RHEA SYSTEM: 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.
What changed
RHEA SYSTEM
NACE 62.100, Computer programming
financial year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€220,149
2023 · €1.6m-€1.8m
Equity
€1.1m
2023 · €5.9m-€4.8m
Cash
€49,873
2023 · €1.9m-€1.8m
Balance sheet total
€28.9m
2023 · €64.0m-€35.1m
Largest movements
Assets
- Receivables within one year -€12.9m
down €12.9m (-31.3%), from €41.1m to €28.3m
of which Other amounts receivable: -€19.4m
- Financial fixed assets -€9.8m
down €9.8m (-99.8%), from €9.8m to €24,500
of which Affiliated companies: -€9.8m
- Stocks and contracts -€6.4m
down €6.4m (-93.7%), from €6.8m to €426,719
- Intangible fixed assets -€2.7m
no longer reported in 2024 (was €2.7m)
- Cash -€1.8m
down €1.8m (-97.3%), from €1.9m to €49,873
mainly Debts after one year (-€16.3m) and Other debts (-€15.4m)
Equity and liabilities
- Debts after one year -€16.3m
no longer reported in 2024 (was €16.3m)
of which Other amounts payable: -€15.9m
- Other debts -€15.4m
down €15.4m (-70.3%), from €22.0m to €6.5m
- Trade debts +€9.0m
up €9.0m (+74.1%), from €12.2m to €21.2m
- Profit (loss) carried forward -€4.3m
down €4.3m (-81.4%), from €5.3m to €984,704
- Tax, wage and social debts -€3.4m
down €3.4m (-98.6%), from €3.5m to €48,515
of which Remuneration and social security: -€3.1m
Income statement
- Turnover -€41.5m
down €41.5m (-83.9%), from €49.5m to €7.9m
- Services and other goods -€19.5m
down €19.5m (-69.1%), from €28.3m to €8.7m
- Staff costs -€16.9m
down €16.9m (-85.4%), from €19.8m to €2.9m
- Other operating income +€10.4m
up €10.4m (+8027.2%), from €129,570 to €10.5m
- Other operating charges +€7.0m
up €7.0m (+18060.6%), from €39,004 to €7.1m
From the 2023 result to the 2024 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.
Result 2023
€1.6m
Turnover
-€41.5m
Other operating income
+€10.4m
Services and other goods
+€19.5m
Staff costs
+€16.9m
Depreciation
+€905,329
Other operating charges
-€7.0m
Other operating items
+€1.2m
Financial income
-€2.6m
Financial charges
+€321,632
Taxes
+€115,204
Result 2024
-€220,149
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€8.3m
Investment
+€13.3m
Financing
-€23.4m
Cash 2023
€1.9m
From operations (derived)
+€8.3m
Net result for the year
-€220,149
Receivables after one year
+€47,546
Stocks and contracts
+€6.4m
Receivables within one year
+€12.9m
Deferred charges and accrued income
+€638,070
Trade debts
+€9.0m
Tax, wage and social debts
-€3.4m
Advances received
-€1.6m
Other debts
-€15.4m
Accrued charges and deferred income
-€6,808
Investment (derived)
+€13.3m
Investment in fixed assets (net)
+€13.3m
Financing
-€23.4m
Debts after one year
-€16.3m
Short-term financial debts
-€2.6m
Contributions, distributions and other
-€4.5m
Cash 2024
€49,873
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €63,988,114 | €28,922,202 | -€35.1m | -54.8% |
| Fixed assets | 21/28 | €13,338,394 | €24,500 | -€13.3m | -99.8% |
| Intangible fixed assets | 21 | €2,738,784 | - | -€2.7m | |
| Tangible fixed assets | 22/27 | €787,938 | - | -€787,938 | |
| Furniture and vehicles | 24 | €138,673 | - | -€138,673 | |
| Leasing and similar rights | 25 | €127,424 | - | -€127,424 | |
| Other tangible fixed assets | 26 | €37,644 | - | -€37,644 | |
| Assets under construction and advance payments | 27 | €484,197 | - | -€484,197 | |
| Financial fixed assets | 28 | €9,811,672 | €24,500 | -€9.8m | -99.8% |
| Affiliated companies | 280/1 | €9,781,180 | €24,500 | -€9.8m | -99.7% |
| Participating interests | 280 | €2,054,699 | €24,500 | -€2.0m | -98.8% |
| Amounts receivable | 281 | €7,726,481 | - | -€7.7m | |
| Companies linked by participating interests | 282/3 | €15,374 | - | -€15,374 | |
| Participating interests | 282 | €15,374 | - | -€15,374 | |
| Other financial fixed assets | 284/8 | €15,118 | - | -€15,118 | |
| Amounts receivable and cash guarantees | 285/8 | €15,118 | - | -€15,118 | |
| Current assets | 29/58 | €50,649,720 | €28,897,702 | -€21.8m | -42.9% |
| Amounts receivable after more than one year | 29 | €47,546 | - | -€47,546 | |
| Other amounts receivable | 291 | €47,546 | - | -€47,546 | |
| Stocks and contracts in progress | 3 | €6,788,045 | €426,719 | -€6.4m | -93.7% |
| Contracts in progress | 37 | €6,788,045 | €426,719 | -€6.4m | -93.7% |
