RATIONAL-IT: 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.
RATIONAL-IT
Largest movements
- Current investments +€24,000
up €24,000 (+23.5%), from €102,341 to €126,340
- Cash -€19,005
down €19,005 (-40.9%), from €46,439 to €27,434
mainly Contributions, distributions and other (-€79,321) and Debts after one year (-€32,058)
- Tangible fixed assets -€15,728
down €15,728 (-5.5%), from €285,714 to €269,986
of which Land and buildings: -€17,471
- Receivables within one year +€8,111
up €8,111 (+17.1%), from €47,309 to €55,420
of which Trade receivables: +€14,353
- Deferred charges and accrued income -€7,485
down €7,485 (-21.1%), from €35,479 to €27,994
- Other debts +€72,197
up €72,197 (+605.2%), from €11,929 to €84,126
- Reserves -€45,961
down €45,961 (-19.4%), from €237,354 to €191,394
of which Distributable reserves: -€45,961
- Debts after one year -€32,058
down €32,058 (-16.0%), from €200,096 to €168,038
- Trade debts -€9,190
down €9,190 (-54.9%), from €16,740 to €7,550
- Gross operating margin -€14,937
down €14,937 (-13.1%), from €113,902 to €98,964
- Depreciation +€2,410
up €2,410 (+9.4%), from €25,770 to €28,180
- Taxes -€1,704
down €1,704 (-10.2%), from €16,690 to €14,985
- Financial charges +€1,258
up €1,258 (+6.7%), from €18,753 to €20,010
- Financial income -€1,193
down €1,193 (-48.6%), from €2,455 to €1,262
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 | €517,532 | €507,425 | -€10,107 | -2.0% |
| Fixed assets | 21/28 | €285,964 | €270,236 | -€15,728 | -5.5% |
| Tangible fixed assets | 22/27 | €285,714 | €269,986 | -€15,728 | -5.5% |
| Land and buildings | 22 | €197,442 | €179,972 | -€17,471 | -8.8% |
| Plant, machinery and equipment | 23 | €3,206 | €3,223 | +€17 | +0.5% |
| Furniture and vehicles | 24 | €819 | €3,585 | +€2,767 | +338.0% |
| Leasing and similar rights | 25 | €68,457 | €62,446 | -€6,012 | -8.8% |
| Other tangible fixed assets | 26 | €15,790 | €20,761 | +€4,971 | +31.5% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €231,568 | €237,189 | +€5,620 | +2.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €47,309 | €55,420 | +€8,111 | +17.1% |
| Trade receivables | 40 | €20,433 | €34,786 | +€14,353 | +70.2% |
| Other amounts receivable | 41 | €26,876 | €20,633 | -€6,243 | -23.2% |
| Current investments | 50/53 | €102,341 | €126,340 | +€24,000 | +23.5% |
| Cash at bank and in hand | 54/58 | €46,439 | €27,434 | -€19,005 | -40.9% |
| Deferred charges and accrued income | 490/1 | €35,479 | €27,994 | -€7,485 | -21.1% |
| Total equity and liabilities | 10/49 | €517,532 | €507,425 | -€10,107 | -2.0% |
| Equity | 10/15 | €249,754 | €203,794 | -€45,961 | -18.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €237,354 | €191,394 | -€45,961 | -19.4% |
| Tax-exempt reserves | 132 | €27,278 | €27,278 | = | 0.0% |
| Distributable reserves | 133 | €210,077 | €164,116 | -€45,961 | -21.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €267,778 | €303,631 | +€35,853 | +13.4% |
| Amounts payable after more than one year | 17 | €200,096 | €168,038 | -€32,058 | -16.0% |
| Financial debts | 170/4 | €200,096 | €168,038 | -€32,058 | -16.0% |
| Amounts payable within one year | 42/48 | €67,682 | €135,594 | +€67,912 | +100.3% |
| Current portion of amounts payable after more than one year | 42 | €30,249 | €32,058 | +€1,809 | +6.0% |
| Trade debts | 44 | €16,740 | €7,550 | -€9,190 | -54.9% |
| Suppliers | 440/4 | €16,740 | €7,550 | -€9,190 | -54.9% |
| Taxes, remuneration and social security | 45 | €8,764 | €11,860 | +€3,096 | +35.3% |
| Taxes | 450/3 | €8,764 | €11,860 | +€3,096 | +35.3% |
| Other amounts payable | 47/48 | €11,929 | €84,126 | +€72,197 | +605.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €12,704 | €0 | -€12,704 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,770 | €28,180 | +€2,410 | +9.4% |
| Other operating charges | 640/8 | €3,385 | €3,689 | +€305 | +9.0% |
| Gross operating margin | 9900 | €113,902 | €98,964 | -€14,937 | -13.1% |
| Operating profit (loss) | 9901 | €84,747 | €67,095 | -€17,652 | -20.8% |
| Financial income | 75/76B | €2,455 | €1,262 | -€1,193 | -48.6% |
| Recurring financial income | 75 | €2,455 | €1,262 | -€1,193 | -48.6% |
| Financial charges | 65/66B | €18,753 | €20,010 | +€1,258 | +6.7% |
| Recurring financial charges | 65 | €18,753 | €20,010 | +€1,258 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €68,449 | €48,346 | -€20,103 | -29.4% |
| Income taxes | 67/77 | €16,690 | €14,985 | -€1,704 | -10.2% |
| Profit (loss) for the period | 9904 | €51,760 | €33,361 | -€18,399 | -35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €51,760 | €33,361 | -€18,399 | -35.5% |
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 30 September 2026 via checked.be.