DE RA: what changed
Two fiscal 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.
DE RA
Largest movements
- Receivables within one year -€169,421
down €169,421 (-42.9%), from €395,133 to €225,712
of which Other amounts receivable: -€136,771
- Other debts +€152,250
up €152,250 (+39.9%), from €381,350 to €533,600
- Profit (loss) carried forward -€100,853
down €100,853 (-35.0%), from -€287,837 to -€388,691
- Short-term financial debts -€91,163
down €91,163 (-5.5%), from €1.7m to €1.6m
- Debts after one year -€51,338
down €51,338 (-60.5%), from €84,827 to €33,489
- Trade debts -€49,862
down €49,862 (-11.0%), from €453,925 to €404,063
- Gross operating margin +€160,819
up €160,819 (+95.6%), from -€168,221 to -€7,402
- Financial charges -€74,070
down €74,070 (-50.6%), from €146,442 to €72,372
- Financial income -€19,518
down €19,518 (-99.8%), from €19,547 to €30
- Other operating charges +€9,127
up €9,127 (+76.2%), from €11,981 to €21,108
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.
Cash bridge derived
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 | €3,140,781 | €2,976,166 | -€164,615 | -5.2% |
| Fixed assets | 21/28 | €20,000 | €20,000 | = | 0.0% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €3,120,781 | €2,956,166 | -€164,615 | -5.3% |
| Stocks and contracts in progress | 3 | €2,697,770 | €2,728,408 | +€30,639 | +1.1% |
| Stocks | 30/36 | €2,650,727 | €2,650,727 | = | 0.0% |
| Contracts in progress | 37 | €47,042 | €77,681 | +€30,639 | +65.1% |
| Amounts receivable within one year | 40/41 | €395,133 | €225,712 | -€169,421 | -42.9% |
| Trade receivables | 40 | €142,855 | €110,205 | -€32,650 | -22.9% |
| Other amounts receivable | 41 | €252,278 | €115,507 | -€136,771 | -54.2% |
| Cash at bank and in hand | 54/58 | €27,879 | €2,046 | -€25,833 | -92.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,140,781 | €2,976,166 | -€164,615 | -5.2% |
| Equity | 10/15 | €480,363 | €379,509 | -€100,853 | -21.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €706,200 | €706,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €700,000 | €700,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€287,837 | -€388,691 | -€100,853 | -35.0% |
| Amounts payable | 17/49 | €2,660,419 | €2,596,657 | -€63,762 | -2.4% |
| Amounts payable after more than one year | 17 | €84,827 | €33,489 | -€51,338 | -60.5% |
| Financial debts | 170/4 | €84,827 | €33,489 | -€51,338 | -60.5% |
| Amounts payable within one year | 42/48 | €2,561,172 | €2,557,618 | -€3,554 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €63,206 | €51,338 | -€11,869 | -18.8% |
| Financial debts | 43 | €1,659,163 | €1,568,000 | -€91,163 | -5.5% |
| Credit institutions | 430/8 | €1,659,163 | €1,568,000 | -€91,163 | -5.5% |
| Trade debts | 44 | €453,925 | €404,063 | -€49,862 | -11.0% |
| Suppliers | 440/4 | €453,925 | €404,063 | -€49,862 | -11.0% |
| Taxes, remuneration and social security | 45 | €3,527 | €616 | -€2,910 | -82.5% |
| Taxes | 450/3 | €3,527 | €616 | -€2,910 | -82.5% |
| Other amounts payable | 47/48 | €381,350 | €533,600 | +€152,250 | +39.9% |
| Accrued charges and deferred income | 492/3 | €14,420 | €5,550 | -€8,870 | -61.5% |
| Other operating charges | 640/8 | €11,981 | €21,108 | +€9,127 | +76.2% |
| Gross operating margin | 9900 | -€168,221 | -€7,402 | +€160,819 | +95.6% |
| Operating profit (loss) | 9901 | -€180,203 | -€28,511 | +€151,692 | +84.2% |
| Financial income | 75/76B | €19,547 | €30 | -€19,518 | -99.8% |
| Recurring financial income | 75 | €19,547 | €30 | -€19,518 | -99.8% |
| Financial charges | 65/66B | €146,442 | €72,372 | -€74,070 | -50.6% |
| Recurring financial charges | 65 | €146,442 | €72,372 | -€74,070 | -50.6% |
| Profit (loss) for the period before taxes | 9903 | -€307,097 | -€100,853 | +€206,244 | +67.2% |
| Income taxes | 67/77 | €0 | €0 | +€0 | |
| Profit (loss) for the period | 9904 | -€307,097 | -€100,853 | +€206,244 | +67.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€307,097 | -€100,853 | +€206,244 | +67.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.