DE RAEDT LARS: 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.
DE RAEDT LARS
Largest movements
- Receivables after one year +€175,000
up €175,000 (+109%), from €159,961 to €334,961
- Cash +€72,889
up €72,889 (+26.9%), from €271,322 to €344,211
mainly Net result for the year (+€180,569) and Receivables within one year (+€48,051)
- Receivables within one year -€48,051
down €48,051 (-38.8%), from €123,909 to €75,858
of which Trade receivables: -€31,573
- Tangible fixed assets -€34,615
down €34,615 (-25.4%), from €136,463 to €101,848
of which Furniture and vehicles: -€28,311
- Reserves +€180,569
up €180,569 (+21.3%), from €848,743 to €1.0m
- Trade debts -€47,801
down €47,801 (-80.4%), from €59,454 to €11,654
- Tax, wage and social debts +€22,196
up €22,196 (+66.9%), from €33,171 to €55,367
of which Taxes: +€20,558
- Gross operating margin +€40,866
up €40,866 (+12.2%), from €334,279 to €375,145
- Staff costs +€34,328
up €34,328 (+74.7%), from €45,972 to €80,300
- Depreciation +€10,245
up €10,245 (+37.4%), from €27,398 to €37,643
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 | €961,043 | €1,119,969 | +€158,926 | +16.5% |
| Fixed assets | 21/28 | €148,993 | €106,878 | -€42,115 | -28.3% |
| Tangible fixed assets | 22/27 | €136,463 | €101,848 | -€34,615 | -25.4% |
| Plant, machinery and equipment | 23 | €4,307 | €3,207 | -€1,100 | -25.5% |
| Furniture and vehicles | 24 | €115,365 | €87,054 | -€28,311 | -24.5% |
| Other tangible fixed assets | 26 | €16,792 | €11,588 | -€5,205 | -31.0% |
| Financial fixed assets | 28 | €12,530 | €5,030 | -€7,500 | -59.9% |
| Current assets | 29/58 | €812,050 | €1,013,091 | +€201,041 | +24.8% |
| Amounts receivable after more than one year | 29 | €159,961 | €334,961 | +€175,000 | +109% |
| Other amounts receivable | 291 | €159,961 | €334,961 | +€175,000 | +109% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €123,909 | €75,858 | -€48,051 | -38.8% |
| Trade receivables | 40 | €106,148 | €74,575 | -€31,573 | -29.7% |
| Other amounts receivable | 41 | €17,761 | €1,283 | -€16,478 | -92.8% |
| Current investments | 50/53 | €249,999 | €249,999 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €271,322 | €344,211 | +€72,889 | +26.9% |
| Deferred charges and accrued income | 490/1 | €6,858 | €8,061 | +€1,203 | +17.5% |
| Total equity and liabilities | 10/49 | €961,043 | €1,119,969 | +€158,926 | +16.5% |
| Equity | 10/15 | €854,943 | €1,035,512 | +€180,569 | +21.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €848,743 | €1,029,312 | +€180,569 | +21.3% |
| Distributable reserves | 133 | €848,743 | €1,029,312 | +€180,569 | +21.3% |
| Amounts payable | 17/49 | €106,100 | €84,457 | -€21,643 | -20.4% |
| Amounts payable within one year | 42/48 | €106,100 | €84,457 | -€21,643 | -20.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €59,454 | €11,654 | -€47,801 | -80.4% |
| Suppliers | 440/4 | €59,454 | €11,654 | -€47,801 | -80.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €33,171 | €55,367 | +€22,196 | +66.9% |
| Taxes | 450/3 | €25,720 | €46,278 | +€20,558 | +79.9% |
| Remuneration and social security | 454/9 | €7,451 | €9,089 | +€1,638 | +22.0% |
| Other amounts payable | 47/48 | €13,475 | €17,436 | +€3,962 | +29.4% |
| Non-recurring operating income | 76A | €7,560 | €0 | -€7,560 | -100% |
| Remuneration, social security and pensions | 62 | €45,972 | €80,300 | +€34,328 | +74.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,398 | €37,643 | +€10,245 | +37.4% |
| Other operating charges | 640/8 | €2,127 | €2,084 | -€43 | -2.0% |
| Gross operating margin | 9900 | €334,279 | €375,145 | +€40,866 | +12.2% |
| Operating profit (loss) | 9901 | €258,782 | €255,118 | -€3,664 | -1.4% |
| Financial income | 75/76B | €5,594 | €6,592 | +€999 | +17.9% |
| Recurring financial income | 75 | €5,594 | €6,592 | +€999 | +17.9% |
| Financial charges | 65/66B | €248 | €351 | +€103 | +41.4% |
| Recurring financial charges | 65 | €248 | €351 | +€103 | +41.4% |
| Profit (loss) for the period before taxes | 9903 | €264,128 | €261,359 | -€2,768 | -1.0% |
| Income taxes | 67/77 | €80,487 | €80,790 | +€303 | +0.4% |
| Profit (loss) for the period | 9904 | €183,640 | €180,569 | -€3,071 | -1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €183,640 | €180,569 | -€3,071 | -1.7% |
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 29 October 2026 via checked.be.