RONEL: 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.
RONEL
Largest movements
- Cash +€45,026
up €45,026 (+15.3%), from €294,777 to €339,804
mainly Net result for the year (+€92,173) and Accrued charges and deferred income (+€30,000)
- Tangible fixed assets -€14,022
down €14,022 (-2.5%), from €556,474 to €542,453
of which Plant, machinery and equipment: -€13,378
- Reserves +€50,000
up €50,000 (+32.9%), from €151,860 to €201,860
of which Tax-exempt reserves: +€50,000
- Profit (loss) carried forward +€42,173
up €42,173 (+18.9%), from €223,429 to €265,602
- Other debts -€38,990
down €38,990 (-72.4%), from €53,878 to €14,889
- Accrued charges and deferred income +€30,000
up €30,000 (+50.0%), from €60,000 to €90,000
- Debts after one year -€24,621
down €24,621 (-7.8%), from €314,151 to €289,530
- Gross operating margin -€28,048
down €28,048 (-20.0%), from €140,252 to €112,204
- Taxes -€8,026
down €8,026 (-25.0%), from €32,125 to €24,099
- Depreciation +€3,321
up €3,321 (+31.0%), from €10,701 to €14,022
- Financial income -€2,926
down €2,926 (-8.5%), from €34,605 to €31,679
- Financial charges -€2,074
down €2,074 (-13.5%), from €15,355 to €13,281
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 | €890,328 | €921,342 | +€31,014 | +3.5% |
| Fixed assets | 21/28 | €564,039 | €550,017 | -€14,022 | -2.5% |
| Tangible fixed assets | 22/27 | €556,474 | €542,453 | -€14,022 | -2.5% |
| Land and buildings | 22 | €520,000 | €520,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €32,610 | €19,233 | -€13,378 | -41.0% |
| Furniture and vehicles | 24 | €3,864 | €3,220 | -€644 | -16.7% |
| Financial fixed assets | 28 | €7,565 | €7,565 | = | 0.0% |
| Current assets | 29/58 | €326,289 | €371,325 | +€45,036 | +13.8% |
| Amounts receivable within one year | 40/41 | €16,021 | €16,030 | +€9 | +0.1% |
| Trade receivables | 40 | €16,021 | €16,030 | +€9 | +0.1% |
| Current investments | 50/53 | €15,491 | €15,491 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €294,777 | €339,804 | +€45,026 | +15.3% |
| Total equity and liabilities | 10/49 | €890,328 | €921,342 | +€31,014 | +3.5% |
| Equity | 10/15 | €393,889 | €486,062 | +€92,173 | +23.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €151,860 | €201,860 | +€50,000 | +32.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €150,000 | €200,000 | +€50,000 | +33.3% |
| Profit (loss) carried forward | 14 | €223,429 | €265,602 | +€42,173 | +18.9% |
| Amounts payable | 17/49 | €496,439 | €435,280 | -€61,159 | -12.3% |
| Amounts payable after more than one year | 17 | €314,151 | €289,530 | -€24,621 | -7.8% |
| Financial debts | 170/4 | €314,151 | €289,530 | -€24,621 | -7.8% |
| Amounts payable within one year | 42/48 | €122,288 | €55,750 | -€66,538 | -54.4% |
| Current portion of amounts payable after more than one year | 42 | €42,831 | €24,755 | -€18,076 | -42.2% |
| Trade debts | 44 | €5,527 | €4,081 | -€1,446 | -26.2% |
| Suppliers | 440/4 | €5,527 | €4,081 | -€1,446 | -26.2% |
| Taxes, remuneration and social security | 45 | €20,051 | €12,025 | -€8,026 | -40.0% |
| Taxes | 450/3 | €20,051 | €12,025 | -€8,026 | -40.0% |
| Other amounts payable | 47/48 | €53,878 | €14,889 | -€38,990 | -72.4% |
| Accrued charges and deferred income | 492/3 | €60,000 | €90,000 | +€30,000 | +50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,701 | €14,022 | +€3,321 | +31.0% |
| Other operating charges | 640/8 | - | €308 | +€308 | |
| Gross operating margin | 9900 | €140,252 | €112,204 | -€28,048 | -20.0% |
| Operating profit (loss) | 9901 | €129,551 | €97,874 | -€31,677 | -24.5% |
| Financial income | 75/76B | €34,605 | €31,679 | -€2,926 | -8.5% |
| Recurring financial income | 75 | €34,605 | €31,679 | -€2,926 | -8.5% |
| Financial charges | 65/66B | €15,355 | €13,281 | -€2,074 | -13.5% |
| Recurring financial charges | 65 | €15,355 | €13,281 | -€2,074 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €148,802 | €116,272 | -€32,530 | -21.9% |
| Income taxes | 67/77 | €32,125 | €24,099 | -€8,026 | -25.0% |
| Profit (loss) for the period | 9904 | €116,677 | €92,173 | -€24,504 | -21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €116,677 | €92,173 | -€24,504 | -21.0% |
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 29 October 2026 via checked.be.