RIVERSTAR: what changed
RIVERSTAR
Largest movements
- Receivables within one year +€19,992
up €19,992 (+46.2%), from €43,301 to €63,293
of which Trade receivables: +€17,954
- Cash +€12,143
up €12,143 (+4.4%), from €276,950 to €289,093
mainly Net result for the year (+€67,876) and Depreciation (+€2,343)
- Tangible fixed assets +€6,453
up €6,453 (+7.2%), from €90,022 to €96,475
of which Furniture and vehicles: +€8,838
- Reserves +€67,876
up €67,876 (+25.4%), from €267,226 to €335,102
- Tax, wage and social debts -€31,308
down €31,308 (-79.7%), from €39,286 to €7,978
of which Remuneration and social security: -€22,000
- Gross operating margin +€38,081
up €38,081 (+77.0%), from €49,445 to €87,526
- Depreciation -€28,657
down €28,657 (-92.4%), from €31,000 to €2,343
- Taxes +€8,826
up €8,826 (+144%), from €6,145 to €14,971
- Other operating charges -€1,828
down €1,828 (-44.7%), from €4,085 to €2,257
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €427,971 | €464,921 | +€36,950 | +8.6% |
| Fixed assets | 21/28 | €106,082 | €112,535 | +€6,453 | +6.1% |
| Tangible fixed assets | 22/27 | €90,022 | €96,475 | +€6,453 | +7.2% |
| Land and buildings | 22 | €17,271 | €12,720 | -€4,551 | -26.4% |
| Plant, machinery and equipment | 23 | €14,256 | €16,422 | +€2,166 | +15.2% |
| Furniture and vehicles | 24 | €58,495 | €67,333 | +€8,838 | +15.1% |
| Financial fixed assets | 28 | €16,060 | €16,060 | = | 0.0% |
| Current assets | 29/58 | €321,889 | €352,386 | +€30,497 | +9.5% |
| Amounts receivable within one year | 40/41 | €43,301 | €63,293 | +€19,992 | +46.2% |
| Trade receivables | 40 | €13,964 | €31,918 | +€17,954 | +129% |
| Other amounts receivable | 41 | €29,337 | €31,375 | +€2,038 | +6.9% |
| Cash at bank and in hand | 54/58 | €276,950 | €289,093 | +€12,143 | +4.4% |
| Deferred charges and accrued income | 490/1 | €1,638 | - | -€1,638 | |
| Total equity and liabilities | 10/49 | €427,971 | €464,921 | +€36,950 | +8.6% |
| Equity | 10/15 | €388,375 | €456,251 | +€67,876 | +17.5% |
| Contributions | 10/11 | €121,149 | €121,149 | = | 0.0% |
| Reserves | 13 | €267,226 | €335,102 | +€67,876 | +25.4% |
| Distributable reserves | 133 | €267,226 | €335,102 | +€67,876 | +25.4% |
| Amounts payable | 17/49 | €39,596 | €8,670 | -€30,926 | -78.1% |
| Amounts payable within one year | 42/48 | €39,596 | €8,670 | -€30,926 | -78.1% |
| Trade debts | 44 | €310 | €692 | +€382 | +123% |
| Suppliers | 440/4 | €310 | €692 | +€382 | +123% |
| Taxes, remuneration and social security | 45 | €39,286 | €7,978 | -€31,308 | -79.7% |
| Taxes | 450/3 | €17,286 | €7,978 | -€9,308 | -53.8% |
| Remuneration and social security | 454/9 | €22,000 | - | -€22,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,000 | €2,343 | -€28,657 | -92.4% |
| Other operating charges | 640/8 | €4,085 | €2,257 | -€1,828 | -44.7% |
| Gross operating margin | 9900 | €49,445 | €87,526 | +€38,081 | +77.0% |
| Operating profit (loss) | 9901 | €14,360 | €82,926 | +€68,566 | +477% |
| Financial charges | 65/66B | €66 | €79 | +€13 | +19.7% |
| Recurring financial charges | 65 | €66 | €79 | +€13 | +19.7% |
| Profit (loss) for the period before taxes | 9903 | €14,294 | €82,847 | +€68,553 | +480% |
| Income taxes | 67/77 | €6,145 | €14,971 | +€8,826 | +144% |
| Profit (loss) for the period | 9904 | €8,149 | €67,876 | +€59,727 | +733% |
| Profit (loss) for the period to be appropriated | 9905 | €8,149 | €67,876 | +€59,727 | +733% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.