RUVIN: 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.
RUVIN
Largest movements
- Cash +€148,970
up €148,970 (+48.8%), from €305,542 to €454,512
mainly Stocks and contracts (+€124,745) and Net result for the year (+€102,135)
- Stocks and contracts -€124,745
down €124,745 (-100.0%), from €124,745 to €0
- Receivables within one year -€81,965
down €81,965 (-64.7%), from €126,713 to €44,748
of which Trade receivables: -€90,717
- Tangible fixed assets +€8,878
up €8,878 (+5.8%), from €152,658 to €161,537
of which Other tangible fixed assets: +€43,323
- Trade debts -€105,166
down €105,166 (-98.5%), from €106,783 to €1,617
- Reserves +€55,196
up €55,196 (+9.9%), from €556,242 to €611,438
- Tax, wage and social debts +€27,308
up €27,308 (+1019.3%), from €2,679 to €29,987
- Other debts -€25,407
down €25,407 (-76.0%), from €33,417 to €8,009
- Gross operating margin +€24,269
up €24,269 (+13.8%), from €176,320 to €200,589
- Taxes +€7,224
up €7,224 (+19.6%), from €36,891 to €44,114
- Depreciation +€4,745
up €4,745 (+11.0%), from €42,992 to €47,737
- Staff costs +€2,354
up €2,354 (+201.5%), from €1,169 to €3,523
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 | €717,720 | €669,651 | -€48,069 | -6.7% |
| Fixed assets | 21/28 | €152,658 | €161,537 | +€8,878 | +5.8% |
| Tangible fixed assets | 22/27 | €152,658 | €161,537 | +€8,878 | +5.8% |
| Plant, machinery and equipment | 23 | €35,551 | €24,340 | -€11,211 | -31.5% |
| Furniture and vehicles | 24 | €94,715 | €71,481 | -€23,234 | -24.5% |
| Other tangible fixed assets | 26 | €22,393 | €65,716 | +€43,323 | +193.5% |
| Current assets | 29/58 | €565,062 | €508,115 | -€56,947 | -10.1% |
| Stocks and contracts in progress | 3 | €124,745 | €0 | -€124,745 | -100.0% |
| Contracts in progress | 37 | €124,745 | €0 | -€124,745 | -100.0% |
| Amounts receivable within one year | 40/41 | €126,713 | €44,748 | -€81,965 | -64.7% |
| Trade receivables | 40 | €92,671 | €1,954 | -€90,717 | -97.9% |
| Other amounts receivable | 41 | €34,042 | €42,793 | +€8,752 | +25.7% |
| Cash at bank and in hand | 54/58 | €305,542 | €454,512 | +€148,970 | +48.8% |
| Deferred charges and accrued income | 490/1 | €8,062 | €8,855 | +€793 | +9.8% |
| Total equity and liabilities | 10/49 | €717,720 | €669,651 | -€48,069 | -6.7% |
| Equity | 10/15 | €574,842 | €630,038 | +€55,196 | +9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €556,242 | €611,438 | +€55,196 | +9.9% |
| Distributable reserves | 133 | €556,242 | €611,438 | +€55,196 | +9.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €142,879 | €39,613 | -€103,265 | -72.3% |
| Amounts payable within one year | 42/48 | €142,879 | €39,613 | -€103,265 | -72.3% |
| Trade debts | 44 | €106,783 | €1,617 | -€105,166 | -98.5% |
| Suppliers | 440/4 | €106,783 | €1,617 | -€105,166 | -98.5% |
| Taxes, remuneration and social security | 45 | €2,679 | €29,987 | +€27,308 | +1019.3% |
| Taxes | 450/3 | €2,679 | €29,987 | +€27,308 | +1019.3% |
| Other amounts payable | 47/48 | €33,417 | €8,009 | -€25,407 | -76.0% |
| Remuneration, social security and pensions | 62 | €1,169 | €3,523 | +€2,354 | +201.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,992 | €47,737 | +€4,745 | +11.0% |
| Other operating charges | 640/8 | €2,925 | €2,798 | -€128 | -4.4% |
| Gross operating margin | 9900 | €176,320 | €200,589 | +€24,269 | +13.8% |
| Operating profit (loss) | 9901 | €129,234 | €146,531 | +€17,297 | +13.4% |
| Financial income | 75/76B | - | €138 | +€138 | |
| Recurring financial income | 75 | - | €138 | +€138 | |
| Financial charges | 65/66B | €574 | €420 | -€154 | -26.8% |
| Recurring financial charges | 65 | €574 | €420 | -€154 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | €128,660 | €146,249 | +€17,589 | +13.7% |
| Income taxes | 67/77 | €36,891 | €44,114 | +€7,224 | +19.6% |
| Profit (loss) for the period | 9904 | €91,769 | €102,135 | +€10,366 | +11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €91,769 | €102,135 | +€10,366 | +11.3% |
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 6 October 2026 via checked.be.