EL RASS: 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.
EL RASS
Largest movements
- Receivables within one year +€47,429
up €47,429 (+6.4%), from €736,559 to €783,989
of which Other amounts receivable: +€48,935
- Reserves +€45,969
up €45,969 (+5.6%), from €827,291 to €873,260
of which Distributable reserves: +€45,969
- Trade debts -€9,452
down €9,452 (-42.5%), from €22,213 to €12,762
- Gross operating margin -€20,821
down €20,821 (-16.8%), from €123,606 to €102,784
- Staff costs -€11,158
down €11,158 (-24.6%), from €45,345 to €34,187
- Depreciation -€4,016
down €4,016 (-65.1%), from €6,168 to €2,151
- Taxes -€1,965
down €1,965 (-9.9%), from €19,948 to €17,983
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 | €888,368 | €925,904 | +€37,536 | +4.2% |
| Fixed assets | 21/28 | €10,058 | €7,906 | -€2,151 | -21.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €9,783 | €7,631 | -€2,151 | -22.0% |
| Furniture and vehicles | 24 | €5,290 | €3,666 | -€1,623 | -30.7% |
| Other tangible fixed assets | 26 | €4,493 | €3,965 | -€528 | -11.8% |
| Financial fixed assets | 28 | €275 | €275 | = | 0.0% |
| Current assets | 29/58 | €878,310 | €917,998 | +€39,688 | +4.5% |
| Stocks and contracts in progress | 3 | €94,460 | €95,090 | +€630 | +0.7% |
| Stocks | 30/36 | €94,460 | €95,090 | +€630 | +0.7% |
| Amounts receivable within one year | 40/41 | €736,559 | €783,989 | +€47,429 | +6.4% |
| Trade receivables | 40 | €17,402 | €15,896 | -€1,506 | -8.7% |
| Other amounts receivable | 41 | €719,157 | €768,093 | +€48,935 | +6.8% |
| Cash at bank and in hand | 54/58 | €46,053 | €37,622 | -€8,432 | -18.3% |
| Deferred charges and accrued income | 490/1 | €1,238 | €1,298 | +€59 | +4.8% |
| Total equity and liabilities | 10/49 | €888,368 | €925,904 | +€37,536 | +4.2% |
| Equity | 10/15 | €845,883 | €891,852 | +€45,969 | +5.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €827,291 | €873,260 | +€45,969 | +5.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €825,432 | €871,401 | +€45,969 | +5.6% |
| Amounts payable | 17/49 | €42,485 | €34,052 | -€8,433 | -19.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €42,485 | €34,052 | -€8,433 | -19.8% |
| Current portion of amounts payable after more than one year | 42 | €6,045 | €8,383 | +€2,338 | +38.7% |
| Trade debts | 44 | €22,213 | €12,762 | -€9,452 | -42.5% |
| Suppliers | 440/4 | €22,213 | €12,762 | -€9,452 | -42.5% |
| Taxes, remuneration and social security | 45 | €14,226 | €12,907 | -€1,319 | -9.3% |
| Taxes | 450/3 | €5,981 | €6,012 | +€31 | +0.5% |
| Remuneration and social security | 454/9 | €8,245 | €6,895 | -€1,350 | -16.4% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | €45,345 | €34,187 | -€11,158 | -24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,168 | €2,151 | -€4,016 | -65.1% |
| Other operating charges | 640/8 | €140 | €67 | -€74 | -52.5% |
| Gross operating margin | 9900 | €123,606 | €102,784 | -€20,821 | -16.8% |
| Operating profit (loss) | 9901 | €71,953 | €66,379 | -€5,574 | -7.7% |
| Financial charges | 65/66B | €2,491 | €2,427 | -€64 | -2.6% |
| Recurring financial charges | 65 | €2,491 | €2,427 | -€64 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €69,462 | €63,952 | -€5,509 | -7.9% |
| Income taxes | 67/77 | €19,948 | €17,983 | -€1,965 | -9.9% |
| Profit (loss) for the period | 9904 | €49,514 | €45,969 | -€3,544 | -7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €49,514 | €45,969 | -€3,544 | -7.2% |
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 1 November 2026 via checked.be.