Rail4Rent: what changed
Rail4Rent
Largest movements
- Receivables within one year +€70,292
up €70,292 (+63.5%), from €110,708 to €181,000
of which Trade receivables: +€65,554
- Deferred charges and accrued income -€7,061
down €7,061 (-23.1%), from €30,554 to €23,493
- Cash +€6,851
up €6,851 (+11.3%), from €60,764 to €67,615
mainly Other debts (+€92,330) and Trade debts (+€17,096)
- Other debts +€92,330
up €92,330 (+118%), from €78,450 to €170,779
- Profit (loss) carried forward -€39,650
down €39,650 (-39.2%), from -€101,061 to -€140,711
- Trade debts +€17,096
up €17,096 (+15.6%), from €109,782 to €126,877
- Gross operating margin +€111,787
up €111,787 (+34.4%), from €324,843 to €436,630
- Staff costs +€52,817
up €52,817 (+13.0%), from €407,344 to €460,161
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 | €206,675 | €275,072 | +€68,397 | +33.1% |
| Fixed assets | 21/28 | €4,649 | €2,964 | -€1,685 | -36.2% |
| Tangible fixed assets | 22/27 | €4,649 | €2,964 | -€1,685 | -36.2% |
| Furniture and vehicles | 24 | €4,649 | €2,964 | -€1,685 | -36.2% |
| Current assets | 29/58 | €202,026 | €272,108 | +€70,082 | +34.7% |
| Amounts receivable within one year | 40/41 | €110,708 | €181,000 | +€70,292 | +63.5% |
| Trade receivables | 40 | €110,224 | €175,777 | +€65,554 | +59.5% |
| Other amounts receivable | 41 | €484 | €5,223 | +€4,739 | +979% |
| Cash at bank and in hand | 54/58 | €60,764 | €67,615 | +€6,851 | +11.3% |
| Deferred charges and accrued income | 490/1 | €30,554 | €23,493 | -€7,061 | -23.1% |
| Total equity and liabilities | 10/49 | €206,675 | €275,072 | +€68,397 | +33.1% |
| Equity | 10/15 | -€96,061 | -€135,711 | -€39,650 | -41.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€101,061 | -€140,711 | -€39,650 | -39.2% |
| Amounts payable | 17/49 | €302,736 | €410,783 | +€108,047 | +35.7% |
| Amounts payable within one year | 42/48 | €302,736 | €410,783 | +€108,047 | +35.7% |
| Trade debts | 44 | €109,782 | €126,877 | +€17,096 | +15.6% |
| Suppliers | 440/4 | €109,782 | €126,877 | +€17,096 | +15.6% |
| Taxes, remuneration and social security | 45 | €114,505 | €113,127 | -€1,378 | -1.2% |
| Taxes | 450/3 | €28,534 | €36,084 | +€7,551 | +26.5% |
| Remuneration and social security | 454/9 | €85,971 | €77,042 | -€8,929 | -10.4% |
| Other amounts payable | 47/48 | €78,450 | €170,779 | +€92,330 | +118% |
| Non-recurring operating income | 76A | - | €105 | +€105 | |
| Remuneration, social security and pensions | 62 | €407,344 | €460,161 | +€52,817 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €406 | €1,685 | +€1,279 | +315% |
| Other operating charges | 640/8 | €5,558 | €4,369 | -€1,189 | -21.4% |
| Gross operating margin | 9900 | €324,843 | €436,630 | +€111,787 | +34.4% |
| Operating profit (loss) | 9901 | -€88,465 | -€29,584 | +€58,881 | +66.6% |
| Financial charges | 65/66B | €12,596 | €10,066 | -€2,531 | -20.1% |
| Recurring financial charges | 65 | €12,596 | €10,066 | -€2,531 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | -€101,061 | -€39,650 | +€61,411 | +60.8% |
| Profit (loss) for the period | 9904 | -€101,061 | -€39,650 | +€61,411 | +60.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€101,061 | -€39,650 | +€61,411 | +60.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.