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 +€176,856
up €176,856 (+239%), from €74,011 to €250,867
mainly Other debts (+€219,287) and Net result for the year (+€146,600)
- Receivables within one year +€161,044
up €161,044 (+25.7%), from €627,494 to €788,538
of which Other amounts receivable: +€146,861
- Other debts +€219,287
new in 2025: €219,287
- Reserves +€146,600
up €146,600 (+4.7%), from €3.1m to €3.2m
of which Distributable reserves: +€146,600
- Financial income -€100,021
down €100,021 (-50.0%), from €200,021 to €100,000
- Gross operating margin +€21,321
up €21,321 (+24.7%), from €86,210 to €107,531
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 | €4,801,817 | €5,148,553 | +€346,736 | +7.2% |
| Fixed assets | 21/28 | €4,100,218 | €4,109,031 | +€8,813 | +0.2% |
| Tangible fixed assets | 22/27 | €481,623 | €490,436 | +€8,813 | +1.8% |
| Land and buildings | 22 | €464,616 | €451,869 | -€12,748 | -2.7% |
| Plant, machinery and equipment | 23 | €13,818 | €12,366 | -€1,452 | -10.5% |
| Furniture and vehicles | 24 | €3,189 | €26,201 | +€23,012 | +722% |
| Financial fixed assets | 28 | €3,618,596 | €3,618,596 | = | 0.0% |
| Current assets | 29/58 | €701,599 | €1,039,522 | +€337,923 | +48.2% |
| Amounts receivable within one year | 40/41 | €627,494 | €788,538 | +€161,044 | +25.7% |
| Trade receivables | 40 | €3,519 | €17,702 | +€14,183 | +403% |
| Other amounts receivable | 41 | €623,975 | €770,836 | +€146,861 | +23.5% |
| Cash at bank and in hand | 54/58 | €74,011 | €250,867 | +€176,856 | +239% |
| Deferred charges and accrued income | 490/1 | €94 | €117 | +€23 | +24.5% |
| Total equity and liabilities | 10/49 | €4,801,817 | €5,148,553 | +€346,736 | +7.2% |
| Equity | 10/15 | €4,748,817 | €4,895,416 | +€146,600 | +3.1% |
| Contributions | 10/11 | €375,007 | €375,007 | = | 0.0% |
| Reserves | 13 | €3,102,321 | €3,248,920 | +€146,600 | +4.7% |
| Non-distributable reserves | 130/1 | €35,513 | €35,513 | = | 0.0% |
| Reserves not available under the articles | 1311 | €35,513 | €35,513 | = | 0.0% |
| Distributable reserves | 133 | €3,066,808 | €3,213,408 | +€146,600 | +4.8% |
| Profit (loss) carried forward | 14 | €1,271,489 | €1,271,489 | = | 0.0% |
| Amounts payable | 17/49 | €53,000 | €253,136 | +€200,136 | +378% |
| Amounts payable within one year | 42/48 | €48,622 | €249,734 | +€201,112 | +414% |
| Trade debts | 44 | €120 | €144 | +€24 | +20.3% |
| Suppliers | 440/4 | €120 | €144 | +€24 | +20.3% |
| Advances received on contracts in progress | 46 | €2,000 | €2,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €46,502 | €28,303 | -€18,200 | -39.1% |
| Taxes | 450/3 | €46,502 | €28,303 | -€18,200 | -39.1% |
| Other amounts payable | 47/48 | - | €219,287 | +€219,287 | |
| Accrued charges and deferred income | 492/3 | €4,378 | €3,402 | -€975 | -22.3% |
| Non-recurring operating income | 76A | - | €613 | +€613 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,813 | €20,750 | -€64 | -0.3% |
| Other operating charges | 640/8 | €3,994 | €4,365 | +€371 | +9.3% |
| Gross operating margin | 9900 | €86,210 | €107,531 | +€21,321 | +24.7% |
| Operating profit (loss) | 9901 | €61,403 | €82,416 | +€21,013 | +34.2% |
| Financial income | 75/76B | €200,021 | €100,000 | -€100,021 | -50.0% |
| Recurring financial income | 75 | €200,021 | €100,000 | -€100,021 | -50.0% |
| Financial charges | 65/66B | €257 | €348 | +€91 | +35.4% |
| Recurring financial charges | 65 | €257 | €348 | +€91 | +35.4% |
| Profit (loss) for the period before taxes | 9903 | €261,167 | €182,068 | -€79,099 | -30.3% |
| Income taxes | 67/77 | €35,325 | €35,469 | +€144 | +0.4% |
| Profit (loss) for the period | 9904 | €225,843 | €146,600 | -€79,243 | -35.1% |
| Profit (loss) for the period to be appropriated | 9905 | €225,843 | €146,600 | -€79,243 | -35.1% |
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 24 October 2026 via checked.be.