EURORAIL: 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.
What changed
EURORAIL
NACE 49.200, Land transport and transport via pipelines
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€334,975
2024 · -€355,901+€20,926
Equity
€2.3m
2024 · €2.7m-€334,975
Cash
€128,376
2024 · €80,410+€47,966
Balance sheet total
€5.5m
2024 · €5.3m+€201,206
Largest movements
Assets
- Receivables within one year +€885,865
up €885,865 (+49.5%), from €1.8m to €2.7m
of which Trade receivables: +€882,480
- Financial fixed assets -€733,054
down €733,054 (-22.0%), from €3.3m to €2.6m
of which Affiliated companies: -€733,054
Equity and liabilities
- Short-term financial debts +€394,949
up €394,949 (+37.3%), from €1.1m to €1.5m
- Profit (loss) carried forward -€334,975
down €334,975 (-80.5%), from -€416,359 to -€751,334
- Trade debts +€178,522
up €178,522 (+12.3%), from €1.4m to €1.6m
Income statement
- Goods and materials +€1.2m
up €1.2m (+11.4%), from €10.7m to €11.9m
- Turnover +€1.1m
up €1.1m (+10.1%), from €11.3m to €12.4m
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.
Result 2024
-€355,901
Turnover
+€1.1m
Other operating income
-€54,704
Goods and materials
-€1.2m
Services and other goods
+€94,249
Staff costs
+€48,576
Depreciation
-€375
Other operating charges
+€40,764
Financial income
-€35,337
Financial charges
+€8,777
Taxes
+€8
Result 2025
-€334,975
raises the resultlowers the result
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.
From operations
-€1.1m
Investment
+€729,053
Financing
+€394,949
Cash 2024
€80,410
From operations (derived)
-€1.1m
Net result for the year
-€334,975
Depreciation
+€1,671
Receivables within one year
-€885,865
Smaller working-capital items
+€1,079
Trade debts
+€178,522
Tax, wage and social debts
-€26,201
Advances received
-€20,590
Other debts
+€10,323
Investment (derived)
+€729,053
Investment in fixed assets (net)
+€729,084
Current investments
-€32
Financing
+€394,949
Short-term financial debts
+€394,949
Cash 2025
€128,376
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,276,753 | €5,477,959 | +€201,206 | +3.8% |
| Fixed assets | 21/28 | €3,391,900 | €2,661,145 | -€730,755 | -21.5% |
| Tangible fixed assets | 22/27 | €58,646 | €60,945 | +€2,299 | +3.9% |
| Land and buildings | 22 | €50,581 | €50,181 | -€400 | -0.8% |
| Plant, machinery and equipment | 23 | €8,066 | €7,170 | -€896 | -11.1% |
| Furniture and vehicles | 24 | - | €3,595 | +€3,595 | |
| Financial fixed assets | 28 | €3,333,254 | €2,600,200 | -€733,054 | -22.0% |
| Affiliated companies | 280/1 | €3,333,054 | €2,600,000 | -€733,054 | -22.0% |
| Amounts receivable | 281 | €3,333,054 | €2,600,000 | -€733,054 | -22.0% |
| Other financial fixed assets | 284/8 | €200 | €200 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €1,884,853 | €2,816,814 | +€931,961 | +49.4% |
| Amounts receivable within one year | 40/41 | €1,790,824 | €2,676,689 | +€885,865 | +49.5% |
| Trade receivables | 40 | €1,781,319 | €2,663,799 | +€882,480 | +49.5% |
| Other amounts receivable | 41 | €9,505 | €12,890 | +€3,384 | +35.6% |
| Current investments | 50/53 | €5,681 | €5,712 | +€32 | +0.6% |
| Other investments | 51/53 | €5,681 | €5,712 | +€32 | +0.6% |
| Cash at bank and in hand | 54/58 | €80,410 | €128,376 | +€47,966 | +59.7% |
