RYAD IMMO: 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.
RYAD IMMO
Largest movements
- Receivables within one year +€678,200
up €678,200 (+520%), from €130,528 to €808,728
of which Trade receivables: +€678,200
- Tangible fixed assets -€188,233
down €188,233 (-46.6%), from €403,908 to €215,675
- Formation expenses -€28,046
down €28,046 (-45.9%), from €61,119 to €33,072
- Cash -€13,505
down €13,505 (-99.8%), from €13,528 to €23
- Reserves +€256,910
up €256,910 (+58,325%), from €440 to €257,350
of which Tax-exempt reserves: +€256,910
- Other debts +€175,090
up €175,090 (+110%), from €159,202 to €334,292
- Provisions +€85,637
new in 2025: €85,637
- Profit (loss) carried forward -€65,539
down €65,539 (-163%), from -€40,137 to -€105,676
- Debts after one year -€46,505
down €46,505 (-11.2%), from €415,412 to €368,907
of which Financial debts: -€46,505
- Gross operating margin -€192,070
down €192,070, from €175,570 to -€16,500
- Taxes -€14,500
no longer reported in 2025 (was €14,500)
- Depreciation -€8,387
down €8,387 (-41.3%), from €20,299 to €11,913
- Financial charges -€2,836
down €2,836 (-98.4%), from €2,881 to €45
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €625,080 | €1,073,127 | +€448,047 | +71.7% |
| Formation expenses | 20 | €61,119 | €33,072 | -€28,046 | -45.9% |
| Fixed assets | 21/28 | €405,333 | €217,100 | -€188,233 | -46.4% |
| Tangible fixed assets | 22/27 | €403,908 | €215,675 | -€188,233 | -46.6% |
| Land and buildings | 22 | €403,908 | €215,675 | -€188,233 | -46.6% |
| Financial fixed assets | 28 | €1,425 | €1,425 | = | 0.0% |
| Current assets | 29/58 | €158,628 | €822,955 | +€664,326 | +419% |
| Amounts receivable within one year | 40/41 | €130,528 | €808,728 | +€678,200 | +520% |
| Trade receivables | 40 | - | €678,200 | +€678,200 | |
| Other amounts receivable | 41 | €130,528 | €130,528 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,528 | €23 | -€13,505 | -99.8% |
| Deferred charges and accrued income | 490/1 | €14,573 | €14,204 | -€369 | -2.5% |
| Total equity and liabilities | 10/49 | €625,080 | €1,073,127 | +€448,047 | +71.7% |
| Equity | 10/15 | €22,803 | €214,174 | +€191,371 | +839% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €440 | €257,350 | +€256,910 | +58,325% |
| Non-distributable reserves | 130/1 | €440 | €440 | = | 0.0% |
| Legal reserve | 130 | €440 | €440 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €256,910 | +€256,910 | |
| Profit (loss) carried forward | 14 | -€40,137 | -€105,676 | -€65,539 | -163% |
| Provisions and deferred taxes | 16 | - | €85,637 | +€85,637 | |
| Deferred taxes | 168 | - | €85,637 | +€85,637 | |
| Amounts payable | 17/49 | €602,277 | €773,316 | +€171,040 | +28.4% |
| Amounts payable after more than one year | 17 | €415,412 | €368,907 | -€46,505 | -11.2% |
| Financial debts | 170/4 | €409,572 | €363,067 | -€46,505 | -11.4% |
| Other amounts payable | 178/9 | €5,840 | €5,840 | = | 0.0% |
| Amounts payable within one year | 42/48 | €186,744 | €404,409 | +€217,665 | +117% |
| Current portion of amounts payable after more than one year | 42 | €23,252 | €23,252 | = | 0.0% |
| Trade debts | 44 | €4,290 | €46,865 | +€42,575 | +992% |
| Suppliers | 440/4 | €4,290 | €46,865 | +€42,575 | +992% |
| Other amounts payable | 47/48 | €159,202 | €334,292 | +€175,090 | +110% |
| Accrued charges and deferred income | 492/3 | €121 | - | -€121 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,299 | €11,913 | -€8,387 | -41.3% |
| Other operating charges | 640/8 | €5,293 | €4,606 | -€687 | -13.0% |
| Gross operating margin | 9900 | €175,570 | -€16,500 | -€192,070 | |
| Operating profit (loss) | 9901 | €149,978 | -€33,018 | -€182,996 | |
| Financial income | 75/76B | €1 | €1 | -€0 | -5.9% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -5.9% |
| Financial charges | 65/66B | €2,881 | €45 | -€2,836 | -98.4% |
| Recurring financial charges | 65 | €2,881 | €45 | -€2,836 | -98.4% |
| Profit (loss) for the period before taxes | 9903 | €147,097 | -€33,063 | -€180,160 | |
| Income taxes | 67/77 | €14,500 | - | -€14,500 | |
| Profit (loss) for the period | 9904 | €132,597 | -€33,063 | -€165,660 | |
| Profit (loss) for the period to be appropriated | 9905 | €132,597 | -€33,063 | -€165,660 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.