RUSCHOEN: 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.
RUSCHOEN
Largest movements
- Current investments -€600,000
no longer reported in 2025 (was €600,000)
- Receivables within one year +€512,917
up €512,917 (+119.3%), from €429,891 to €942,809
of which Other amounts receivable: +€302,595
- Cash +€230,591
up €230,591 (+315.5%), from €73,095 to €303,686
mainly Current investments (+€600,000) and Net result for the year (+€361,776)
- Receivables after one year -€34,694
down €34,694 (-14.5%), from €238,507 to €203,814
- Tangible fixed assets +€28,035
up €28,035 (+4.6%), from €604,735 to €632,770
of which Other tangible fixed assets: +€36,702
- Reserves +€361,776
up €361,776 (+25.8%), from €1.4m to €1.8m
- Tax, wage and social debts -€184,654
down €184,654 (-58.5%), from €315,507 to €130,853
of which Taxes: -€186,211
- Gross operating margin -€792,011
down €792,011 (-61.3%), from €1.3m to €499,727
- Taxes -€207,916
down €207,916 (-64.9%), from €320,422 to €112,506
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 | €2,259,719 | €2,389,904 | +€130,185 | +5.8% |
| Fixed assets | 21/28 | €894,135 | €922,170 | +€28,035 | +3.1% |
| Tangible fixed assets | 22/27 | €604,735 | €632,770 | +€28,035 | +4.6% |
| Land and buildings | 22 | €538,767 | €533,711 | -€5,055 | -0.9% |
| Furniture and vehicles | 24 | €15,710 | €12,099 | -€3,611 | -23.0% |
| Other tangible fixed assets | 26 | €50,258 | €86,960 | +€36,702 | +73.0% |
| Financial fixed assets | 28 | €289,400 | €289,400 | = | 0.0% |
| Current assets | 29/58 | €1,365,584 | €1,467,733 | +€102,149 | +7.5% |
| Amounts receivable after more than one year | 29 | €238,507 | €203,814 | -€34,694 | -14.5% |
| Other amounts receivable | 291 | €238,507 | €203,814 | -€34,694 | -14.5% |
| Amounts receivable within one year | 40/41 | €429,891 | €942,809 | +€512,917 | +119.3% |
| Trade receivables | 40 | €304,633 | €514,955 | +€210,322 | +69.0% |
| Other amounts receivable | 41 | €125,259 | €427,854 | +€302,595 | +241.6% |
| Current investments | 50/53 | €600,000 | - | -€600,000 | |
| Cash at bank and in hand | 54/58 | €73,095 | €303,686 | +€230,591 | +315.5% |
| Deferred charges and accrued income | 490/1 | €24,091 | €17,426 | -€6,665 | -27.7% |
| Total equity and liabilities | 10/49 | €2,259,719 | €2,389,904 | +€130,185 | +5.8% |
| Equity | 10/15 | €1,401,381 | €1,763,157 | +€361,776 | +25.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,400,381 | €1,762,157 | +€361,776 | +25.8% |
| Distributable reserves | 133 | €1,400,381 | €1,762,157 | +€361,776 | +25.8% |
| Amounts payable | 17/49 | €858,338 | €626,746 | -€231,592 | -27.0% |
| Amounts payable after more than one year | 17 | €465,544 | €443,689 | -€21,855 | -4.7% |
| Financial debts | 170/4 | €373,672 | €351,816 | -€21,855 | -5.8% |
| Other amounts payable | 178/9 | €91,873 | €91,873 | = | 0.0% |
| Amounts payable within one year | 42/48 | €386,763 | €179,960 | -€206,803 | -53.5% |
| Current portion of amounts payable after more than one year | 42 | €22,880 | €23,644 | +€764 | +3.3% |
| Trade debts | 44 | €48,376 | €25,463 | -€22,913 | -47.4% |
| Suppliers | 440/4 | €48,376 | €25,463 | -€22,913 | -47.4% |
| Taxes, remuneration and social security | 45 | €315,507 | €130,853 | -€184,654 | -58.5% |
| Taxes | 450/3 | €315,507 | €129,296 | -€186,211 | -59.0% |
| Remuneration and social security | 454/9 | - | €1,557 | +€1,557 | |
| Accrued charges and deferred income | 492/3 | €6,031 | €3,097 | -€2,933 | -48.6% |
| Non-recurring operating income | 76A | €1,000,000 | €51,804 | -€948,196 | -94.8% |
| Remuneration, social security and pensions | 62 | - | €12,699 | +€12,699 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,782 | €26,840 | +€1,058 | +4.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€430 | -€1,403 | -€972 | -226.0% |
| Other operating charges | 640/8 | €3,481 | €3,058 | -€423 | -12.2% |
| Gross operating margin | 9900 | €1,291,739 | €499,727 | -€792,011 | -61.3% |
| Operating profit (loss) | 9901 | €1,262,905 | €458,532 | -€804,373 | -63.7% |
| Financial income | 75/76B | €32,790 | €29,561 | -€3,229 | -9.8% |
| Recurring financial income | 75 | €32,790 | €29,561 | -€3,229 | -9.8% |
| Financial charges | 65/66B | €3,502 | €13,811 | +€10,309 | +294.3% |
| Recurring financial charges | 65 | €3,502 | €13,811 | +€10,309 | +294.3% |
| Profit (loss) for the period before taxes | 9903 | €1,292,193 | €474,282 | -€817,911 | -63.3% |
| Income taxes | 67/77 | €320,422 | €112,506 | -€207,916 | -64.9% |
| Profit (loss) for the period | 9904 | €971,771 | €361,776 | -€609,995 | -62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €971,771 | €361,776 | -€609,995 | -62.8% |
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 8 October 2026 via checked.be.