RURSUS: 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.
RURSUS
Largest movements
- Tangible fixed assets -€1.4m
down €1.4m (-24.5%), from €5.8m to €4.4m
of which Leasing and similar rights: -€1.1m
- Cash -€594,038
down €594,038 (-100.0%), from €594,038 to €0
mainly Other debts (-€5.0m) and Net result for the year (-€2.0m)
- Receivables within one year -€346,126
down €346,126 (-29.2%), from €1.2m to €837,335
of which Other amounts receivable: -€206,801
- Stocks and contracts -€240,398
down €240,398 (-25.2%), from €953,113 to €712,714
- Debts after one year +€5.3m
up €5.3m (+130.4%), from €4.0m to €9.3m
of which Other amounts payable: +€6.4m
- Other debts -€5.0m
down €5.0m (-100.0%), from €5.0m to €678
- Profit (loss) carried forward -€2.0m
down €2.0m (-29.2%), from -€6.7m to -€8.7m
- Trade debts -€1.1m
down €1.1m (-27.1%), from €4.2m to €3.0m
- Gross operating margin -€619,255
down €619,255 (-36.2%), from €1.7m to €1.1m
- Staff costs +€104,133
up €104,133 (+10.8%), from €962,149 to €1.1m
- Write-downs +€80,946
new in 2025: €80,946
- Financial charges -€34,811
down €34,811 (-9.1%), from €383,343 to €348,532
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 | €8,666,608 | €5,992,954 | -€2.7m | -30.9% |
| Fixed assets | 21/28 | €5,847,899 | €4,418,417 | -€1.4m | -24.4% |
| Intangible fixed assets | 21 | €2,863 | €2,862 | -€1 | 0.0% |
| Tangible fixed assets | 22/27 | €5,844,747 | €4,415,266 | -€1.4m | -24.5% |
| Land and buildings | 22 | €2,009,822 | €1,839,085 | -€170,737 | -8.5% |
| Plant, machinery and equipment | 23 | €503,716 | €383,308 | -€120,408 | -23.9% |
| Furniture and vehicles | 24 | €32,599 | €24,381 | -€8,217 | -25.2% |
| Leasing and similar rights | 25 | €3,298,610 | €2,168,492 | -€1.1m | -34.3% |
| Financial fixed assets | 28 | €289 | €289 | = | 0.0% |
| Current assets | 29/58 | €2,818,709 | €1,574,537 | -€1.2m | -44.1% |
| Stocks and contracts in progress | 3 | €953,113 | €712,714 | -€240,398 | -25.2% |
| Stocks | 30/36 | €953,113 | €712,714 | -€240,398 | -25.2% |
| Amounts receivable within one year | 40/41 | €1,183,461 | €837,335 | -€346,126 | -29.2% |
| Trade receivables | 40 | €912,845 | €773,519 | -€139,325 | -15.3% |
| Other amounts receivable | 41 | €270,616 | €63,815 | -€206,801 | -76.4% |
| Cash at bank and in hand | 54/58 | €594,038 | €0 | -€594,038 | -100.0% |
| Deferred charges and accrued income | 490/1 | €88,098 | €24,488 | -€63,609 | -72.2% |
| Total equity and liabilities | 10/49 | €8,666,608 | €5,992,954 | -€2.7m | -30.9% |
| Equity | 10/15 | -€6,112,983 | -€8,075,075 | -€2.0m | -32.1% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,712,983 | -€8,675,075 | -€2.0m | -29.2% |
| Amounts payable | 17/49 | €14,779,591 | €14,068,030 | -€711,561 | -4.8% |
| Amounts payable after more than one year | 17 | €4,033,543 | €9,292,021 | +€5.3m | +130.4% |
| Financial debts | 170/4 | €4,033,543 | €2,892,240 | -€1.1m | -28.3% |
| Other amounts payable | 178/9 | - | €6,399,780 | +€6.4m | |
| Amounts payable within one year | 42/48 | €10,638,293 | €4,653,370 | -€6.0m | -56.3% |
| Current portion of amounts payable after more than one year | 42 | €1,110,314 | €1,141,303 | +€30,989 | +2.8% |
| Financial debts | 43 | €350,000 | €403,797 | +€53,797 | +15.4% |
| Credit institutions | 430/8 | €350,000 | €403,797 | +€53,797 | +15.4% |
| Trade debts | 44 | €4,163,724 | €3,036,293 | -€1.1m | -27.1% |
| Suppliers | 440/4 | €4,163,724 | €3,036,293 | -€1.1m | -27.1% |
| Taxes, remuneration and social security | 45 | €54,824 | €71,301 | +€16,477 | +30.1% |
| Taxes | 450/3 | €4,223 | €3,311 | -€912 | -21.6% |
| Remuneration and social security | 454/9 | €50,601 | €67,990 | +€17,389 | +34.4% |
| Other amounts payable | 47/48 | €4,959,432 | €678 | -€5.0m | -100.0% |
| Accrued charges and deferred income | 492/3 | €107,754 | €122,639 | +€14,885 | +13.8% |
| Non-recurring operating income | 76A | €274,569 | €257,389 | -€17,180 | -6.3% |
| Remuneration, social security and pensions | 62 | €962,149 | €1,066,282 | +€104,133 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,429,742 | €1,430,582 | +€840 | +0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €80,946 | +€80,946 | |
| Other operating charges | 640/8 | €29,448 | €42,229 | +€12,781 | +43.4% |
| Non-recurring operating charges | 66A | €215,442 | €85,628 | -€129,814 | -60.3% |
| Gross operating margin | 9900 | €1,711,362 | €1,092,107 | -€619,255 | -36.2% |
| Operating profit (loss) | 9901 | -€925,419 | -€1,613,561 | -€688,141 | -74.4% |
| Financial charges | 65/66B | €383,343 | €348,532 | -€34,811 | -9.1% |
| Recurring financial charges | 65 | €383,343 | €348,532 | -€34,811 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,308,763 | -€1,962,093 | -€653,330 | -49.9% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€1,308,763 | -€1,962,093 | -€653,330 | -49.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,308,763 | -€1,962,093 | -€653,330 | -49.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.