RINO: 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.
RINO
Largest movements
- Receivables within one year +€76,063
up €76,063 (+123%), from €61,893 to €137,956
- Tangible fixed assets +€50,439
up €50,439 (+32.6%), from €154,749 to €205,188
of which Land and buildings: +€93,045
- Cash -€16,852
down €16,852 (-47.7%), from €35,350 to €18,498
mainly Receivables within one year (-€76,063) and Investment in fixed assets (net) (-€74,015)
- Other debts +€90,875
up €90,875 (+51.4%), from €176,876 to €267,752
- Tax, wage and social debts +€12,539
up €12,539 (+370%), from €3,390 to €15,929
- Gross operating margin +€15,748
up €15,748 (+118%), from €13,336 to €29,084
- Depreciation +€5,806
up €5,806 (+32.7%), from €17,770 to €23,576
- Financial charges +€454
up €454 (+51.1%), from €890 to €1,344
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 | €254,932 | €362,404 | +€107,472 | +42.2% |
| Fixed assets | 21/28 | €154,749 | €205,188 | +€50,439 | +32.6% |
| Tangible fixed assets | 22/27 | €154,749 | €205,188 | +€50,439 | +32.6% |
| Land and buildings | 22 | €103,735 | €196,780 | +€93,045 | +89.7% |
| Plant, machinery and equipment | 23 | €6,180 | €2,008 | -€4,172 | -67.5% |
| Furniture and vehicles | 24 | €44,833 | €6,400 | -€38,433 | -85.7% |
| Current assets | 29/58 | €100,183 | €157,216 | +€57,033 | +56.9% |
| Stocks and contracts in progress | 3 | €845 | €762 | -€83 | -9.8% |
| Stocks | 30/36 | €845 | €762 | -€83 | -9.8% |
| Amounts receivable within one year | 40/41 | €61,893 | €137,956 | +€76,063 | +123% |
| Trade receivables | 40 | €61,893 | €137,956 | +€76,063 | +123% |
| Cash at bank and in hand | 54/58 | €35,350 | €18,498 | -€16,852 | -47.7% |
| Deferred charges and accrued income | 490/1 | €2,096 | - | -€2,096 | |
| Total equity and liabilities | 10/49 | €254,932 | €362,404 | +€107,472 | +42.2% |
| Equity | 10/15 | €68,909 | €72,520 | +€3,610 | +5.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €62,704 | €62,704 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €43,954 | €43,954 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5 | €3,616 | +€3,610 | +67,355% |
| Amounts payable | 17/49 | €186,022 | €289,884 | +€103,862 | +55.8% |
| Amounts payable within one year | 42/48 | €185,147 | €288,554 | +€103,407 | +55.9% |
| Trade debts | 44 | €4,881 | €4,873 | -€7 | -0.2% |
| Suppliers | 440/4 | €4,881 | €4,873 | -€7 | -0.2% |
| Taxes, remuneration and social security | 45 | €3,390 | €15,929 | +€12,539 | +370% |
| Taxes | 450/3 | €3,390 | €15,929 | +€12,539 | +370% |
| Other amounts payable | 47/48 | €176,876 | €267,752 | +€90,875 | +51.4% |
| Accrued charges and deferred income | 492/3 | €875 | €1,330 | +€454 | +51.9% |
| Non-recurring operating income | 76A | - | €59,000 | +€59,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,770 | €23,576 | +€5,806 | +32.7% |
| Other operating charges | 640/8 | €608 | €626 | +€18 | +2.9% |
| Gross operating margin | 9900 | €13,336 | €29,084 | +€15,748 | +118% |
| Operating profit (loss) | 9901 | -€5,042 | €4,882 | +€9,924 | |
| Financial income | 75/76B | €65 | €72 | +€7 | +11.1% |
| Recurring financial income | 75 | €65 | €72 | +€7 | +11.1% |
| Financial charges | 65/66B | €890 | €1,344 | +€454 | +51.1% |
| Recurring financial charges | 65 | €890 | €1,344 | +€454 | +51.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,867 | €3,610 | +€9,477 | |
| Profit (loss) for the period | 9904 | -€5,867 | €3,610 | +€9,477 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,867 | €3,610 | +€9,477 |
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 24 October 2026 via checked.be.