Runar: what changed
Runar
Largest movements
- Current investments -€20,000
no longer reported in 2025 (was €20,000)
- Receivables within one year +€19,433
up €19,433 (+12.5%), from €155,790 to €175,223
of which Trade receivables: +€19,839
- Cash -€14,702
down €14,702 (-17.9%), from €82,131 to €67,429
mainly Contributions, distributions and other (-€64,935) and Investment in fixed assets (net) (-€32,423)
- Tangible fixed assets -€6,607
down €6,607 (-4.3%), from €155,325 to €148,717
of which Furniture and vehicles: -€12,725
- Financial fixed assets -€4,872
down €4,872 (-10.4%), from €46,846 to €41,974
- Debts after one year -€30,405
down €30,405 (-43.2%), from €70,383 to €39,977
- Short-term financial debts +€15,000
up €15,000 (+150%), from €10,000 to €25,000
- Current portion of long-term debt -€9,369
down €9,369 (-23.6%), from €39,774 to €30,405
- Depreciation +€16,497
up €16,497 (+60.2%), from €27,406 to €43,902
- Gross operating margin -€4,111
down €4,111 (-2.9%), from €143,604 to €139,493
- Financial income +€1,621
up €1,621 (+39.9%), from €4,060 to €5,681
- Taxes -€1,608
down €1,608 (-4.6%), from €34,761 to €33,153
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €486,063 | €462,398 | -€23,666 | -4.9% |
| Fixed assets | 21/28 | €202,171 | €190,692 | -€11,479 | -5.7% |
| Tangible fixed assets | 22/27 | €155,325 | €148,717 | -€6,607 | -4.3% |
| Plant, machinery and equipment | 23 | €97,471 | €103,983 | +€6,513 | +6.7% |
| Furniture and vehicles | 24 | €54,229 | €41,504 | -€12,725 | -23.5% |
| Other tangible fixed assets | 26 | €3,625 | €3,230 | -€395 | -10.9% |
| Financial fixed assets | 28 | €46,846 | €41,974 | -€4,872 | -10.4% |
| Current assets | 29/58 | €283,893 | €271,706 | -€12,187 | -4.3% |
| Stocks and contracts in progress | 3 | €25,972 | €29,054 | +€3,082 | +11.9% |
| Stocks | 30/36 | €25,972 | €29,054 | +€3,082 | +11.9% |
| Amounts receivable within one year | 40/41 | €155,790 | €175,223 | +€19,433 | +12.5% |
| Trade receivables | 40 | €109,149 | €128,988 | +€19,839 | +18.2% |
| Other amounts receivable | 41 | €46,641 | €46,235 | -€405 | -0.9% |
| Current investments | 50/53 | €20,000 | - | -€20,000 | |
| Cash at bank and in hand | 54/58 | €82,131 | €67,429 | -€14,702 | -17.9% |
| Total equity and liabilities | 10/49 | €486,063 | €462,398 | -€23,666 | -4.9% |
| Equity | 10/15 | €303,825 | €301,404 | -€2,420 | -0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €285,225 | €282,804 | -€2,420 | -0.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €283,365 | €280,944 | -€2,420 | -0.9% |
| Amounts payable | 17/49 | €182,239 | €160,993 | -€21,245 | -11.7% |
| Amounts payable after more than one year | 17 | €70,383 | €39,977 | -€30,405 | -43.2% |
| Financial debts | 170/4 | €70,383 | €39,977 | -€30,405 | -43.2% |
| Amounts payable within one year | 42/48 | €111,856 | €121,016 | +€9,160 | +8.2% |
| Current portion of amounts payable after more than one year | 42 | €39,774 | €30,405 | -€9,369 | -23.6% |
| Financial debts | 43 | €10,000 | €25,000 | +€15,000 | +150% |
| Credit institutions | 430/8 | €10,000 | €25,000 | +€15,000 | +150% |
| Trade debts | 44 | €32,375 | €34,771 | +€2,395 | +7.4% |
| Suppliers | 440/4 | €32,375 | €34,771 | +€2,395 | +7.4% |
| Taxes, remuneration and social security | 45 | €29,707 | €30,840 | +€1,133 | +3.8% |
| Taxes | 450/3 | €29,707 | €30,840 | +€1,133 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,406 | €43,902 | +€16,497 | +60.2% |
| Other operating charges | 640/8 | €1,891 | €1,348 | -€543 | -28.7% |
| Gross operating margin | 9900 | €143,604 | €139,493 | -€4,111 | -2.9% |
| Operating profit (loss) | 9901 | €114,308 | €94,243 | -€20,065 | -17.6% |
| Financial income | 75/76B | €4,060 | €5,681 | +€1,621 | +39.9% |
| Recurring financial income | 75 | €4,060 | €5,681 | +€1,621 | +39.9% |
| Financial charges | 65/66B | €4,394 | €4,256 | -€138 | -3.1% |
| Recurring financial charges | 65 | €4,394 | €4,256 | -€138 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €113,974 | €95,668 | -€18,306 | -16.1% |
| Income taxes | 67/77 | €34,761 | €33,153 | -€1,608 | -4.6% |
| Profit (loss) for the period | 9904 | €79,213 | €62,515 | -€16,698 | -21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €79,213 | €62,515 | -€16,698 | -21.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.