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RINADI: 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

RINADI

BE 0450.037.834
NACE 41.001, General construction of residential buildings
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€24,760
2024 · €13,088-€37,849
Equity
€1.5m
2024 · €1.5m-€24,760
Cash
€479,702
2024 · €451,778+€27,923
Balance sheet total
€1.5m
2024 · €1.5m-€71,762

Largest movements

2024 to 2025
Assets
  • Stocks and contracts -€57,228

    no longer reported in 2025 (was €57,228)

  • Cash +€27,923

    up €27,923 (+6.2%), from €451,778 to €479,702

    mainly Stocks and contracts (+€57,228) and Depreciation (+€24,269)

  • Receivables within one year -€21,868

    down €21,868 (-18.0%), from €121,385 to €99,517

    of which Trade receivables: -€19,023

  • Tangible fixed assets -€18,983

    down €18,983 (-2.2%), from €851,924 to €832,941

    of which Land and buildings: -€18,901

Equity and liabilities
  • Other debts -€27,188

    down €27,188 (-93.6%), from €29,063 to €1,874

  • Reserves -€24,760

    down €24,760 (-3.7%), from €675,382 to €650,622

    of which Distributable reserves: -€24,760

  • Trade debts -€19,255

    down €19,255 (-92.8%), from €20,752 to €1,497

Income statement
  • Taxes -€7,557

    down €7,557 (-94.3%), from €8,017 to €460

  • Financial income -€5,972

    down €5,972 (-79.6%), from €7,506 to €1,534

  • Gross operating margin -€5,577

    down €5,577 (-13.6%), from €40,869 to €35,291

  • Staff costs +€2,915

    no longer reported in 2025 (was -€2,915)

  • Depreciation +€641

    up €641 (+2.7%), from €23,628 to €24,269

From the 2024 result to the 2025 result

effect on the 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 €13,088
Gross operating margin -€5,577
Staff costs -€2,915
Depreciation -€641
Other operating charges +€574
Other operating items -€30,909
Financial income -€5,972
Financial charges +€35
Taxes +€7,557
Result 2025 -€24,760
raises the resultlowers the resultnot broken down further in the accounts

Derived cash bridge

cash 2024 to 2025

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 +€31,592
Investment -€3,668
Financing €0
Cash 2024 €451,778
Net result for the year -€24,760
Depreciation +€24,269
Stocks and contracts +€57,228
Receivables within one year +€21,868
Deferred charges and accrued income -€11
Trade debts -€19,255
Tax, wage and social debts -€559
Other debts -€27,188
Investment in fixed assets (net) -€3,668
Cash 2025 €479,702
brings cash intakes cash out
Every line side by side 44 lines
Line Code 2024 2025 Change %
Total assets 20/58 €1,548,632 €1,476,870 -€71,762 -4.6%
Fixed assets 21/28 €917,828 €897,227 -€20,601 -2.2%
Tangible fixed assets 22/27 €851,924 €832,941 -€18,983 -2.2%
Land and buildings 22 €851,584 €832,683 -€18,901 -2.2%
Plant, machinery and equipment 23 €340 €258 -€82 -24.0%
Financial fixed assets 28 €65,904 €64,286 -€1,618 -2.5%
Current assets 29/58 €630,804 €579,642 -€51,161 -8.1%
Stocks and contracts in progress 3 €57,228 - -€57,228
Stocks 30/36 €57,228 - -€57,228
Amounts receivable within one year 40/41 €121,385 €99,517 -€21,868 -18.0%
Trade receivables 40 €116,597 €97,574 -€19,023 -16.3%
Other amounts receivable 41 €4,788 €1,943 -€2,845 -59.4%
Cash at bank and in hand 54/58 €451,778 €479,702 +€27,923 +6.2%
Deferred charges and accrued income 490/1 €413 €424 +€11 +2.7%
Total equity and liabilities 10/49 €1,548,632 €1,476,870 -€71,762 -4.6%
Equity 10/15 €1,497,502 €1,472,742 -€24,760 -1.7%
Contributions 10/11 €822,120 €822,120 = 0.0%
Capital 10 €822,120 €822,120 = 0.0%
Issued capital 100 €822,120 €822,120 = 0.0%
Reserves 13 €675,382 €650,622 -€24,760 -3.7%
Non-distributable reserves 130/1 €41,281 €41,281 = 0.0%
Legal reserve 130 €41,281 €41,281 = 0.0%
Distributable reserves 133 €634,102 €609,342 -€24,760 -3.9%
Amounts payable 17/49 €51,129 €4,127 -€47,002 -91.9%
Amounts payable within one year 42/48 €51,129 €4,127 -€47,002 -91.9%
Trade debts 44 €20,752 €1,497 -€19,255 -92.8%
Suppliers 440/4 €20,752 €1,497 -€19,255 -92.8%
Taxes, remuneration and social security 45 €1,315 €756 -€559 -42.5%
Taxes 450/3 €1,315 €756 -€559 -42.5%
Other amounts payable 47/48 €29,063 €1,874 -€27,188 -93.6%
Remuneration, social security and pensions 62 -€2,915 - +€2,915
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €23,628 €24,269 +€641 +2.7%
Other operating charges 640/8 €6,246 €5,672 -€574 -9.2%
Non-recurring operating charges 66A - €30,909 +€30,909
Gross operating margin 9900 €40,869 €35,291 -€5,577 -13.6%
Operating profit (loss) 9901 €13,909 -€25,559 -€39,468
Financial income 75/76B €7,506 €1,534 -€5,972 -79.6%
Recurring financial income 75 €7,506 €1,534 -€5,972 -79.6%
Financial charges 65/66B €310 €275 -€35 -11.2%
Recurring financial charges 65 €310 €275 -€35 -11.2%
Profit (loss) for the period before taxes 9903 €21,105 -€24,300 -€45,405
Income taxes 67/77 €8,017 €460 -€7,557 -94.3%
Profit (loss) for the period 9904 €13,088 -€24,760 -€37,849
Profit (loss) for the period to be appropriated 9905 €13,088 -€24,760 -€37,849

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 20 October 2026 via checked.be.