We Ride: 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.
We Ride
Largest movements
- Receivables within one year -€140,437
down €140,437 (-33.3%), from €421,909 to €281,472
of which Trade receivables: -€111,235
- Cash +€135,445
up €135,445 (+11.5%), from €1.2m to €1.3m
mainly Net result for the year (+€272,652) and Receivables within one year (+€140,437)
- Deferred charges and accrued income +€69,989
up €69,989 (+736%), from €9,510 to €79,499
- Trade debts +€103,905
up €103,905 (+29.3%), from €354,282 to €458,186
- Advances received -€45,744
down €45,744 (-5.9%), from €775,919 to €730,175
- Other debts +€21,936
up €21,936 (+7.0%), from €312,500 to €334,435
- Reserves -€17,348
down €17,348 (-51.8%), from €33,501 to €16,153
of which Distributable reserves: -€17,348
- Gross operating margin -€41,625
down €41,625 (-7.8%), from €531,565 to €489,940
- Taxes -€9,896
down €9,896 (-9.4%), from €104,896 to €95,000
- Staff costs -€7,430
down €7,430 (-7.5%), from €99,022 to €91,592
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 | €1,615,292 | €1,679,703 | +€64,411 | +4.0% |
| Fixed assets | 21/28 | €6,225 | €5,639 | -€586 | -9.4% |
| Tangible fixed assets | 22/27 | €2,862 | €4,997 | +€2,135 | +74.6% |
| Plant, machinery and equipment | 23 | €2,862 | €4,997 | +€2,135 | +74.6% |
| Financial fixed assets | 28 | €3,363 | €642 | -€2,721 | -80.9% |
| Current assets | 29/58 | €1,609,068 | €1,674,064 | +€64,997 | +4.0% |
| Amounts receivable within one year | 40/41 | €421,909 | €281,472 | -€140,437 | -33.3% |
| Trade receivables | 40 | €362,316 | €251,080 | -€111,235 | -30.7% |
| Other amounts receivable | 41 | €59,593 | €30,391 | -€29,201 | -49.0% |
| Cash at bank and in hand | 54/58 | €1,177,649 | €1,313,094 | +€135,445 | +11.5% |
| Deferred charges and accrued income | 490/1 | €9,510 | €79,499 | +€69,989 | +736% |
| Total equity and liabilities | 10/49 | €1,615,292 | €1,679,703 | +€64,411 | +4.0% |
| Equity | 10/15 | €133,501 | €116,153 | -€17,348 | -13.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €33,501 | €16,153 | -€17,348 | -51.8% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €23,501 | €6,153 | -€17,348 | -73.8% |
| Amounts payable | 17/49 | €1,481,791 | €1,563,550 | +€81,759 | +5.5% |
| Amounts payable within one year | 42/48 | €1,468,791 | €1,563,550 | +€94,759 | +6.5% |
| Trade debts | 44 | €354,282 | €458,186 | +€103,905 | +29.3% |
| Suppliers | 440/4 | €354,282 | €458,186 | +€103,905 | +29.3% |
| Advances received on contracts in progress | 46 | €775,919 | €730,175 | -€45,744 | -5.9% |
| Taxes, remuneration and social security | 45 | €26,090 | €40,753 | +€14,663 | +56.2% |
| Taxes | 450/3 | €20,421 | €35,493 | +€15,072 | +73.8% |
| Remuneration and social security | 454/9 | €5,669 | €5,260 | -€410 | -7.2% |
| Other amounts payable | 47/48 | €312,500 | €334,435 | +€21,936 | +7.0% |
| Accrued charges and deferred income | 492/3 | €13,000 | - | -€13,000 | |
| Remuneration, social security and pensions | 62 | €99,022 | €91,592 | -€7,430 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,270 | €2,863 | +€1,593 | +125% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,000 | +€5,000 | |
| Other operating charges | 640/8 | €1,108 | €1,143 | +€35 | +3.1% |
| Gross operating margin | 9900 | €531,565 | €489,940 | -€41,625 | -7.8% |
| Operating profit (loss) | 9901 | €430,165 | €389,343 | -€40,822 | -9.5% |
| Financial charges | 65/66B | €22,706 | €21,691 | -€1,014 | -4.5% |
| Recurring financial charges | 65 | €22,706 | €21,691 | -€1,014 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €407,460 | €367,652 | -€39,808 | -9.8% |
| Income taxes | 67/77 | €104,896 | €95,000 | -€9,896 | -9.4% |
| Profit (loss) for the period | 9904 | €302,564 | €272,652 | -€29,912 | -9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €302,564 | €272,652 | -€29,912 | -9.9% |
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 23 October 2026 via checked.be.