RYCO: 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.
What changed
RYCO
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€51,124
2024 · €19,407+€31,717
Equity
€1.4m
2024 · €1.4m+€1,077
Cash
€1,346
2024 · €1,260+€87
Balance sheet total
€1.8m
2024 · €2.0m-€131,314
Largest movements
Assets
- Tangible fixed assets -€93,009
down €93,009 (-4.9%), from €1.9m to €1.8m
of which Land and buildings: -€115,241
- Receivables within one year -€37,891
down €37,891 (-88.9%), from €42,615 to €4,724
of which Trade receivables: -€42,367
Equity and liabilities
- Debts after one year -€71,841
down €71,841 (-17.7%), from €406,206 to €334,364
- Other debts -€41,558
down €41,558 (-87.5%), from €47,490 to €5,932
- Short-term financial debts -€26,627
down €26,627 (-100%), from €26,627 to €0
Income statement
- Gross operating margin +€37,082
up €37,082 (+16.3%), from €227,500 to €264,582
- Staff costs +€7,850
up €7,850 (+15.1%), from €51,985 to €59,836
- Depreciation +€6,249
up €6,249 (+5.0%), from €124,477 to €130,726
- Other operating charges -€4,749
down €4,749 (-37.6%), from €12,613 to €7,865
- Taxes +€4,641
up €4,641 (+181%), from €2,564 to €7,205
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
€19,407
Gross operating margin
+€37,082
Staff costs
-€7,850
Depreciation
-€6,249
Other operating charges
+€4,749
Other operating items
+€5,259
Financial income
-€372
Financial charges
+€3,740
Taxes
-€4,641
Result 2025
€51,124
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€185,926
Investment
-€37,716
Financing
-€148,123
Cash 2024
€1,260
From operations (derived)
+€185,926
Net result for the year
+€51,124
Depreciation
+€130,726
Receivables within one year
+€37,891
Deferred charges and accrued income
+€500
Provisions
-€1,994
Trade debts
+€3,044
Tax, wage and social debts
+€6,193
Other debts
-€41,558
Investment (derived)
-€37,716
Investment in fixed assets (net)
-€37,716
Financing
-€148,123
Debts after one year
-€71,841
Current portion of long-term debt
+€391
Short-term financial debts
-€26,627
Contributions, distributions and other
-€50,046
Cash 2025
€1,346
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,951,562 | €1,820,249 | -€131,314 | -6.7% |
| Fixed assets | 21/28 | €1,898,249 | €1,805,240 | -€93,009 | -4.9% |
| Tangible fixed assets | 22/27 | €1,898,199 | €1,805,190 | -€93,009 | -4.9% |
| Land and buildings | 22 | €1,889,426 | €1,774,185 | -€115,241 | -6.1% |
| Plant, machinery and equipment | 23 | €1,905 | €865 | -€1,040 | -54.6% |
| Furniture and vehicles | 24 | €6,868 | €30,141 | +€23,272 | +339% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €53,313 | €15,008 | -€38,304 | -71.8% |
| Amounts receivable within one year | 40/41 | €42,615 | €4,724 | -€37,891 | -88.9% |
| Trade receivables | 40 | €42,367 | €0 | -€42,367 | -100% |
| Other amounts receivable | 41 | €248 | €4,724 | +€4,476 | +1,806% |
| Cash at bank and in hand | 54/58 | €1,260 | €1,346 | +€87 | +6.9% |
| Deferred charges and accrued income | 490/1 | €9,438 | €8,938 | -€500 | -5.3% |
| Total equity and liabilities | 10/49 | €1,951,562 | €1,820,249 | -€131,314 | -6.7% |
| Equity | 10/15 | €1,352,886 | €1,353,964 | +€1,077 | +0.1% |
| Contributions | 10/11 | €48,600 | €48,600 | = | 0.0% |
| Revaluation surpluses | 12 | €377,786 | €377,786 | = | 0.0% |
| Reserves | 13 | €926,500 | €927,578 | +€1,077 | +0.1% |
| Tax-exempt reserves | 132 | €74,752 | €69,871 | -€4,881 | -6.5% |
| Distributable reserves | 133 | €851,748 | €857,707 | +€5,958 | +0.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €30,532 | €28,539 | -€1,994 | -6.5% |
| Deferred taxes | 168 | €30,532 | €28,539 | -€1,994 | -6.5% |
| Amounts payable | 17/49 | €568,143 | €437,746 | -€130,397 | -23.0% |
| Amounts payable after more than one year | 17 | €406,206 | €334,364 | -€71,841 | -17.7% |
| Financial debts | 170/4 | €406,206 | €334,364 | -€71,841 | -17.7% |
| Amounts payable within one year | 42/48 | €161,938 | €103,382 | -€58,556 | -36.2% |
| Current portion of amounts payable after more than one year | 42 | €71,450 | €71,841 | +€391 | +0.5% |
| Financial debts | 43 | €26,627 | €0 | -€26,627 | -100% |
| Credit institutions | 430/8 | €26,627 | €0 | -€26,627 | -100% |
| Trade debts | 44 | €2,488 | €5,533 | +€3,044 | +122% |
| Suppliers | 440/4 | €2,488 | €5,533 | +€3,044 | +122% |
| Taxes, remuneration and social security | 45 | €13,882 | €20,076 | +€6,193 | +44.6% |
| Taxes | 450/3 | €5,386 | €10,008 | +€4,622 | +85.8% |
| Remuneration and social security | 454/9 | €8,497 | €10,068 | +€1,571 | +18.5% |
| Other amounts payable | 47/48 | €47,490 | €5,932 | -€41,558 | -87.5% |
| Non-recurring operating income | 76A | - | €12,404 | +€12,404 | |
| Remuneration, social security and pensions | 62 | €51,985 | €59,836 | +€7,850 | +15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,477 | €130,726 | +€6,249 | +5.0% |
| Other operating charges | 640/8 | €12,613 | €7,865 | -€4,749 | -37.6% |
| Non-recurring operating charges | 66A | €5,259 | €0 | -€5,259 | -100% |
| Gross operating margin | 9900 | €227,500 | €264,582 | +€37,082 | +16.3% |
| Operating profit (loss) | 9901 | €33,166 | €66,156 | +€32,990 | +99.5% |
| Financial income | 75/76B | €380 | €8 | -€372 | -97.9% |
| Recurring financial income | 75 | €380 | €8 | -€372 | -97.9% |
| Financial charges | 65/66B | €13,569 | €9,829 | -€3,740 | -27.6% |
| Recurring financial charges | 65 | €13,569 | €9,829 | -€3,740 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €19,977 | €56,336 | +€36,358 | +182% |
| Transfer from deferred taxes | 780 | €1,994 | €1,994 | = | 0.0% |
| Income taxes | 67/77 | €2,564 | €7,205 | +€4,641 | +181% |
| Profit (loss) for the period | 9904 | €19,407 | €51,124 | +€31,717 | +163% |
| Transfer from tax-exempt reserves | 789 | €4,881 | €4,881 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,287 | €56,005 | +€31,717 | +131% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.