GROUPE RAYEN: 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.
GROUPE RAYEN
Largest movements
- Current investments +€1.2m
up €1.2m (+58.7%), from €2.1m to €3.3m
- Cash -€384,057
down €384,057 (-23.6%), from €1.6m to €1.2m
mainly Current investments (-€1.2m) and Tax, wage and social debts (-€119,751)
- Reserves +€962,901
up €962,901 (+16.7%), from €5.8m to €6.7m
- Tax, wage and social debts -€119,751
down €119,751 (-58.6%), from €204,455 to €84,704
- Financial income -€470,352
down €470,352 (-30.3%), from €1.6m to €1.1m
- Taxes -€44,011
down €44,011 (-28.6%), from €154,007 to €109,996
- Financial charges +€21,552
up €21,552 (+2,834%), from €761 to €22,313
- Depreciation -€17,792
down €17,792 (-82.5%), from €21,575 to €3,783
- Gross operating margin -€13,901
down €13,901 (-38.7%), from €35,918 to €22,017
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 | €9,924,392 | €10,782,945 | +€858,553 | +8.7% |
| Fixed assets | 21/28 | €5,785,242 | €5,781,459 | -€3,783 | -0.1% |
| Tangible fixed assets | 22/27 | €3,783 | - | -€3,783 | |
| Furniture and vehicles | 24 | €3,783 | - | -€3,783 | |
| Financial fixed assets | 28 | €5,781,459 | €5,781,459 | = | 0.0% |
| Current assets | 29/58 | €4,139,150 | €5,001,486 | +€862,336 | +20.8% |
| Amounts receivable within one year | 40/41 | €447,546 | €473,881 | +€26,335 | +5.9% |
| Trade receivables | 40 | - | €20,118 | +€20,118 | |
| Other amounts receivable | 41 | €447,546 | €453,763 | +€6,218 | +1.4% |
| Current investments | 50/53 | €2,056,097 | €3,263,654 | +€1.2m | +58.7% |
| Cash at bank and in hand | 54/58 | €1,626,651 | €1,242,594 | -€384,057 | -23.6% |
| Deferred charges and accrued income | 490/1 | €8,856 | €21,356 | +€12,500 | +141% |
| Total equity and liabilities | 10/49 | €9,924,392 | €10,782,945 | +€858,553 | +8.7% |
| Equity | 10/15 | €8,297,533 | €9,260,434 | +€962,901 | +11.6% |
| Contributions | 10/11 | €2,536,459 | €2,536,459 | = | 0.0% |
| Reserves | 13 | €5,761,074 | €6,723,975 | +€962,901 | +16.7% |
| Distributable reserves | 133 | €5,761,074 | €6,723,975 | +€962,901 | +16.7% |
| Amounts payable | 17/49 | €1,626,858 | €1,522,511 | -€104,347 | -6.4% |
| Amounts payable within one year | 42/48 | €1,626,099 | €1,506,892 | -€119,207 | -7.3% |
| Trade debts | 44 | €338 | - | -€338 | |
| Suppliers | 440/4 | €338 | - | -€338 | |
| Taxes, remuneration and social security | 45 | €204,455 | €84,704 | -€119,751 | -58.6% |
| Taxes | 450/3 | €204,455 | €84,704 | -€119,751 | -58.6% |
| Other amounts payable | 47/48 | €1,421,306 | €1,422,188 | +€882 | +0.1% |
| Accrued charges and deferred income | 492/3 | €759 | €15,619 | +€14,859 | +1,957% |
| Remuneration, social security and pensions | 62 | €5,043 | - | -€5,043 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,575 | €3,783 | -€17,792 | -82.5% |
| Other operating charges | 640/8 | €4,695 | €4,798 | +€103 | +2.2% |
| Gross operating margin | 9900 | €35,918 | €22,017 | -€13,901 | -38.7% |
| Operating profit (loss) | 9901 | €4,606 | €13,436 | +€8,830 | +192% |
| Financial income | 75/76B | €1,552,126 | €1,081,774 | -€470,352 | -30.3% |
| Recurring financial income | 75 | €1,552,126 | €1,081,774 | -€470,352 | -30.3% |
| Financial charges | 65/66B | €761 | €22,313 | +€21,552 | +2,834% |
| Recurring financial charges | 65 | €761 | €22,313 | +€21,552 | +2,834% |
| Profit (loss) for the period before taxes | 9903 | €1,555,972 | €1,072,897 | -€483,075 | -31.0% |
| Income taxes | 67/77 | €154,007 | €109,996 | -€44,011 | -28.6% |
| Profit (loss) for the period | 9904 | €1,401,964 | €962,901 | -€439,064 | -31.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,401,964 | €962,901 | -€439,064 | -31.3% |
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 31 October 2026 via checked.be.