RAIL LAB: 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.
RAIL LAB
Largest movements
- Tangible fixed assets -€42,939
down €42,939 (-10.2%), from €421,399 to €378,461
of which Land and buildings: -€34,901
- Receivables within one year -€29,054
down €29,054 (-42.0%), from €69,179 to €40,125
of which Trade receivables: -€29,054
- Intangible fixed assets -€14,337
down €14,337 (-14.3%), from €100,356 to €86,020
- Cash +€7,943
up €7,943 (+13.2%), from €60,128 to €68,072
mainly Other debts (+€135,725) and Depreciation (+€60,039)
- Other debts +€135,725
up €135,725 (+1104.2%), from €12,291 to €148,017
- Reserves -€121,010
down €121,010 (-34.3%), from €353,299 to €232,289
- Contributions -€53,407
no longer reported in 2025 (was €53,407)
- Debts after one year -€26,843
down €26,843 (-20.7%), from €129,952 to €103,109
- Advances received -€19,973
down €19,973 (-75.5%), from €26,450 to €6,478
- Gross operating margin +€14,297
up €14,297 (+11.9%), from €120,466 to €134,763
- Taxes -€10,820
down €10,820 (-49.3%), from €21,932 to €11,111
- Staff costs +€2,570
up €2,570 (+6.2%), from €41,532 to €44,102
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.
Cash bridge derived
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 | €651,895 | €572,677 | -€79,218 | -12.2% |
| Fixed assets | 21/28 | €521,756 | €464,480 | -€57,275 | -11.0% |
| Intangible fixed assets | 21 | €100,356 | €86,020 | -€14,337 | -14.3% |
| Tangible fixed assets | 22/27 | €421,399 | €378,461 | -€42,939 | -10.2% |
| Land and buildings | 22 | €406,517 | €371,616 | -€34,901 | -8.6% |
| Plant, machinery and equipment | 23 | €3,525 | €2,642 | -€883 | -25.1% |
| Furniture and vehicles | 24 | €11,357 | €4,203 | -€7,154 | -63.0% |
| Current assets | 29/58 | €130,139 | €108,196 | -€21,943 | -16.9% |
| Amounts receivable within one year | 40/41 | €69,179 | €40,125 | -€29,054 | -42.0% |
| Trade receivables | 40 | €44,179 | €15,125 | -€29,054 | -65.8% |
| Other amounts receivable | 41 | €25,000 | €25,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €60,128 | €68,072 | +€7,943 | +13.2% |
| Deferred charges and accrued income | 490/1 | €832 | - | -€832 | |
| Total equity and liabilities | 10/49 | €651,895 | €572,677 | -€79,218 | -12.2% |
| Equity | 10/15 | €418,993 | €244,577 | -€174,417 | -41.6% |
| Contributions | 10/11 | €53,407 | - | -€53,407 | |
| Reserves | 13 | €353,299 | €232,289 | -€121,010 | -34.3% |
| Distributable reserves | 133 | €353,299 | €232,289 | -€121,010 | -34.3% |
| Profit (loss) carried forward | 14 | €12,288 | €12,288 | = | 0.0% |
| Amounts payable | 17/49 | €232,901 | €328,100 | +€95,199 | +40.9% |
| Amounts payable after more than one year | 17 | €129,952 | €103,109 | -€26,843 | -20.7% |
| Financial debts | 170/4 | €129,952 | €103,109 | -€26,843 | -20.7% |
| Amounts payable within one year | 42/48 | €102,949 | €224,991 | +€122,042 | +118.5% |
| Current portion of amounts payable after more than one year | 42 | €27,321 | €28,144 | +€823 | +3.0% |
| Trade debts | 44 | €6,582 | €4,960 | -€1,622 | -24.6% |
| Suppliers | 440/4 | €6,582 | €4,960 | -€1,622 | -24.6% |
| Advances received on contracts in progress | 46 | €26,450 | €6,478 | -€19,973 | -75.5% |
| Taxes, remuneration and social security | 45 | €30,304 | €37,392 | +€7,088 | +23.4% |
| Taxes | 450/3 | €20,168 | €37,392 | +€17,225 | +85.4% |
| Remuneration and social security | 454/9 | €10,137 | - | -€10,137 | |
| Other amounts payable | 47/48 | €12,291 | €148,017 | +€135,725 | +1104.2% |
| Remuneration, social security and pensions | 62 | €41,532 | €44,102 | +€2,570 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,486 | €60,039 | -€447 | -0.7% |
| Other operating charges | 640/8 | €5,174 | €5,321 | +€147 | +2.8% |
| Gross operating margin | 9900 | €120,466 | €134,763 | +€14,297 | +11.9% |
| Operating profit (loss) | 9901 | €13,274 | €25,301 | +€12,027 | +90.6% |
| Financial income | 75/76B | €836 | - | -€836 | |
| Recurring financial income | 75 | €836 | - | -€836 | |
| Financial charges | 65/66B | €5,556 | €4,437 | -€1,119 | -20.1% |
| Recurring financial charges | 65 | €5,556 | €4,437 | -€1,119 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €8,554 | €20,864 | +€12,310 | +143.9% |
| Income taxes | 67/77 | €21,932 | €11,111 | -€10,820 | -49.3% |
| Profit (loss) for the period | 9904 | -€13,378 | €9,753 | +€23,131 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,378 | €9,753 | +€23,131 |
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 11 October 2026 via checked.be.