Construction Raphaël: 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.
Construction Raphaël
Largest movements
- Tangible fixed assets -€8,438
down €8,438 (-26.3%), from €32,130 to €23,692
of which Furniture and vehicles: -€8,038
- Cash -€1,877
down €1,877 (-9.6%), from €19,580 to €17,704
mainly Current portion of long-term debt (-€20,314) and Net result for the year (-€2,915)
- Current portion of long-term debt -€20,314
down €20,314 (-71.1%), from €28,585 to €8,271
- Debts after one year +€12,439
new in 2025: €12,439
- Profit (loss) carried forward -€2,915
down €2,915 (-4.8%), from €60,449 to €57,533
- Turnover +€42,664
up €42,664 (+41.6%), from €102,523 to €145,188
- Purchases and services +€35,929
up €35,929 (+39.7%), from €90,605 to €126,534
- Taxes -€9,209
down €9,209 (-100%), from €9,209 to €0
- Gross operating margin +€6,527
up €6,527 (+53.8%), from €12,141 to €18,668
- Financial income +€3,093
up €3,093 (+616%), from €502 to €3,595
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 | €109,869 | €99,379 | -€10,490 | -9.5% |
| Fixed assets | 21/28 | €32,130 | €23,692 | -€8,438 | -26.3% |
| Tangible fixed assets | 22/27 | €32,130 | €23,692 | -€8,438 | -26.3% |
| Plant, machinery and equipment | 23 | €1,271 | €872 | -€399 | -31.4% |
| Furniture and vehicles | 24 | €30,859 | €22,821 | -€8,038 | -26.0% |
| Current assets | 29/58 | €77,739 | €75,687 | -€2,052 | -2.6% |
| Amounts receivable within one year | 40/41 | €57,415 | €57,706 | +€290 | +0.5% |
| Trade receivables | 40 | €27,237 | €12,474 | -€14,763 | -54.2% |
| Other amounts receivable | 41 | €30,179 | €45,232 | +€15,053 | +49.9% |
| Cash at bank and in hand | 54/58 | €19,580 | €17,704 | -€1,877 | -9.6% |
| Deferred charges and accrued income | 490/1 | €743 | €277 | -€466 | -62.7% |
| Total equity and liabilities | 10/49 | €109,869 | €99,379 | -€10,490 | -9.5% |
| Equity | 10/15 | €74,709 | €71,793 | -€2,915 | -3.9% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,449 | €57,533 | -€2,915 | -4.8% |
| Amounts payable | 17/49 | €35,160 | €27,586 | -€7,575 | -21.5% |
| Amounts payable after more than one year | 17 | - | €12,439 | +€12,439 | |
| Financial debts | 170/4 | - | €12,439 | +€12,439 | |
| Amounts payable within one year | 42/48 | €35,160 | €15,146 | -€20,014 | -56.9% |
| Current portion of amounts payable after more than one year | 42 | €28,585 | €8,271 | -€20,314 | -71.1% |
| Trade debts | 44 | €6,102 | €6,376 | +€274 | +4.5% |
| Suppliers | 440/4 | €6,102 | €6,376 | +€274 | +4.5% |
| Taxes, remuneration and social security | 45 | €473 | €499 | +€26 | +5.5% |
| Taxes | 450/3 | €473 | €499 | +€26 | +5.5% |
| Turnover | 70 | €102,523 | €145,188 | +€42,664 | +41.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €90,605 | €126,534 | +€35,929 | +39.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,572 | €8,438 | -€134 | -1.6% |
| Other operating charges | 640/8 | €991 | €396 | -€595 | -60.1% |
| Non-recurring operating charges | 66A | - | €14,903 | +€14,903 | |
| Gross operating margin | 9900 | €12,141 | €18,668 | +€6,527 | +53.8% |
| Operating profit (loss) | 9901 | €2,579 | -€5,069 | -€7,648 | |
| Financial income | 75/76B | €502 | €3,595 | +€3,093 | +616% |
| Recurring financial income | 75 | €502 | €3,595 | +€3,093 | +616% |
| Financial charges | 65/66B | €1,155 | €1,441 | +€286 | +24.8% |
| Recurring financial charges | 65 | €1,155 | €1,441 | +€286 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | €1,926 | -€2,915 | -€4,841 | |
| Income taxes | 67/77 | €9,209 | €0 | -€9,209 | -100% |
| Profit (loss) for the period | 9904 | -€7,283 | -€2,915 | +€4,367 | +60.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,283 | -€2,915 | +€4,367 | +60.0% |
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 14 October 2026 via checked.be.