RUTHEM: 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.
RUTHEM
Largest movements
- Deferred charges and accrued income -€8,132
down €8,132 (-30.8%), from €26,413 to €18,282
- Receivables within one year -€6,994
down €6,994 (-9.5%), from €73,370 to €66,376
of which Trade receivables: -€29,325
- Tax, wage and social debts -€10,228
down €10,228 (-88.4%), from €11,565 to €1,337
of which Taxes: -€8,028
- Other debts -€4,961
down €4,961 (-13.0%), from €38,235 to €33,274
- Gross operating margin -€22,148
down €22,148 (-79.3%), from €27,924 to €5,776
- Taxes -€6,076
down €6,076 (-97.3%), from €6,246 to €171
- Depreciation +€394
up €394 (+39.3%), from €1,003 to €1,397
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 | €109,634 | €94,467 | -€15,167 | -13.8% |
| Fixed assets | 21/28 | €1,609 | €1,752 | +€142 | +8.8% |
| Tangible fixed assets | 22/27 | €1,609 | €1,752 | +€142 | +8.8% |
| Plant, machinery and equipment | 23 | €967 | €1,486 | +€519 | +53.6% |
| Furniture and vehicles | 24 | €642 | €266 | -€376 | -58.6% |
| Current assets | 29/58 | €108,024 | €92,715 | -€15,309 | -14.2% |
| Amounts receivable within one year | 40/41 | €73,370 | €66,376 | -€6,994 | -9.5% |
| Trade receivables | 40 | €29,325 | €0 | -€29,325 | -100.0% |
| Other amounts receivable | 41 | €44,045 | €66,376 | +€22,331 | +50.7% |
| Cash at bank and in hand | 54/58 | €8,241 | €8,058 | -€183 | -2.2% |
| Deferred charges and accrued income | 490/1 | €26,413 | €18,282 | -€8,132 | -30.8% |
| Total equity and liabilities | 10/49 | €109,634 | €94,467 | -€15,167 | -13.8% |
| Equity | 10/15 | €59,525 | €59,416 | -€109 | -0.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €47,125 | €47,125 | = | 0.0% |
| Distributable reserves | 133 | €47,125 | €47,125 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€109 | -€109 | |
| Amounts payable | 17/49 | €50,109 | €35,050 | -€15,058 | -30.1% |
| Amounts payable within one year | 42/48 | €50,109 | €35,050 | -€15,058 | -30.1% |
| Trade debts | 44 | €309 | €439 | +€130 | +42.2% |
| Suppliers | 440/4 | €309 | €439 | +€130 | +42.2% |
| Taxes, remuneration and social security | 45 | €11,565 | €1,337 | -€10,228 | -88.4% |
| Taxes | 450/3 | €9,365 | €1,337 | -€8,028 | -85.7% |
| Remuneration and social security | 454/9 | €2,200 | €0 | -€2,200 | -100.0% |
| Other amounts payable | 47/48 | €38,235 | €33,274 | -€4,961 | -13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,003 | €1,397 | +€394 | +39.3% |
| Other operating charges | 640/8 | €1,204 | €1,188 | -€16 | -1.3% |
| Gross operating margin | 9900 | €27,924 | €5,776 | -€22,148 | -79.3% |
| Operating profit (loss) | 9901 | €25,717 | €3,191 | -€22,526 | -87.6% |
| Financial income | 75/76B | €12 | €0 | -€12 | -100.0% |
| Recurring financial income | 75 | €12 | €0 | -€12 | -100.0% |
| Financial charges | 65/66B | €3,361 | €3,129 | -€232 | -6.9% |
| Recurring financial charges | 65 | €3,361 | €3,129 | -€232 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €22,368 | €62 | -€22,306 | -99.7% |
| Income taxes | 67/77 | €6,246 | €171 | -€6,076 | -97.3% |
| Profit (loss) for the period | 9904 | €16,121 | -€109 | -€16,230 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,121 | -€109 | -€16,230 |
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 7 October 2026 via checked.be.