RUTSAERT: 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.
RUTSAERT
Largest movements
- Cash +€37,326
up €37,326 (+14.2%), from €262,708 to €300,034
mainly Net result for the year (+€77,791) and Other debts (+€28,857)
- Tangible fixed assets -€24,330
down €24,330 (-46.5%), from €52,355 to €28,026
of which Furniture and vehicles: -€15,200
- Receivables within one year -€13,234
down €13,234 (-75.8%), from €17,468 to €4,235
of which Trade receivables: -€9,983
- Tax, wage and social debts -€32,053
down €32,053 (-97.1%), from €33,000 to €948
- Other debts +€28,857
up €28,857 (+24.1%), from €119,541 to €148,398
- Gross operating margin -€86,649
down €86,649 (-39.3%), from €220,341 to €133,692
- Taxes -€27,304
down €27,304 (-46.9%), from €58,210 to €30,906
- Depreciation -€3,934
down €3,934 (-13.9%), from €28,264 to €24,330
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.
Derived cash bridge
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 | €735,343 | €735,488 | +€145 | 0.0% |
| Fixed assets | 21/28 | €52,355 | €28,026 | -€24,330 | -46.5% |
| Tangible fixed assets | 22/27 | €52,355 | €28,026 | -€24,330 | -46.5% |
| Plant, machinery and equipment | 23 | €11,354 | €2,224 | -€9,130 | -80.4% |
| Furniture and vehicles | 24 | €41,002 | €25,801 | -€15,200 | -37.1% |
| Current assets | 29/58 | €682,987 | €707,462 | +€24,475 | +3.6% |
| Amounts receivable within one year | 40/41 | €17,468 | €4,235 | -€13,234 | -75.8% |
| Trade receivables | 40 | €9,983 | - | -€9,983 | |
| Other amounts receivable | 41 | €7,485 | €4,235 | -€3,250 | -43.4% |
| Current investments | 50/53 | €400,000 | €400,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €262,708 | €300,034 | +€37,326 | +14.2% |
| Deferred charges and accrued income | 490/1 | €2,811 | €3,193 | +€382 | +13.6% |
| Total equity and liabilities | 10/49 | €735,343 | €735,488 | +€145 | 0.0% |
| Equity | 10/15 | €582,802 | €586,142 | +€3,340 | +0.6% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €397,337 | €400,677 | +€3,340 | +0.8% |
| Distributable reserves | 133 | €397,337 | €400,677 | +€3,340 | +0.8% |
| Profit (loss) carried forward | 14 | €5,465 | €5,465 | -€0 | 0.0% |
| Amounts payable | 17/49 | €152,541 | €149,346 | -€3,195 | -2.1% |
| Amounts payable within one year | 42/48 | €152,541 | €149,346 | -€3,195 | -2.1% |
| Taxes, remuneration and social security | 45 | €33,000 | €948 | -€32,053 | -97.1% |
| Taxes | 450/3 | €33,000 | €948 | -€32,053 | -97.1% |
| Other amounts payable | 47/48 | €119,541 | €148,398 | +€28,857 | +24.1% |
| Remuneration, social security and pensions | 62 | €105 | €401 | +€296 | +281% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,264 | €24,330 | -€3,934 | -13.9% |
| Other operating charges | 640/8 | €1,428 | €1,193 | -€235 | -16.5% |
| Gross operating margin | 9900 | €220,341 | €133,692 | -€86,649 | -39.3% |
| Operating profit (loss) | 9901 | €190,544 | €107,768 | -€82,776 | -43.4% |
| Financial income | 75/76B | €1,982 | €1,339 | -€643 | -32.4% |
| Recurring financial income | 75 | €1,982 | €1,339 | -€643 | -32.4% |
| Financial charges | 65/66B | €300 | €409 | +€109 | +36.5% |
| Recurring financial charges | 65 | €300 | €409 | +€109 | +36.5% |
| Profit (loss) for the period before taxes | 9903 | €192,226 | €108,697 | -€83,528 | -43.5% |
| Income taxes | 67/77 | €58,210 | €30,906 | -€27,304 | -46.9% |
| Profit (loss) for the period | 9904 | €134,015 | €77,791 | -€56,224 | -42.0% |
| Profit (loss) for the period to be appropriated | 9905 | €134,015 | €77,791 | -€56,224 | -42.0% |
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 15 October 2026 via checked.be.