RHAINOTTE: 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.
RHAINOTTE
Largest movements
- Receivables within one year -€35,895
down €35,895 (-29.8%), from €120,626 to €84,731
of which Other amounts receivable: -€22,226
- Cash +€26,604
up €26,604 (+22.9%), from €116,388 to €142,992
mainly Receivables within one year (+€35,895) and Trade debts (+€34,457)
- Tangible fixed assets +€20,140
up €20,140 (+105%), from €19,124 to €39,264
of which Land and buildings: +€12,536
- Trade debts +€34,457
up €34,457 (+5,939%), from €580 to €35,037
- Reserves -€27,985
down €27,985 (-13.8%), from €202,433 to €174,448
of which Distributable reserves: -€27,985
- Tax, wage and social debts +€8,496
up €8,496 (+65.6%), from €12,955 to €21,450
of which Taxes: +€8,084
- Gross operating margin +€65,082
up €65,082 (+19.4%), from €335,694 to €400,776
- Staff costs +€61,257
up €61,257 (+20.5%), from €299,222 to €360,478
- Taxes +€7,574
new in 2025: €7,574
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 | €283,126 | €295,724 | +€12,598 | +4.4% |
| Fixed assets | 21/28 | €29,822 | €49,962 | +€20,140 | +67.5% |
| Tangible fixed assets | 22/27 | €19,124 | €39,264 | +€20,140 | +105% |
| Land and buildings | 22 | €3,324 | €15,860 | +€12,536 | +377% |
| Plant, machinery and equipment | 23 | €15,801 | €23,405 | +€7,604 | +48.1% |
| Financial fixed assets | 28 | €10,698 | €10,698 | = | 0.0% |
| Current assets | 29/58 | €253,304 | €245,763 | -€7,542 | -3.0% |
| Stocks and contracts in progress | 3 | €5,700 | €6,250 | +€550 | +9.6% |
| Stocks | 30/36 | €5,700 | €6,250 | +€550 | +9.6% |
| Amounts receivable within one year | 40/41 | €120,626 | €84,731 | -€35,895 | -29.8% |
| Trade receivables | 40 | €83,867 | €70,199 | -€13,668 | -16.3% |
| Other amounts receivable | 41 | €36,759 | €14,533 | -€22,226 | -60.5% |
| Cash at bank and in hand | 54/58 | €116,388 | €142,992 | +€26,604 | +22.9% |
| Deferred charges and accrued income | 490/1 | €10,590 | €11,789 | +€1,199 | +11.3% |
| Total equity and liabilities | 10/49 | €283,126 | €295,724 | +€12,598 | +4.4% |
| Equity | 10/15 | €227,222 | €199,237 | -€27,985 | -12.3% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €202,433 | €174,448 | -€27,985 | -13.8% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Tax-exempt reserves | 132 | €36,348 | €36,348 | = | 0.0% |
| Distributable reserves | 133 | €163,606 | €135,621 | -€27,985 | -17.1% |
| Amounts payable | 17/49 | €55,904 | €96,487 | +€40,583 | +72.6% |
| Amounts payable within one year | 42/48 | €55,904 | €96,487 | +€40,583 | +72.6% |
| Trade debts | 44 | €580 | €35,037 | +€34,457 | +5,939% |
| Suppliers | 440/4 | €580 | €35,037 | +€34,457 | +5,939% |
| Taxes, remuneration and social security | 45 | €12,955 | €21,450 | +€8,496 | +65.6% |
| Taxes | 450/3 | - | €8,084 | +€8,084 | |
| Remuneration and social security | 454/9 | €12,955 | €13,366 | +€411 | +3.2% |
| Other amounts payable | 47/48 | €42,369 | €40,000 | -€2,369 | -5.6% |
| Remuneration, social security and pensions | 62 | €299,222 | €360,478 | +€61,257 | +20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,131 | €10,061 | +€1,930 | +23.7% |
| Other operating charges | 640/8 | €10,773 | €10,449 | -€325 | -3.0% |
| Non-recurring operating charges | 66A | €1,983 | - | -€1,983 | |
| Gross operating margin | 9900 | €335,694 | €400,776 | +€65,082 | +19.4% |
| Operating profit (loss) | 9901 | €15,585 | €19,788 | +€4,203 | +27.0% |
| Financial income | 75/76B | €1 | €5 | +€4 | +262% |
| Recurring financial income | 75 | €1 | €5 | +€4 | +262% |
| Financial charges | 65/66B | €870 | €204 | -€666 | -76.5% |
| Recurring financial charges | 65 | €870 | €204 | -€666 | -76.5% |
| Profit (loss) for the period before taxes | 9903 | €14,716 | €19,589 | +€4,872 | +33.1% |
| Income taxes | 67/77 | - | €7,574 | +€7,574 | |
| Profit (loss) for the period | 9904 | €14,716 | €12,015 | -€2,701 | -18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,716 | €12,015 | -€2,701 | -18.4% |
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 20 October 2026 via checked.be.