RUTMA: 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.
RUTMA
Largest movements
- Tangible fixed assets +€277,223
up €277,223 (+45.5%), from €608,653 to €885,876
of which Other tangible fixed assets: +€260,216
- Receivables within one year -€158,438
down €158,438 (-18.8%), from €841,101 to €682,663
of which Other amounts receivable: -€185,821
- Stocks and contracts +€79,971
up €79,971 (+18.2%), from €440,266 to €520,237
- Cash -€52,774
down €52,774 (-24.4%), from €216,484 to €163,710
mainly Investment in fixed assets (net) (-€406,148) and Net result for the year (-€98,304)
- Other debts +€341,182
up €341,182 (+64.6%), from €527,818 to €869,000
- Profit (loss) carried forward -€98,304
down €98,304 (-109.1%), from -€90,095 to -€188,399
- Trade debts -€50,367
down €50,367 (-29.6%), from €170,385 to €120,018
- Tax, wage and social debts -€38,679
down €38,679 (-27.9%), from €138,402 to €99,723
of which Taxes: -€23,280
- Gross operating margin -€51,041
down €51,041 (-4.7%), from €1.1m to €1.0m
- Depreciation +€41,683
up €41,683 (+47.8%), from €87,242 to €128,925
- Staff costs +€37,241
up €37,241 (+4.0%), from €935,409 to €972,650
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 | €2,221,754 | €2,367,966 | +€146,213 | +6.6% |
| Fixed assets | 21/28 | €614,663 | €891,886 | +€277,223 | +45.1% |
| Tangible fixed assets | 22/27 | €608,653 | €885,876 | +€277,223 | +45.5% |
| Land and buildings | 22 | €82,693 | €81,208 | -€1,485 | -1.8% |
| Plant, machinery and equipment | 23 | €132,238 | €149,104 | +€16,866 | +12.8% |
| Furniture and vehicles | 24 | €4,657 | €6,283 | +€1,626 | +34.9% |
| Other tangible fixed assets | 26 | €389,064 | €649,280 | +€260,216 | +66.9% |
| Financial fixed assets | 28 | €6,010 | €6,010 | = | 0.0% |
| Current assets | 29/58 | €1,607,091 | €1,476,081 | -€131,010 | -8.2% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €440,266 | €520,237 | +€79,971 | +18.2% |
| Stocks | 30/36 | €440,266 | €520,237 | +€79,971 | +18.2% |
| Amounts receivable within one year | 40/41 | €841,101 | €682,663 | -€158,438 | -18.8% |
| Trade receivables | 40 | €407,823 | €435,206 | +€27,383 | +6.7% |
| Other amounts receivable | 41 | €433,278 | €247,457 | -€185,821 | -42.9% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €216,484 | €163,710 | -€52,774 | -24.4% |
| Deferred charges and accrued income | 490/1 | €9,240 | €9,470 | +€231 | +2.5% |
| Total equity and liabilities | 10/49 | €2,221,754 | €2,367,966 | +€146,213 | +6.6% |
| Equity | 10/15 | €592,132 | €493,828 | -€98,304 | -16.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €620,227 | €620,227 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €614,027 | €614,027 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€90,095 | -€188,399 | -€98,304 | -109.1% |
| Amounts payable | 17/49 | €1,629,621 | €1,874,138 | +€244,517 | +15.0% |
| Amounts payable after more than one year | 17 | €540,390 | €527,335 | -€13,056 | -2.4% |
| Financial debts | 170/4 | €138,028 | €170,460 | +€32,432 | +23.5% |
| Trade debts | 175 | €402,062 | €356,574 | -€45,488 | -11.3% |
| Other amounts payable | 178/9 | €300 | €300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,057,853 | €1,329,236 | +€271,383 | +25.7% |
| Current portion of amounts payable after more than one year | 42 | €31,248 | €50,495 | +€19,247 | +61.6% |
| Trade debts | 44 | €170,385 | €120,018 | -€50,367 | -29.6% |
| Suppliers | 440/4 | €170,385 | €120,018 | -€50,367 | -29.6% |
| Advances received on contracts in progress | 46 | €190,000 | €190,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €138,402 | €99,723 | -€38,679 | -27.9% |
| Taxes | 450/3 | €23,534 | €254 | -€23,280 | -98.9% |
| Remuneration and social security | 454/9 | €114,869 | €99,470 | -€15,399 | -13.4% |
| Other amounts payable | 47/48 | €527,818 | €869,000 | +€341,182 | +64.6% |
| Accrued charges and deferred income | 492/3 | €31,378 | €17,568 | -€13,810 | -44.0% |
| Remuneration, social security and pensions | 62 | €935,409 | €972,650 | +€37,241 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,242 | €128,925 | +€41,683 | +47.8% |
| Other operating charges | 640/8 | €9,535 | €10,001 | +€465 | +4.9% |
| Gross operating margin | 9900 | €1,093,580 | €1,042,539 | -€51,041 | -4.7% |
| Operating profit (loss) | 9901 | €61,394 | -€69,037 | -€130,431 | |
| Financial income | 75/76B | €1,813 | €718 | -€1,094 | -60.4% |
| Recurring financial income | 75 | €1,813 | €718 | -€1,094 | -60.4% |
| Financial charges | 65/66B | €19,761 | €29,727 | +€9,966 | +50.4% |
| Recurring financial charges | 65 | €19,761 | €29,727 | +€9,966 | +50.4% |
| Profit (loss) for the period before taxes | 9903 | €43,446 | -€98,045 | -€141,491 | |
| Income taxes | 67/77 | €323 | €259 | -€64 | -19.8% |
| Profit (loss) for the period | 9904 | €43,123 | -€98,304 | -€141,427 | |
| Profit (loss) for the period to be appropriated | 9905 | €43,123 | -€98,304 | -€141,427 |
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 11 October 2026 via checked.be.