Rinoo: 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.
Rinoo
Largest movements
- Receivables within one year -€199,381
down €199,381 (-49.4%), from €403,519 to €204,139
of which Other amounts receivable: -€133,280
- Cash +€41,248
up €41,248 (+22.1%), from €186,797 to €228,045
mainly Receivables within one year (+€199,381) and Advances received (+€10,358)
- Tangible fixed assets -€10,385
down €10,385 (-83.8%), from €12,391 to €2,007
of which Leasing and similar rights: -€6,441
- Investment grants -€123,915
down €123,915 (-41.0%), from €301,898 to €177,983
- Trade debts -€47,020
down €47,020 (-47.8%), from €98,401 to €51,381
- Advances received +€10,358
up €10,358 (+51.8%), from €20,000 to €30,358
- Provisions -€6,826
down €6,826 (-58.4%), from €11,696 to €4,869
- Gross operating margin -€21,319
down €21,319 (-80.3%), from €26,538 to €5,219
- Provisions -€14,909
down €14,909, from €8,083 to -€6,826
- Depreciation -€3,416
down €3,416 (-26.1%), from €13,107 to €9,691
- Financial income +€1,773
up €1,773 (+274.9%), from €645 to €2,418
- Financial charges -€971
down €971 (-35.6%), from €2,729 to €1,757
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 | €612,455 | €439,382 | -€173,074 | -28.3% |
| Fixed assets | 21/28 | €12,391 | €2,007 | -€10,385 | -83.8% |
| Tangible fixed assets | 22/27 | €12,391 | €2,007 | -€10,385 | -83.8% |
| Plant, machinery and equipment | 23 | €2,626 | €1,303 | -€1,323 | -50.4% |
| Furniture and vehicles | 24 | €3,324 | €704 | -€2,620 | -78.8% |
| Leasing and similar rights | 25 | €6,441 | - | -€6,441 | |
| Current assets | 29/58 | €600,064 | €437,375 | -€162,689 | -27.1% |
| Stocks and contracts in progress | 3 | €7,307 | €1,623 | -€5,685 | -77.8% |
| Stocks | 30/36 | €7,307 | €1,623 | -€5,685 | -77.8% |
| Amounts receivable within one year | 40/41 | €403,519 | €204,139 | -€199,381 | -49.4% |
| Trade receivables | 40 | €69,175 | €3,074 | -€66,101 | -95.6% |
| Other amounts receivable | 41 | €334,344 | €201,064 | -€133,280 | -39.9% |
| Cash at bank and in hand | 54/58 | €186,797 | €228,045 | +€41,248 | +22.1% |
| Deferred charges and accrued income | 490/1 | €2,441 | €3,569 | +€1,128 | +46.2% |
| Total equity and liabilities | 10/49 | €612,455 | €439,382 | -€173,074 | -28.3% |
| Equity | 10/15 | €376,174 | €253,350 | -€122,824 | -32.7% |
| Contributions | 10/11 | €44,600 | €44,600 | = | 0.0% |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Distributable reserves | 133 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,177 | €30,268 | +€1,091 | +3.7% |
| Investment grants | 15 | €301,898 | €177,983 | -€123,915 | -41.0% |
| Provisions and deferred taxes | 16 | €11,696 | €4,869 | -€6,826 | -58.4% |
| Provisions for liabilities and charges | 160/5 | €11,696 | €4,869 | -€6,826 | -58.4% |
| Other liabilities and charges | 164/5 | €11,696 | €4,869 | -€6,826 | -58.4% |
| Amounts payable | 17/49 | €224,585 | €181,162 | -€43,423 | -19.3% |
| Amounts payable after more than one year | 17 | €40,000 | €40,000 | = | 0.0% |
| Other amounts payable | 178/9 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €180,946 | €139,538 | -€41,408 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €5,938 | - | -€5,938 | |
| Trade debts | 44 | €98,401 | €51,381 | -€47,020 | -47.8% |
| Suppliers | 440/4 | €98,401 | €51,381 | -€47,020 | -47.8% |
| Advances received on contracts in progress | 46 | €20,000 | €30,358 | +€10,358 | +51.8% |
| Taxes, remuneration and social security | 45 | €17,456 | €19,764 | +€2,308 | +13.2% |
| Taxes | 450/3 | €2,956 | €10,974 | +€8,018 | +271.2% |
| Remuneration and social security | 454/9 | €14,500 | €8,790 | -€5,710 | -39.4% |
| Other amounts payable | 47/48 | €39,151 | €38,035 | -€1,116 | -2.9% |
| Accrued charges and deferred income | 492/3 | €3,639 | €1,624 | -€2,015 | -55.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,107 | €9,691 | -€3,416 | -26.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €8,083 | -€6,826 | -€14,909 | |
| Other operating charges | 640/8 | €621 | €634 | +€12 | +2.0% |
| Non-recurring operating charges | 66A | - | €694 | +€694 | |
| Gross operating margin | 9900 | €26,538 | €5,219 | -€21,319 | -80.3% |
| Operating profit (loss) | 9901 | €4,727 | €1,027 | -€3,700 | -78.3% |
| Financial income | 75/76B | €645 | €2,418 | +€1,773 | +274.9% |
| Recurring financial income | 75 | €645 | €2,418 | +€1,773 | +274.9% |
| Financial charges | 65/66B | €2,729 | €1,757 | -€971 | -35.6% |
| Recurring financial charges | 65 | €2,729 | €1,757 | -€971 | -35.6% |
| Profit (loss) for the period before taxes | 9903 | €2,644 | €1,689 | -€955 | -36.1% |
| Income taxes | 67/77 | €676 | €598 | -€78 | -11.6% |
| Profit (loss) for the period | 9904 | €1,968 | €1,091 | -€877 | -44.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,968 | €1,091 | -€877 | -44.6% |
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 29 September 2026 via checked.be.