Buro Raes: 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.
Buro Raes
Largest movements
- Current investments +€40,640
up €40,640 (+20.3%), from €200,524 to €241,164
- Receivables within one year -€18,173
down €18,173 (-26.8%), from €67,881 to €49,708
of which Trade receivables: -€21,560
- Cash +€5,781
up €5,781 (+40.8%), from €14,182 to €19,963
mainly Net result for the year (+€29,986) and Receivables within one year (+€18,173)
- Reserves +€29,986
up €29,986 (+11.1%), from €270,371 to €300,357
- Tax, wage and social debts -€3,694
down €3,694 (-46.3%), from €7,974 to €4,281
of which Taxes: -€3,694
- Gross operating margin -€21,680
down €21,680 (-29.9%), from €72,487 to €50,808
- Taxes -€6,965
down €6,965 (-31.2%), from €22,324 to €15,359
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 | €295,681 | €322,148 | +€26,468 | +9.0% |
| Fixed assets | 21/28 | €12,805 | €11,013 | -€1,792 | -14.0% |
| Tangible fixed assets | 22/27 | €12,805 | €11,013 | -€1,792 | -14.0% |
| Land and buildings | 22 | €203 | €0 | -€203 | -100% |
| Plant, machinery and equipment | 23 | €663 | €497 | -€166 | -25.0% |
| Furniture and vehicles | 24 | €9,650 | €6,585 | -€3,065 | -31.8% |
| Other tangible fixed assets | 26 | €2,289 | €3,931 | +€1,642 | +71.7% |
| Current assets | 29/58 | €282,875 | €311,135 | +€28,260 | +10.0% |
| Amounts receivable within one year | 40/41 | €67,881 | €49,708 | -€18,173 | -26.8% |
| Trade receivables | 40 | €43,560 | €22,000 | -€21,560 | -49.5% |
| Other amounts receivable | 41 | €24,321 | €27,708 | +€3,387 | +13.9% |
| Current investments | 50/53 | €200,524 | €241,164 | +€40,640 | +20.3% |
| Cash at bank and in hand | 54/58 | €14,182 | €19,963 | +€5,781 | +40.8% |
| Deferred charges and accrued income | 490/1 | €288 | €301 | +€12 | +4.3% |
| Total equity and liabilities | 10/49 | €295,681 | €322,148 | +€26,468 | +9.0% |
| Equity | 10/15 | €285,371 | €315,357 | +€29,986 | +10.5% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €270,371 | €300,357 | +€29,986 | +11.1% |
| Distributable reserves | 133 | €270,371 | €300,357 | +€29,986 | +11.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €10,309 | €6,791 | -€3,518 | -34.1% |
| Amounts payable within one year | 42/48 | €10,309 | €6,791 | -€3,518 | -34.1% |
| Financial debts | 43 | - | €21 | +€21 | |
| Credit institutions | 430/8 | - | €21 | +€21 | |
| Trade debts | 44 | €2,335 | €2,489 | +€154 | +6.6% |
| Suppliers | 440/4 | €2,335 | €2,489 | +€154 | +6.6% |
| Taxes, remuneration and social security | 45 | €7,974 | €4,281 | -€3,694 | -46.3% |
| Taxes | 450/3 | €7,974 | €4,281 | -€3,694 | -46.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,277 | €5,702 | +€424 | +8.0% |
| Other operating charges | 640/8 | €719 | €513 | -€205 | -28.6% |
| Gross operating margin | 9900 | €72,487 | €50,808 | -€21,680 | -29.9% |
| Operating profit (loss) | 9901 | €66,491 | €44,592 | -€21,899 | -32.9% |
| Financial income | 75/76B | €813 | €920 | +€108 | +13.3% |
| Recurring financial income | 75 | €813 | €920 | +€108 | +13.3% |
| Financial charges | 65/66B | €161 | €168 | +€7 | +4.6% |
| Recurring financial charges | 65 | €161 | €168 | +€7 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €67,143 | €45,345 | -€21,798 | -32.5% |
| Income taxes | 67/77 | €22,324 | €15,359 | -€6,965 | -31.2% |
| Profit (loss) for the period | 9904 | €44,819 | €29,986 | -€14,833 | -33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €44,819 | €29,986 | -€14,833 | -33.1% |
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 14 October 2026 via checked.be.