RHO - DELTA: 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.
RHO - DELTA
Largest movements
- Receivables within one year +€275,832
up €275,832 (+2,755%), from €10,011 to €285,844
of which Other amounts receivable: +€224,332
- Cash -€169,161
down €169,161 (-95.8%), from €176,506 to €7,345
mainly Receivables within one year (-€275,832) and Smaller working-capital items (-€339)
- Current portion of long-term debt +€75,000
new in 2025: €75,000
- Trade debts +€24,533
up €24,533 (+154%), from €15,965 to €40,498
- Reserves +€7,477
up €7,477 (+6.9%), from €108,052 to €115,530
of which Distributable reserves: +€7,104
- Gross operating margin -€2,264
down €2,264 (-20.9%), from €10,842 to €8,578
- Other operating charges +€937
up €937 (+242%), from €387 to €1,325
- Financial income +€462
new in 2025: €462
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 | €186,517 | €293,651 | +€107,134 | +57.4% |
| Current assets | 29/58 | €186,517 | €293,651 | +€107,134 | +57.4% |
| Amounts receivable within one year | 40/41 | €10,011 | €285,844 | +€275,832 | +2,755% |
| Trade receivables | 40 | - | €51,500 | +€51,500 | |
| Other amounts receivable | 41 | €10,011 | €234,343 | +€224,332 | +2,241% |
| Cash at bank and in hand | 54/58 | €176,506 | €7,345 | -€169,161 | -95.8% |
| Deferred charges and accrued income | 490/1 | - | €462 | +€462 | |
| Total equity and liabilities | 10/49 | €186,517 | €293,651 | +€107,134 | +57.4% |
| Equity | 10/15 | €170,552 | €178,030 | +€7,477 | +4.4% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €108,052 | €115,530 | +€7,477 | +6.9% |
| Non-distributable reserves | 130/1 | €3,611 | €3,984 | +€374 | +10.4% |
| Legal reserve | 130 | €3,611 | €3,984 | +€374 | +10.4% |
| Distributable reserves | 133 | €104,442 | €111,545 | +€7,104 | +6.8% |
| Amounts payable | 17/49 | €15,965 | €115,621 | +€99,656 | +624% |
| Amounts payable within one year | 42/48 | €15,965 | €115,498 | +€99,533 | +623% |
| Current portion of amounts payable after more than one year | 42 | - | €75,000 | +€75,000 | |
| Trade debts | 44 | €15,965 | €40,498 | +€24,533 | +154% |
| Suppliers | 440/4 | €15,965 | €40,498 | +€24,533 | +154% |
| Accrued charges and deferred income | 492/3 | - | €123 | +€123 | |
| Other operating charges | 640/8 | €387 | €1,325 | +€937 | +242% |
| Gross operating margin | 9900 | €10,842 | €8,578 | -€2,264 | -20.9% |
| Operating profit (loss) | 9901 | €10,455 | €7,253 | -€3,202 | -30.6% |
| Financial income | 75/76B | - | €462 | +€462 | |
| Recurring financial income | 75 | - | €462 | +€462 | |
| Financial charges | 65/66B | €217 | €238 | +€21 | +9.8% |
| Recurring financial charges | 65 | €217 | €238 | +€21 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | €10,238 | €7,477 | -€2,760 | -27.0% |
| Profit (loss) for the period | 9904 | €10,238 | €7,477 | -€2,760 | -27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,238 | €7,477 | -€2,760 | -27.0% |
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 18 October 2026 via checked.be.