Rustpunt: 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.
Rustpunt
Largest movements
- Tangible fixed assets -€147,132
down €147,132 (-5.8%), from €2.5m to €2.4m
of which Land and buildings: -€131,390
- Receivables within one year -€57,750
down €57,750 (-27.7%), from €208,435 to €150,685
of which Trade receivables: -€84,574
- Debts after one year -€152,871
down €152,871 (-8.8%), from €1.7m to €1.6m
- Reserves -€140,600
down €140,600 (-40.6%), from €346,517 to €205,917
of which Distributable reserves: -€138,740
- Other debts +€119,238
up €119,238 (+1788.8%), from €6,666 to €125,903
- Trade debts -€71,289
down €71,289 (-55.5%), from €128,540 to €57,252
- Tax, wage and social debts +€34,592
up €34,592 (+105.7%), from €32,725 to €67,317
of which Taxes: +€24,233
- Staff costs +€77,434
up €77,434 (+24.2%), from €320,020 to €397,454
- Taxes -€67,898
down €67,898, from €49,466 to -€18,432
- Gross operating margin +€39,364
up €39,364 (+5.7%), from €688,240 to €727,604
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 | €2,941,545 | €2,734,798 | -€206,747 | -7.0% |
| Fixed assets | 21/28 | €2,547,579 | €2,399,658 | -€147,921 | -5.8% |
| Tangible fixed assets | 22/27 | €2,540,179 | €2,393,047 | -€147,132 | -5.8% |
| Land and buildings | 22 | €2,416,160 | €2,284,770 | -€131,390 | -5.4% |
| Plant, machinery and equipment | 23 | €47,763 | €32,837 | -€14,926 | -31.3% |
| Furniture and vehicles | 24 | €76,256 | €75,440 | -€815 | -1.1% |
| Financial fixed assets | 28 | €7,400 | €6,611 | -€789 | -10.7% |
| Current assets | 29/58 | €393,966 | €335,140 | -€58,826 | -14.9% |
| Stocks and contracts in progress | 3 | €16,043 | €15,438 | -€605 | -3.8% |
| Stocks | 30/36 | €16,043 | €15,438 | -€605 | -3.8% |
| Amounts receivable within one year | 40/41 | €208,435 | €150,685 | -€57,750 | -27.7% |
| Trade receivables | 40 | €163,832 | €79,257 | -€84,574 | -51.6% |
| Other amounts receivable | 41 | €44,603 | €71,428 | +€26,824 | +60.1% |
| Cash at bank and in hand | 54/58 | €169,488 | €169,017 | -€471 | -0.3% |
| Total equity and liabilities | 10/49 | €2,941,545 | €2,734,798 | -€206,747 | -7.0% |
| Equity | 10/15 | €886,955 | €751,557 | -€135,399 | -15.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €346,517 | €205,917 | -€140,600 | -40.6% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €344,657 | €205,917 | -€138,740 | -40.3% |
| Profit (loss) carried forward | 14 | €521,838 | €527,040 | +€5,201 | +1.0% |
| Amounts payable | 17/49 | €2,054,589 | €1,983,241 | -€71,348 | -3.5% |
| Amounts payable after more than one year | 17 | €1,732,358 | €1,579,487 | -€152,871 | -8.8% |
| Financial debts | 170/4 | €1,732,358 | €1,579,487 | -€152,871 | -8.8% |
| Amounts payable within one year | 42/48 | €322,231 | €403,754 | +€81,523 | +25.3% |
| Current portion of amounts payable after more than one year | 42 | €154,300 | €153,283 | -€1,018 | -0.7% |
| Trade debts | 44 | €128,540 | €57,252 | -€71,289 | -55.5% |
| Suppliers | 440/4 | €128,540 | €57,252 | -€71,289 | -55.5% |
| Taxes, remuneration and social security | 45 | €32,725 | €67,317 | +€34,592 | +105.7% |
| Taxes | 450/3 | €8,638 | €32,870 | +€24,233 | +280.5% |
| Remuneration and social security | 454/9 | €24,087 | €34,447 | +€10,359 | +43.0% |
| Other amounts payable | 47/48 | €6,666 | €125,903 | +€119,238 | +1788.8% |
| Remuneration, social security and pensions | 62 | €320,020 | €397,454 | +€77,434 | +24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €239,776 | €245,898 | +€6,122 | +2.6% |
| Other operating charges | 640/8 | €2,652 | €2,937 | +€286 | +10.8% |
| Gross operating margin | 9900 | €688,240 | €727,604 | +€39,364 | +5.7% |
| Operating profit (loss) | 9901 | €125,792 | €81,315 | -€44,478 | -35.4% |
| Financial income | 75/76B | €6,593 | €586 | -€6,007 | -91.1% |
| Recurring financial income | 75 | €6,593 | €586 | -€6,007 | -91.1% |
| Financial charges | 65/66B | €38,263 | €35,731 | -€2,532 | -6.6% |
| Recurring financial charges | 65 | €38,263 | €35,731 | -€2,532 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €94,123 | €46,169 | -€47,953 | -50.9% |
| Income taxes | 67/77 | €49,466 | -€18,432 | -€67,898 | |
| Profit (loss) for the period | 9904 | €44,657 | €64,601 | +€19,945 | +44.7% |
| Profit (loss) for the period to be appropriated | 9905 | €44,657 | €64,601 | +€19,945 | +44.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.