RAIL MANAGEMENT HK: what changed
RAIL MANAGEMENT HK
Largest movements
- Cash -€87,196
down €87,196 (-83.9%), from €103,937 to €16,742
mainly Contributions, distributions and other (-€107,408) and Net result for the year (-€40,433)
- Receivables within one year -€4,502
down €4,502 (-22.2%), from €20,260 to €15,759
of which Trade receivables: -€3,964
- Profit (loss) carried forward -€147,841
down €147,841, from €107,408 to -€40,433
- Debts after one year +€66,634
new in 2025: €66,634
- Tax, wage and social debts -€10,032
down €10,032 (-53.2%), from €18,858 to €8,826
- Trade debts -€1,742
down €1,742 (-42.3%), from €4,116 to €2,373
- Gross operating margin -€180,527
down €180,527, from €150,498 to -€30,029
- Taxes -€38,652
down €38,652 (-99.0%), from €39,049 to €397
- Financial charges +€5,870
up €5,870 (+206%), from €2,853 to €8,723
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 | €130,482 | €37,500 | -€92,982 | -71.3% |
| Fixed assets | 21/28 | €6,284 | €5,000 | -€1,284 | -20.4% |
| Tangible fixed assets | 22/27 | €1,284 | - | -€1,284 | |
| Furniture and vehicles | 24 | €1,284 | - | -€1,284 | |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €124,198 | €32,500 | -€91,697 | -73.8% |
| Amounts receivable within one year | 40/41 | €20,260 | €15,759 | -€4,502 | -22.2% |
| Trade receivables | 40 | €19,723 | €15,759 | -€3,964 | -20.1% |
| Other amounts receivable | 41 | €537 | - | -€537 | |
| Cash at bank and in hand | 54/58 | €103,937 | €16,742 | -€87,196 | -83.9% |
| Total equity and liabilities | 10/49 | €130,482 | €37,500 | -€92,982 | -71.3% |
| Equity | 10/15 | €107,508 | -€40,333 | -€147,841 | |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €107,408 | -€40,433 | -€147,841 | |
| Amounts payable | 17/49 | €22,974 | €77,834 | +€54,860 | +239% |
| Amounts payable after more than one year | 17 | - | €66,634 | +€66,634 | |
| Other amounts payable | 178/9 | - | €66,634 | +€66,634 | |
| Amounts payable within one year | 42/48 | €22,974 | €11,199 | -€11,775 | -51.3% |
| Trade debts | 44 | €4,116 | €2,373 | -€1,742 | -42.3% |
| Suppliers | 440/4 | €4,116 | €2,373 | -€1,742 | -42.3% |
| Taxes, remuneration and social security | 45 | €18,858 | €8,826 | -€10,032 | -53.2% |
| Taxes | 450/3 | €18,858 | €8,826 | -€10,032 | -53.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,005 | €1,284 | -€721 | -35.9% |
| Gross operating margin | 9900 | €150,498 | -€30,029 | -€180,527 | |
| Operating profit (loss) | 9901 | €148,493 | -€31,313 | -€179,806 | |
| Financial charges | 65/66B | €2,853 | €8,723 | +€5,870 | +206% |
| Recurring financial charges | 65 | €2,853 | €8,723 | +€5,870 | +206% |
| Profit (loss) for the period before taxes | 9903 | €145,640 | -€40,036 | -€185,676 | |
| Income taxes | 67/77 | €39,049 | €397 | -€38,652 | -99.0% |
| Profit (loss) for the period | 9904 | €106,591 | -€40,433 | -€147,024 | |
| Profit (loss) for the period to be appropriated | 9905 | €106,591 | -€40,433 | -€147,024 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.