Rheos: what changed
Rheos
Largest movements
- Cash +€78,287
up €78,287 (+179%), from €43,825 to €122,112
mainly Net result for the year (+€63,121) and Tax, wage and social debts (+€16,302)
- Receivables within one year +€2,141
up €2,141 (+20.7%), from €10,354 to €12,495
of which Trade receivables: +€2,560
- Reserves +€63,121
up €63,121 (+150%), from €42,056 to €105,178
- Tax, wage and social debts +€16,302
up €16,302 (+152%), from €10,713 to €27,016
- Gross operating margin +€27,045
up €27,045 (+50.8%), from €53,241 to €80,286
- Taxes +€5,589
up €5,589 (+52.2%), from €10,713 to €16,302
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €56,908 | €136,514 | +€79,606 | +140% |
| Fixed assets | 21/28 | €2,073 | €1,251 | -€822 | -39.6% |
| Tangible fixed assets | 22/27 | €2,073 | €1,251 | -€822 | -39.6% |
| Plant, machinery and equipment | 23 | €2,073 | €1,251 | -€822 | -39.6% |
| Current assets | 29/58 | €54,835 | €135,263 | +€80,428 | +147% |
| Amounts receivable within one year | 40/41 | €10,354 | €12,495 | +€2,141 | +20.7% |
| Trade receivables | 40 | €9,600 | €12,160 | +€2,560 | +26.7% |
| Other amounts receivable | 41 | €754 | €335 | -€419 | -55.6% |
| Cash at bank and in hand | 54/58 | €43,825 | €122,112 | +€78,287 | +179% |
| Deferred charges and accrued income | 490/1 | €656 | €656 | = | 0.0% |
| Total equity and liabilities | 10/49 | €56,908 | €136,514 | +€79,606 | +140% |
| Equity | 10/15 | €44,556 | €107,678 | +€63,121 | +142% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €42,056 | €105,178 | +€63,121 | +150% |
| Distributable reserves | 133 | €42,056 | €105,178 | +€63,121 | +150% |
| Amounts payable | 17/49 | €12,352 | €28,836 | +€16,485 | +133% |
| Amounts payable within one year | 42/48 | €12,352 | €28,836 | +€16,485 | +133% |
| Trade debts | 44 | €1,638 | €1,821 | +€182 | +11.1% |
| Suppliers | 440/4 | €1,638 | €1,821 | +€182 | +11.1% |
| Taxes, remuneration and social security | 45 | €10,713 | €27,016 | +€16,302 | +152% |
| Taxes | 450/3 | €10,713 | €27,016 | +€16,302 | +152% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €392 | €822 | +€430 | +110% |
| Other operating charges | 640/8 | €50 | €0 | -€50 | -100% |
| Gross operating margin | 9900 | €53,241 | €80,286 | +€27,045 | +50.8% |
| Operating profit (loss) | 9901 | €52,800 | €79,464 | +€26,665 | +50.5% |
| Financial charges | 65/66B | €30 | €40 | +€10 | +34.6% |
| Recurring financial charges | 65 | €30 | €40 | +€10 | +34.6% |
| Profit (loss) for the period before taxes | 9903 | €52,770 | €79,424 | +€26,654 | +50.5% |
| Income taxes | 67/77 | €10,713 | €16,302 | +€5,589 | +52.2% |
| Profit (loss) for the period | 9904 | €42,056 | €63,121 | +€21,065 | +50.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,056 | €63,121 | +€21,065 | +50.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.