Els Raemdonck Procurement Projects: 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.
Els Raemdonck Procurement Projects
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Cash -€9,176
down €9,176 (-19.1%), from €48,050 to €38,874
mainly Current investments (-€50,000) and Trade debts (-€1,507)
- Tangible fixed assets -€3,082
down €3,082 (-31.7%), from €9,723 to €6,642
- Reserves +€74,772
new in 2025: €74,772
- Profit (loss) carried forward -€52,012
down €52,012 (-100%), from €52,012 to €0
- Tax, wage and social debts +€13,382
up €13,382 (+66.3%), from €20,172 to €33,554
- Other debts +€2,463
new in 2025: €2,463
- Trade debts -€1,507
down €1,507 (-27.6%), from €5,463 to €3,956
- Gross operating margin -€51,220
down €51,220 (-54.4%), from €94,210 to €42,991
- Depreciation -€9,515
down €9,515 (-75.5%), from €12,597 to €3,082
- Taxes -€6,772
down €6,772 (-39.3%), from €17,251 to €10,480
- Other operating charges +€2,360
up €2,360 (+69.6%), from €3,392 to €5,753
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 | €78,697 | €116,504 | +€37,807 | +48.0% |
| Fixed assets | 21/28 | €9,723 | €6,642 | -€3,082 | -31.7% |
| Tangible fixed assets | 22/27 | €9,723 | €6,642 | -€3,082 | -31.7% |
| Plant, machinery and equipment | 23 | €9,723 | €6,642 | -€3,082 | -31.7% |
| Current assets | 29/58 | €68,973 | €109,862 | +€40,889 | +59.3% |
| Amounts receivable within one year | 40/41 | €20,924 | €20,373 | -€551 | -2.6% |
| Trade receivables | 40 | €16,819 | €16,940 | +€121 | +0.7% |
| Other amounts receivable | 41 | €4,105 | €3,433 | -€672 | -16.4% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €48,050 | €38,874 | -€9,176 | -19.1% |
| Deferred charges and accrued income | 490/1 | - | €616 | +€616 | |
| Total equity and liabilities | 10/49 | €78,697 | €116,504 | +€37,807 | +48.0% |
| Equity | 10/15 | €53,012 | €75,772 | +€22,760 | +42.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €74,772 | +€74,772 | |
| Distributable reserves | 133 | - | €74,772 | +€74,772 | |
| Profit (loss) carried forward | 14 | €52,012 | €0 | -€52,012 | -100% |
| Amounts payable | 17/49 | €25,685 | €40,732 | +€15,047 | +58.6% |
| Amounts payable within one year | 42/48 | €25,685 | €40,732 | +€15,047 | +58.6% |
| Financial debts | 43 | €50 | €759 | +€709 | +1,418% |
| Credit institutions | 430/8 | €50 | €759 | +€709 | +1,418% |
| Trade debts | 44 | €5,463 | €3,956 | -€1,507 | -27.6% |
| Suppliers | 440/4 | €5,463 | €3,956 | -€1,507 | -27.6% |
| Taxes, remuneration and social security | 45 | €20,172 | €33,554 | +€13,382 | +66.3% |
| Taxes | 450/3 | €20,172 | €33,554 | +€13,382 | +66.3% |
| Other amounts payable | 47/48 | - | €2,463 | +€2,463 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,597 | €3,082 | -€9,515 | -75.5% |
| Other operating charges | 640/8 | €3,392 | €5,753 | +€2,360 | +69.6% |
| Gross operating margin | 9900 | €94,210 | €42,991 | -€51,220 | -54.4% |
| Operating profit (loss) | 9901 | €78,221 | €34,156 | -€44,065 | -56.3% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €124 | €86 | -€38 | -30.4% |
| Recurring financial charges | 65 | €124 | €86 | -€38 | -30.4% |
| Profit (loss) for the period before taxes | 9903 | €78,096 | €34,073 | -€44,024 | -56.4% |
| Income taxes | 67/77 | €17,251 | €10,480 | -€6,772 | -39.3% |
| Profit (loss) for the period | 9904 | €60,845 | €23,593 | -€37,252 | -61.2% |
| Profit (loss) for the period to be appropriated | 9905 | €60,845 | €23,593 | -€37,252 | -61.2% |
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 20 October 2026 via checked.be.