RUZZI: 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.
RUZZI
Largest movements
- Receivables within one year -€34,603
down €34,603 (-6.0%), from €573,754 to €539,151
of which Other amounts receivable: -€38,089
- Reserves -€76,466
down €76,466 (-36.4%), from €209,944 to €133,478
- Short-term financial debts +€56,833
up €56,833 (+8.3%), from €686,744 to €743,577
- Debts after one year -€23,868
down €23,868 (-11.3%), from €210,332 to €186,464
- Other debts +€20,161
up €20,161 (+11.4%), from €177,185 to €197,346
- Trade debts -€16,070
down €16,070 (-7.4%), from €215,817 to €199,747
- Gross operating margin -€114,030
down €114,030, from €99,436 to -€14,594
- Financial charges -€35,599
down €35,599 (-42.6%), from €83,607 to €48,008
- Taxes -€3,629
down €3,629 (-100.0%), from €3,629 to €0
- Depreciation +€1,340
up €1,340 (+79.3%), from €1,689 to €3,030
- Other operating charges +€1,169
up €1,169 (+88.0%), from €1,328 to €2,498
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 | €1,549,952 | €1,506,305 | -€43,647 | -2.8% |
| Fixed assets | 21/28 | €13,072 | €10,042 | -€3,030 | -23.2% |
| Tangible fixed assets | 22/27 | €12,672 | €9,642 | -€3,030 | -23.9% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €9,556 | €7,306 | -€2,251 | -23.6% |
| Other tangible fixed assets | 26 | €3,115 | €2,337 | -€779 | -25.0% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €1,536,880 | €1,496,262 | -€40,617 | -2.6% |
| Stocks and contracts in progress | 3 | €959,115 | €956,672 | -€2,443 | -0.3% |
| Stocks | 30/36 | €959,115 | €956,672 | -€2,443 | -0.3% |
| Amounts receivable within one year | 40/41 | €573,754 | €539,151 | -€34,603 | -6.0% |
| Trade receivables | 40 | €158,501 | €161,987 | +€3,486 | +2.2% |
| Other amounts receivable | 41 | €415,254 | €377,164 | -€38,089 | -9.2% |
| Cash at bank and in hand | 54/58 | €4,011 | €439 | -€3,571 | -89.0% |
| Total equity and liabilities | 10/49 | €1,549,952 | €1,506,305 | -€43,647 | -2.8% |
| Equity | 10/15 | €216,142 | €139,676 | -€76,466 | -35.4% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €209,944 | €133,478 | -€76,466 | -36.4% |
| Distributable reserves | 133 | €209,944 | €133,478 | -€76,466 | -36.4% |
| Amounts payable | 17/49 | €1,333,810 | €1,366,629 | +€32,819 | +2.5% |
| Amounts payable after more than one year | 17 | €210,332 | €186,464 | -€23,868 | -11.3% |
| Financial debts | 170/4 | €210,332 | €186,464 | -€23,868 | -11.3% |
| Amounts payable within one year | 42/48 | €1,116,810 | €1,178,168 | +€61,357 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €23,435 | €23,868 | +€434 | +1.9% |
| Financial debts | 43 | €686,744 | €743,577 | +€56,833 | +8.3% |
| Credit institutions | 430/8 | €686,744 | €743,577 | +€56,833 | +8.3% |
| Trade debts | 44 | €215,817 | €199,747 | -€16,070 | -7.4% |
| Suppliers | 440/4 | €215,817 | €199,747 | -€16,070 | -7.4% |
| Advances received on contracts in progress | 46 | €10,000 | €10,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,629 | €3,629 | = | 0.0% |
| Taxes | 450/3 | €3,629 | €3,629 | = | 0.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €177,185 | €197,346 | +€20,161 | +11.4% |
| Accrued charges and deferred income | 492/3 | €6,668 | €1,998 | -€4,670 | -70.0% |
| Non-recurring operating income | 76A | €560 | €0 | -€560 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,689 | €3,030 | +€1,340 | +79.3% |
| Other operating charges | 640/8 | €1,328 | €2,498 | +€1,169 | +88.0% |
| Non-recurring operating charges | 66A | €0 | €8,337 | +€8,337 | |
| Gross operating margin | 9900 | €99,436 | -€14,594 | -€114,030 | |
| Operating profit (loss) | 9901 | €96,418 | -€28,458 | -€124,876 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €83,607 | €48,008 | -€35,599 | -42.6% |
| Recurring financial charges | 65 | €83,607 | €48,008 | -€35,599 | -42.6% |
| Profit (loss) for the period before taxes | 9903 | €12,812 | -€76,466 | -€89,278 | |
| Income taxes | 67/77 | €3,629 | €0 | -€3,629 | -100.0% |
| Profit (loss) for the period | 9904 | €9,183 | -€76,466 | -€85,649 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,183 | -€76,466 | -€85,649 |
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 3 October 2026 via checked.be.