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
- Receivables within one year -€30,334
down €30,334 (-98.1%), from €30,937 to €603
of which Trade receivables: -€29,696
- Current investments -€20,000
down €20,000 (-16.0%), from €125,000 to €105,000
- Cash -€18,973
down €18,973 (-58.6%), from €32,379 to €13,406
mainly Other debts (-€37,447) and Accrued charges and deferred income (-€19,682)
- Tangible fixed assets -€14,187
down €14,187 (-2.4%), from €592,065 to €577,877
of which Land and buildings: -€11,224
- Other debts -€37,447
down €37,447 (-54.2%), from €69,072 to €31,626
- Accrued charges and deferred income -€19,682
down €19,682 (-100.0%), from €19,682 to €0
- Debts after one year -€12,000
down €12,000 (-17.4%), from €69,000 to €57,000
- Other operating charges -€19,065
down €19,065 (-66.9%), from €28,491 to €9,425
- Gross operating margin +€17,613
up €17,613 (+444.4%), from €3,963 to €21,576
- Financial income -€2,415
down €2,415 (-54.5%), from €4,434 to €2,019
- Financial charges -€334
down €334 (-24.7%), from €1,356 to €1,022
- Depreciation -€289
down €289 (-1.4%), from €20,047 to €19,758
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 | €930,282 | €848,154 | -€82,128 | -8.8% |
| Fixed assets | 21/28 | €741,775 | €727,588 | -€14,187 | -1.9% |
| Intangible fixed assets | 21 | €149,711 | €149,711 | = | 0.0% |
| Tangible fixed assets | 22/27 | €592,065 | €577,877 | -€14,187 | -2.4% |
| Land and buildings | 22 | €560,074 | €548,850 | -€11,224 | -2.0% |
| Furniture and vehicles | 24 | €12,790 | €8,227 | -€4,563 | -35.7% |
| Other tangible fixed assets | 26 | €19,200 | €20,800 | +€1,600 | +8.3% |
| Current assets | 29/58 | €188,507 | €120,567 | -€67,940 | -36.0% |
| Amounts receivable within one year | 40/41 | €30,937 | €603 | -€30,334 | -98.1% |
| Trade receivables | 40 | €29,696 | €0 | -€29,696 | -100.0% |
| Other amounts receivable | 41 | €1,241 | €603 | -€638 | -51.4% |
| Current investments | 50/53 | €125,000 | €105,000 | -€20,000 | -16.0% |
| Cash at bank and in hand | 54/58 | €32,379 | €13,406 | -€18,973 | -58.6% |
| Deferred charges and accrued income | 490/1 | €190 | €1,558 | +€1,368 | +718.7% |
| Total equity and liabilities | 10/49 | €930,282 | €848,154 | -€82,128 | -8.8% |
| Equity | 10/15 | €645,457 | €639,156 | -€6,301 | -1.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €583,457 | €577,156 | -€6,301 | -1.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,068 | €35,833 | -€1,236 | -3.3% |
| Distributable reserves | 133 | €540,189 | €535,123 | -€5,066 | -0.9% |
| Provisions and deferred taxes | 16 | €106,631 | €106,323 | -€309 | -0.3% |
| Provisions for liabilities and charges | 160/5 | €97,364 | €97,364 | = | 0.0% |
| Pensions and similar obligations | 160 | €97,364 | €97,364 | = | 0.0% |
| Deferred taxes | 168 | €9,267 | €8,958 | -€309 | -3.3% |
| Amounts payable | 17/49 | €178,193 | €102,676 | -€75,517 | -42.4% |
| Amounts payable after more than one year | 17 | €69,000 | €57,000 | -€12,000 | -17.4% |
| Financial debts | 170/4 | €69,000 | €57,000 | -€12,000 | -17.4% |
| Amounts payable within one year | 42/48 | €89,511 | €45,676 | -€43,835 | -49.0% |
| Current portion of amounts payable after more than one year | 42 | €12,000 | €12,000 | = | 0.0% |
| Trade debts | 44 | €6,398 | €2,050 | -€4,348 | -68.0% |
| Suppliers | 440/4 | €6,398 | €2,050 | -€4,348 | -68.0% |
| Advances received on contracts in progress | 46 | €2,022 | €0 | -€2,022 | -100.0% |
| Taxes, remuneration and social security | 45 | €18 | €0 | -€18 | -100.0% |
| Taxes | 450/3 | €18 | €0 | -€18 | -100.0% |
| Other amounts payable | 47/48 | €69,072 | €31,626 | -€37,447 | -54.2% |
| Accrued charges and deferred income | 492/3 | €19,682 | €0 | -€19,682 | -100.0% |
| Non-recurring operating income | 76A | €7,400 | €0 | -€7,400 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,047 | €19,758 | -€289 | -1.4% |
| Other operating charges | 640/8 | €28,491 | €9,425 | -€19,065 | -66.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €3,963 | €21,576 | +€17,613 | +444.4% |
| Operating profit (loss) | 9901 | -€44,575 | -€7,608 | +€36,967 | +82.9% |
| Financial income | 75/76B | €4,434 | €2,019 | -€2,415 | -54.5% |
| Recurring financial income | 75 | €4,434 | €2,019 | -€2,415 | -54.5% |
| Financial charges | 65/66B | €1,356 | €1,022 | -€334 | -24.7% |
| Recurring financial charges | 65 | €1,356 | €1,022 | -€334 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | -€41,497 | -€6,610 | +€34,887 | +84.1% |
| Transfer from deferred taxes | 780 | €309 | €309 | = | 0.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€41,188 | -€6,301 | +€34,887 | +84.7% |
| Transfer from tax-exempt reserves | 789 | €1,236 | €1,236 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,953 | -€5,066 | +€34,887 | +87.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.