253 | -18.3% |
| Amounts payable | 17/49 | €5,781,261 | €6,553,868 | +€772,607 | +13.4% |
| Amounts payable after more than one year | 17 | €5,238,202 | €5,897,509 | +€659,307 | +12.6% |
| Financial debts | 170/4 | €5,238,202 | €5,897,509 | +€659,307 | +12.6% |
| Amounts payable within one year | 42/48 | €319,433 | €324,182 | +€4,749 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €111,213 | €104,693 | -€6,520 | -5.9% |
| Suppliers | 440/4 | €111,213 | €104,693 | -€6,520 | -5.9% |
| Taxes, remuneration and social security | 45 | €8,220 | €19,489 | +€11,269 | +137% |
| Taxes | 450/3 | €8,220 | €19,489 | +€11,269 | +137% |
| Accrued charges and deferred income | 492/3 | €223,626 | €332,177 | +€108,551 | +48.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €325,402 | €390,116 | +€64,714 | +19.9% |
| Other operating charges | 640/8 | €42,628 | €53,980 | +€11,352 | +26.6% |
| Gross operating margin | 9900 | €168,091 | €415,497 | +€247,406 | +147% |
| Operating profit (loss) | 9901 | -€199,939 | -€28,599 | +€171,340 | +85.7% |
| Financial income | 75/76B | €6,104 | €17 | -€6,087 | -99.7% |
| Recurring financial income | 75 | €6,104 | €17 | -€6,087 | -99.7% |
| Financial charges | 65/66B | €146,419 | €162,671 | +€16,252 | +11.1% |
| Recurring financial charges | 65 | €146,419 | €162,671 | +€16,252 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | -€340,254 | -€191,253 | +€149,001 | +43.8% |
| Profit (loss) for the period | 9904 | -€340,254 | -€191,253 | +€149,001 | +43.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€340,254 | -€191,253 | +€149,001 | +43.8% |
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 14 October 2026 via checked.be.