Rail way Protection Solution: what changed
Rail way Protection Solution
Largest movements
- Cash -€80,712
down €80,712 (-88.2%), from €91,535 to €10,823
mainly Other debts (-€75,663) and Tax, wage and social debts (-€21,061)
- Receivables within one year +€13,817
up €13,817 (+763%), from €1,810 to €15,627
of which Other amounts receivable: +€10,048
- Tangible fixed assets -€1,466
no longer reported in 2026 (was €1,466)
of which Plant, machinery and equipment: -€1,104
- Intangible fixed assets -€1,160
down €1,160 (-37.4%), from €3,102 to €1,942
- Deferred charges and accrued income +€1,154
up €1,154 (+261%), from €443 to €1,598
- Other debts -€75,663
down €75,663 (-94.9%), from €79,715 to €4,052
- Tax, wage and social debts -€21,061
down €21,061 (-95.3%), from €22,110 to €1,050
- Profit (loss) carried forward +€18,172
up €18,172 (+12,008%), from €151 to €18,324
- Trade debts +€10,185
up €10,185 (+1,132%), from €900 to €11,085
- Gross operating margin -€75,922
down €75,922 (-73.8%), from €102,919 to €26,997
- Taxes -€19,006
down €19,006 (-75.5%), from €25,182 to €6,176
Change in the result, 2025 to 2026
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 2025 and 2026 balance sheets and the 2026 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 | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €107,877 | €39,511 | -€68,366 | -63.4% |
| Fixed assets | 21/28 | €4,567 | €1,942 | -€2,626 | -57.5% |
| Intangible fixed assets | 21 | €3,102 | €1,942 | -€1,160 | -37.4% |
| Tangible fixed assets | 22/27 | €1,466 | - | -€1,466 | |
| Plant, machinery and equipment | 23 | €1,104 | - | -€1,104 | |
| Furniture and vehicles | 24 | €362 | - | -€362 | |
| Current assets | 29/58 | €103,309 | €37,569 | -€65,740 | -63.6% |
| Stocks and contracts in progress | 3 | €9,522 | €9,522 | = | 0.0% |
| Stocks | 30/36 | €9,522 | €9,522 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,810 | €15,627 | +€13,817 | +763% |
| Trade receivables | 40 | - | €3,769 | +€3,769 | |
| Other amounts receivable | 41 | €1,810 | €11,858 | +€10,048 | +555% |
| Cash at bank and in hand | 54/58 | €91,535 | €10,823 | -€80,712 | -88.2% |
| Deferred charges and accrued income | 490/1 | €443 | €1,598 | +€1,154 | +261% |
| Total equity and liabilities | 10/49 | €107,877 | €39,511 | -€68,366 | -63.4% |
| Equity | 10/15 | €5,151 | €23,324 | +€18,172 | +353% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €151 | €18,324 | +€18,172 | +12,008% |
| Amounts payable | 17/49 | €102,725 | €16,187 | -€86,538 | -84.2% |
| Amounts payable within one year | 42/48 | €102,725 | €16,187 | -€86,538 | -84.2% |
| Trade debts | 44 | €900 | €11,085 | +€10,185 | +1,132% |
| Suppliers | 440/4 | €900 | €11,085 | +€10,185 | +1,132% |
| Taxes, remuneration and social security | 45 | €22,110 | €1,050 | -€21,061 | -95.3% |
| Taxes | 450/3 | €22,110 | €1,050 | -€21,061 | -95.3% |
| Other amounts payable | 47/48 | €79,715 | €4,052 | -€75,663 | -94.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,804 | €2,626 | -€179 | -6.4% |
| Gross operating margin | 9900 | €102,919 | €26,997 | -€75,922 | -73.8% |
| Operating profit (loss) | 9901 | €100,114 | €24,371 | -€75,743 | -75.7% |
| Financial income | 75/76B | - | €49 | +€49 | |
| Recurring financial income | 75 | - | €49 | +€49 | |
| Financial charges | 65/66B | €32 | €72 | +€40 | +125% |
| Recurring financial charges | 65 | €32 | €72 | +€40 | +125% |
| Profit (loss) for the period before taxes | 9903 | €100,082 | €24,348 | -€75,734 | -75.7% |
| Income taxes | 67/77 | €25,182 | €6,176 | -€19,006 | -75.5% |
| Profit (loss) for the period | 9904 | €74,900 | €18,172 | -€56,728 | -75.7% |
| Profit (loss) for the period to be appropriated | 9905 | €74,900 | €18,172 | -€56,728 | -75.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.