| Amounts receivable within one year | 40/41 | €41,137,977 | €28,254,490 | -€12.9m | -31.3% |
| Trade receivables | 40 | €14,133,851 | €20,622,351 | +€6.5m | +45.9% |
| Other amounts receivable | 41 | €27,004,126 | €7,632,139 | -€19.4m | -71.7% |
| Current investments | 50/53 | €50 | €50 | = | 0.0% |
| Other investments | 51/53 | €50 | €50 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,871,462 | €49,873 | -€1.8m | -97.3% |
| Deferred charges and accrued income | 490/1 | €804,640 | €166,570 | -€638,070 | -79.3% |
| Total equity and liabilities | 10/49 | €63,988,114 | €28,922,202 | -€35.1m | -54.8% |
| Equity | 10/15 | €5,880,333 | €1,120,695 | -€4.8m | -80.9% |
| Contributions | 10/11 | €524,000 | €119,483 | -€404,517 | -77.2% |
| Capital | 10 | €524,000 | €119,483 | -€404,517 | -77.2% |
| Issued capital | 100 | €524,000 | €119,483 | -€404,517 | -77.2% |
| Reserves | 13 | €72,400 | €16,508 | -€55,892 | -77.2% |
| Non-distributable reserves | 130/1 | €52,400 | €11,947 | -€40,453 | -77.2% |
| Legal reserve | 130 | €52,400 | €11,947 | -€40,453 | -77.2% |
| Distributable reserves | 133 | €20,000 | €4,561 | -€15,439 | -77.2% |
| Profit (loss) carried forward | 14 | €5,283,933 | €984,704 | -€4.3m | -81.4% |
| Amounts payable | 17/49 | €58,107,781 | €27,801,507 | -€30.3m | -52.2% |
| Amounts payable after more than one year | 17 | €16,253,865 | - | -€16.3m | |
| Financial debts | 170/4 | €306,316 | - | -€306,316 | |
| Leasing and similar obligations | 172 | €134,789 | - | -€134,789 | |
| Other loans | 174 | €171,527 | - | -€171,527 | |
| Other amounts payable | 178/9 | €15,947,549 | - | -€15.9m | |
| Amounts payable within one year | 42/48 | €41,847,108 | €27,801,507 | -€14.0m | -33.6% |
| Financial debts | 43 | €2,645,146 | - | -€2.6m | |
| Other loans | 439 | €2,645,146 | - | -€2.6m | |
| Trade debts | 44 | €12,202,452 | €21,242,007 | +€9.0m | +74.1% |
| Suppliers | 440/4 | €12,202,452 | €21,242,007 | +€9.0m | +74.1% |
| Advances received on contracts in progress | 46 | €1,575,582 | - | -€1.6m | |
| Taxes, remuneration and social security | 45 | €3,465,420 | €48,515 | -€3.4m | -98.6% |
| Taxes | 450/3 | €368,429 | €25,622 | -€342,807 | -93.0% |
| Remuneration and social security | 454/9 | €3,096,991 | €22,893 | -€3.1m | -99.3% |
| Other amounts payable | 47/48 | €21,958,508 | €6,510,985 | -€15.4m | -70.3% |
| Accrued charges and deferred income | 492/3 | €6,808 | - | -€6,808 | |
| Operating income | 70/76A | €48,423,445 | €20,437,780 | -€28.0m | -57.8% |
| Turnover | 70 | €49,482,906 | €7,942,370 | -€41.5m | -83.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€2,125,742 | - | +€2.1m | |
| Own construction capitalised | 72 | €936,711 | - | -€936,711 | |
| Other operating income | 74 | €129,570 | €10,530,410 | +€10.4m | +8027.2% |
| Non-recurring operating income | 76A | - | €1,965,000 | +€2.0m | |
| Operating charges | 60/66A | €49,021,581 | €20,662,174 | -€28.4m | -57.9% |
| Services and other goods | 61 | €28,271,238 | €8,725,305 | -€19.5m | -69.1% |
| Remuneration, social security and pensions | 62 | €19,806,010 | €2,888,493 | -€16.9m | -85.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €905,329 | - | -€905,329 | |
| Other operating charges | 640/8 | €39,004 | €7,083,376 | +€7.0m | +18060.6% |
| Non-recurring operating charges | 66A | - | €1,965,000 | +€2.0m | |
| Operating profit (loss) | 9901 | -€598,136 | -€224,394 | +€373,742 | +62.5% |
| Recurring financial income | 75 | €2,606,909 | €4,252 | -€2.6m | -99.8% |
| Income from financial fixed assets | 750 | €2,537,510 | - | -€2.5m | |
| Other financial income | 752/9 | €69,399 | €4,252 | -€65,147 | -93.9% |
| Financial charges | 65/66B | €321,639 | €7 | -€321,632 | -100.0% |
| Recurring financial charges | 65 | €321,639 | €7 | -€321,632 | -100.0% |
| Debt charges | 650 | €224,267 | - | -€224,267 | |
| Other financial charges | 652/9 | €97,372 | €7 | -€97,365 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €1,687,134 | -€220,149 | -€1.9m | |
| Income taxes | 67/77 | €115,204 | - | -€115,204 | |
| Taxes | 670/3 | €115,204 | - | -€115,204 | |
| Profit (loss) for the period | 9904 | €1,571,930 | -€220,149 | -€1.8m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,571,930 | -€220,149 | -€1.8m |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.