Rhésus: 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.
Rhésus
Largest movements
- Receivables within one year +€107,974
up €107,974 (+303%), from €35,636 to €143,610
of which Trade receivables: +€84,604
- Cash +€13,445
up €13,445 (+72.1%), from €18,651 to €32,095
mainly Net result for the year (+€87,497) and Tax, wage and social debts (+€32,657)
- Tangible fixed assets -€7,270
down €7,270 (-22.2%), from €32,715 to €25,445
- Reserves +€87,497
up €87,497 (+48.1%), from €181,993 to €269,490
of which Distributable reserves: +€87,497
- Tax, wage and social debts +€32,657
up €32,657 (+111%), from €29,444 to €62,101
- Debts after one year -€7,819
down €7,819 (-27.6%), from €28,317 to €20,498
- Gross operating margin +€111,781
up €111,781 (+328%), from €34,044 to €145,825
- Taxes +€34,432
up €34,432 (+324%), from €10,636 to €45,068
- Depreciation +€3,442
up €3,442 (+89.9%), from €3,828 to €7,270
- Other operating charges +€2,002
up €2,002 (+521%), from €384 to €2,386
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 | €255,075 | €369,290 | +€114,216 | +44.8% |
| Fixed assets | 21/28 | €32,765 | €25,495 | -€7,270 | -22.2% |
| Tangible fixed assets | 22/27 | €32,715 | €25,445 | -€7,270 | -22.2% |
| Furniture and vehicles | 24 | €32,715 | €25,445 | -€7,270 | -22.2% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €222,310 | €343,796 | +€121,486 | +54.6% |
| Amounts receivable after more than one year | 29 | €132,250 | €132,250 | = | 0.0% |
| Other amounts receivable | 291 | €132,250 | €132,250 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €35,636 | €143,610 | +€107,974 | +303% |
| Trade receivables | 40 | €20,371 | €104,975 | +€84,604 | +415% |
| Other amounts receivable | 41 | €15,265 | €38,635 | +€23,370 | +153% |
| Cash at bank and in hand | 54/58 | €18,651 | €32,095 | +€13,445 | +72.1% |
| Deferred charges and accrued income | 490/1 | €35,773 | €35,841 | +€67 | +0.2% |
| Total equity and liabilities | 10/49 | €255,075 | €369,290 | +€114,216 | +44.8% |
| Equity | 10/15 | €188,193 | €275,690 | +€87,497 | +46.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €181,993 | €269,490 | +€87,497 | +48.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €180,133 | €267,631 | +€87,497 | +48.6% |
| Amounts payable | 17/49 | €66,882 | €93,600 | +€26,718 | +39.9% |
| Amounts payable after more than one year | 17 | €28,317 | €20,498 | -€7,819 | -27.6% |
| Financial debts | 170/4 | €28,317 | €20,498 | -€7,819 | -27.6% |
| Amounts payable within one year | 42/48 | €38,565 | €73,102 | +€34,537 | +89.6% |
| Current portion of amounts payable after more than one year | 42 | €7,457 | €7,819 | +€362 | +4.9% |
| Trade debts | 44 | €1,664 | €3,182 | +€1,518 | +91.2% |
| Suppliers | 440/4 | €1,664 | €3,182 | +€1,518 | +91.2% |
| Taxes, remuneration and social security | 45 | €29,444 | €62,101 | +€32,657 | +111% |
| Taxes | 450/3 | €29,444 | €62,101 | +€32,657 | +111% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,828 | €7,270 | +€3,442 | +89.9% |
| Other operating charges | 640/8 | €384 | €2,386 | +€2,002 | +521% |
| Non-recurring operating charges | 66A | - | €4,914 | +€4,914 | |
| Gross operating margin | 9900 | €34,044 | €145,825 | +€111,781 | +328% |
| Operating profit (loss) | 9901 | €29,832 | €131,255 | +€101,423 | +340% |
| Financial income | 75/76B | €5,399 | €6,199 | +€800 | +14.8% |
| Recurring financial income | 75 | €5,399 | €6,199 | +€800 | +14.8% |
| Financial charges | 65/66B | €4,020 | €4,889 | +€869 | +21.6% |
| Recurring financial charges | 65 | €4,020 | €4,889 | +€869 | +21.6% |
| Profit (loss) for the period before taxes | 9903 | €31,211 | €132,565 | +€101,354 | +325% |
| Income taxes | 67/77 | €10,636 | €45,068 | +€34,432 | +324% |
| Profit (loss) for the period | 9904 | €20,575 | €87,497 | +€66,922 | +325% |
| Profit (loss) for the period to be appropriated | 9905 | €20,575 | €87,497 | +€66,922 | +325% |
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 23 October 2026 via checked.be.