RETHMANI: 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.
RETHMANI
Largest movements
- Tangible fixed assets +€90,798
up €90,798 (+840.9%), from €10,798 to €101,596
of which Other tangible fixed assets: +€89,160
- Financial fixed assets -€14,859
down €14,859 (-47.2%), from €31,461 to €16,602
- Cash -€7,203
down €7,203 (-44.4%), from €16,239 to €9,036
mainly Investment in fixed assets (net) (-€96,209) and Net result for the year (-€77,995)
- Stocks and contracts -€2,512
down €2,512 (-4.6%), from €54,779 to €52,267
- Receivables within one year -€1,946
down €1,946 (-13.2%), from €14,753 to €12,807
of which Trade receivables: -€2,084
- Other debts +€111,956
up €111,956 (+458.6%), from €24,410 to €136,366
- Profit (loss) carried forward -€77,995
down €77,995 (-119.2%), from -€65,405 to -€143,400
- Trade debts +€19,696
up €19,696 (+46.8%), from €42,059 to €61,755
- Tax, wage and social debts +€10,621
up €10,621 (+63.7%), from €16,670 to €27,291
of which Remuneration and social security: +€9,633
- Gross operating margin -€35,084
down €35,084, from €3,535 to -€31,549
- Staff costs +€18,227
up €18,227 (+332.5%), from €5,481 to €23,708
- Depreciation +€8,491
up €8,491 (+72.1%), from €11,779 to €20,270
- Financial charges +€874
up €874 (+83.2%), from €1,051 to €1,925
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 | €128,734 | €193,012 | +€64,278 | +49.9% |
| Fixed assets | 21/28 | €42,259 | €118,198 | +€75,939 | +179.7% |
| Tangible fixed assets | 22/27 | €10,798 | €101,596 | +€90,798 | +840.9% |
| Plant, machinery and equipment | 23 | €10,798 | €9,321 | -€1,477 | -13.7% |
| Furniture and vehicles | 24 | - | €3,115 | +€3,115 | |
| Other tangible fixed assets | 26 | - | €89,160 | +€89,160 | |
| Financial fixed assets | 28 | €31,461 | €16,602 | -€14,859 | -47.2% |
| Current assets | 29/58 | €86,475 | €74,814 | -€11,661 | -13.5% |
| Stocks and contracts in progress | 3 | €54,779 | €52,267 | -€2,512 | -4.6% |
| Stocks | 30/36 | €54,779 | €52,267 | -€2,512 | -4.6% |
| Amounts receivable within one year | 40/41 | €14,753 | €12,807 | -€1,946 | -13.2% |
| Trade receivables | 40 | €14,753 | €12,669 | -€2,084 | -14.1% |
| Other amounts receivable | 41 | - | €138 | +€138 | |
| Cash at bank and in hand | 54/58 | €16,239 | €9,036 | -€7,203 | -44.4% |
| Deferred charges and accrued income | 490/1 | €704 | €704 | = | 0.0% |
| Total equity and liabilities | 10/49 | €128,734 | €193,012 | +€64,278 | +49.9% |
| Equity | 10/15 | €45,595 | -€32,400 | -€77,995 | |
| Contributions | 10/11 | €111,000 | €111,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€65,405 | -€143,400 | -€77,995 | -119.2% |
| Amounts payable | 17/49 | €83,139 | €225,412 | +€142,273 | +171.1% |
| Amounts payable within one year | 42/48 | €83,139 | €225,412 | +€142,273 | +171.1% |
| Trade debts | 44 | €42,059 | €61,755 | +€19,696 | +46.8% |
| Suppliers | 440/4 | €42,059 | €61,755 | +€19,696 | +46.8% |
| Taxes, remuneration and social security | 45 | €16,670 | €27,291 | +€10,621 | +63.7% |
| Taxes | 450/3 | €11,832 | €12,820 | +€988 | +8.4% |
| Remuneration and social security | 454/9 | €4,838 | €14,471 | +€9,633 | +199.1% |
| Other amounts payable | 47/48 | €24,410 | €136,366 | +€111,956 | +458.6% |
| Remuneration, social security and pensions | 62 | €5,481 | €23,708 | +€18,227 | +332.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,779 | €20,270 | +€8,491 | +72.1% |
| Other operating charges | 640/8 | €258 | €560 | +€302 | +117.1% |
| Gross operating margin | 9900 | €3,535 | -€31,549 | -€35,084 | |
| Operating profit (loss) | 9901 | -€13,983 | -€76,087 | -€62,104 | -444.1% |
| Financial income | 75/76B | €378 | €211 | -€167 | -44.2% |
| Recurring financial income | 75 | €378 | €211 | -€167 | -44.2% |
| Financial charges | 65/66B | €1,051 | €1,925 | +€874 | +83.2% |
| Recurring financial charges | 65 | €1,051 | €1,925 | +€874 | +83.2% |
| Profit (loss) for the period before taxes | 9903 | -€14,656 | -€77,801 | -€63,145 | -430.8% |
| Income taxes | 67/77 | €161 | €194 | +€33 | +20.5% |
| Profit (loss) for the period | 9904 | -€14,817 | -€77,995 | -€63,178 | -426.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,817 | -€77,995 | -€63,178 | -426.4% |
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 8 October 2026 via checked.be.