RUVAR: 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.
RUVAR
Largest movements
- Tangible fixed assets +€282,582
up €282,582 (+98.3%), from €287,379 to €569,961
of which Furniture and vehicles: +€283,912
- Receivables within one year -€196,670
down €196,670 (-71.3%), from €275,912 to €79,242
of which Trade receivables: -€217,085
- Deferred charges and accrued income +€16,693
up €16,693 (+216.1%), from €7,725 to €24,418
- Cash +€8,171
up €8,171 (+36.1%), from €22,610 to €30,780
mainly Receivables within one year (+€196,670) and Debts after one year (+€193,749)
- Debts after one year +€193,749
up €193,749 (+143.3%), from €135,219 to €328,967
- Reserves -€94,433
down €94,433 (-44.5%), from €212,289 to €117,856
of which Tax-exempt reserves: -€100,000
- Trade debts -€49,747
down €49,747 (-34.5%), from €144,019 to €94,272
- Current portion of long-term debt +€48,937
up €48,937 (+108.0%), from €45,328 to €94,265
- Other debts +€7,939
up €7,939 (+32.8%), from €24,200 to €32,138
- Staff costs +€60,072
up €60,072 (+72.4%), from €82,957 to €143,029
- Gross operating margin -€43,952
down €43,952 (-22.7%), from €193,418 to €149,466
- Other operating charges +€26,787
up €26,787 (+110.0%), from €24,350 to €51,137
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 | €594,295 | €705,071 | +€110,776 | +18.6% |
| Fixed assets | 21/28 | €288,049 | €570,631 | +€282,582 | +98.1% |
| Tangible fixed assets | 22/27 | €287,379 | €569,961 | +€282,582 | +98.3% |
| Plant, machinery and equipment | 23 | €245,540 | €244,209 | -€1,330 | -0.5% |
| Furniture and vehicles | 24 | €41,839 | €325,751 | +€283,912 | +678.6% |
| Financial fixed assets | 28 | €670 | €670 | = | 0.0% |
| Current assets | 29/58 | €306,246 | €134,440 | -€171,806 | -56.1% |
| Amounts receivable within one year | 40/41 | €275,912 | €79,242 | -€196,670 | -71.3% |
| Trade receivables | 40 | €275,898 | €58,813 | -€217,085 | -78.7% |
| Other amounts receivable | 41 | €14 | €20,429 | +€20,415 | +147295.4% |
| Cash at bank and in hand | 54/58 | €22,610 | €30,780 | +€8,171 | +36.1% |
| Deferred charges and accrued income | 490/1 | €7,725 | €24,418 | +€16,693 | +216.1% |
| Total equity and liabilities | 10/49 | €594,295 | €705,071 | +€110,776 | +18.6% |
| Equity | 10/15 | €230,889 | €136,456 | -€94,433 | -40.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €212,289 | €117,856 | -€94,433 | -44.5% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Tax-exempt reserves | 132 | €139,209 | €39,209 | -€100,000 | -71.8% |
| Distributable reserves | 133 | €71,220 | €78,647 | +€7,427 | +10.4% |
| Amounts payable | 17/49 | €363,406 | €568,615 | +€205,209 | +56.5% |
| Amounts payable after more than one year | 17 | €135,219 | €328,967 | +€193,749 | +143.3% |
| Financial debts | 170/4 | €135,219 | €328,967 | +€193,749 | +143.3% |
| Amounts payable within one year | 42/48 | €228,147 | €239,506 | +€11,359 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €45,328 | €94,265 | +€48,937 | +108.0% |
| Trade debts | 44 | €144,019 | €94,272 | -€49,747 | -34.5% |
| Suppliers | 440/4 | €144,019 | €94,272 | -€49,747 | -34.5% |
| Taxes, remuneration and social security | 45 | €14,601 | €18,831 | +€4,230 | +29.0% |
| Taxes | 450/3 | €2,138 | €1,402 | -€736 | -34.4% |
| Remuneration and social security | 454/9 | €12,462 | €17,429 | +€4,967 | +39.9% |
| Other amounts payable | 47/48 | €24,200 | €32,138 | +€7,939 | +32.8% |
| Accrued charges and deferred income | 492/3 | €40 | €141 | +€101 | +256.6% |
| Remuneration, social security and pensions | 62 | €82,957 | €143,029 | +€60,072 | +72.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,068 | €44,682 | -€1,385 | -3.0% |
| Other operating charges | 640/8 | €24,350 | €51,137 | +€26,787 | +110.0% |
| Gross operating margin | 9900 | €193,418 | €149,466 | -€43,952 | -22.7% |
| Operating profit (loss) | 9901 | €40,044 | -€89,383 | -€129,426 | |
| Financial income | 75/76B | €7 | €0 | -€6 | -94.5% |
| Recurring financial income | 75 | €7 | €0 | -€6 | -94.5% |
| Financial charges | 65/66B | €5,322 | €5,050 | -€272 | -5.1% |
| Recurring financial charges | 65 | €5,322 | €5,050 | -€272 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €34,728 | -€94,433 | -€129,161 | |
| Profit (loss) for the period | 9904 | €34,728 | -€94,433 | -€129,161 | |
| Transfer to tax-exempt reserves | 689 | €49,000 | €0 | -€49,000 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,272 | -€94,433 | -€80,161 | -561.7% |
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 5 October 2026 via checked.be.