RIGEL: 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.
What changed
RIGEL
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€507,757
2024 · -€1.4m+€898,164
Equity
€31.1m
2024 · €29.0m+€2.1m
Cash
€469,189
2024 · €914,393-€445,204
Balance sheet total
€54.6m
2024 · €44.9m+€9.7m
Largest movements
Assets
- Financial fixed assets +€10.6m
up €10.6m (+27.0%), from €39.2m to €49.8m
- Deferred charges and accrued income -€1.0m
down €1.0m (-78.8%), from €1.3m to €271,062
Equity and liabilities
- Debts after one year +€6.2m
up €6.2m (+41.8%), from €14.9m to €21.2m
- Contributions +€2.6m
up €2.6m (+8.5%), from €30.8m to €33.4m
of which Capital: +€2.6m
- Current portion of long-term debt +€1.2m
up €1.2m (+138%), from €857,144 to €2.0m
Income statement
- Financial income +€912,023
up €912,023 (+66.1%), from €1.4m to €2.3m
- Financial charges -€574,076
down €574,076 (-27.0%), from €2.1m to €1.6m
of which Financial charges: -€474,632
- Services and other goods +€573,426
up €573,426 (+72.6%), from €789,728 to €1.4m
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.
Result 2024
-€1.4m
Depreciation
-€12,279
Other operating charges
+€3,882
Other operating items
-€579,537
Financial income
+€912,023
Financial charges
+€574,076
Result 2025
-€507,757
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€183,835
Investment
-€10.7m
Financing
+€10.0m
Cash 2024
€914,393
From operations (derived)
+€183,835
Net result for the year
-€507,757
Depreciation
+€16,627
Receivables after one year
-€490,793
Smaller working-capital items
+€29,789
Deferred charges and accrued income
+€1.0m
Trade debts
+€129,241
Investment (derived)
-€10.7m
Investment in fixed assets (net)
-€10.7m
Financing
+€10.0m
Debts after one year
+€6.2m
Current portion of long-term debt
+€1.2m
Short-term financial debts
+€393
Contributions, distributions and other
+€2.6m
Cash 2025
€469,189
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,931,272 | €54,586,530 | +€9.7m | +21.5% |
| Fixed assets | 21/28 | €39,254,163 | €49,893,774 | +€10.6m | +27.1% |
| Intangible fixed assets | 21 | €46,455 | €90,871 | +€44,416 | +95.6% |
| Financial fixed assets | 28 | €39,207,708 | €49,802,903 | +€10.6m | +27.0% |
| Affiliated companies | 280/1 | €39,207,708 | €49,802,903 | +€10.6m | +27.0% |
| Participating interests | 280 | €18,492,969 | €18,542,969 | +€50,000 | +0.3% |
| Amounts receivable | 281 | €20,714,738 | €31,259,934 | +€10.5m | +50.9% |
| Current assets | 29/58 | €5,677,109 | €4,692,756 | -€984,353 | -17.3% |
| Amounts receivable after more than one year | 29 | €3,268,774 | €3,759,566 | +€490,793 | +15.0% |
| Other amounts receivable | 291 | €3,268,774 | €3,759,566 | +€490,793 | +15.0% |
| Amounts receivable within one year | 40/41 | €216,153 | €192,939 | -€23,214 | -10.7% |
| Trade receivables | 40 | €164,353 | €142,798 | -€21,555 | -13.1% |
| Other amounts receivable | 41 | €51,800 | €50,141 | -€1,659 | -3.2% |
| Cash at bank and in hand | 54/58 | €914,393 | €469,189 | -€445,204 | -48.7% |
| Deferred charges and accrued income | 490/1 | €1,277,790 | €271,062 | -€1.0m | -78.8% |
| Total equity and liabilities | 10/49 | €44,931,272 | €54,586,530 | +€9.7m | +21.5% |
| Equity | 10/15 | €28,988,608 | €31,080,870 | +€2.1m | +7.2% |
| Contributions | 10/11 | €30,764,153 | €33,364,172 | +€2.6m | +8.5% |
| Capital | 10 | €11,566,902 | €14,166,921 | +€2.6m | +22.5% |
| Issued capital | 100 | €11,566,902 | €14,166,921 | +€2.6m | +22.5% |
| Contributions outside capital | 11 | €19,197,251 | €19,197,251 | +€0 | 0.0% |
| Share premium | 1100/10 | €19,197,251 | €19,197,251 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€1,775,545 | -€2,283,302 | -€507,757 | -28.6% |
| Amounts payable | 17/49 | €15,942,664 | €23,505,660 | +€7.6m | +47.4% |
| Amounts payable after more than one year | 17 | €14,915,958 | €21,158,150 | +€6.2m | +41.8% |
| Financial debts | 170/4 | €14,915,958 | €21,158,150 | +€6.2m | +41.8% |
| Subordinated loans | 170 | €10,201,674 | €10,624,243 | +€422,569 | +4.1% |
| Credit institutions | 173 | €4,714,284 | €10,533,907 | +€5.8m | +123% |
| Amounts payable within one year | 42/48 | €1,026,706 | €2,340,935 | +€1.3m | +128% |
| Current portion of amounts payable after more than one year | 42 | €857,144 | €2,041,739 | +€1.2m | +138% |
| Financial debts | 43 | - | €393 | +€393 | |
| Credit institutions | 430/8 | - | €393 | +€393 | |
| Trade debts | 44 | €169,562 | €298,803 | +€129,241 | +76.2% |
| Suppliers | 440/4 | €169,562 | €298,803 | +€129,241 | +76.2% |
| Accrued charges and deferred income | 492/3 | - | €6,575 | +€6,575 | |
| Operating income | 70/76A | €143,491 | €137,380 | -€6,111 | -4.3% |
| Other operating income | 74 | €143,491 | €137,380 | -€6,111 | -4.3% |
| Operating charges | 60/66A | €799,847 | €1,381,670 | +€581,823 | +72.7% |
| Services and other goods | 61 | €789,728 | €1,363,154 | +€573,426 | +72.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,348 | €16,627 | +€12,279 | +282% |
| Other operating charges | 640/8 | €5,771 | €1,889 | -€3,882 | -67.3% |
| Operating profit (loss) | 9901 | -€656,356 | -€1,244,290 | -€587,934 | -89.6% |
| Financial income | 75/76B | €1,379,586 | €2,291,609 | +€912,023 | +66.1% |
| Recurring financial income | 75 | €1,379,586 | €2,291,609 | +€912,023 | +66.1% |
| Income from financial fixed assets | 750 | - | €106,690 | +€106,690 | |
| Income from current assets | 751 | €1,379,503 | €2,184,918 | +€805,415 | +58.4% |
| Other financial income | 752/9 | €83 | €1 | -€82 | -98.8% |
| Financial charges | 65/66B | €2,129,152 | €1,555,076 | -€574,076 | -27.0% |
| Recurring financial charges | 65 | €2,029,708 | €1,555,076 | -€474,632 | -23.4% |
| Debt charges | 650 | €2,029,120 | €1,553,823 | -€475,297 | -23.4% |
| Other financial charges | 652/9 | €587 | €1,253 | +€666 | +113% |
| Non-recurring financial charges | 66B | €99,444 | - | -€99,444 | |
| Profit (loss) for the period before taxes | 9903 | -€1,405,921 | -€507,757 | +€898,164 | +63.9% |
| Profit (loss) for the period | 9904 | -€1,405,921 | -€507,757 | +€898,164 | +63.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,405,921 | -€507,757 | +€898,164 | +63.9% |
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.