RULEMA: 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.
RULEMA
Largest movements
- Tangible fixed assets -€109,037
down €109,037 (-3.0%), from €3.6m to €3.5m
of which Land and buildings: -€119,944
- Other debts -€100,000
down €100,000 (-55.8%), from €179,214 to €79,214
- Debts after one year -€47,020
down €47,020 (-2.3%), from €2.1m to €2.0m
- Depreciation +€16,130
up €16,130 (+6.9%), from €232,155 to €248,285
- Gross operating margin +€11,636
up €11,636 (+2.9%), from €394,545 to €406,180
- Taxes +€10,637
up €10,637 (+514.6%), from €2,067 to €12,704
- Financial charges -€4,746
down €4,746 (-5.6%), from €84,789 to €80,043
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 | €3,691,306 | €3,596,253 | -€95,053 | -2.6% |
| Fixed assets | 21/28 | €3,634,114 | €3,525,077 | -€109,037 | -3.0% |
| Tangible fixed assets | 22/27 | €3,612,136 | €3,503,099 | -€109,037 | -3.0% |
| Land and buildings | 22 | €3,602,517 | €3,482,573 | -€119,944 | -3.3% |
| Plant, machinery and equipment | 23 | €9,619 | €20,526 | +€10,907 | +113.4% |
| Financial fixed assets | 28 | €21,978 | €21,978 | = | 0.0% |
| Current assets | 29/58 | €57,192 | €71,176 | +€13,984 | +24.5% |
| Amounts receivable within one year | 40/41 | €3,984 | €2,297 | -€1,687 | -42.3% |
| Trade receivables | 40 | €984 | €0 | -€984 | -100.0% |
| Other amounts receivable | 41 | €3,000 | €2,297 | -€703 | -23.4% |
| Cash at bank and in hand | 54/58 | €53,208 | €68,879 | +€15,671 | +29.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,691,306 | €3,596,253 | -€95,053 | -2.6% |
| Equity | 10/15 | €1,196,665 | €1,232,505 | +€35,840 | +3.0% |
| Contributions | 10/11 | €1,080,000 | €1,080,000 | = | 0.0% |
| Reserves | 13 | €116,665 | €152,505 | +€35,840 | +30.7% |
| Distributable reserves | 133 | €116,665 | €152,505 | +€35,840 | +30.7% |
| Amounts payable | 17/49 | €2,494,641 | €2,363,748 | -€130,893 | -5.2% |
| Amounts payable after more than one year | 17 | €2,088,197 | €2,041,177 | -€47,020 | -2.3% |
| Financial debts | 170/4 | €2,088,197 | €2,041,177 | -€47,020 | -2.3% |
| Amounts payable within one year | 42/48 | €406,444 | €322,572 | -€83,873 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | €211,773 | €243,357 | +€31,584 | +14.9% |
| Trade debts | 44 | €13,390 | €0 | -€13,390 | -100.0% |
| Suppliers | 440/4 | €13,390 | €0 | -€13,390 | -100.0% |
| Taxes, remuneration and social security | 45 | €2,066 | €0 | -€2,066 | -100.0% |
| Taxes | 450/3 | €2,066 | €0 | -€2,066 | -100.0% |
| Other amounts payable | 47/48 | €179,214 | €79,214 | -€100,000 | -55.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €232,155 | €248,285 | +€16,130 | +6.9% |
| Other operating charges | 640/8 | €31,351 | €32,621 | +€1,270 | +4.1% |
| Non-recurring operating charges | 66A | €26,828 | €0 | -€26,828 | -100.0% |
| Gross operating margin | 9900 | €394,545 | €406,180 | +€11,636 | +2.9% |
| Operating profit (loss) | 9901 | €104,210 | €125,275 | +€21,064 | +20.2% |
| Financial income | 75/76B | €3,315 | €3,312 | -€3 | -0.1% |
| Recurring financial income | 75 | €3,315 | €3,312 | -€3 | -0.1% |
| Financial charges | 65/66B | €84,789 | €80,043 | -€4,746 | -5.6% |
| Recurring financial charges | 65 | €84,789 | €80,043 | -€4,746 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €22,736 | €48,543 | +€25,807 | +113.5% |
| Income taxes | 67/77 | €2,067 | €12,704 | +€10,637 | +514.6% |
| Profit (loss) for the period | 9904 | €20,669 | €35,840 | +€15,170 | +73.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,669 | €35,840 | +€15,170 | +73.4% |
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.