SECOND RING COORPORATION: 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.
SECOND RING COORPORATION
Largest movements
- Receivables within one year -€44,928
down €44,928 (-41.7%), from €107,690 to €62,762
of which Other amounts receivable: -€44,928
- Cash +€30,974
up €30,974 (+655%), from €4,728 to €35,702
mainly Receivables within one year (+€44,928) and Trade debts (+€2,071)
- Profit (loss) carried forward -€16,025
down €16,025 (-6.5%), from €248,265 to €232,240
- Taxes +€11,148
new in 2025: €11,148
- Depreciation -€8,744
no longer reported in 2025 (was €8,744)
- Gross operating margin +€5,771
up €5,771 (+62.3%), from -€9,269 to -€3,497
- Other operating charges +€981
up €981 (+383%), from €256 to €1,237
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 | €287,418 | €273,464 | -€13,954 | -4.9% |
| Fixed assets | 21/28 | €175,000 | €175,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €175,000 | €175,000 | = | 0.0% |
| Land and buildings | 22 | €175,000 | €175,000 | = | 0.0% |
| Current assets | 29/58 | €112,418 | €98,464 | -€13,954 | -12.4% |
| Amounts receivable within one year | 40/41 | €107,690 | €62,762 | -€44,928 | -41.7% |
| Trade receivables | 40 | €6,063 | €6,063 | = | 0.0% |
| Other amounts receivable | 41 | €101,627 | €56,699 | -€44,928 | -44.2% |
| Cash at bank and in hand | 54/58 | €4,728 | €35,702 | +€30,974 | +655% |
| Total equity and liabilities | 10/49 | €287,418 | €273,464 | -€13,954 | -4.9% |
| Equity | 10/15 | €285,805 | €269,780 | -€16,025 | -5.6% |
| Contributions | 10/11 | €29,747 | €29,747 | = | 0.0% |
| Reserves | 13 | €7,793 | €7,793 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,975 | €2,975 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,975 | €2,975 | = | 0.0% |
| Distributable reserves | 133 | €4,818 | €4,818 | = | 0.0% |
| Profit (loss) carried forward | 14 | €248,265 | €232,240 | -€16,025 | -6.5% |
| Amounts payable | 17/49 | €1,612 | €3,684 | +€2,071 | +128% |
| Amounts payable within one year | 42/48 | €1,612 | €3,684 | +€2,071 | +128% |
| Trade debts | 44 | €1,612 | €3,684 | +€2,071 | +128% |
| Suppliers | 440/4 | €1,612 | €3,684 | +€2,071 | +128% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,744 | - | -€8,744 | |
| Other operating charges | 640/8 | €256 | €1,237 | +€981 | +383% |
| Gross operating margin | 9900 | -€9,269 | -€3,497 | +€5,771 | +62.3% |
| Operating profit (loss) | 9901 | -€18,269 | -€4,734 | +€13,535 | +74.1% |
| Financial charges | 65/66B | €121 | €143 | +€22 | +18.3% |
| Recurring financial charges | 65 | €121 | €143 | +€22 | +18.3% |
| Profit (loss) for the period before taxes | 9903 | -€18,390 | -€4,877 | +€13,513 | +73.5% |
| Income taxes | 67/77 | - | €11,148 | +€11,148 | |
| Profit (loss) for the period | 9904 | -€18,390 | -€16,025 | +€2,365 | +12.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,390 | -€16,025 | +€2,365 | +12.9% |
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 22 October 2026 via checked.be.