DONCKERS RAF: 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.
DONCKERS RAF
Largest movements
- Current investments -€350,461
down €350,461 (-94.7%), from €370,186 to €19,725
- Receivables within one year +€183,087
up €183,087 (+504%), from €36,311 to €219,398
of which Other amounts receivable: +€193,622
- Tangible fixed assets -€102,129
down €102,129 (-94.3%), from €108,284 to €6,155
of which Furniture and vehicles: -€100,683
- Cash +€69,128
up €69,128 (+269%), from €25,711 to €94,839
mainly Current investments (+€350,461) and Investment in fixed assets (net) (+€99,351)
- Reserves -€165,703
down €165,703 (-33.6%), from €493,600 to €327,897
- Debts after one year -€17,550
no longer reported in 2025 (was €17,550)
- Profit (loss) carried forward -€12,945
new in 2025: -€12,945
- Gross operating margin -€21,654
down €21,654 (-90.0%), from €24,065 to €2,411
- Financial income +€21,354
up €21,354 (+180%), from €11,849 to €33,204
- Depreciation -€15,531
down €15,531 (-84.8%), from €18,308 to €2,778
- Taxes -€4,771
down €4,771 (-94.7%), from €5,041 to €269
- Financial charges +€1,471
up €1,471 (+95.9%), from €1,535 to €3,006
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 | €541,362 | €340,230 | -€201,132 | -37.2% |
| Fixed assets | 21/28 | €108,284 | €6,155 | -€102,129 | -94.3% |
| Tangible fixed assets | 22/27 | €108,284 | €6,155 | -€102,129 | -94.3% |
| Plant, machinery and equipment | 23 | €3,677 | €2,918 | -€759 | -20.6% |
| Furniture and vehicles | 24 | €103,131 | €2,447 | -€100,683 | -97.6% |
| Other tangible fixed assets | 26 | €1,477 | €790 | -€687 | -46.5% |
| Current assets | 29/58 | €433,078 | €334,075 | -€99,003 | -22.9% |
| Amounts receivable within one year | 40/41 | €36,311 | €219,398 | +€183,087 | +504% |
| Trade receivables | 40 | €10,534 | - | -€10,534 | |
| Other amounts receivable | 41 | €25,777 | €219,398 | +€193,622 | +751% |
| Current investments | 50/53 | €370,186 | €19,725 | -€350,461 | -94.7% |
| Cash at bank and in hand | 54/58 | €25,711 | €94,839 | +€69,128 | +269% |
| Deferred charges and accrued income | 490/1 | €870 | €113 | -€757 | -87.0% |
| Total equity and liabilities | 10/49 | €541,362 | €340,230 | -€201,132 | -37.2% |
| Equity | 10/15 | €512,200 | €333,552 | -€178,647 | -34.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €493,600 | €327,897 | -€165,703 | -33.6% |
| Distributable reserves | 133 | €493,600 | €327,897 | -€165,703 | -33.6% |
| Profit (loss) carried forward | 14 | - | -€12,945 | -€12,945 | |
| Amounts payable | 17/49 | €29,163 | €6,678 | -€22,485 | -77.1% |
| Amounts payable after more than one year | 17 | €17,550 | - | -€17,550 | |
| Financial debts | 170/4 | €17,550 | - | -€17,550 | |
| Amounts payable within one year | 42/48 | €11,613 | €6,678 | -€4,935 | -42.5% |
| Current portion of amounts payable after more than one year | 42 | €5,055 | - | -€5,055 | |
| Trade debts | 44 | €1,489 | €311 | -€1,179 | -79.1% |
| Suppliers | 440/4 | €1,489 | €311 | -€1,179 | -79.1% |
| Taxes, remuneration and social security | 45 | €2,358 | €6,367 | +€4,008 | +170% |
| Taxes | 450/3 | €58 | €6,367 | +€6,308 | +10,804% |
| Remuneration and social security | 454/9 | €2,300 | - | -€2,300 | |
| Other amounts payable | 47/48 | €2,710 | - | -€2,710 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,308 | €2,778 | -€15,531 | -84.8% |
| Other operating charges | 640/8 | €1,241 | €933 | -€308 | -24.8% |
| Non-recurring operating charges | 66A | - | €48,996 | +€48,996 | |
| Gross operating margin | 9900 | €24,065 | €2,411 | -€21,654 | -90.0% |
| Operating profit (loss) | 9901 | €4,515 | -€50,296 | -€54,811 | |
| Financial income | 75/76B | €11,849 | €33,204 | +€21,354 | +180% |
| Recurring financial income | 75 | €11,849 | €33,204 | +€21,354 | +180% |
| Financial charges | 65/66B | €1,535 | €3,006 | +€1,471 | +95.9% |
| Recurring financial charges | 65 | €1,535 | €3,006 | +€1,471 | +95.9% |
| Profit (loss) for the period before taxes | 9903 | €14,830 | -€20,099 | -€34,928 | |
| Income taxes | 67/77 | €5,041 | €269 | -€4,771 | -94.7% |
| Profit (loss) for the period | 9904 | €9,789 | -€20,368 | -€30,157 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,789 | -€20,368 | -€30,157 |
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 26 October 2026 via checked.be.