RHODIUM: 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.
RHODIUM
Largest movements
- Cash +€99,947
up €99,947 (+28.5%), from €350,604 to €450,551
mainly Net result for the year (+€77,449) and Trade debts (+€29,828)
- Receivables within one year -€14,271
down €14,271 (-22.5%), from €63,404 to €49,133
of which Trade receivables: -€13,915
- Reserves +€77,449
up €77,449 (+34.1%), from €227,429 to €304,878
of which Distributable reserves: +€77,449
- Trade debts +€29,828
up €29,828 (+980%), from €3,043 to €32,871
- Tax, wage and social debts -€19,133
down €19,133 (-15.7%), from €122,139 to €103,006
of which Remuneration and social security: -€13,110
- Gross operating margin -€80,212
down €80,212 (-10.9%), from €738,738 to €658,526
- Staff costs -€32,447
down €32,447 (-6.0%), from €540,006 to €507,559
- Taxes -€16,092
down €16,092 (-26.2%), from €61,537 to €45,445
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 | €479,208 | €567,633 | +€88,425 | +18.5% |
| Fixed assets | 21/28 | €58,847 | €62,819 | +€3,971 | +6.7% |
| Tangible fixed assets | 22/27 | €57,347 | €61,319 | +€3,971 | +6.9% |
| Furniture and vehicles | 24 | €57,347 | €61,319 | +€3,971 | +6.9% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €420,361 | €504,815 | +€84,454 | +20.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €63,404 | €49,133 | -€14,271 | -22.5% |
| Trade receivables | 40 | €63,048 | €49,133 | -€13,915 | -22.1% |
| Other amounts receivable | 41 | €356 | €0 | -€356 | -100% |
| Cash at bank and in hand | 54/58 | €350,604 | €450,551 | +€99,947 | +28.5% |
| Deferred charges and accrued income | 490/1 | €6,353 | €5,131 | -€1,222 | -19.2% |
| Total equity and liabilities | 10/49 | €479,208 | €567,633 | +€88,425 | +18.5% |
| Equity | 10/15 | €353,629 | €431,078 | +€77,449 | +21.9% |
| Contributions | 10/11 | €126,200 | €126,200 | = | 0.0% |
| Capital | 10 | €120,000 | €120,000 | = | 0.0% |
| Issued capital | 100 | €120,000 | €120,000 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €227,429 | €304,878 | +€77,449 | +34.1% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Legal reserve | 130 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €215,429 | €292,878 | +€77,449 | +36.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €125,579 | €136,556 | +€10,976 | +8.7% |
| Amounts payable within one year | 42/48 | €125,579 | €136,556 | +€10,976 | +8.7% |
| Financial debts | 43 | €397 | €654 | +€257 | +64.7% |
| Credit institutions | 430/8 | €397 | €654 | +€257 | +64.7% |
| Trade debts | 44 | €3,043 | €32,871 | +€29,828 | +980% |
| Suppliers | 440/4 | €3,043 | €32,871 | +€29,828 | +980% |
| Taxes, remuneration and social security | 45 | €122,139 | €103,006 | -€19,133 | -15.7% |
| Taxes | 450/3 | €51,699 | €45,677 | -€6,022 | -11.6% |
| Remuneration and social security | 454/9 | €70,440 | €57,330 | -€13,110 | -18.6% |
| Other amounts payable | 47/48 | €0 | €25 | +€25 | |
| Non-recurring operating income | 76A | €2,715 | €0 | -€2,715 | -100% |
| Remuneration, social security and pensions | 62 | €540,006 | €507,559 | -€32,447 | -6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,570 | €24,487 | +€2,918 | +13.5% |
| Other operating charges | 640/8 | €3,708 | €2,982 | -€726 | -19.6% |
| Gross operating margin | 9900 | €738,738 | €658,526 | -€80,212 | -10.9% |
| Operating profit (loss) | 9901 | €173,454 | €123,498 | -€49,956 | -28.8% |
| Financial income | 75/76B | €202 | €23 | -€179 | -88.5% |
| Recurring financial income | 75 | €202 | €23 | -€179 | -88.5% |
| Financial charges | 65/66B | €1,023 | €627 | -€396 | -38.7% |
| Recurring financial charges | 65 | €1,023 | €627 | -€396 | -38.7% |
| Profit (loss) for the period before taxes | 9903 | €172,633 | €122,894 | -€49,739 | -28.8% |
| Income taxes | 67/77 | €61,537 | €45,445 | -€16,092 | -26.2% |
| Profit (loss) for the period | 9904 | €111,095 | €77,449 | -€33,646 | -30.3% |
| Profit (loss) for the period to be appropriated | 9905 | €111,095 | €77,449 | -€33,646 | -30.3% |
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 15 October 2026 via checked.be.