RHEA: 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.
RHEA
Largest movements
- Cash -€8,606
down €8,606 (-65.8%), from €13,078 to €4,472
mainly Net result for the year (-€14,445) and Accrued charges and deferred income (-€475)
- Receivables within one year -€3,551
down €3,551 (-17.0%), from €20,829 to €17,278
of which Trade receivables: -€2,010
- Tangible fixed assets -€1,991
down €1,991 (-30.2%), from €6,601 to €4,611
of which Plant, machinery and equipment: -€1,741
- Deferred charges and accrued income -€524
down €524 (-37.8%), from €1,387 to €863
- Profit (loss) carried forward -€14,445
down €14,445 (-68.1%), from -€21,214 to -€35,659
- Other debts +€871
up €871 (+7.4%), from €11,781 to €12,652
- Accrued charges and deferred income -€475
no longer reported in 2025 (was €475)
- Gross operating margin -€12,352
down €12,352, from €7,243 to -€5,108
- Other operating charges +€7,433
up €7,433 (+702%), from €1,058 to €8,491
- Write-downs -€5,064
new in 2025: -€5,064
- Taxes -€348
down €348 (-9.9%), from €3,533 to €3,185
- Financial income +€123
up €123 (+279%), from €44 to €167
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 | €41,895 | €27,224 | -€14,671 | -35.0% |
| Fixed assets | 21/28 | €6,601 | €4,611 | -€1,991 | -30.2% |
| Tangible fixed assets | 22/27 | €6,601 | €4,611 | -€1,991 | -30.2% |
| Plant, machinery and equipment | 23 | €6,157 | €4,415 | -€1,741 | -28.3% |
| Furniture and vehicles | 24 | €445 | €196 | -€249 | -56.0% |
| Current assets | 29/58 | €35,293 | €22,613 | -€12,680 | -35.9% |
| Amounts receivable within one year | 40/41 | €20,829 | €17,278 | -€3,551 | -17.0% |
| Trade receivables | 40 | €17,914 | €15,904 | -€2,010 | -11.2% |
| Other amounts receivable | 41 | €2,914 | €1,374 | -€1,541 | -52.9% |
| Cash at bank and in hand | 54/58 | €13,078 | €4,472 | -€8,606 | -65.8% |
| Deferred charges and accrued income | 490/1 | €1,387 | €863 | -€524 | -37.8% |
| Total equity and liabilities | 10/49 | €41,895 | €27,224 | -€14,671 | -35.0% |
| Equity | 10/15 | €20,553 | €6,108 | -€14,445 | -70.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €23,175 | €23,175 | = | 0.0% |
| Distributable reserves | 133 | €23,175 | €23,175 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,214 | -€35,659 | -€14,445 | -68.1% |
| Amounts payable | 17/49 | €21,341 | €21,116 | -€226 | -1.1% |
| Amounts payable within one year | 42/48 | €20,867 | €21,116 | +€249 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €4,000 | €4,000 | = | 0.0% |
| Trade debts | 44 | €850 | €580 | -€269 | -31.7% |
| Suppliers | 440/4 | €850 | €580 | -€269 | -31.7% |
| Taxes, remuneration and social security | 45 | €4,235 | €3,883 | -€352 | -8.3% |
| Taxes | 450/3 | €4,235 | €3,883 | -€352 | -8.3% |
| Other amounts payable | 47/48 | €11,781 | €12,652 | +€871 | +7.4% |
| Accrued charges and deferred income | 492/3 | €475 | - | -€475 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,003 | €1,991 | -€12 | -0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€5,064 | -€5,064 | |
| Other operating charges | 640/8 | €1,058 | €8,491 | +€7,433 | +702% |
| Non-recurring operating charges | 66A | €126 | €331 | +€204 | +162% |
| Gross operating margin | 9900 | €7,243 | -€5,108 | -€12,352 | |
| Operating profit (loss) | 9901 | €4,056 | -€10,857 | -€14,913 | |
| Financial income | 75/76B | €44 | €167 | +€123 | +279% |
| Recurring financial income | 75 | €44 | €167 | +€123 | +279% |
| Financial charges | 65/66B | €691 | €571 | -€120 | -17.4% |
| Recurring financial charges | 65 | €691 | €571 | -€120 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €3,409 | -€11,260 | -€14,669 | |
| Income taxes | 67/77 | €3,533 | €3,185 | -€348 | -9.9% |
| Profit (loss) for the period | 9904 | -€124 | -€14,445 | -€14,321 | -11,541% |
| Profit (loss) for the period to be appropriated | 9905 | -€124 | -€14,445 | -€14,321 | -11,541% |
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 26 October 2026 via checked.be.