RASHED NOURI: what changed
Two fiscal 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.
RASHED NOURI
Largest movements
- Receivables within one year +€37,800
up €37,800 (+93.1%), from €40,618 to €78,418
of which Trade receivables: +€24,665
- Tangible fixed assets -€23,567
down €23,567 (-97.8%), from €24,105 to €537
of which Leasing and similar rights: -€23,228
- Cash +€10,272
up €10,272 (+79.4%), from €12,936 to €23,208
mainly Net result for the year (+€42,289) and Investment in fixed assets (net) (+€23,228)
- Reserves +€42,289
up €42,289 (+114.2%), from €37,024 to €79,312
- Current portion of long-term debt -€10,184
down €10,184 (-100.0%), from €10,184 to €0
- Debts after one year -€8,830
down €8,830 (-100.0%), from €8,830 to €0
- Tax, wage and social debts +€6,192
up €6,192 (+61.9%), from €10,011 to €16,203
- Trade debts -€4,898
down €4,898 (-100.0%), from €4,898 to €0
- Gross operating margin +€21,494
up €21,494 (+68.6%), from €31,330 to €52,824
- Depreciation -€12,520
down €12,520 (-97.4%), from €12,859 to €339
- Taxes +€6,389
up €6,389 (+129.0%), from €4,951 to €11,340
- Financial income +€1,931
new in 2025: €1,931
- Financial charges -€839
down €839 (-66.0%), from €1,272 to €433
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.
Cash bridge derived
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 | €77,946 | €103,164 | +€25,217 | +32.4% |
| Fixed assets | 21/28 | €24,105 | €537 | -€23,567 | -97.8% |
| Tangible fixed assets | 22/27 | €24,105 | €537 | -€23,567 | -97.8% |
| Plant, machinery and equipment | 23 | €877 | €537 | -€339 | -38.7% |
| Leasing and similar rights | 25 | €23,228 | €0 | -€23,228 | -100.0% |
| Current assets | 29/58 | €53,842 | €102,626 | +€48,784 | +90.6% |
| Amounts receivable within one year | 40/41 | €40,618 | €78,418 | +€37,800 | +93.1% |
| Trade receivables | 40 | €11,823 | €36,487 | +€24,665 | +208.6% |
| Other amounts receivable | 41 | €28,795 | €41,931 | +€13,135 | +45.6% |
| Cash at bank and in hand | 54/58 | €12,936 | €23,208 | +€10,272 | +79.4% |
| Deferred charges and accrued income | 490/1 | €288 | €1,000 | +€712 | +247.5% |
| Total equity and liabilities | 10/49 | €77,946 | €103,164 | +€25,217 | +32.4% |
| Equity | 10/15 | €44,024 | €86,312 | +€42,289 | +96.1% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €37,024 | €79,312 | +€42,289 | +114.2% |
| Distributable reserves | 133 | €37,024 | €79,312 | +€42,289 | +114.2% |
| Amounts payable | 17/49 | €33,923 | €16,851 | -€17,071 | -50.3% |
| Amounts payable after more than one year | 17 | €8,830 | €0 | -€8,830 | -100.0% |
| Financial debts | 170/4 | €8,830 | €0 | -€8,830 | -100.0% |
| Amounts payable within one year | 42/48 | €25,093 | €16,203 | -€8,889 | -35.4% |
| Current portion of amounts payable after more than one year | 42 | €10,184 | €0 | -€10,184 | -100.0% |
| Trade debts | 44 | €4,898 | €0 | -€4,898 | -100.0% |
| Suppliers | 440/4 | €4,898 | €0 | -€4,898 | -100.0% |
| Taxes, remuneration and social security | 45 | €10,011 | €16,203 | +€6,192 | +61.9% |
| Taxes | 450/3 | €10,011 | €16,203 | +€6,192 | +61.9% |
| Accrued charges and deferred income | 492/3 | - | €648 | +€648 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,859 | €339 | -€12,520 | -97.4% |
| Other operating charges | 640/8 | €1,116 | €354 | -€762 | -68.3% |
| Gross operating margin | 9900 | €31,330 | €52,824 | +€21,494 | +68.6% |
| Operating profit (loss) | 9901 | €17,355 | €52,131 | +€34,776 | +200.4% |
| Financial income | 75/76B | - | €1,931 | +€1,931 | |
| Recurring financial income | 75 | - | €1,931 | +€1,931 | |
| Financial charges | 65/66B | €1,272 | €433 | -€839 | -66.0% |
| Recurring financial charges | 65 | €1,272 | €433 | -€839 | -66.0% |
| Profit (loss) for the period before taxes | 9903 | €16,083 | €53,629 | +€37,546 | +233.4% |
| Income taxes | 67/77 | €4,951 | €11,340 | +€6,389 | +129.0% |
| Profit (loss) for the period | 9904 | €11,132 | €42,289 | +€31,157 | +279.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,132 | €42,289 | +€31,157 | +279.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.