| Deferred charges and accrued income | 490/1 | €7,938 | €6,037 | -€1,901 | -24.0% |
| Total equity and liabilities | 10/49 | €5,276,753 | €5,477,959 | +€201,206 | +3.8% |
| Equity | 10/15 | €2,683,641 | €2,348,666 | -€334,975 | -12.5% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €2,100,000 | €2,100,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000,000 | €2,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€416,359 | -€751,334 | -€334,975 | -80.5% |
| Amounts payable | 17/49 | €2,593,112 | €3,129,293 | +€536,181 | +20.7% |
| Amounts payable within one year | 42/48 | €2,592,009 | €3,129,012 | +€537,003 | +20.7% |
| Financial debts | 43 | €1,058,416 | €1,453,365 | +€394,949 | +37.3% |
| Credit institutions | 430/8 | €1,058,416 | €1,453,365 | +€394,949 | +37.3% |
| Trade debts | 44 | €1,448,107 | €1,626,629 | +€178,522 | +12.3% |
| Suppliers | 440/4 | €1,448,107 | €1,626,629 | +€178,522 | +12.3% |
| Advances received on contracts in progress | 46 | €20,590 | €0 | -€20,590 | -100% |
| Taxes, remuneration and social security | 45 | €60,390 | €34,189 | -€26,201 | -43.4% |
| Taxes | 450/3 | €11,894 | €7,908 | -€3,986 | -33.5% |
| Remuneration and social security | 454/9 | €48,496 | €26,281 | -€22,214 | -45.8% |
| Other amounts payable | 47/48 | €4,507 | €14,829 | +€10,323 | +229% |
| Accrued charges and deferred income | 492/3 | €1,103 | €281 | -€822 | -74.5% |
| Operating income | 70/76A | €12,150,733 | €13,231,381 | +€1.1m | +8.9% |
| Turnover | 70 | €11,293,218 | €12,428,570 | +€1.1m | +10.1% |
| Other operating income | 74 | €857,515 | €802,811 | -€54,704 | -6.4% |
| Operating charges | 60/66A | €12,544,117 | €13,577,286 | +€1.0m | +8.2% |
| Goods for resale, raw materials and consumables | 60 | €10,699,129 | €11,915,512 | +€1.2m | +11.4% |
| Purchases | 600/8 | €10,699,129 | €11,915,512 | +€1.2m | +11.4% |
| Services and other goods | 61 | €634,132 | €539,883 | -€94,249 | -14.9% |
| Remuneration, social security and pensions | 62 | €361,679 | €313,103 | -€48,576 | -13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,296 | €1,671 | +€375 | +28.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €0 | = | |
| Other operating charges | 640/8 | €847,881 | €807,117 | -€40,764 | -4.8% |
| Operating profit (loss) | 9901 | -€393,384 | -€345,905 | +€47,479 | +12.1% |
| Financial income | 75/76B | €132,828 | €97,490 | -€35,337 | -26.6% |
| Recurring financial income | 75 | €132,828 | €97,490 | -€35,337 | -26.6% |
| Income from current assets | 751 | €132,827 | €97,490 | -€35,337 | -26.6% |
| Other financial income | 752/9 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €94,692 | €85,915 | -€8,777 | -9.3% |
| Recurring financial charges | 65 | €94,692 | €85,915 | -€8,777 | -9.3% |
| Debt charges | 650 | €88,056 | €79,260 | -€8,795 | -10.0% |
| Other financial charges | 652/9 | €6,636 | €6,655 | +€19 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | -€355,248 | -€334,330 | +€20,918 | +5.9% |
| Income taxes | 67/77 | €653 | €645 | -€8 | -1.2% |
| Taxes | 670/3 | €653 | €645 | -€8 | -1.2% |
| Profit (loss) for the period | 9904 | -€355,901 | -€334,975 | +€20,926 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€355,901 | -€334,975 | +€20,926 | +5.9% |
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 13 October 2026 via checked.be.