RUSTERLOO: 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.
RUSTERLOO
Largest movements
- Cash +€268,911
up €268,911 (+41.3%), from €651,699 to €920,610
mainly Net result for the year (+€378,948) and Depreciation (+€232,881)
- Tangible fixed assets -€181,349
down €181,349 (-7.0%), from €2.6m to €2.4m
of which Land and buildings: -€200,879
- Current investments +€63,000
up €63,000 (+63.0%), from €100,000 to €163,000
- Reserves +€340,398
up €340,398 (+12.2%), from €2.8m to €3.1m
of which Distributable reserves: +€364,460
- Debts after one year -€85,000
down €85,000 (-8.9%), from €951,527 to €866,527
of which Financial debts: -€65,000
- Current portion of long-term debt -€64,166
down €64,166 (-49.7%), from €129,166 to €65,000
- Taxes -€45,452
down €45,452 (-25.2%), from €180,677 to €135,225
- Gross operating margin -€30,857
down €30,857 (-3.8%), from €810,067 to €779,210
- Other operating charges -€27,909
down €27,909 (-80.3%), from €34,755 to €6,845
- Depreciation +€22,599
up €22,599 (+10.7%), from €210,283 to €232,881
- Financial income -€13,406
down €13,406 (-93.7%), from €14,311 to €906
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 | €4,283,718 | €4,446,419 | +€162,701 | +3.8% |
| Fixed assets | 21/28 | €2,576,377 | €2,395,028 | -€181,349 | -7.0% |
| Tangible fixed assets | 22/27 | €2,576,187 | €2,394,838 | -€181,349 | -7.0% |
| Land and buildings | 22 | €2,489,019 | €2,288,140 | -€200,879 | -8.1% |
| Plant, machinery and equipment | 23 | €23,762 | €56,651 | +€32,890 | +138.4% |
| Furniture and vehicles | 24 | €63,406 | €50,046 | -€13,360 | -21.1% |
| Financial fixed assets | 28 | €190 | €190 | = | 0.0% |
| Current assets | 29/58 | €1,707,341 | €2,051,391 | +€344,050 | +20.2% |
| Amounts receivable after more than one year | 29 | €700,000 | €700,000 | = | 0.0% |
| Other amounts receivable | 291 | €700,000 | €700,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €244,507 | €230,774 | -€13,734 | -5.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €244,507 | €230,774 | -€13,734 | -5.6% |
| Current investments | 50/53 | €100,000 | €163,000 | +€63,000 | +63.0% |
| Cash at bank and in hand | 54/58 | €651,699 | €920,610 | +€268,911 | +41.3% |
| Deferred charges and accrued income | 490/1 | €11,135 | €37,008 | +€25,873 | +232.4% |
| Total equity and liabilities | 10/49 | €4,283,718 | €4,446,419 | +€162,701 | +3.8% |
| Equity | 10/15 | €2,950,402 | €3,290,800 | +€340,398 | +11.5% |
| Contributions | 10/11 | €161,973 | €161,973 | = | 0.0% |
| Capital | 10 | €161,973 | €161,973 | = | 0.0% |
| Issued capital | 100 | €161,973 | €161,973 | = | 0.0% |
| Reserves | 13 | €2,788,429 | €3,128,827 | +€340,398 | +12.2% |
| Non-distributable reserves | 130/1 | €16,197 | €16,197 | = | 0.0% |
| Legal reserve | 130 | €16,197 | €16,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €177,153 | €153,091 | -€24,062 | -13.6% |
| Distributable reserves | 133 | €2,595,078 | €2,959,539 | +€364,460 | +14.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €59,051 | €51,030 | -€8,021 | -13.6% |
| Deferred taxes | 168 | €59,051 | €51,030 | -€8,021 | -13.6% |
| Amounts payable | 17/49 | €1,274,265 | €1,104,589 | -€169,676 | -13.3% |
| Amounts payable after more than one year | 17 | €951,527 | €866,527 | -€85,000 | -8.9% |
| Financial debts | 170/4 | €124,583 | €59,583 | -€65,000 | -52.2% |
| Other amounts payable | 178/9 | €826,944 | €806,944 | -€20,000 | -2.4% |
| Amounts payable within one year | 42/48 | €255,438 | €170,386 | -€85,052 | -33.3% |
| Current portion of amounts payable after more than one year | 42 | €129,166 | €65,000 | -€64,166 | -49.7% |
| Trade debts | 44 | €22,506 | €39,372 | +€16,866 | +74.9% |
| Suppliers | 440/4 | €22,506 | €39,372 | +€16,866 | +74.9% |
| Taxes, remuneration and social security | 45 | €83,479 | €42,296 | -€41,183 | -49.3% |
| Taxes | 450/3 | €80,170 | €38,578 | -€41,591 | -51.9% |
| Remuneration and social security | 454/9 | €3,309 | €3,718 | +€408 | +12.3% |
| Other amounts payable | 47/48 | €20,286 | €23,717 | +€3,431 | +16.9% |
| Accrued charges and deferred income | 492/3 | €67,300 | €67,676 | +€376 | +0.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €23,065 | €26,725 | +€3,660 | +15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €210,283 | €232,881 | +€22,599 | +10.7% |
| Other operating charges | 640/8 | €34,755 | €6,845 | -€27,909 | -80.3% |
| Gross operating margin | 9900 | €810,067 | €779,210 | -€30,857 | -3.8% |
| Operating profit (loss) | 9901 | €541,964 | €512,759 | -€29,206 | -5.4% |
| Financial income | 75/76B | €14,311 | €906 | -€13,406 | -93.7% |
| Recurring financial income | 75 | €14,311 | €906 | -€13,406 | -93.7% |
| Financial charges | 65/66B | €16,931 | €7,512 | -€9,419 | -55.6% |
| Recurring financial charges | 65 | €16,931 | €7,512 | -€9,419 | -55.6% |
| Profit (loss) for the period before taxes | 9903 | €539,344 | €506,152 | -€33,192 | -6.2% |
| Transfer from deferred taxes | 780 | €6,708 | €8,021 | +€1,313 | +19.6% |
| Income taxes | 67/77 | €180,677 | €135,225 | -€45,452 | -25.2% |
| Profit (loss) for the period | 9904 | €365,376 | €378,948 | +€13,572 | +3.7% |
| Transfer from tax-exempt reserves | 789 | €20,124 | €24,062 | +€3,938 | +19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €385,500 | €403,010 | +€17,511 | +4.5% |
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 29 September 2026 via checked.be.