REMBRANDT: 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.
REMBRANDT
Largest movements
- Cash +€63,246
up €63,246 (+56.8%), from €111,406 to €174,652
mainly Net result for the year (+€36,741) and Stocks and contracts (+€20,000)
- Stocks and contracts -€20,000
no longer reported in 2025 (was €20,000)
- Receivables within one year -€17,097
down €17,097 (-45.4%), from €37,640 to €20,543
of which Other amounts receivable: -€19,196
- Tangible fixed assets -€11,573
down €11,573 (-20.2%), from €57,359 to €45,786
of which Furniture and vehicles: -€7,445
- Profit (loss) carried forward +€36,741
up €36,741 (+46.5%), from -€78,978 to -€42,236
- Tax, wage and social debts -€11,932
down €11,932 (-31.2%), from €38,256 to €26,324
of which Remuneration and social security: -€7,789
- Trade debts -€9,924
down €9,924 (-44.3%), from €22,379 to €12,455
- Gross operating margin +€39,465
up €39,465 (+16.7%), from €236,446 to €275,911
- Financial charges +€28,881
up €28,881 (+2,997%), from €964 to €29,845
of which Financial charges: +€26,077
- Staff costs +€23,543
up €23,543 (+13.7%), from €172,373 to €195,915
- Depreciation -€7,136
down €7,136 (-38.1%), from €18,708 to €11,573
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 | €233,877 | €247,913 | +€14,036 | +6.0% |
| Fixed assets | 21/28 | €61,311 | €49,753 | -€11,559 | -18.9% |
| Tangible fixed assets | 22/27 | €57,359 | €45,786 | -€11,573 | -20.2% |
| Land and buildings | 22 | €12,801 | €12,267 | -€534 | -4.2% |
| Plant, machinery and equipment | 23 | €7,683 | €5,383 | -€2,300 | -29.9% |
| Furniture and vehicles | 24 | €34,566 | €27,122 | -€7,445 | -21.5% |
| Other tangible fixed assets | 26 | €2,309 | €1,014 | -€1,295 | -56.1% |
| Financial fixed assets | 28 | €3,952 | €3,966 | +€14 | +0.4% |
| Current assets | 29/58 | €172,566 | €198,160 | +€25,595 | +14.8% |
| Stocks and contracts in progress | 3 | €20,000 | - | -€20,000 | |
| Stocks | 30/36 | €20,000 | - | -€20,000 | |
| Amounts receivable within one year | 40/41 | €37,640 | €20,543 | -€17,097 | -45.4% |
| Trade receivables | 40 | €4,459 | €6,558 | +€2,099 | +47.1% |
| Other amounts receivable | 41 | €33,181 | €13,985 | -€19,196 | -57.9% |
| Cash at bank and in hand | 54/58 | €111,406 | €174,652 | +€63,246 | +56.8% |
| Deferred charges and accrued income | 490/1 | €3,520 | €2,965 | -€555 | -15.8% |
| Total equity and liabilities | 10/49 | €233,877 | €247,913 | +€14,036 | +6.0% |
| Equity | 10/15 | €172,392 | €209,134 | +€36,741 | +21.3% |
| Contributions | 10/11 | €249,511 | €249,511 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | - | €1,859 | +€1,859 | |
| Profit (loss) carried forward | 14 | -€78,978 | -€42,236 | +€36,741 | +46.5% |
| Amounts payable | 17/49 | €61,485 | €38,779 | -€22,705 | -36.9% |
| Amounts payable within one year | 42/48 | €60,635 | €38,779 | -€21,855 | -36.0% |
| Trade debts | 44 | €22,379 | €12,455 | -€9,924 | -44.3% |
| Suppliers | 440/4 | €22,379 | €12,455 | -€9,924 | -44.3% |
| Taxes, remuneration and social security | 45 | €38,256 | €26,324 | -€11,932 | -31.2% |
| Taxes | 450/3 | €14,391 | €10,249 | -€4,143 | -28.8% |
| Remuneration and social security | 454/9 | €23,864 | €16,075 | -€7,789 | -32.6% |
| Accrued charges and deferred income | 492/3 | €850 | - | -€850 | |
| Non-recurring operating income | 76A | - | €16,198 | +€16,198 | |
| Remuneration, social security and pensions | 62 | €172,373 | €195,915 | +€23,543 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,708 | €11,573 | -€7,136 | -38.1% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €236,446 | €275,911 | +€39,465 | +16.7% |
| Operating profit (loss) | 9901 | €44,978 | €68,023 | +€23,046 | +51.2% |
| Financial income | 75/76B | €2,136 | €1,344 | -€792 | -37.1% |
| Recurring financial income | 75 | €2,136 | €1,344 | -€792 | -37.1% |
| Financial charges | 65/66B | €964 | €29,845 | +€28,881 | +2,997% |
| Recurring financial charges | 65 | €964 | €27,041 | +€26,077 | +2,706% |
| Non-recurring financial charges | 66B | - | €2,804 | +€2,804 | |
| Profit (loss) for the period before taxes | 9903 | €46,150 | €39,522 | -€6,628 | -14.4% |
| Income taxes | 67/77 | €237 | €2,780 | +€2,544 | +1,075% |
| Profit (loss) for the period | 9904 | €45,913 | €36,741 | -€9,172 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €45,913 | €36,741 | -€9,172 | -20.0% |
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 30 October 2026 via checked.be.