RAIL-W: 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-W
Largest movements
- Cash +€21,989
up €21,989 (+8,987%), from €245 to €22,234
mainly Net result for the year (+€44,836) and Provisions (+€28,043)
- Receivables within one year +€21,417
up €21,417 (+28.5%), from €75,252 to €96,670
of which Trade receivables: +€39,960
- Tangible fixed assets -€14,685
down €14,685 (-33.8%), from €43,480 to €28,795
- Profit (loss) carried forward +€148,490
up €148,490 (+92.6%), from -€160,275 to -€11,785
- Reserves -€103,653
down €103,653 (-100%), from €103,653 to €0
- Other debts -€55,142
down €55,142 (-55.7%), from €98,989 to €43,847
- Provisions +€28,043
new in 2025: €28,043
- Trade debts +€13,543
up €13,543 (+17.7%), from €76,315 to €89,858
- Gross operating margin +€169,740
up €169,740, from -€45,534 to €124,207
- Provisions +€28,043
new in 2025: €28,043
- Write-downs +€24,219
new in 2025: €24,219
- Financial charges +€2,615
up €2,615 (+86.2%), from €3,034 to €5,649
- Financial income +€1,427
up €1,427 (+311%), from €458 to €1,885
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 | €150,501 | €179,722 | +€29,221 | +19.4% |
| Fixed assets | 21/28 | €65,382 | €50,697 | -€14,685 | -22.5% |
| Tangible fixed assets | 22/27 | €43,480 | €28,795 | -€14,685 | -33.8% |
| Land and buildings | 22 | €20,196 | €16,147 | -€4,049 | -20.0% |
| Plant, machinery and equipment | 23 | €15,452 | €11,899 | -€3,553 | -23.0% |
| Furniture and vehicles | 24 | €7,832 | €749 | -€7,083 | -90.4% |
| Financial fixed assets | 28 | €21,902 | €21,902 | = | 0.0% |
| Current assets | 29/58 | €85,119 | €129,025 | +€43,906 | +51.6% |
| Amounts receivable within one year | 40/41 | €75,252 | €96,670 | +€21,417 | +28.5% |
| Trade receivables | 40 | €22,213 | €62,173 | +€39,960 | +180% |
| Other amounts receivable | 41 | €53,039 | €34,496 | -€18,543 | -35.0% |
| Cash at bank and in hand | 54/58 | €245 | €22,234 | +€21,989 | +8,987% |
| Deferred charges and accrued income | 490/1 | €9,621 | €10,121 | +€500 | +5.2% |
| Total equity and liabilities | 10/49 | €150,501 | €179,722 | +€29,221 | +19.4% |
| Equity | 10/15 | -€38,072 | €6,765 | +€44,836 | |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €103,653 | €0 | -€103,653 | -100% |
| Tax-exempt reserves | 132 | €103,653 | €0 | -€103,653 | -100% |
| Profit (loss) carried forward | 14 | -€160,275 | -€11,785 | +€148,490 | +92.6% |
| Provisions and deferred taxes | 16 | - | €28,043 | +€28,043 | |
| Provisions for liabilities and charges | 160/5 | - | €28,043 | +€28,043 | |
| Other liabilities and charges | 164/5 | - | €28,043 | +€28,043 | |
| Amounts payable | 17/49 | €188,572 | €144,914 | -€43,659 | -23.2% |
| Amounts payable within one year | 42/48 | €188,572 | €144,914 | -€43,659 | -23.2% |
| Trade debts | 44 | €76,315 | €89,858 | +€13,543 | +17.7% |
| Suppliers | 440/4 | €76,315 | €89,858 | +€13,543 | +17.7% |
| Taxes, remuneration and social security | 45 | €13,268 | €11,209 | -€2,059 | -15.5% |
| Taxes | 450/3 | €13,268 | €11,209 | -€2,059 | -15.5% |
| Other amounts payable | 47/48 | €98,989 | €43,847 | -€55,142 | -55.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,347 | €8,675 | +€328 | +3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €24,219 | +€24,219 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €28,043 | +€28,043 | |
| Other operating charges | 640/8 | €14,884 | €14,320 | -€564 | -3.8% |
| Gross operating margin | 9900 | -€45,534 | €124,207 | +€169,740 | |
| Operating profit (loss) | 9901 | -€68,765 | €48,949 | +€117,715 | |
| Financial income | 75/76B | €458 | €1,885 | +€1,427 | +311% |
| Recurring financial income | 75 | €458 | €1,885 | +€1,427 | +311% |
| Financial charges | 65/66B | €3,034 | €5,649 | +€2,615 | +86.2% |
| Recurring financial charges | 65 | €3,034 | €5,649 | +€2,615 | +86.2% |
| Profit (loss) for the period before taxes | 9903 | -€71,341 | €45,185 | +€116,526 | |
| Income taxes | 67/77 | €801 | €349 | -€452 | -56.4% |
| Profit (loss) for the period | 9904 | -€72,142 | €44,836 | +€116,978 | |
| Transfer from tax-exempt reserves | 789 | - | €103,653 | +€103,653 | |
| Profit (loss) for the period to be appropriated | 9905 | -€72,142 | €148,490 | +€220,631 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.