RHEASTONE 9: 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.
RHEASTONE 9
Largest movements
- Tangible fixed assets +€1.7m
up €1.7m (+76.6%), from €2.2m to €3.9m
of which Land and buildings: +€2.2m
- Debts after one year +€1.7m
up €1.7m (+441%), from €384,576 to €2.1m
No income-statement line moved by more than 1% of the activity.
From the 2020 result to the 2021 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,206,904 | €3,889,426 | +€1.7m | +76.2% |
| Fixed assets | 21/28 | €2,200,000 | €3,884,414 | +€1.7m | +76.6% |
| Tangible fixed assets | 22/27 | €2,200,000 | €3,884,414 | +€1.7m | +76.6% |
| Land and buildings | 22 | - | €2,225,393 | +€2.2m | |
| Assets under construction and advance payments | 27 | - | €1,659,021 | +€1.7m | |
| Current assets | 29/58 | €6,904 | €5,011 | -€1,892 | -27.4% |
| Amounts receivable within one year | 40/41 | €196 | - | -€196 | |
| Cash at bank and in hand | 54/58 | €6,349 | €5,011 | -€1,338 | -21.1% |
| Total equity and liabilities | 10/49 | €2,206,904 | €3,889,426 | +€1.7m | +76.2% |
| Equity | 10/15 | €275,878 | €247,270 | -€28,608 | -10.4% |
| Contributions | 10/11 | - | €440,000 | +€440,000 | |
| Profit (loss) carried forward | 14 | -€164,122 | -€192,730 | -€28,608 | -17.4% |
| Amounts payable | 17/49 | €1,931,026 | €3,642,156 | +€1.7m | +88.6% |
| Amounts payable after more than one year | 17 | €384,576 | €2,079,067 | +€1.7m | +441% |
| Financial debts | 170/4 | - | €2,079,067 | +€2.1m | |
| Subordinated loans | 170 | - | €1,645,000 | +€1.6m | |
| Other loans | 174 | - | €434,067 | +€434,067 | |
| Amounts payable within one year | 42/48 | €1,545,808 | €1,545,836 | +€28 | 0.0% |
| Financial debts | 43 | - | €1,540,000 | +€1.5m | |
| Credit institutions | 430/8 | - | €1,540,000 | +€1.5m | |
| Trade debts | 44 | €5,808 | €5,836 | +€28 | +0.5% |
| Suppliers | 440/4 | - | €5,836 | +€5,836 | |
| Accrued charges and deferred income | 492/3 | - | €17,253 | +€17,253 | |
| Operating charges | 60/66A | - | €16,483 | +€16,483 | |
| Services and other goods | 61 | - | €14,389 | +€14,389 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €478 | - | -€478 | |
| Other operating charges | 640/8 | - | €2,094 | +€2,094 | |
| Operating profit (loss) | 9901 | -€10,054 | -€16,483 | -€6,429 | -63.9% |
| Financial charges | 65/66B | - | €12,124 | +€12,124 | |
| Recurring financial charges | 65 | €58,583 | €12,124 | -€46,459 | -79.3% |
| Debt charges | 650 | €57,708 | €8,013 | -€49,695 | -86.1% |
| Other financial charges | 652/9 | - | €4,112 | +€4,112 | |
| Profit (loss) for the period before taxes | 9903 | -€68,638 | -€28,608 | +€40,030 | +58.3% |
| Profit (loss) for the period | 9904 | -€68,638 | -€28,608 | +€40,030 | +58.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€68,638 | -€28,608 | +€40,030 | +58.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.