DMRAIL: 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.
DMRAIL
Largest movements
- Tangible fixed assets -€125,448
down €125,448 (-28.8%), from €435,604 to €310,156
of which Plant, machinery and equipment: -€93,040
- Receivables within one year +€116,253
up €116,253 (+37.5%), from €310,108 to €426,361
of which Trade receivables: +€75,469
- Cash -€83,354
down €83,354 (-31.3%), from €266,260 to €182,907
mainly Receivables within one year (-€116,253) and Debts after one year (-€112,508)
- Deferred charges and accrued income +€18,947
up €18,947 (+169%), from €11,239 to €30,186
- Debts after one year -€112,508
down €112,508 (-35.8%), from €314,277 to €201,769
- Profit (loss) carried forward -€108,166
down €108,166 (-53.9%), from €200,820 to €92,655
- Trade debts +€66,641
up €66,641 (+157%), from €42,546 to €109,187
- Other debts +€59,034
up €59,034 (+1,252%), from €4,716 to €63,750
- Tax, wage and social debts +€28,147
up €28,147 (+122%), from €23,114 to €51,261
of which Remuneration and social security: +€14,650
- Gross operating margin -€169,849
down €169,849 (-30.3%), from €559,736 to €389,888
- Taxes -€31,871
down €31,871, from €31,573 to -€298
- Other operating charges -€16,843
down €16,843 (-74.4%), from €22,637 to €5,794
- Staff costs +€8,875
up €8,875 (+3.4%), from €257,337 to €266,212
- Depreciation -€8,190
down €8,190 (-5.6%), from €147,169 to €138,978
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 | €1,025,191 | €951,590 | -€73,602 | -7.2% |
| Fixed assets | 21/28 | €437,584 | €312,136 | -€125,448 | -28.7% |
| Tangible fixed assets | 22/27 | €435,604 | €310,156 | -€125,448 | -28.8% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €380,662 | €287,623 | -€93,040 | -24.4% |
| Furniture and vehicles | 24 | €50,564 | €19,439 | -€31,125 | -61.6% |
| Other tangible fixed assets | 26 | €4,378 | €3,094 | -€1,284 | -29.3% |
| Financial fixed assets | 28 | €1,980 | €1,980 | = | 0.0% |
| Current assets | 29/58 | €587,608 | €639,454 | +€51,847 | +8.8% |
| Amounts receivable within one year | 40/41 | €310,108 | €426,361 | +€116,253 | +37.5% |
| Trade receivables | 40 | €276,844 | €352,313 | +€75,469 | +27.3% |
| Other amounts receivable | 41 | €33,264 | €74,048 | +€40,784 | +123% |
| Cash at bank and in hand | 54/58 | €266,260 | €182,907 | -€83,354 | -31.3% |
| Deferred charges and accrued income | 490/1 | €11,239 | €30,186 | +€18,947 | +169% |
| Total equity and liabilities | 10/49 | €1,025,191 | €951,590 | -€73,602 | -7.2% |
| Equity | 10/15 | €521,280 | €413,115 | -€108,166 | -20.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €300,000 | €300,000 | = | 0.0% |
| Distributable reserves | 133 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €200,820 | €92,655 | -€108,166 | -53.9% |
| Amounts payable | 17/49 | €503,911 | €538,475 | +€34,564 | +6.9% |
| Amounts payable after more than one year | 17 | €314,277 | €201,769 | -€112,508 | -35.8% |
| Financial debts | 170/4 | €314,277 | €201,769 | -€112,508 | -35.8% |
| Amounts payable within one year | 42/48 | €187,870 | €336,706 | +€148,836 | +79.2% |
| Current portion of amounts payable after more than one year | 42 | €117,494 | €112,508 | -€4,986 | -4.2% |
| Trade debts | 44 | €42,546 | €109,187 | +€66,641 | +157% |
| Suppliers | 440/4 | €42,546 | €109,187 | +€66,641 | +157% |
| Taxes, remuneration and social security | 45 | €23,114 | €51,261 | +€28,147 | +122% |
| Taxes | 450/3 | €1,165 | €14,661 | +€13,497 | +1,159% |
| Remuneration and social security | 454/9 | €21,950 | €36,599 | +€14,650 | +66.7% |
| Other amounts payable | 47/48 | €4,716 | €63,750 | +€59,034 | +1,252% |
| Accrued charges and deferred income | 492/3 | €1,764 | €0 | -€1,764 | -100% |
| Remuneration, social security and pensions | 62 | €257,337 | €266,212 | +€8,875 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,169 | €138,978 | -€8,190 | -5.6% |
| Other operating charges | 640/8 | €22,637 | €5,794 | -€16,843 | -74.4% |
| Gross operating margin | 9900 | €559,736 | €389,888 | -€169,849 | -30.3% |
| Operating profit (loss) | 9901 | €132,593 | -€21,097 | -€153,690 | |
| Financial income | 75/76B | €1 | €1,764 | +€1,763 | +207,405% |
| Recurring financial income | 75 | €1 | €1,764 | +€1,763 | +207,405% |
| Financial charges | 65/66B | €20,936 | €14,130 | -€6,806 | -32.5% |
| Recurring financial charges | 65 | €20,936 | €14,130 | -€6,806 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €111,658 | -€33,463 | -€145,121 | |
| Income taxes | 67/77 | €31,573 | -€298 | -€31,871 | |
| Profit (loss) for the period | 9904 | €80,085 | -€33,166 | -€113,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €80,085 | -€33,166 | -€113,250 |
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.