RY 20: what changed
What changed
RY 20
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€1,967
2024 · €160,168-€162,135
Equity
€1.7m
2024 · €1.7m-€1,967
Cash
€202,721
2024 · €631,550-€428,829
Balance sheet total
€1.8m
2024 · €1.8m-€26,341
Largest movements
Assets
- Cash -€428,829
down €428,829 (-67.9%), from €631,550 to €202,721
mainly Current investments (-€400,000) and Receivables after one year (-€21,000)
- Current investments +€400,000
up €400,000 (+200%), from €200,000 to €600,000
- Receivables after one year +€21,000
up €21,000 (+3.1%), from €679,000 to €700,000
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income -€168,402
down €168,402 (-93.9%), from €179,339 to €10,937
of which Non-recurring financial income: -€166,667
- Taxes +€61,149
up €61,149 (+97.8%), from -€62,542 to -€1,393
- Provisions -€40,000
no longer reported in 2025 (was €40,000)
- Gross operating margin +€24,300
up €24,300, from -€19,757 to €4,543
- Other operating charges -€1,834
down €1,834 (-51.7%), from €3,545 to €1,711
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€160,168
Gross operating margin
+€24,300
Depreciation
+€463
Provisions
+€40,000
Other operating charges
+€1,834
Financial income
-€168,402
Financial charges
+€819
Taxes
-€61,149
Result 2025
-€1,967
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€12,089
Investment
-€400,000
Financing
-€16,740
Cash 2024
€631,550
From operations (derived)
-€12,089
Net result for the year
-€1,967
Depreciation
+€16,081
Receivables after one year
-€21,000
Receivables within one year
+€1,046
Deferred charges and accrued income
+€1,385
Trade debts
-€1,383
Tax, wage and social debts
-€12,796
Smaller working-capital items
+€550
Other debts
+€5,995
Investment (derived)
-€400,000
Current investments
-€400,000
Financing
-€16,740
Debts after one year
-€12,130
Current portion of long-term debt
-€4,610
Cash 2025
€202,721
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,832,945 | €1,806,604 | -€26,341 | -1.4% |
| Fixed assets | 21/28 | €307,325 | €291,245 | -€16,081 | -5.2% |
| Tangible fixed assets | 22/27 | €307,325 | €291,245 | -€16,081 | -5.2% |
| Land and buildings | 22 | €305,104 | €289,794 | -€15,309 | -5.0% |
| Plant, machinery and equipment | 23 | €242 | €162 | -€81 | -33.3% |
| Other tangible fixed assets | 26 | €1,979 | €1,289 | -€690 | -34.9% |
| Current assets | 29/58 | €1,525,620 | €1,515,360 | -€10,260 | -0.7% |
| Amounts receivable after more than one year | 29 | €679,000 | €700,000 | +€21,000 | +3.1% |
| Other amounts receivable | 291 | €679,000 | €700,000 | +€21,000 | +3.1% |
| Amounts receivable within one year | 40/41 | €2,641 | €1,594 | -€1,046 | -39.6% |
| Trade receivables | 40 | €2,599 | €1,000 | -€1,599 | -61.5% |
| Other amounts receivable | 41 | €41 | €594 | +€553 | +1,344% |
| Current investments | 50/53 | €200,000 | €600,000 | +€400,000 | +200% |
| Cash at bank and in hand | 54/58 | €631,550 | €202,721 | -€428,829 | -67.9% |
| Deferred charges and accrued income | 490/1 | €12,429 | €11,045 | -€1,385 | -11.1% |
| Total equity and liabilities | 10/49 | €1,832,945 | €1,806,604 | -€26,341 | -1.4% |
| Equity | 10/15 | €1,699,880 | €1,697,913 | -€1,967 | -0.1% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €1,519,880 | €1,519,880 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,750 | €2,750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,750 | €2,750 | = | 0.0% |
| Distributable reserves | 133 | €1,517,130 | €1,517,130 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€1,967 | -€1,967 | |
| Provisions and deferred taxes | 16 | €40,000 | €40,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €40,000 | €40,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable | 17/49 | €93,065 | €68,691 | -€24,374 | -26.2% |
| Amounts payable after more than one year | 17 | €59,219 | €47,089 | -€12,130 | -20.5% |
| Financial debts | 170/4 | €59,219 | €47,089 | -€12,130 | -20.5% |
| Amounts payable within one year | 42/48 | €33,846 | €20,663 | -€13,184 | -39.0% |
| Current portion of amounts payable after more than one year | 42 | €16,740 | €12,130 | -€4,610 | -27.5% |
| Trade debts | 44 | €2,634 | €1,250 | -€1,383 | -52.5% |
| Suppliers | 440/4 | €2,634 | €1,250 | -€1,383 | -52.5% |
| Advances received on contracts in progress | 46 | €390 | - | -€390 | |
| Taxes, remuneration and social security | 45 | €13,042 | €246 | -€12,796 | -98.1% |
| Taxes | 450/3 | €13,042 | €246 | -€12,796 | -98.1% |
| Other amounts payable | 47/48 | €1,041 | €7,036 | +€5,995 | +576% |
| Accrued charges and deferred income | 492/3 | - | €940 | +€940 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,543 | €16,081 | -€463 | -2.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €40,000 | - | -€40,000 | |
| Other operating charges | 640/8 | €3,545 | €1,711 | -€1,834 | -51.7% |
| Gross operating margin | 9900 | -€19,757 | €4,543 | +€24,300 | |
| Operating profit (loss) | 9901 | -€79,845 | -€13,248 | +€66,597 | +83.4% |
| Financial income | 75/76B | €179,339 | €10,937 | -€168,402 | -93.9% |
| Recurring financial income | 75 | €12,672 | €10,937 | -€1,735 | -13.7% |
| Non-recurring financial income | 76B | €166,667 | - | -€166,667 | |
| Financial charges | 65/66B | €1,868 | €1,048 | -€819 | -43.9% |
| Recurring financial charges | 65 | €1,868 | €1,048 | -€819 | -43.9% |
| Profit (loss) for the period before taxes | 9903 | €97,627 | -€3,360 | -€100,986 | |
| Income taxes | 67/77 | -€62,542 | -€1,393 | +€61,149 | +97.8% |
| Profit (loss) for the period | 9904 | €160,168 | -€1,967 | -€162,135 | |
| Profit (loss) for the period to be appropriated | 9905 | €160,168 | -€1,967 | -€162,135 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.