RAILCO: 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.
What changed
RAILCO
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€22,318
2024 · €100,874-€78,556
Equity
€3.4m
2024 · €3.3m+€22,318
Cash
€110,758
2024 · €83,789+€26,969
Balance sheet total
€4.3m
2024 · €4.3m-€31,836
Largest movements
Assets
- Tangible fixed assets -€74,948
down €74,948 (-6.9%), from €1.1m to €1.0m
of which Land and buildings: -€59,955
Equity and liabilities
- Other debts -€84,987
down €84,987 (-9.2%), from €928,357 to €843,369
Income statement
- Gross operating margin -€85,956
down €85,956 (-32.0%), from €268,949 to €182,993
- Financial charges +€34,554
up €34,554 (+30,268%), from €114 to €34,668
- Taxes -€30,009
down €30,009 (-71.9%), from €41,729 to €11,720
- Depreciation -€13,861
down €13,861 (-13.0%), from €106,612 to €92,751
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.
Result 2024
€100,874
Gross operating margin
-€85,956
Depreciation
+€13,861
Other operating charges
-€1,538
Other operating items
-€451
Financial income
+€74
Financial charges
-€34,554
Taxes
+€30,009
Result 2025
€22,318
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€70,721
Investment
-€43,751
Financing
€0
Cash 2024
€83,789
From operations (derived)
+€70,721
Net result for the year
+€22,318
Depreciation
+€92,751
Receivables within one year
+€14,262
Deferred charges and accrued income
-€4,456
Trade debts
+€9,855
Tax, wage and social debts
-€13,572
Other debts
-€84,987
Accrued charges and deferred income
+€34,550
Investment (derived)
-€43,751
Investment in fixed assets (net)
-€43,751
Cash 2025
€110,758
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,308,529 | €4,276,693 | -€31,836 | -0.7% |
| Fixed assets | 21/28 | €3,660,745 | €3,611,745 | -€49,000 | -1.3% |
| Intangible fixed assets | 21 | €63,398 | €89,346 | +€25,948 | +40.9% |
| Tangible fixed assets | 22/27 | €1,080,346 | €1,005,399 | -€74,948 | -6.9% |
| Land and buildings | 22 | €1,023,077 | €963,122 | -€59,955 | -5.9% |
| Plant, machinery and equipment | 23 | €51,889 | €39,141 | -€12,748 | -24.6% |
| Furniture and vehicles | 24 | €5,380 | €3,136 | -€2,245 | -41.7% |
| Financial fixed assets | 28 | €2,517,000 | €2,517,000 | = | 0.0% |
| Current assets | 29/58 | €647,784 | €664,948 | +€17,164 | +2.6% |
| Amounts receivable within one year | 40/41 | €540,371 | €526,109 | -€14,262 | -2.6% |
| Trade receivables | 40 | €49,386 | €47,747 | -€1,639 | -3.3% |
| Other amounts receivable | 41 | €490,985 | €478,362 | -€12,623 | -2.6% |
| Cash at bank and in hand | 54/58 | €83,789 | €110,758 | +€26,969 | +32.2% |
| Deferred charges and accrued income | 490/1 | €23,624 | €28,080 | +€4,456 | +18.9% |
| Total equity and liabilities | 10/49 | €4,308,529 | €4,276,693 | -€31,836 | -0.7% |
| Equity | 10/15 | €3,336,158 | €3,358,476 | +€22,318 | +0.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €3,274,658 | €3,296,976 | +€22,318 | +0.7% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €91,300 | €91,300 | = | 0.0% |
| Distributable reserves | 133 | €3,177,208 | €3,199,526 | +€22,318 | +0.7% |
| Amounts payable | 17/49 | €972,371 | €918,217 | -€54,154 | -5.6% |
| Amounts payable within one year | 42/48 | €972,371 | €883,667 | -€88,704 | -9.1% |
| Trade debts | 44 | €18,753 | €28,608 | +€9,855 | +52.5% |
| Suppliers | 440/4 | €18,753 | €28,608 | +€9,855 | +52.5% |
| Taxes, remuneration and social security | 45 | €25,261 | €11,690 | -€13,572 | -53.7% |
| Taxes | 450/3 | €19,448 | €6,258 | -€13,190 | -67.8% |
| Remuneration and social security | 454/9 | €5,814 | €5,432 | -€382 | -6.6% |
| Other amounts payable | 47/48 | €928,357 | €843,369 | -€84,987 | -9.2% |
| Accrued charges and deferred income | 492/3 | - | €34,550 | +€34,550 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,612 | €92,751 | -€13,861 | -13.0% |
| Other operating charges | 640/8 | €19,619 | €21,158 | +€1,538 | +7.8% |
| Non-recurring operating charges | 66A | - | €451 | +€451 | |
| Gross operating margin | 9900 | €268,949 | €182,993 | -€85,956 | -32.0% |
| Operating profit (loss) | 9901 | €142,717 | €68,632 | -€74,085 | -51.9% |
| Financial income | 75/76B | €0 | €74 | +€74 | +246,067% |
| Recurring financial income | 75 | €0 | €74 | +€74 | +246,067% |
| Financial charges | 65/66B | €114 | €34,668 | +€34,554 | +30,268% |
| Recurring financial charges | 65 | €114 | €34,668 | +€34,554 | +30,268% |
| Profit (loss) for the period before taxes | 9903 | €142,603 | €34,039 | -€108,565 | -76.1% |
| Income taxes | 67/77 | €41,729 | €11,720 | -€30,009 | -71.9% |
| Profit (loss) for the period | 9904 | €100,874 | €22,318 | -€78,556 | -77.9% |
| Profit (loss) for the period to be appropriated | 9905 | €100,874 | €22,318 | -€78,556 | -77.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.