RINAREST: what changed
Two fiscal 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.
RINAREST
Largest movements
- Tangible fixed assets -€141,705
down €141,705 (-41.5%), from €341,416 to €199,711
of which Land and buildings: -€133,333
- Deferred charges and accrued income +€15,703
up €15,703 (+3666.2%), from €428 to €16,131
- Cash -€13,801
down €13,801 (-4.2%), from €330,811 to €317,010
mainly Debts after one year (-€134,526) and Net result for the year (-€120,274)
- Receivables within one year -€8,496
down €8,496 (-8.4%), from €100,870 to €92,374
of which Other amounts receivable: -€6,951
- Debts after one year -€134,526
down €134,526 (-55.0%), from €244,617 to €110,092
- Trade debts +€131,142
up €131,142 (+80.6%), from €162,782 to €293,925
- Reserves -€66,665
no longer reported in 2025 (was €66,665)
- Profit (loss) carried forward -€53,609
new in 2025: -€53,609
- Tax, wage and social debts -€34,752
down €34,752 (-33.1%), from €105,074 to €70,322
of which Remuneration and social security: -€28,196
- Gross operating margin -€221,510
down €221,510 (-20.5%), from €1.1m to €859,838
- Staff costs -€81,312
down €81,312 (-9.3%), from €876,981 to €795,669
- Financial charges +€12,526
up €12,526 (+79.3%), from €15,787 to €28,313
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.
Cash bridge derived
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 | €811,623 | €655,390 | -€156,233 | -19.2% |
| Formation expenses | 20 | €10,628 | €5,906 | -€4,722 | -44.4% |
| Fixed assets | 21/28 | €341,416 | €199,711 | -€141,705 | -41.5% |
| Tangible fixed assets | 22/27 | €341,416 | €199,711 | -€141,705 | -41.5% |
| Land and buildings | 22 | €300,090 | €166,757 | -€133,333 | -44.4% |
| Plant, machinery and equipment | 23 | €30,986 | €28,328 | -€2,658 | -8.6% |
| Furniture and vehicles | 24 | €10,340 | €4,627 | -€5,714 | -55.3% |
| Current assets | 29/58 | €459,578 | €449,773 | -€9,805 | -2.1% |
| Stocks and contracts in progress | 3 | €27,469 | €24,258 | -€3,210 | -11.7% |
| Stocks | 30/36 | €27,469 | €24,258 | -€3,210 | -11.7% |
| Amounts receivable within one year | 40/41 | €100,870 | €92,374 | -€8,496 | -8.4% |
| Trade receivables | 40 | €1,545 | - | -€1,545 | |
| Other amounts receivable | 41 | €99,325 | €92,374 | -€6,951 | -7.0% |
| Cash at bank and in hand | 54/58 | €330,811 | €317,010 | -€13,801 | -4.2% |
| Deferred charges and accrued income | 490/1 | €428 | €16,131 | +€15,703 | +3666.2% |
| Total equity and liabilities | 10/49 | €811,623 | €655,390 | -€156,233 | -19.2% |
| Equity | 10/15 | €166,665 | €46,391 | -€120,274 | -72.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €66,665 | - | -€66,665 | |
| Distributable reserves | 133 | €66,665 | - | -€66,665 | |
| Profit (loss) carried forward | 14 | - | -€53,609 | -€53,609 | |
| Amounts payable | 17/49 | €644,958 | €608,999 | -€35,959 | -5.6% |
| Amounts payable after more than one year | 17 | €244,617 | €110,092 | -€134,526 | -55.0% |
| Financial debts | 170/4 | €244,617 | €110,092 | -€134,526 | -55.0% |
| Amounts payable within one year | 42/48 | €400,341 | €498,772 | +€98,431 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €132,484 | €134,526 | +€2,041 | +1.5% |
| Trade debts | 44 | €162,782 | €293,925 | +€131,142 | +80.6% |
| Suppliers | 440/4 | €162,782 | €293,925 | +€131,142 | +80.6% |
| Taxes, remuneration and social security | 45 | €105,074 | €70,322 | -€34,752 | -33.1% |
| Taxes | 450/3 | €8,512 | €1,956 | -€6,556 | -77.0% |
| Remuneration and social security | 454/9 | €96,562 | €68,366 | -€28,196 | -29.2% |
| Accrued charges and deferred income | 492/3 | - | €135 | +€135 | |
| Remuneration, social security and pensions | 62 | €876,981 | €795,669 | -€81,312 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €153,981 | €156,462 | +€2,481 | +1.6% |
| Other operating charges | 640/8 | €11,755 | €6,963 | -€4,793 | -40.8% |
| Gross operating margin | 9900 | €1,081,348 | €859,838 | -€221,510 | -20.5% |
| Operating profit (loss) | 9901 | €38,630 | -€99,255 | -€137,886 | |
| Financial income | 75/76B | €1,914 | €7,470 | +€5,557 | +290.3% |
| Recurring financial income | 75 | €1,914 | €7,470 | +€5,557 | +290.3% |
| Financial charges | 65/66B | €15,787 | €28,313 | +€12,526 | +79.3% |
| Recurring financial charges | 65 | €15,787 | €28,313 | +€12,526 | +79.3% |
| Profit (loss) for the period before taxes | 9903 | €24,757 | -€120,098 | -€144,855 | |
| Income taxes | 67/77 | €120 | €176 | +€56 | +46.5% |
| Profit (loss) for the period | 9904 | €24,637 | -€120,274 | -€144,911 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,637 | -€120,274 | -€144,911 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.