RAILINGCOMPANY: 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
RAILINGCOMPANY
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€17,873
2024 · €54,803-€36,930
Equity
€1.6m
2024 · €1.6m+€17,873
Cash
€68,575
2024 · €57,353+€11,223
Balance sheet total
€4.5m
2024 · €4.5m+€40,116
Largest movements
Assets
- Receivables after one year +€167,665
new in 2025: €167,665
- Tangible fixed assets -€100,907
down €100,907 (-3.4%), from €3.0m to €2.9m
of which Land and buildings: -€75,704
- Receivables within one year -€46,191
down €46,191 (-20.9%), from €221,344 to €175,152
of which Trade receivables: -€69,564
Equity and liabilities
- Trade debts +€76,322
up €76,322 (+147%), from €52,011 to €128,333
- Debts after one year -€55,341
down €55,341 (-2.2%), from €2.6m to €2.5m
of which Other amounts payable: -€39,835
Income statement
- Gross operating margin -€71,786
down €71,786 (-9.9%), from €728,741 to €656,956
- Financial charges -€36,276
down €36,276 (-32.7%), from €111,034 to €74,757
- Taxes -€19,232
down €19,232 (-75.5%), from €25,485 to €6,253
- Staff costs +€17,074
up €17,074 (+4.8%), from €359,248 to €376,322
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
€54,803
Gross operating margin
-€71,786
Staff costs
-€17,074
Depreciation
-€3,065
Other operating charges
-€515
Financial income
+€1
Financial charges
+€36,276
Taxes
+€19,232
Result 2025
€17,873
raises the resultlowers the result
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
+€87,646
Investment
-€43,402
Financing
-€33,021
Cash 2024
€57,353
From operations (derived)
+€87,646
Net result for the year
+€17,873
Depreciation
+€159,031
Receivables after one year
-€167,665
Stocks and contracts
-€33,274
Receivables within one year
+€46,191
Deferred charges and accrued income
+€10,226
Trade debts
+€76,322
Tax, wage and social debts
-€26,104
Accrued charges and deferred income
+€5,046
Investment (derived)
-€43,402
Investment in fixed assets (net)
-€43,402
Financing
-€33,021
Debts after one year
-€55,341
Current portion of long-term debt
+€32,326
Short-term financial debts
-€10,006
Cash 2025
€68,575
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,450,666 | €4,490,781 | +€40,116 | +0.9% |
| Fixed assets | 21/28 | €3,017,207 | €2,901,578 | -€115,629 | -3.8% |
| Intangible fixed assets | 21 | €15,552 | €829 | -€14,722 | -94.7% |
| Tangible fixed assets | 22/27 | €3,001,656 | €2,900,749 | -€100,907 | -3.4% |
| Land and buildings | 22 | €2,860,000 | €2,784,296 | -€75,704 | -2.6% |
| Plant, machinery and equipment | 23 | €138,525 | €96,548 | -€41,977 | -30.3% |
| Furniture and vehicles | 24 | €3,131 | €19,905 | +€16,774 | +536% |
| Current assets | 29/58 | €1,433,458 | €1,589,203 | +€155,745 | +10.9% |
| Amounts receivable after more than one year | 29 | - | €167,665 | +€167,665 | |
| Other amounts receivable | 291 | - | €167,665 | +€167,665 | |
| Stocks and contracts in progress | 3 | €1,141,305 | €1,174,579 | +€33,274 | +2.9% |
| Stocks | 30/36 | €955,917 | €994,794 | +€38,877 | +4.1% |
| Contracts in progress | 37 | €185,388 | €179,785 | -€5,603 | -3.0% |
| Amounts receivable within one year | 40/41 | €221,344 | €175,152 | -€46,191 | -20.9% |
| Trade receivables | 40 | €221,344 | €151,779 | -€69,564 | -31.4% |
| Other amounts receivable | 41 | €0 | €23,373 | +€23,373 | |
| Cash at bank and in hand | 54/58 | €57,353 | €68,575 | +€11,223 | +19.6% |
| Deferred charges and accrued income | 490/1 | €13,457 | €3,232 | -€10,226 | -76.0% |
| Total equity and liabilities | 10/49 | €4,450,666 | €4,490,781 | +€40,116 | +0.9% |
| Equity | 10/15 | €1,563,749 | €1,581,622 | +€17,873 | +1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €902,232 | €902,232 | = | 0.0% |
| Reserves | 13 | €642,917 | €660,790 | +€17,873 | +2.8% |
| Distributable reserves | 133 | €642,917 | €660,790 | +€17,873 | +2.8% |
| Amounts payable | 17/49 | €2,886,917 | €2,909,160 | +€22,243 | +0.8% |
| Amounts payable after more than one year | 17 | €2,573,079 | €2,517,738 | -€55,341 | -2.2% |
| Financial debts | 170/4 | €2,261,027 | €2,245,521 | -€15,506 | -0.7% |
| Other amounts payable | 178/9 | €312,052 | €272,217 | -€39,835 | -12.8% |
| Amounts payable within one year | 42/48 | €295,023 | €367,560 | +€72,537 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €170,743 | €203,069 | +€32,326 | +18.9% |
| Financial debts | 43 | €10,006 | €0 | -€10,006 | -100% |
| Credit institutions | 430/8 | €10,006 | €0 | -€10,006 | -100% |
| Trade debts | 44 | €52,011 | €128,333 | +€76,322 | +147% |
| Suppliers | 440/4 | €52,011 | €128,333 | +€76,322 | +147% |
| Taxes, remuneration and social security | 45 | €62,262 | €36,158 | -€26,104 | -41.9% |
| Taxes | 450/3 | €38,375 | €11,765 | -€26,610 | -69.3% |
| Remuneration and social security | 454/9 | €23,887 | €24,392 | +€505 | +2.1% |
| Accrued charges and deferred income | 492/3 | €18,815 | €23,861 | +€5,046 | +26.8% |
| Remuneration, social security and pensions | 62 | €359,248 | €376,322 | +€17,074 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €155,967 | €159,031 | +€3,065 | +2.0% |
| Other operating charges | 640/8 | €22,456 | €22,972 | +€515 | +2.3% |
| Gross operating margin | 9900 | €728,741 | €656,956 | -€71,786 | -9.9% |
| Operating profit (loss) | 9901 | €191,071 | €98,631 | -€92,440 | -48.4% |
| Financial income | 75/76B | €252 | €253 | +€1 | +0.5% |
| Recurring financial income | 75 | €252 | €253 | +€1 | +0.5% |
| Financial charges | 65/66B | €111,034 | €74,757 | -€36,276 | -32.7% |
| Recurring financial charges | 65 | €111,034 | €74,757 | -€36,276 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | €80,289 | €24,126 | -€56,162 | -70.0% |
| Income taxes | 67/77 | €25,485 | €6,253 | -€19,232 | -75.5% |
| Profit (loss) for the period | 9904 | €54,803 | €17,873 | -€36,930 | -67.4% |
| Profit (loss) for the period to be appropriated | 9905 | €54,803 | €17,873 | -€36,930 | -67.4% |
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 21 October 2026 via checked.be.