RUZGAR12: 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.
RUZGAR12
Largest movements
- Receivables within one year +€6,614
up €6,614 (+778%), from €850 to €7,464
of which Trade receivables: +€4,085
- Tangible fixed assets -€6,595
down €6,595 (-16.5%), from €39,982 to €33,387
- Stocks and contracts +€2,795
new in 2025: €2,795
- Deferred charges and accrued income -€1,598
no longer reported in 2025 (was €1,598)
- Cash -€1,234
down €1,234 (-23.4%), from €5,270 to €4,035
mainly Net result for the year (-€31,049) and Debts after one year (-€7,114)
- Profit (loss) carried forward -€31,049
down €31,049 (-347%), from -€8,948 to -€39,997
- Trade debts +€20,552
up €20,552 (+569%), from €3,612 to €24,164
- Tax, wage and social debts +€10,025
up €10,025 (+526%), from €1,904 to €11,929
of which Taxes: +€10,164
- Debts after one year -€7,114
down €7,114 (-23.6%), from €30,175 to €23,061
- Other debts +€4,800
up €4,800 (+41.3%), from €11,610 to €16,410
- Staff costs +€21,676
up €21,676 (+123%), from €17,609 to €39,285
- Gross operating margin +€9,095
up €9,095 (+87.6%), from €10,378 to €19,474
- Depreciation +€8,203
up €8,203 (+4,292%), from €191 to €8,395
- Other operating charges +€825
up €825 (+145%), from €567 to €1,392
- Financial charges +€492
up €492 (+51.3%), from €959 to €1,451
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 | €47,700 | €47,682 | -€18 | 0.0% |
| Fixed assets | 21/28 | €39,982 | €33,387 | -€6,595 | -16.5% |
| Tangible fixed assets | 22/27 | €39,982 | €33,387 | -€6,595 | -16.5% |
| Furniture and vehicles | 24 | €39,982 | €33,387 | -€6,595 | -16.5% |
| Current assets | 29/58 | €7,718 | €14,295 | +€6,577 | +85.2% |
| Stocks and contracts in progress | 3 | - | €2,795 | +€2,795 | |
| Stocks | 30/36 | - | €2,795 | +€2,795 | |
| Amounts receivable within one year | 40/41 | €850 | €7,464 | +€6,614 | +778% |
| Trade receivables | 40 | - | €4,085 | +€4,085 | |
| Other amounts receivable | 41 | €850 | €3,380 | +€2,530 | +298% |
| Cash at bank and in hand | 54/58 | €5,270 | €4,035 | -€1,234 | -23.4% |
| Deferred charges and accrued income | 490/1 | €1,598 | - | -€1,598 | |
| Total equity and liabilities | 10/49 | €47,700 | €47,682 | -€18 | 0.0% |
| Equity | 10/15 | -€6,448 | -€34,997 | -€28,549 | -443% |
| Contributions | 10/11 | €2,500 | €5,000 | +€2,500 | +100% |
| Profit (loss) carried forward | 14 | -€8,948 | -€39,997 | -€31,049 | -347% |
| Amounts payable | 17/49 | €54,147 | €82,679 | +€28,531 | +52.7% |
| Amounts payable after more than one year | 17 | €30,175 | €23,061 | -€7,114 | -23.6% |
| Financial debts | 170/4 | €30,175 | €23,061 | -€7,114 | -23.6% |
| Amounts payable within one year | 42/48 | €23,972 | €59,618 | +€35,645 | +149% |
| Current portion of amounts payable after more than one year | 42 | €6,846 | €7,114 | +€268 | +3.9% |
| Trade debts | 44 | €3,612 | €24,164 | +€20,552 | +569% |
| Suppliers | 440/4 | €3,612 | €24,164 | +€20,552 | +569% |
| Taxes, remuneration and social security | 45 | €1,904 | €11,929 | +€10,025 | +526% |
| Taxes | 450/3 | - | €10,164 | +€10,164 | |
| Remuneration and social security | 454/9 | €1,904 | €1,765 | -€140 | -7.3% |
| Other amounts payable | 47/48 | €11,610 | €16,410 | +€4,800 | +41.3% |
| Remuneration, social security and pensions | 62 | €17,609 | €39,285 | +€21,676 | +123% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €191 | €8,395 | +€8,203 | +4,292% |
| Other operating charges | 640/8 | €567 | €1,392 | +€825 | +145% |
| Gross operating margin | 9900 | €10,378 | €19,474 | +€9,095 | +87.6% |
| Operating profit (loss) | 9901 | -€7,989 | -€29,598 | -€21,609 | -270% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €959 | €1,451 | +€492 | +51.3% |
| Recurring financial charges | 65 | €959 | €1,451 | +€492 | +51.3% |
| Profit (loss) for the period before taxes | 9903 | -€8,948 | -€31,049 | -€22,101 | -247% |
| Profit (loss) for the period | 9904 | -€8,948 | -€31,049 | -€22,101 | -247% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,948 | -€31,049 | -€22,101 | -247% |
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 13 October 2026 via checked.be.