VAN RUYTEGHEM: 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.
VAN RUYTEGHEM
Largest movements
- Cash +€300,828
up €300,828 (+115%), from €261,719 to €562,547
mainly Receivables within one year (+€228,751) and Net result for the year (+€68,501)
- Receivables within one year -€228,751
down €228,751 (-77.3%), from €295,837 to €67,085
of which Trade receivables: -€237,754
- Tangible fixed assets -€90,484
down €90,484 (-11.8%), from €763,741 to €673,257
of which Plant, machinery and equipment: -€45,799
- Intangible fixed assets -€43,243
down €43,243 (-100%), from €43,243 to €0
- Deferred charges and accrued income -€14,043
down €14,043 (-80.6%), from €17,417 to €3,374
- Debts after one year -€73,808
down €73,808 (-22.0%), from €335,254 to €261,446
- Reserves +€68,501
up €68,501 (+9.4%), from €726,567 to €795,068
- Trade debts -€36,457
down €36,457 (-82.2%), from €44,345 to €7,888
- Tax, wage and social debts -€16,512
down €16,512 (-79.4%), from €20,788 to €4,277
of which Remuneration and social security: -€10,676
- Current portion of long-term debt -€14,060
down €14,060 (-16.0%), from €87,867 to €73,808
- Write-downs -€130,892
down €130,892 (-59.6%), from €219,483 to €88,590
- Gross operating margin -€107,537
down €107,537 (-21.2%), from €506,740 to €399,203
- Depreciation -€70,049
down €70,049 (-50.9%), from €137,585 to €67,536
- Taxes +€18,837
up €18,837 (+471%), from €3,997 to €22,834
- Staff costs -€8,749
down €8,749 (-9.5%), from €92,432 to €83,683
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 | €1,382,926 | €1,306,578 | -€76,348 | -5.5% |
| Fixed assets | 21/28 | €807,299 | €673,572 | -€133,727 | -16.6% |
| Intangible fixed assets | 21 | €43,243 | €0 | -€43,243 | -100% |
| Tangible fixed assets | 22/27 | €763,741 | €673,257 | -€90,484 | -11.8% |
| Land and buildings | 22 | €576,922 | €535,754 | -€41,168 | -7.1% |
| Plant, machinery and equipment | 23 | €89,159 | €43,360 | -€45,799 | -51.4% |
| Furniture and vehicles | 24 | €97,660 | €94,143 | -€3,517 | -3.6% |
| Financial fixed assets | 28 | €315 | €315 | = | 0.0% |
| Current assets | 29/58 | €575,627 | €633,006 | +€57,379 | +10.0% |
| Stocks and contracts in progress | 3 | €653 | €0 | -€653 | -100% |
| Stocks | 30/36 | €653 | €0 | -€653 | -100% |
| Amounts receivable within one year | 40/41 | €295,837 | €67,085 | -€228,751 | -77.3% |
| Trade receivables | 40 | €264,051 | €26,297 | -€237,754 | -90.0% |
| Other amounts receivable | 41 | €31,786 | €40,788 | +€9,002 | +28.3% |
| Cash at bank and in hand | 54/58 | €261,719 | €562,547 | +€300,828 | +115% |
| Deferred charges and accrued income | 490/1 | €17,417 | €3,374 | -€14,043 | -80.6% |
| Total equity and liabilities | 10/49 | €1,382,926 | €1,306,578 | -€76,348 | -5.5% |
| Equity | 10/15 | €875,567 | €944,068 | +€68,501 | +7.8% |
| Contributions | 10/11 | €149,000 | €149,000 | = | 0.0% |
| Reserves | 13 | €726,567 | €795,068 | +€68,501 | +9.4% |
| Distributable reserves | 133 | €726,567 | €795,068 | +€68,501 | +9.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €507,359 | €362,510 | -€144,849 | -28.5% |
| Amounts payable after more than one year | 17 | €335,254 | €261,446 | -€73,808 | -22.0% |
| Financial debts | 170/4 | €335,254 | €261,446 | -€73,808 | -22.0% |
| Amounts payable within one year | 42/48 | €165,562 | €98,392 | -€67,170 | -40.6% |
| Current portion of amounts payable after more than one year | 42 | €87,867 | €73,808 | -€14,060 | -16.0% |
| Trade debts | 44 | €44,345 | €7,888 | -€36,457 | -82.2% |
| Suppliers | 440/4 | €44,345 | €7,888 | -€36,457 | -82.2% |
| Taxes, remuneration and social security | 45 | €20,788 | €4,277 | -€16,512 | -79.4% |
| Taxes | 450/3 | €8,912 | €3,077 | -€5,836 | -65.5% |
| Remuneration and social security | 454/9 | €11,876 | €1,200 | -€10,676 | -89.9% |
| Other amounts payable | 47/48 | €12,562 | €12,420 | -€142 | -1.1% |
| Accrued charges and deferred income | 492/3 | €6,543 | €2,672 | -€3,871 | -59.2% |
| Non-recurring operating income | 76A | - | €129,376 | +€129,376 | |
| Remuneration, social security and pensions | 62 | €92,432 | €83,683 | -€8,749 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,585 | €67,536 | -€70,049 | -50.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €219,483 | €88,590 | -€130,892 | -59.6% |
| Other operating charges | 640/8 | €17,179 | €14,155 | -€3,024 | -17.6% |
| Non-recurring operating charges | 66A | - | €46,406 | +€46,406 | |
| Gross operating margin | 9900 | €506,740 | €399,203 | -€107,537 | -21.2% |
| Operating profit (loss) | 9901 | €40,061 | €98,832 | +€58,771 | +147% |
| Financial income | 75/76B | €4 | €2,946 | +€2,942 | +84,071% |
| Recurring financial income | 75 | €4 | €2,946 | +€2,942 | +84,071% |
| Financial charges | 65/66B | €12,605 | €10,443 | -€2,163 | -17.2% |
| Recurring financial charges | 65 | €12,605 | €10,443 | -€2,163 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €27,459 | €91,335 | +€63,876 | +233% |
| Income taxes | 67/77 | €3,997 | €22,834 | +€18,837 | +471% |
| Profit (loss) for the period | 9904 | €23,462 | €68,501 | +€45,039 | +192% |
| Profit (loss) for the period to be appropriated | 9905 | €23,462 | €68,501 | +€45,039 | +192% |
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 25 October 2026 via checked.be.