RUTTEN - MAEX: 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.
RUTTEN - MAEX
Largest movements
- Cash +€18,852
up €18,852 (+20.6%), from €91,674 to €110,526
mainly Net result for the year (+€38,857) and Other debts (+€4,687)
- Tangible fixed assets +€18,279
up €18,279 (+186%), from €9,846 to €28,125
of which Furniture and vehicles: +€19,132
- Receivables within one year +€5,786
up €5,786 (+103%), from €5,640 to €11,426
of which Trade receivables: +€5,554
- Reserves +€38,857
up €38,857 (+178%), from €21,881 to €60,737
- Other debts +€4,687
up €4,687 (+6.4%), from €73,620 to €78,307
- Trade debts +€1,526
up €1,526 (+32.2%), from €4,745 to €6,271
- Gross operating margin +€29,669
up €29,669 (+82.5%), from €35,975 to €65,644
- Taxes +€14,705
up €14,705 (+209%), from €7,020 to €21,725
- Other operating charges -€2,004
down €2,004 (-65.7%), from €3,051 to €1,047
- Depreciation +€1,078
up €1,078 (+88.3%), from €1,222 to €2,300
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 | €107,159 | €151,077 | +€43,917 | +41.0% |
| Fixed assets | 21/28 | €9,846 | €28,125 | +€18,279 | +186% |
| Tangible fixed assets | 22/27 | €9,846 | €28,125 | +€18,279 | +186% |
| Plant, machinery and equipment | 23 | €8,191 | €7,338 | -€853 | -10.4% |
| Furniture and vehicles | 24 | €1,655 | €20,787 | +€19,132 | +1,156% |
| Current assets | 29/58 | €97,314 | €122,952 | +€25,638 | +26.3% |
| Stocks and contracts in progress | 3 | - | €1,000 | +€1,000 | |
| Stocks | 30/36 | - | €1,000 | +€1,000 | |
| Amounts receivable within one year | 40/41 | €5,640 | €11,426 | +€5,786 | +103% |
| Trade receivables | 40 | €5,535 | €11,089 | +€5,554 | +100% |
| Other amounts receivable | 41 | €104 | €337 | +€232 | +222% |
| Cash at bank and in hand | 54/58 | €91,674 | €110,526 | +€18,852 | +20.6% |
| Total equity and liabilities | 10/49 | €107,159 | €151,077 | +€43,917 | +41.0% |
| Equity | 10/15 | €21,881 | €60,737 | +€38,857 | +178% |
| Reserves | 13 | €21,881 | €60,737 | +€38,857 | +178% |
| Distributable reserves | 133 | €21,881 | €60,737 | +€38,857 | +178% |
| Amounts payable | 17/49 | €85,279 | €90,340 | +€5,061 | +5.9% |
| Amounts payable within one year | 42/48 | €83,698 | €90,116 | +€6,417 | +7.7% |
| Trade debts | 44 | €4,745 | €6,271 | +€1,526 | +32.2% |
| Suppliers | 440/4 | €4,745 | €6,271 | +€1,526 | +32.2% |
| Taxes, remuneration and social security | 45 | €5,333 | €5,538 | +€204 | +3.8% |
| Taxes | 450/3 | €5,333 | €5,538 | +€204 | +3.8% |
| Other amounts payable | 47/48 | €73,620 | €78,307 | +€4,687 | +6.4% |
| Accrued charges and deferred income | 492/3 | €1,581 | €224 | -€1,356 | -85.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,222 | €2,300 | +€1,078 | +88.3% |
| Other operating charges | 640/8 | €3,051 | €1,047 | -€2,004 | -65.7% |
| Gross operating margin | 9900 | €35,975 | €65,644 | +€29,669 | +82.5% |
| Operating profit (loss) | 9901 | €31,703 | €62,297 | +€30,595 | +96.5% |
| Financial income | 75/76B | €0 | €9 | +€9 | +45,050% |
| Recurring financial income | 75 | €0 | €9 | +€9 | +45,050% |
| Financial charges | 65/66B | €1,563 | €1,725 | +€161 | +10.3% |
| Recurring financial charges | 65 | €1,563 | €1,725 | +€161 | +10.3% |
| Profit (loss) for the period before taxes | 9903 | €30,139 | €60,582 | +€30,442 | +101% |
| Income taxes | 67/77 | €7,020 | €21,725 | +€14,705 | +209% |
| Profit (loss) for the period | 9904 | €23,119 | €38,857 | +€15,737 | +68.1% |
| Profit (loss) for the period to be appropriated | 9905 | €23,119 | €38,857 | +€15,737 | +68.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.