DECOSTER-RAKELS: 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.
DECOSTER-RAKELS
Largest movements
- Tangible fixed assets +€44,847
up €44,847 (+96.5%), from €46,462 to €91,309
of which Land and buildings: +€56,026
- Cash -€21,580
down €21,580 (-17.0%), from €126,765 to €105,185
mainly Investment in fixed assets (net) (-€57,479) and Other debts (-€8,704)
- Receivables within one year +€7,500
up €7,500 (+20.7%), from €36,300 to €43,800
of which Other amounts receivable: +€7,500
- Reserves +€43,922
up €43,922 (+70.8%), from €62,006 to €105,929
- Other debts -€8,704
down €8,704 (-7.3%), from €119,338 to €110,635
- Tax, wage and social debts -€6,959
down €6,959 (-27.2%), from €25,558 to €18,599
- Gross operating margin -€18,947
down €18,947 (-21.1%), from €89,870 to €70,923
- Taxes -€3,268
down €3,268 (-20.5%), from €15,963 to €12,696
- Depreciation +€2,199
up €2,199 (+19.7%), from €11,182 to €13,381
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €210,325 | €240,643 | +€30,318 | +14.4% |
| Formation expenses | 20 | €749 | €0 | -€749 | -100% |
| Fixed assets | 21/28 | €46,462 | €91,309 | +€44,847 | +96.5% |
| Tangible fixed assets | 22/27 | €46,462 | €91,309 | +€44,847 | +96.5% |
| Land and buildings | 22 | - | €56,026 | +€56,026 | |
| Furniture and vehicles | 24 | €46,462 | €35,283 | -€11,179 | -24.1% |
| Current assets | 29/58 | €163,115 | €149,334 | -€13,781 | -8.4% |
| Amounts receivable within one year | 40/41 | €36,300 | €43,800 | +€7,500 | +20.7% |
| Trade receivables | 40 | €36,300 | €36,300 | = | 0.0% |
| Other amounts receivable | 41 | - | €7,500 | +€7,500 | |
| Cash at bank and in hand | 54/58 | €126,765 | €105,185 | -€21,580 | -17.0% |
| Deferred charges and accrued income | 490/1 | €49 | €349 | +€299 | +606% |
| Total equity and liabilities | 10/49 | €210,325 | €240,643 | +€30,318 | +14.4% |
| Equity | 10/15 | €63,806 | €107,729 | +€43,922 | +68.8% |
| Contributions | 10/11 | €1,800 | €1,800 | = | 0.0% |
| Reserves | 13 | €62,006 | €105,929 | +€43,922 | +70.8% |
| Distributable reserves | 133 | €62,006 | €105,929 | +€43,922 | +70.8% |
| Amounts payable | 17/49 | €146,519 | €132,914 | -€13,605 | -9.3% |
| Amounts payable within one year | 42/48 | €145,569 | €131,926 | -€13,643 | -9.4% |
| Trade debts | 44 | €672 | €2,692 | +€2,020 | +301% |
| Suppliers | 440/4 | €672 | €2,692 | +€2,020 | +301% |
| Taxes, remuneration and social security | 45 | €25,558 | €18,599 | -€6,959 | -27.2% |
| Taxes | 450/3 | €25,558 | €18,599 | -€6,959 | -27.2% |
| Other amounts payable | 47/48 | €119,338 | €110,635 | -€8,704 | -7.3% |
| Accrued charges and deferred income | 492/3 | €950 | €988 | +€38 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,182 | €13,381 | +€2,199 | +19.7% |
| Other operating charges | 640/8 | €684 | €795 | +€111 | +16.3% |
| Gross operating margin | 9900 | €89,870 | €70,923 | -€18,947 | -21.1% |
| Operating profit (loss) | 9901 | €78,004 | €56,748 | -€21,257 | -27.3% |
| Financial charges | 65/66B | €34 | €129 | +€95 | +276% |
| Recurring financial charges | 65 | €34 | €129 | +€95 | +276% |
| Profit (loss) for the period before taxes | 9903 | €77,970 | €56,618 | -€21,352 | -27.4% |
| Income taxes | 67/77 | €15,963 | €12,696 | -€3,268 | -20.5% |
| Profit (loss) for the period | 9904 | €62,006 | €43,922 | -€18,084 | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €62,006 | €43,922 | -€18,084 | -29.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.