RUNS: 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.
RUNS
Largest movements
- Cash -€7,732
down €7,732 (-7.3%), from €105,700 to €97,968
mainly Other debts (-€54,956) and Investment in fixed assets (net) (-€50,515)
- Stocks and contracts +€7,110
up €7,110 (+24.5%), from €28,970 to €36,080
- Other debts -€54,956
down €54,956 (-56.8%), from €96,821 to €41,866
- Reserves +€48,709
up €48,709 (+25.2%), from €192,963 to €241,673
- Debts after one year -€9,683
down €9,683 (-8.7%), from €111,520 to €101,837
- Tax, wage and social debts +€8,274
up €8,274 (+119.4%), from €6,927 to €15,200
- Gross operating margin +€10,378
up €10,378 (+7.5%), from €138,074 to €148,452
- Depreciation +€8,475
up €8,475 (+18.5%), from €45,821 to €54,296
- Financial charges -€1,889
down €1,889 (-27.1%), from €6,973 to €5,085
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 | €437,898 | €431,834 | -€6,063 | -1.4% |
| Fixed assets | 21/28 | €270,982 | €267,201 | -€3,781 | -1.4% |
| Tangible fixed assets | 22/27 | €270,982 | €267,201 | -€3,781 | -1.4% |
| Land and buildings | 22 | €170,814 | €175,873 | +€5,059 | +3.0% |
| Plant, machinery and equipment | 23 | €75,989 | €77,009 | +€1,021 | +1.3% |
| Furniture and vehicles | 24 | €24,180 | €14,319 | -€9,861 | -40.8% |
| Current assets | 29/58 | €166,915 | €164,634 | -€2,282 | -1.4% |
| Stocks and contracts in progress | 3 | €28,970 | €36,080 | +€7,110 | +24.5% |
| Stocks | 30/36 | €28,970 | €36,080 | +€7,110 | +24.5% |
| Amounts receivable within one year | 40/41 | €30,116 | €28,523 | -€1,592 | -5.3% |
| Trade receivables | 40 | €29,734 | €28,523 | -€1,211 | -4.1% |
| Other amounts receivable | 41 | €382 | €0 | -€382 | -100.0% |
| Cash at bank and in hand | 54/58 | €105,700 | €97,968 | -€7,732 | -7.3% |
| Deferred charges and accrued income | 490/1 | €2,130 | €2,063 | -€67 | -3.2% |
| Total equity and liabilities | 10/49 | €437,898 | €431,834 | -€6,063 | -1.4% |
| Equity | 10/15 | €212,963 | €261,673 | +€48,709 | +22.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €192,963 | €241,673 | +€48,709 | +25.2% |
| Distributable reserves | 133 | €192,963 | €241,673 | +€48,709 | +25.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €224,934 | €170,162 | -€54,773 | -24.4% |
| Amounts payable after more than one year | 17 | €111,520 | €101,837 | -€9,683 | -8.7% |
| Financial debts | 170/4 | €111,520 | €101,837 | -€9,683 | -8.7% |
| Amounts payable within one year | 42/48 | €113,415 | €68,325 | -€45,090 | -39.8% |
| Current portion of amounts payable after more than one year | 42 | €9,580 | €9,683 | +€103 | +1.1% |
| Trade debts | 44 | €87 | €1,576 | +€1,489 | +1710.0% |
| Suppliers | 440/4 | €87 | €1,576 | +€1,489 | +1710.0% |
| Taxes, remuneration and social security | 45 | €6,927 | €15,200 | +€8,274 | +119.4% |
| Taxes | 450/3 | €6,927 | €15,200 | +€8,274 | +119.4% |
| Other amounts payable | 47/48 | €96,821 | €41,866 | -€54,956 | -56.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,821 | €54,296 | +€8,475 | +18.5% |
| Other operating charges | 640/8 | €1,401 | €1,443 | +€41 | +2.9% |
| Gross operating margin | 9900 | €138,074 | €148,452 | +€10,378 | +7.5% |
| Operating profit (loss) | 9901 | €90,852 | €92,713 | +€1,862 | +2.0% |
| Financial income | 75/76B | €36 | €391 | +€355 | +982.7% |
| Recurring financial income | 75 | €36 | €391 | +€355 | +982.7% |
| Financial charges | 65/66B | €6,973 | €5,085 | -€1,889 | -27.1% |
| Recurring financial charges | 65 | €6,973 | €5,085 | -€1,889 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €83,914 | €88,019 | +€4,105 | +4.9% |
| Income taxes | 67/77 | €23,938 | €24,573 | +€636 | +2.7% |
| Profit (loss) for the period | 9904 | €59,977 | €63,446 | +€3,469 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €59,977 | €63,446 | +€3,469 | +5.8% |
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 4 October 2026 via checked.be.