RYCKAERT ROBERT: 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.
What changed
RYCKAERT ROBERT
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€18,217
2024 · -€67,145+€48,927
Equity
€1.8m
2024 · €1.8m-€18,217
Cash
€148,713
2024 · €49,043+€99,671
Balance sheet total
€2.8m
2024 · €2.9m-€31,611
Largest movements
Assets
- Tangible fixed assets -€136,345
down €136,345 (-5.5%), from €2.5m to €2.3m
of which Land and buildings: -€136,768
- Cash +€99,671
up €99,671 (+203.2%), from €49,043 to €148,713
mainly Depreciation (+€101,132) and Investment in fixed assets (net) (+€35,213)
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Gross operating margin +€48,967
up €48,967 (+53.5%), from €91,577 to €140,544
- Write-downs -€2,423
down €2,423 (-27.2%), from €8,897 to €6,475
- Other operating charges +€1,830
up €1,830 (+8.0%), from €22,803 to €24,633
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.
Result 2024
-€67,145
Gross operating margin
+€48,967
Depreciation
-€277
Write-downs
+€2,423
Other operating charges
-€1,830
Financial income
-€35
Financial charges
-€321
Result 2025
-€18,217
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.
From operations
+€68,551
Investment
+€35,213
Financing
-€4,094
Cash 2024
€49,043
From operations (derived)
+€68,551
Net result for the year
-€18,217
Depreciation
+€101,132
Stocks and contracts
-€12,513
Receivables within one year
-€3,241
Deferred charges and accrued income
+€10,690
Provisions
-€9,405
Trade debts
+€22
Tax, wage and social debts
-€754
Advances received
+€837
Investment (derived)
+€35,213
Investment in fixed assets (net)
+€35,213
Financing
-€4,094
Debts after one year
-€4,094
Cash 2025
€148,713
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,855,825 | €2,824,214 | -€31,611 | -1.1% |
| Fixed assets | 21/28 | €2,469,657 | €2,333,312 | -€136,345 | -5.5% |
| Tangible fixed assets | 22/27 | €2,469,617 | €2,333,272 | -€136,345 | -5.5% |
| Land and buildings | 22 | €2,468,375 | €2,331,607 | -€136,768 | -5.5% |
| Furniture and vehicles | 24 | €1,243 | €1,665 | +€423 | +34.0% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €386,167 | €490,902 | +€104,734 | +27.1% |
| Stocks and contracts in progress | 3 | €308,847 | €321,360 | +€12,513 | +4.1% |
| Stocks | 30/36 | €308,847 | €321,360 | +€12,513 | +4.1% |
| Amounts receivable within one year | 40/41 | €14,811 | €18,052 | +€3,241 | +21.9% |
| Trade receivables | 40 | €13,980 | €17,221 | +€3,241 | +23.2% |
| Other amounts receivable | 41 | €831 | €831 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €49,043 | €148,713 | +€99,671 | +203.2% |
| Deferred charges and accrued income | 490/1 | €13,466 | €2,776 | -€10,690 | -79.4% |
| Total equity and liabilities | 10/49 | €2,855,825 | €2,824,214 | -€31,611 | -1.1% |
| Equity | 10/15 | €1,827,929 | €1,809,712 | -€18,217 | -1.0% |
| Contributions | 10/11 | €1,593,592 | €1,593,592 | = | 0.0% |
| Reserves | 13 | €359,667 | €331,451 | -€28,216 | -7.8% |
| Tax-exempt reserves | 132 | €359,667 | €331,451 | -€28,216 | -7.8% |
| Profit (loss) carried forward | 14 | -€125,330 | -€115,331 | +€9,999 | +8.0% |
| Provisions and deferred taxes | 16 | €119,889 | €110,484 | -€9,405 | -7.8% |
| Deferred taxes | 168 | €119,889 | €110,484 | -€9,405 | -7.8% |
| Amounts payable | 17/49 | €908,006 | €904,018 | -€3,988 | -0.4% |
| Amounts payable after more than one year | 17 | €893,438 | €889,344 | -€4,094 | -0.5% |
| Financial debts | 170/4 | €893,438 | €889,344 | -€4,094 | -0.5% |
| Amounts payable within one year | 42/48 | €14,569 | €14,674 | +€106 | +0.7% |
| Trade debts | 44 | €43 | €65 | +€22 | +51.0% |
| Suppliers | 440/4 | €43 | €65 | +€22 | +51.0% |
| Advances received on contracts in progress | 46 | - | €837 | +€837 | |
| Taxes, remuneration and social security | 45 | €12,056 | €11,302 | -€754 | -6.3% |
| Taxes | 450/3 | €12,056 | €11,302 | -€754 | -6.3% |
| Other amounts payable | 47/48 | €2,470 | €2,470 | = | 0.0% |
| Non-recurring operating income | 76A | - | €33,699 | +€33,699 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,855 | €101,132 | +€277 | +0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,897 | €6,475 | -€2,423 | -27.2% |
| Other operating charges | 640/8 | €22,803 | €24,633 | +€1,830 | +8.0% |
| Gross operating margin | 9900 | €91,577 | €140,544 | +€48,967 | +53.5% |
| Operating profit (loss) | 9901 | -€40,979 | €8,304 | +€49,283 | |
| Financial income | 75/76B | €35 | €0 | -€35 | -99.2% |
| Recurring financial income | 75 | €35 | €0 | -€35 | -99.2% |
| Financial charges | 65/66B | €35,606 | €35,927 | +€321 | +0.9% |
| Recurring financial charges | 65 | €35,606 | €35,927 | +€321 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | -€76,550 | -€27,623 | +€48,927 | +63.9% |
| Transfer from deferred taxes | 780 | €9,405 | €9,405 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€67,145 | -€18,217 | +€48,927 | +72.9% |
| Transfer from tax-exempt reserves | 789 | €28,216 | €28,216 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,928 | €9,999 | +€48,927 |
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 2 October 2026 via checked.be.