RUSETI: 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.
RUSETI
Largest movements
- Cash +€173,092
up €173,092 (+291.9%), from €59,305 to €232,397
mainly Net result for the year (+€134,069) and Tax, wage and social debts (+€55,020)
- Tangible fixed assets +€47,208
up €47,208 (+80.1%), from €58,937 to €106,145
of which Assets under construction and advance payments: +€34,248
- Receivables within one year -€4,036
down €4,036 (-16.0%), from €25,289 to €21,253
of which Trade receivables: -€4,625
- Reserves +€174,212
new in 2025: €174,212
- Tax, wage and social debts +€55,020
up €55,020 (+293.5%), from €18,747 to €73,768
- Profit (loss) carried forward -€40,143
down €40,143 (-100.0%), from €40,143 to €0
- Trade debts +€22,891
up €22,891 (+460.9%), from €4,966 to €27,857
- Other debts +€4,283
up €4,283 (+10.6%), from €40,584 to €44,868
- Gross operating margin +€137,143
up €137,143 (+255.6%), from €53,651 to €190,795
- Taxes +€29,741
up €29,741 (+282.1%), from €10,542 to €40,283
- Depreciation +€11,705
up €11,705 (+396.1%), from €2,955 to €14,659
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 | €144,941 | €361,506 | +€216,565 | +149.4% |
| Fixed assets | 21/28 | €58,937 | €106,145 | +€47,208 | +80.1% |
| Tangible fixed assets | 22/27 | €58,937 | €106,145 | +€47,208 | +80.1% |
| Land and buildings | 22 | - | €19,009 | +€19,009 | |
| Plant, machinery and equipment | 23 | €3,749 | €9,283 | +€5,534 | +147.6% |
| Furniture and vehicles | 24 | €55,188 | €43,606 | -€11,582 | -21.0% |
| Assets under construction and advance payments | 27 | - | €34,248 | +€34,248 | |
| Current assets | 29/58 | €86,004 | €255,361 | +€169,357 | +196.9% |
| Amounts receivable within one year | 40/41 | €25,289 | €21,253 | -€4,036 | -16.0% |
| Trade receivables | 40 | €25,289 | €20,664 | -€4,625 | -18.3% |
| Other amounts receivable | 41 | - | €589 | +€589 | |
| Cash at bank and in hand | 54/58 | €59,305 | €232,397 | +€173,092 | +291.9% |
| Deferred charges and accrued income | 490/1 | €1,409 | €1,711 | +€301 | +21.4% |
| Total equity and liabilities | 10/49 | €144,941 | €361,506 | +€216,565 | +149.4% |
| Equity | 10/15 | €80,643 | €214,712 | +€134,069 | +166.3% |
| Contributions | 10/11 | €40,500 | €40,500 | = | 0.0% |
| Reserves | 13 | - | €174,212 | +€174,212 | |
| Distributable reserves | 133 | - | €174,212 | +€174,212 | |
| Profit (loss) carried forward | 14 | €40,143 | €0 | -€40,143 | -100.0% |
| Amounts payable | 17/49 | €64,298 | €146,794 | +€82,496 | +128.3% |
| Amounts payable within one year | 42/48 | €64,298 | €146,794 | +€82,496 | +128.3% |
| Financial debts | 43 | - | €302 | +€302 | |
| Credit institutions | 430/8 | - | €302 | +€302 | |
| Trade debts | 44 | €4,966 | €27,857 | +€22,891 | +460.9% |
| Suppliers | 440/4 | €4,966 | €27,857 | +€22,891 | +460.9% |
| Taxes, remuneration and social security | 45 | €18,747 | €73,768 | +€55,020 | +293.5% |
| Taxes | 450/3 | €18,747 | €73,768 | +€55,020 | +293.5% |
| Other amounts payable | 47/48 | €40,584 | €44,868 | +€4,283 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,955 | €14,659 | +€11,705 | +396.1% |
| Other operating charges | 640/8 | - | €320 | +€320 | |
| Gross operating margin | 9900 | €53,651 | €190,795 | +€137,143 | +255.6% |
| Operating profit (loss) | 9901 | €50,697 | €175,815 | +€125,119 | +246.8% |
| Financial income | 75/76B | €3 | €14 | +€11 | +350.5% |
| Recurring financial income | 75 | €3 | €14 | +€11 | +350.5% |
| Financial charges | 65/66B | €15 | €1,477 | +€1,462 | +9979.7% |
| Recurring financial charges | 65 | €15 | €1,477 | +€1,462 | +9979.7% |
| Profit (loss) for the period before taxes | 9903 | €50,685 | €174,352 | +€123,667 | +244.0% |
| Income taxes | 67/77 | €10,542 | €40,283 | +€29,741 | +282.1% |
| Profit (loss) for the period | 9904 | €40,143 | €134,069 | +€93,926 | +234.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,143 | €134,069 | +€93,926 | +234.0% |
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 6 October 2026 via checked.be.