REINO: 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.
REINO
Largest movements
- Financial fixed assets -€159,780
down €159,780 (-60.0%), from €266,355 to €106,575
- Receivables within one year +€143,172
up €143,172 (+333%), from €42,972 to €186,144
of which Other amounts receivable: +€121,855
- Receivables after one year +€47,221
new in 2025: €47,221
- Cash +€23,806
up €23,806 (+140%), from €17,036 to €40,842
mainly Investment in fixed assets (net) (+€159,780) and Net result for the year (+€80,296)
- Deferred charges and accrued income +€7,734
up €7,734 (+215%), from €3,594 to €11,329
- Reserves +€80,296
up €80,296 (+24.6%), from €326,777 to €407,073
- Trade debts -€15,680
down €15,680 (-73.2%), from €21,424 to €5,744
- Other debts -€11,333
down €11,333 (-99.5%), from €11,393 to €60
- Staff costs -€55,149
down €55,149 (-100%), from €55,149 to €0
- Financial income +€52,672
up €52,672 (+176%), from €30,003 to €82,675
of which Non-recurring financial income: +€76,326
- Gross operating margin -€47,901
down €47,901 (-74.5%), from €64,315 to €16,413
- Taxes +€8,311
up €8,311 (+206%), from €4,026 to €12,337
- Financial charges -€2,382
down €2,382, from €2,276 to -€106
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 | €436,784 | €490,610 | +€53,825 | +12.3% |
| Fixed assets | 21/28 | €369,879 | €205,074 | -€164,805 | -44.6% |
| Tangible fixed assets | 22/27 | €103,524 | €98,499 | -€5,025 | -4.9% |
| Land and buildings | 22 | €101,053 | €96,659 | -€4,394 | -4.3% |
| Furniture and vehicles | 24 | €2,471 | €1,840 | -€632 | -25.6% |
| Financial fixed assets | 28 | €266,355 | €106,575 | -€159,780 | -60.0% |
| Current assets | 29/58 | €66,905 | €285,536 | +€218,630 | +327% |
| Amounts receivable after more than one year | 29 | - | €47,221 | +€47,221 | |
| Other amounts receivable | 291 | - | €47,221 | +€47,221 | |
| Amounts receivable within one year | 40/41 | €42,972 | €186,144 | +€143,172 | +333% |
| Trade receivables | 40 | €1,150 | €22,468 | +€21,318 | +1,854% |
| Other amounts receivable | 41 | €41,822 | €163,676 | +€121,855 | +291% |
| Current investments | 50/53 | €3,303 | €0 | -€3,303 | -100% |
| Cash at bank and in hand | 54/58 | €17,036 | €40,842 | +€23,806 | +140% |
| Deferred charges and accrued income | 490/1 | €3,594 | €11,329 | +€7,734 | +215% |
| Total equity and liabilities | 10/49 | €436,784 | €490,610 | +€53,825 | +12.3% |
| Equity | 10/15 | €340,974 | €421,270 | +€80,296 | +23.5% |
| Contributions | 10/11 | €14,197 | €14,197 | = | 0.0% |
| Reserves | 13 | €326,777 | €407,073 | +€80,296 | +24.6% |
| Distributable reserves | 133 | €326,777 | €407,073 | +€80,296 | +24.6% |
| Amounts payable | 17/49 | €95,810 | €69,340 | -€26,470 | -27.6% |
| Amounts payable after more than one year | 17 | €48,481 | €45,313 | -€3,168 | -6.5% |
| Financial debts | 170/4 | €48,481 | €45,313 | -€3,168 | -6.5% |
| Amounts payable within one year | 42/48 | €46,657 | €24,027 | -€22,630 | -48.5% |
| Current portion of amounts payable after more than one year | 42 | €3,074 | €3,168 | +€94 | +3.0% |
| Trade debts | 44 | €21,424 | €5,744 | -€15,680 | -73.2% |
| Suppliers | 440/4 | €21,424 | €5,744 | -€15,680 | -73.2% |
| Taxes, remuneration and social security | 45 | €10,766 | €15,054 | +€4,288 | +39.8% |
| Taxes | 450/3 | €7,260 | €15,054 | +€7,794 | +107% |
| Remuneration and social security | 454/9 | €3,506 | €0 | -€3,506 | -100% |
| Other amounts payable | 47/48 | €11,393 | €60 | -€11,333 | -99.5% |
| Accrued charges and deferred income | 492/3 | €672 | €0 | -€672 | -100% |
| Remuneration, social security and pensions | 62 | €55,149 | €0 | -€55,149 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,025 | €5,025 | = | 0.0% |
| Other operating charges | 640/8 | €1,144 | €1,536 | +€391 | +34.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €64,315 | €16,413 | -€47,901 | -74.5% |
| Operating profit (loss) | 9901 | €2,997 | €9,853 | +€6,856 | +229% |
| Financial income | 75/76B | €30,003 | €82,675 | +€52,672 | +176% |
| Recurring financial income | 75 | €30,003 | €6,349 | -€23,654 | -78.8% |
| Non-recurring financial income | 76B | - | €76,326 | +€76,326 | |
| Financial charges | 65/66B | €2,276 | -€106 | -€2,382 | |
| Recurring financial charges | 65 | €2,276 | -€106 | -€2,382 | |
| Profit (loss) for the period before taxes | 9903 | €30,723 | €92,633 | +€61,910 | +202% |
| Income taxes | 67/77 | €4,026 | €12,337 | +€8,311 | +206% |
| Profit (loss) for the period | 9904 | €26,697 | €80,296 | +€53,599 | +201% |
| Profit (loss) for the period to be appropriated | 9905 | €26,697 | €80,296 | +€53,599 | +201% |
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 28 October 2026 via checked.be.