RAINBOWS: 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.
RAINBOWS
Largest movements
- Receivables within one year +€224,931
up €224,931 (+421%), from €53,461 to €278,392
of which Trade receivables: +€212,634
- Deferred charges and accrued income -€196,759
down €196,759 (-98.2%), from €200,311 to €3,551
- Tangible fixed assets -€68,826
down €68,826 (-3.2%), from €2.2m to €2.1m
of which Land and buildings: -€53,369
- Profit (loss) carried forward +€91,621
up €91,621 (+14.9%), from €612,977 to €704,598
- Debts after one year -€79,908
down €79,908 (-12.9%), from €618,765 to €538,858
- Investment grants -€29,438
down €29,438 (-3.5%), from €841,921 to €812,484
- Staff costs +€121,023
up €121,023 (+10.2%), from €1.2m to €1.3m
- Gross operating margin +€25,242
up €25,242 (+1.6%), from €1.6m to €1.6m
- Financial charges +€24,392
up €24,392 (+57.7%), from €42,293 to €66,684
of which Non-recurring financial charges: +€21,658
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 | €2,448,225 | €2,424,613 | -€23,613 | -1.0% |
| Fixed assets | 21/28 | €2,179,661 | €2,113,835 | -€65,826 | -3.0% |
| Tangible fixed assets | 22/27 | €2,179,661 | €2,110,835 | -€68,826 | -3.2% |
| Land and buildings | 22 | €2,079,096 | €2,025,727 | -€53,369 | -2.6% |
| Plant, machinery and equipment | 23 | €22,820 | €14,818 | -€8,001 | -35.1% |
| Furniture and vehicles | 24 | €54,110 | €53,329 | -€782 | -1.4% |
| Other tangible fixed assets | 26 | €23,635 | €16,961 | -€6,674 | -28.2% |
| Financial fixed assets | 28 | - | €3,000 | +€3,000 | |
| Current assets | 29/58 | €268,565 | €310,778 | +€42,213 | +15.7% |
| Amounts receivable within one year | 40/41 | €53,461 | €278,392 | +€224,931 | +421% |
| Trade receivables | 40 | €36,733 | €249,368 | +€212,634 | +579% |
| Other amounts receivable | 41 | €16,728 | €29,025 | +€12,296 | +73.5% |
| Current investments | 50/53 | €4,126 | €4,126 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,666 | €24,708 | +€14,042 | +132% |
| Deferred charges and accrued income | 490/1 | €200,311 | €3,551 | -€196,759 | -98.2% |
| Total equity and liabilities | 10/49 | €2,448,225 | €2,424,613 | -€23,613 | -1.0% |
| Equity | 10/15 | €1,462,317 | €1,524,501 | +€62,183 | +4.3% |
| Contributions | 10/11 | €7,418 | €7,418 | = | 0.0% |
| Capital | 10 | €7,418 | €7,418 | = | 0.0% |
| Profit (loss) carried forward | 14 | €612,977 | €704,598 | +€91,621 | +14.9% |
| Investment grants | 15 | €841,921 | €812,484 | -€29,438 | -3.5% |
| Amounts payable | 17/49 | €985,908 | €900,112 | -€85,796 | -8.7% |
| Amounts payable after more than one year | 17 | €618,765 | €538,858 | -€79,908 | -12.9% |
| Financial debts | 170/4 | €618,765 | €538,858 | -€79,908 | -12.9% |
| Amounts payable within one year | 42/48 | €366,971 | €361,188 | -€5,783 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €77,836 | €79,908 | +€2,072 | +2.7% |
| Financial debts | 43 | €140,705 | €136,203 | -€4,502 | -3.2% |
| Credit institutions | 430/8 | €140,705 | €136,203 | -€4,502 | -3.2% |
| Trade debts | 44 | €43,528 | €22,681 | -€20,847 | -47.9% |
| Suppliers | 440/4 | €43,528 | €22,681 | -€20,847 | -47.9% |
| Taxes, remuneration and social security | 45 | €104,901 | €122,396 | +€17,495 | +16.7% |
| Remuneration and social security | 454/9 | €104,901 | €122,396 | +€17,495 | +16.7% |
| Accrued charges and deferred income | 492/3 | €172 | €67 | -€105 | -61.0% |
| Remuneration, social security and pensions | 62 | €1,186,162 | €1,307,185 | +€121,023 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,254 | €136,703 | +€9,449 | +7.4% |
| Other operating charges | 640/8 | €1,508 | €8,133 | +€6,624 | +439% |
| Gross operating margin | 9900 | €1,554,519 | €1,579,762 | +€25,242 | +1.6% |
| Operating profit (loss) | 9901 | €239,595 | €127,741 | -€111,854 | -46.7% |
| Financial income | 75/76B | €30,600 | €30,659 | +€59 | +0.2% |
| Recurring financial income | 75 | €30,600 | €30,659 | +€59 | +0.2% |
| Financial charges | 65/66B | €42,293 | €66,684 | +€24,392 | +57.7% |
| Recurring financial charges | 65 | €16,483 | €19,216 | +€2,734 | +16.6% |
| Non-recurring financial charges | 66B | €25,810 | €47,468 | +€21,658 | +83.9% |
| Profit (loss) for the period before taxes | 9903 | €227,902 | €91,716 | -€136,186 | -59.8% |
| Income taxes | 67/77 | - | €95 | +€95 | |
| Profit (loss) for the period | 9904 | €227,902 | €91,621 | -€136,281 | -59.8% |
| Profit (loss) for the period to be appropriated | 9905 | €227,902 | €91,621 | -€136,281 | -59.8% |
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 14 October 2026 via checked.be.