ATELIERS RASE: what changed
ATELIERS RASE
Largest movements
- Cash -€139,230
down €139,230 (-89.7%), from €155,276 to €16,046
mainly Trade debts (-€289,050) and Debts after one year (-€41,188)
- Receivables within one year -€103,411
down €103,411 (-19.1%), from €541,371 to €437,961
of which Trade receivables: -€208,411
- Tangible fixed assets -€70,641
down €70,641 (-19.0%), from €371,076 to €300,435
of which Land and buildings: -€42,781
- Stocks and contracts +€33,900
up €33,900 (+9.3%), from €364,986 to €398,886
- Trade debts -€289,050
down €289,050 (-74.5%), from €388,224 to €99,174
- Reserves +€59,104
up €59,104 (+22.8%), from €258,816 to €317,920
- Debts after one year -€41,188
down €41,188 (-8.6%), from €477,681 to €436,493
- Current portion of long-term debt -€22,655
down €22,655 (-29.7%), from €76,354 to €53,699
- Gross operating margin +€96,823
up €96,823 (+25.6%), from €378,365 to €475,188
- Staff costs +€91,944
up €91,944 (+46.7%), from €197,023 to €288,966
- Depreciation +€10,359
up €10,359 (+14.8%), from €70,177 to €80,536
- Taxes -€5,503
down €5,503 (-17.8%), from €30,913 to €25,410
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,435,902 | €1,153,328 | -€282,574 | -19.7% |
| Fixed assets | 21/28 | €371,076 | €300,435 | -€70,641 | -19.0% |
| Tangible fixed assets | 22/27 | €371,076 | €300,435 | -€70,641 | -19.0% |
| Land and buildings | 22 | €195,922 | €153,141 | -€42,781 | -21.8% |
| Plant, machinery and equipment | 23 | €26,946 | €26,967 | +€20 | +0.1% |
| Furniture and vehicles | 24 | €148,207 | €120,327 | -€27,880 | -18.8% |
| Current assets | 29/58 | €1,064,826 | €852,893 | -€211,933 | -19.9% |
| Stocks and contracts in progress | 3 | €364,986 | €398,886 | +€33,900 | +9.3% |
| Stocks | 30/36 | €364,986 | €398,886 | +€33,900 | +9.3% |
| Amounts receivable within one year | 40/41 | €541,371 | €437,961 | -€103,411 | -19.1% |
| Trade receivables | 40 | €501,183 | €292,773 | -€208,411 | -41.6% |
| Other amounts receivable | 41 | €40,188 | €145,188 | +€105,000 | +261% |
| Cash at bank and in hand | 54/58 | €155,276 | €16,046 | -€139,230 | -89.7% |
| Deferred charges and accrued income | 490/1 | €3,193 | - | -€3,193 | |
| Total equity and liabilities | 10/49 | €1,435,902 | €1,153,328 | -€282,574 | -19.7% |
| Equity | 10/15 | €382,878 | €441,982 | +€59,104 | +15.4% |
| Contributions | 10/11 | €81,805 | €81,805 | = | 0.0% |
| Reserves | 13 | €258,816 | €317,920 | +€59,104 | +22.8% |
| Distributable reserves | 133 | €258,816 | €317,920 | +€59,104 | +22.8% |
| Profit (loss) carried forward | 14 | €42,257 | €42,257 | = | 0.0% |
| Amounts payable | 17/49 | €1,053,024 | €711,346 | -€341,678 | -32.4% |
| Amounts payable after more than one year | 17 | €477,681 | €436,493 | -€41,188 | -8.6% |
| Financial debts | 170/4 | €477,681 | €436,493 | -€41,188 | -8.6% |
| Amounts payable within one year | 42/48 | €575,343 | €274,853 | -€300,490 | -52.2% |
| Current portion of amounts payable after more than one year | 42 | €76,354 | €53,699 | -€22,655 | -29.7% |
| Trade debts | 44 | €388,224 | €99,174 | -€289,050 | -74.5% |
| Suppliers | 440/4 | €388,224 | €99,174 | -€289,050 | -74.5% |
| Taxes, remuneration and social security | 45 | €93,567 | €100,283 | +€6,716 | +7.2% |
| Taxes | 450/3 | €41,771 | €48,570 | +€6,798 | +16.3% |
| Remuneration and social security | 454/9 | €51,796 | €51,713 | -€83 | -0.2% |
| Other amounts payable | 47/48 | €17,198 | €21,697 | +€4,499 | +26.2% |
| Remuneration, social security and pensions | 62 | €197,023 | €288,966 | +€91,944 | +46.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,177 | €80,536 | +€10,359 | +14.8% |
| Other operating charges | 640/8 | €7,990 | €4,490 | -€3,500 | -43.8% |
| Gross operating margin | 9900 | €378,365 | €475,188 | +€96,823 | +25.6% |
| Operating profit (loss) | 9901 | €103,175 | €101,195 | -€1,980 | -1.9% |
| Financial income | 75/76B | - | €209 | +€209 | |
| Recurring financial income | 75 | - | €209 | +€209 | |
| Financial charges | 65/66B | €13,500 | €16,890 | +€3,389 | +25.1% |
| Recurring financial charges | 65 | €13,500 | €16,890 | +€3,389 | +25.1% |
| Profit (loss) for the period before taxes | 9903 | €89,674 | €84,514 | -€5,160 | -5.8% |
| Income taxes | 67/77 | €30,913 | €25,410 | -€5,503 | -17.8% |
| Profit (loss) for the period | 9904 | €58,761 | €59,104 | +€343 | +0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €58,761 | €59,104 | +€343 | +0.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.