RUSSELL: 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.
RUSSELL
Largest movements
- Receivables within one year +€293,196
up €293,196 (+52.0%), from €564,380 to €857,576
of which Other amounts receivable: +€292,916
- Receivables after one year -€58,311
down €58,311 (-9.4%), from €620,643 to €562,332
- Tangible fixed assets -€35,563
down €35,563 (-6.1%), from €587,387 to €551,824
of which Furniture and vehicles: -€23,103
- Reserves +€128,951
up €128,951 (+15.2%), from €850,871 to €979,823
- Debts after one year +€52,528
up €52,528 (+11.0%), from €476,125 to €528,653
- Tax, wage and social debts +€41,635
up €41,635 (+263.4%), from €15,807 to €57,442
of which Taxes: +€45,898
- Other debts -€29,793
down €29,793 (-36.2%), from €82,204 to €52,411
- Gross operating margin +€218,386
up €218,386 (+213.9%), from €102,080 to €320,465
- Taxes +€61,429
up €61,429 (+331.5%), from €18,530 to €79,959
- Depreciation -€5,555
down €5,555 (-13.5%), from €41,118 to €35,563
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 | €1,816,154 | €2,009,766 | +€193,613 | +10.7% |
| Fixed assets | 21/28 | €587,387 | €551,824 | -€35,563 | -6.1% |
| Tangible fixed assets | 22/27 | €587,387 | €551,824 | -€35,563 | -6.1% |
| Land and buildings | 22 | €481,477 | €469,940 | -€11,537 | -2.4% |
| Plant, machinery and equipment | 23 | €5,788 | €4,864 | -€924 | -16.0% |
| Furniture and vehicles | 24 | €100,122 | €77,020 | -€23,103 | -23.1% |
| Current assets | 29/58 | €1,228,767 | €1,457,943 | +€229,176 | +18.7% |
| Amounts receivable after more than one year | 29 | €620,643 | €562,332 | -€58,311 | -9.4% |
| Other amounts receivable | 291 | €620,643 | €562,332 | -€58,311 | -9.4% |
| Amounts receivable within one year | 40/41 | €564,380 | €857,576 | +€293,196 | +52.0% |
| Trade receivables | 40 | €22,497 | €22,777 | +€280 | +1.2% |
| Other amounts receivable | 41 | €541,883 | €834,799 | +€292,916 | +54.1% |
| Cash at bank and in hand | 54/58 | €41,619 | €38,035 | -€3,584 | -8.6% |
| Deferred charges and accrued income | 490/1 | €2,125 | - | -€2,125 | |
| Total equity and liabilities | 10/49 | €1,816,154 | €2,009,766 | +€193,613 | +10.7% |
| Equity | 10/15 | €1,047,804 | €1,176,755 | +€128,951 | +12.3% |
| Contributions | 10/11 | €196,800 | €196,800 | = | 0.0% |
| Reserves | 13 | €850,871 | €979,823 | +€128,951 | +15.2% |
| Distributable reserves | 133 | €850,871 | €979,823 | +€128,951 | +15.2% |
| Profit (loss) carried forward | 14 | €132 | €132 | = | 0.0% |
| Provisions and deferred taxes | 16 | €186,943 | €186,943 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €186,943 | €186,943 | = | 0.0% |
| Pensions and similar obligations | 160 | €186,943 | €186,943 | = | 0.0% |
| Amounts payable | 17/49 | €581,407 | €646,069 | +€64,662 | +11.1% |
| Amounts payable after more than one year | 17 | €476,125 | €528,653 | +€52,528 | +11.0% |
| Financial debts | 170/4 | €476,125 | €528,653 | +€52,528 | +11.0% |
| Amounts payable within one year | 42/48 | €105,282 | €117,415 | +€12,134 | +11.5% |
| Trade debts | 44 | €7,271 | €7,562 | +€291 | +4.0% |
| Suppliers | 440/4 | €7,271 | €7,562 | +€291 | +4.0% |
| Taxes, remuneration and social security | 45 | €15,807 | €57,442 | +€41,635 | +263.4% |
| Taxes | 450/3 | €8,066 | €53,964 | +€45,898 | +569.0% |
| Remuneration and social security | 454/9 | €7,740 | €3,477 | -€4,263 | -55.1% |
| Other amounts payable | 47/48 | €82,204 | €52,411 | -€29,793 | -36.2% |
| Remuneration, social security and pensions | 62 | €26,696 | €28,467 | +€1,771 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,118 | €35,563 | -€5,555 | -13.5% |
| Other operating charges | 640/8 | €4,653 | €7,192 | +€2,539 | +54.6% |
| Gross operating margin | 9900 | €102,080 | €320,465 | +€218,386 | +213.9% |
| Operating profit (loss) | 9901 | €29,613 | €249,243 | +€219,631 | +741.7% |
| Financial income | 75/76B | €20,864 | €20,417 | -€447 | -2.1% |
| Recurring financial income | 75 | €20,864 | €20,417 | -€447 | -2.1% |
| Financial charges | 65/66B | €7,394 | €8,338 | +€944 | +12.8% |
| Recurring financial charges | 65 | €7,394 | €8,338 | +€944 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €43,083 | €261,322 | +€218,239 | +506.6% |
| Income taxes | 67/77 | €18,530 | €79,959 | +€61,429 | +331.5% |
| Profit (loss) for the period | 9904 | €24,552 | €181,363 | +€156,810 | +638.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,552 | €181,363 | +€156,810 | +638.7% |
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 11 October 2026 via checked.be.