RIO EQUESTRIAN: 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.
RIO EQUESTRIAN
Largest movements
- Receivables within one year +€5.9m
up €5.9m (+1,468%), from €401,618 to €6.3m
of which Trade receivables: +€5.8m
- Cash -€110,831
down €110,831 (-70.3%), from €157,705 to €46,874
mainly Receivables within one year (-€5.9m) and Advances received (-€200,000)
- Other debts +€5.9m
up €5.9m (+45,470%), from €12,947 to €5.9m
- Advances received -€200,000
no longer reported in 2025 (was €200,000)
- Reserves +€89,500
up €89,500 (+64.6%), from €138,475 to €227,975
- Gross operating margin +€133,774
up €133,774 (+358%), from €37,354 to €171,128
- Taxes +€37,608
up €37,608 (+355%), from €10,584 to €48,192
- Financial charges +€19,982
up €19,982 (+1,731%), from €1,154 to €21,136
- Other operating charges +€2,051
up €2,051 (+223%), from €920 to €2,971
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 | €620,960 | €6,398,444 | +€5.8m | +930% |
| Fixed assets | 21/28 | €61,637 | €44,743 | -€16,894 | -27.4% |
| Tangible fixed assets | 22/27 | €50,840 | €43,946 | -€6,894 | -13.6% |
| Furniture and vehicles | 24 | €50,840 | €43,946 | -€6,894 | -13.6% |
| Financial fixed assets | 28 | €10,797 | €797 | -€10,000 | -92.6% |
| Current assets | 29/58 | €559,323 | €6,353,701 | +€5.8m | +1,036% |
| Stocks and contracts in progress | 3 | - | €10,202 | +€10,202 | |
| Stocks | 30/36 | - | €10,202 | +€10,202 | |
| Amounts receivable within one year | 40/41 | €401,618 | €6,296,625 | +€5.9m | +1,468% |
| Trade receivables | 40 | €216,537 | €6,049,224 | +€5.8m | +2,694% |
| Other amounts receivable | 41 | €185,081 | €247,401 | +€62,320 | +33.7% |
| Cash at bank and in hand | 54/58 | €157,705 | €46,874 | -€110,831 | -70.3% |
| Total equity and liabilities | 10/49 | €620,960 | €6,398,444 | +€5.8m | +930% |
| Equity | 10/15 | €184,309 | €273,900 | +€89,590 | +48.6% |
| Contributions | 10/11 | €6,401 | €6,401 | = | 0.0% |
| Reserves | 13 | €138,475 | €227,975 | +€89,500 | +64.6% |
| Distributable reserves | 133 | €138,475 | €227,975 | +€89,500 | +64.6% |
| Profit (loss) carried forward | 14 | €39,433 | €39,524 | +€90 | +0.2% |
| Amounts payable | 17/49 | €436,651 | €6,124,545 | +€5.7m | +1,303% |
| Amounts payable within one year | 42/48 | €436,651 | €6,124,216 | +€5.7m | +1,303% |
| Current portion of amounts payable after more than one year | 42 | - | €20,944 | +€20,944 | |
| Trade debts | 44 | €192,556 | €154,204 | -€38,352 | -19.9% |
| Suppliers | 440/4 | €192,556 | €154,204 | -€38,352 | -19.9% |
| Advances received on contracts in progress | 46 | €200,000 | - | -€200,000 | |
| Taxes, remuneration and social security | 45 | €31,148 | €49,021 | +€17,874 | +57.4% |
| Taxes | 450/3 | €31,148 | €49,021 | +€17,874 | +57.4% |
| Other amounts payable | 47/48 | €12,947 | €5,900,047 | +€5.9m | +45,470% |
| Accrued charges and deferred income | 492/3 | - | €329 | +€329 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,222 | €9,240 | +€1,017 | +12.4% |
| Other operating charges | 640/8 | €920 | €2,971 | +€2,051 | +223% |
| Gross operating margin | 9900 | €37,354 | €171,128 | +€133,774 | +358% |
| Operating profit (loss) | 9901 | €28,212 | €158,918 | +€130,706 | +463% |
| Financial income | 75/76B | €1,238 | - | -€1,238 | |
| Recurring financial income | 75 | €1,238 | - | -€1,238 | |
| Financial charges | 65/66B | €1,154 | €21,136 | +€19,982 | +1,731% |
| Recurring financial charges | 65 | €1,154 | €21,136 | +€19,982 | +1,731% |
| Profit (loss) for the period before taxes | 9903 | €28,295 | €137,782 | +€109,487 | +387% |
| Income taxes | 67/77 | €10,584 | €48,192 | +€37,608 | +355% |
| Profit (loss) for the period | 9904 | €17,711 | €89,590 | +€71,879 | +406% |
| Profit (loss) for the period to be appropriated | 9905 | €17,711 | €89,590 | +€71,879 | +406% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.