BANDEN RAYMACKERS: 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.
BANDEN RAYMACKERS
Largest movements
- Receivables within one year +€191,414
up €191,414 (+39.9%), from €479,968 to €671,382
of which Trade receivables: +€193,810
- Cash +€23,756
up €23,756 (+29.0%), from €81,871 to €105,627
mainly Net result for the year (+€139,113) and Tax, wage and social debts (+€75,904)
- Tangible fixed assets -€21,658
down €21,658 (-6.8%), from €317,201 to €295,543
of which Leasing and similar rights: -€20,990
- Reserves +€129,110
up €129,110 (+28.2%), from €458,463 to €587,573
of which Distributable reserves: +€129,110
- Tax, wage and social debts +€75,904
up €75,904 (+65.1%), from €116,649 to €192,553
of which Taxes: +€54,997
- Trade debts +€50,774
up €50,774 (+10.5%), from €484,998 to €535,773
- Debts after one year -€24,416
down €24,416 (-9.2%), from €265,900 to €241,484
- Other debts -€21,081
down €21,081 (-21.5%), from €98,169 to €77,088
- Gross operating margin +€228,252
up €228,252 (+50.1%), from €455,442 to €683,694
- Staff costs +€107,336
up €107,336 (+39.6%), from €271,205 to €378,541
- Other operating charges +€31,561
up €31,561 (+433%), from €7,287 to €38,849
- Taxes +€31,169
up €31,169 (+83.7%), from €37,229 to €68,398
- Depreciation +€12,328
up €12,328 (+28.3%), from €43,557 to €55,884
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 | €1,563,159 | €1,767,503 | +€204,344 | +13.1% |
| Fixed assets | 21/28 | €320,201 | €298,543 | -€21,658 | -6.8% |
| Tangible fixed assets | 22/27 | €317,201 | €295,543 | -€21,658 | -6.8% |
| Plant, machinery and equipment | 23 | €26,081 | €36,047 | +€9,966 | +38.2% |
| Furniture and vehicles | 24 | €36,096 | €26,163 | -€9,934 | -27.5% |
| Leasing and similar rights | 25 | €191,202 | €170,212 | -€20,990 | -11.0% |
| Other tangible fixed assets | 26 | €63,822 | €63,121 | -€701 | -1.1% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €1,242,958 | €1,468,960 | +€226,002 | +18.2% |
| Amounts receivable after more than one year | 29 | €2,500 | €0 | -€2,500 | -100% |
| Other amounts receivable | 291 | €2,500 | €0 | -€2,500 | -100% |
| Stocks and contracts in progress | 3 | €665,149 | €677,045 | +€11,897 | +1.8% |
| Stocks | 30/36 | €665,149 | €677,045 | +€11,897 | +1.8% |
| Amounts receivable within one year | 40/41 | €479,968 | €671,382 | +€191,414 | +39.9% |
| Trade receivables | 40 | €477,260 | €671,070 | +€193,810 | +40.6% |
| Other amounts receivable | 41 | €2,708 | €312 | -€2,395 | -88.5% |
| Cash at bank and in hand | 54/58 | €81,871 | €105,627 | +€23,756 | +29.0% |
| Deferred charges and accrued income | 490/1 | €13,470 | €14,905 | +€1,435 | +10.7% |
| Total equity and liabilities | 10/49 | €1,563,159 | €1,767,503 | +€204,344 | +13.1% |
| Equity | 10/15 | €478,492 | €607,605 | +€129,113 | +27.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €458,463 | €587,573 | +€129,110 | +28.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €456,463 | €585,573 | +€129,110 | +28.3% |
| Profit (loss) carried forward | 14 | €29 | €32 | +€3 | +10.0% |
| Amounts payable | 17/49 | €1,084,667 | €1,159,898 | +€75,231 | +6.9% |
| Amounts payable after more than one year | 17 | €265,900 | €241,484 | -€24,416 | -9.2% |
| Financial debts | 170/4 | €265,900 | €241,484 | -€24,416 | -9.2% |
| Amounts payable within one year | 42/48 | €795,629 | €900,830 | +€105,201 | +13.2% |
| Current portion of amounts payable after more than one year | 42 | €24,813 | €24,416 | -€396 | -1.6% |
| Financial debts | 43 | €71,000 | €71,000 | = | 0.0% |
| Credit institutions | 430/8 | €71,000 | €71,000 | = | 0.0% |
| Trade debts | 44 | €484,998 | €535,773 | +€50,774 | +10.5% |
| Suppliers | 440/4 | €484,998 | €535,773 | +€50,774 | +10.5% |
| Taxes, remuneration and social security | 45 | €116,649 | €192,553 | +€75,904 | +65.1% |
| Taxes | 450/3 | €67,598 | €122,595 | +€54,997 | +81.4% |
| Remuneration and social security | 454/9 | €49,051 | €69,958 | +€20,907 | +42.6% |
| Other amounts payable | 47/48 | €98,169 | €77,088 | -€21,081 | -21.5% |
| Accrued charges and deferred income | 492/3 | €23,138 | €17,584 | -€5,554 | -24.0% |
| Non-recurring operating income | 76A | €20,176 | €1,791 | -€18,384 | -91.1% |
| Remuneration, social security and pensions | 62 | €271,205 | €378,541 | +€107,336 | +39.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,557 | €55,884 | +€12,328 | +28.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€516 | €376 | +€891 | |
| Other operating charges | 640/8 | €7,287 | €38,849 | +€31,561 | +433% |
| Gross operating margin | 9900 | €455,442 | €683,694 | +€228,252 | +50.1% |
| Operating profit (loss) | 9901 | €133,909 | €210,044 | +€76,136 | +56.9% |
| Financial income | 75/76B | €33,912 | €40,818 | +€6,905 | +20.4% |
| Recurring financial income | 75 | €33,912 | €40,818 | +€6,905 | +20.4% |
| Financial charges | 65/66B | €45,530 | €43,351 | -€2,179 | -4.8% |
| Recurring financial charges | 65 | €45,530 | €43,351 | -€2,179 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €122,290 | €207,511 | +€85,220 | +69.7% |
| Income taxes | 67/77 | €37,229 | €68,398 | +€31,169 | +83.7% |
| Profit (loss) for the period | 9904 | €85,062 | €139,113 | +€54,051 | +63.5% |
| Profit (loss) for the period to be appropriated | 9905 | €85,062 | €139,113 | +€54,051 | +63.5% |
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 31 October 2026 via checked.be.