RYAX: 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.
RYAX
Largest movements
- Receivables within one year +€296,291
up €296,291 (+5,948%), from €4,981 to €301,272
of which Trade receivables: +€297,650
- Cash -€39,928
down €39,928 (-51.8%), from €77,075 to €37,146
mainly Receivables within one year (-€296,291) and Contributions, distributions and other (-€50,000)
- Trade debts +€199,445
up €199,445 (+611%), from €32,641 to €232,086
- Profit (loss) carried forward +€34,865
up €34,865 (+161%), from €21,635 to €56,500
- Tax, wage and social debts +€19,648
up €19,648 (+1,064%), from €1,847 to €21,496
- Other debts +€12,605
up €12,605 (+59.7%), from €21,119 to €33,724
- Current portion of long-term debt -€6,397
down €6,397 (-71.9%), from €8,897 to €2,500
- Gross operating margin +€39,445
up €39,445 (+45.4%), from €86,957 to €126,402
- Taxes +€22,756
up €22,756 (+202%), from €11,240 to €33,996
- Financial charges -€19,886
down €19,886 (-95.1%), from €20,903 to €1,017
- Financial income -€7,976
down €7,976 (-96.2%), from €8,294 to €318
- Write-downs -€2,936
no longer reported in 2025 (was €2,936)
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 | €104,740 | €364,907 | +€260,167 | +248% |
| Fixed assets | 21/28 | €20,824 | €24,303 | +€3,479 | +16.7% |
| Tangible fixed assets | 22/27 | €20,824 | €24,303 | +€3,479 | +16.7% |
| Plant, machinery and equipment | 23 | - | €563 | +€563 | |
| Furniture and vehicles | 24 | €20,824 | €23,740 | +€2,916 | +14.0% |
| Current assets | 29/58 | €83,916 | €340,604 | +€256,688 | +306% |
| Amounts receivable within one year | 40/41 | €4,981 | €301,272 | +€296,291 | +5,948% |
| Trade receivables | 40 | - | €297,650 | +€297,650 | |
| Other amounts receivable | 41 | €4,981 | €3,622 | -€1,359 | -27.3% |
| Cash at bank and in hand | 54/58 | €77,075 | €37,146 | -€39,928 | -51.8% |
| Deferred charges and accrued income | 490/1 | €1,860 | €2,186 | +€326 | +17.5% |
| Total equity and liabilities | 10/49 | €104,740 | €364,907 | +€260,167 | +248% |
| Equity | 10/15 | €40,235 | €75,100 | +€34,865 | +86.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,635 | €56,500 | +€34,865 | +161% |
| Amounts payable | 17/49 | €64,504 | €289,806 | +€225,302 | +349% |
| Amounts payable within one year | 42/48 | €64,504 | €289,806 | +€225,302 | +349% |
| Current portion of amounts payable after more than one year | 42 | €8,897 | €2,500 | -€6,397 | -71.9% |
| Trade debts | 44 | €32,641 | €232,086 | +€199,445 | +611% |
| Suppliers | 440/4 | €32,641 | €232,086 | +€199,445 | +611% |
| Taxes, remuneration and social security | 45 | €1,847 | €21,496 | +€19,648 | +1,064% |
| Taxes | 450/3 | €1,847 | €21,496 | +€19,648 | +1,064% |
| Other amounts payable | 47/48 | €21,119 | €33,724 | +€12,605 | +59.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,301 | €6,272 | +€1,971 | +45.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,936 | - | -€2,936 | |
| Other operating charges | 640/8 | €1,929 | €571 | -€1,359 | -70.4% |
| Gross operating margin | 9900 | €86,957 | €126,402 | +€39,445 | +45.4% |
| Operating profit (loss) | 9901 | €77,790 | €119,560 | +€41,769 | +53.7% |
| Financial income | 75/76B | €8,294 | €318 | -€7,976 | -96.2% |
| Recurring financial income | 75 | €8,294 | €318 | -€7,976 | -96.2% |
| Financial charges | 65/66B | €20,903 | €1,017 | -€19,886 | -95.1% |
| Recurring financial charges | 65 | €20,903 | €1,017 | -€19,886 | -95.1% |
| Profit (loss) for the period before taxes | 9903 | €65,182 | €118,861 | +€53,679 | +82.4% |
| Income taxes | 67/77 | €11,240 | €33,996 | +€22,756 | +202% |
| Profit (loss) for the period | 9904 | €53,942 | €84,865 | +€30,924 | +57.3% |
| Profit (loss) for the period to be appropriated | 9905 | €53,942 | €84,865 | +€30,924 | +57.3% |
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.