I.A.V. RAPHA: 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.
I.A.V. RAPHA
Largest movements
- Cash -€30,754
down €30,754 (-66.7%), from €46,106 to €15,352
mainly Tax, wage and social debts (-€20,928) and Other debts (-€11,950)
- Financial fixed assets +€5,000
up €5,000 (+168%), from €2,975 to €7,975
- Tangible fixed assets -€2,625
down €2,625 (-48.9%), from €5,362 to €2,737
- Tax, wage and social debts -€20,928
down €20,928 (-79.0%), from €26,487 to €5,559
of which Taxes: -€17,328
- Other debts -€11,950
down €11,950 (-85.1%), from €14,034 to €2,084
- Profit (loss) carried forward +€7,733
up €7,733 (+13.7%), from €56,528 to €64,261
- Trade debts -€4,063
down €4,063 (-57.2%), from €7,108 to €3,045
- Current portion of long-term debt +€1,393
up €1,393 (+148%), from €942 to €2,335
- Gross operating margin -€9,984
down €9,984 (-43.0%), from €23,232 to €13,247
- Taxes -€4,439
down €4,439 (-68.3%), from €6,500 to €2,061
- Staff costs -€736
down €736 (-83.6%), from €880 to €144
- Other operating charges -€674
down €674 (-76.7%), from €878 to €205
- Depreciation -€244
down €244 (-8.5%), from €2,868 to €2,625
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €108,645 | €80,254 | -€28,391 | -26.1% |
| Fixed assets | 21/28 | €8,337 | €10,712 | +€2,375 | +28.5% |
| Tangible fixed assets | 22/27 | €5,362 | €2,737 | -€2,625 | -48.9% |
| Furniture and vehicles | 24 | €5,362 | €2,737 | -€2,625 | -48.9% |
| Financial fixed assets | 28 | €2,975 | €7,975 | +€5,000 | +168% |
| Current assets | 29/58 | €100,308 | €69,542 | -€30,766 | -30.7% |
| Amounts receivable within one year | 40/41 | €53,210 | €54,190 | +€980 | +1.8% |
| Trade receivables | 40 | €45,629 | €46,609 | +€980 | +2.1% |
| Other amounts receivable | 41 | €7,581 | €7,581 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €46,106 | €15,352 | -€30,754 | -66.7% |
| Deferred charges and accrued income | 490/1 | €992 | - | -€992 | |
| Total equity and liabilities | 10/49 | €108,645 | €80,254 | -€28,391 | -26.1% |
| Equity | 10/15 | €59,498 | €67,231 | +€7,733 | +13.0% |
| Contributions | 10/11 | €2,700 | €2,700 | = | 0.0% |
| Reserves | 13 | €270 | €270 | = | 0.0% |
| Non-distributable reserves | 130/1 | €270 | €270 | = | 0.0% |
| Reserves not available under the articles | 1311 | €270 | €270 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,528 | €64,261 | +€7,733 | +13.7% |
| Amounts payable | 17/49 | €49,147 | €13,023 | -€36,124 | -73.5% |
| Amounts payable after more than one year | 17 | €576 | - | -€576 | |
| Financial debts | 170/4 | €576 | - | -€576 | |
| Amounts payable within one year | 42/48 | €48,570 | €13,023 | -€35,547 | -73.2% |
| Current portion of amounts payable after more than one year | 42 | €942 | €2,335 | +€1,393 | +148% |
| Trade debts | 44 | €7,108 | €3,045 | -€4,063 | -57.2% |
| Suppliers | 440/4 | €7,108 | €3,045 | -€4,063 | -57.2% |
| Taxes, remuneration and social security | 45 | €26,487 | €5,559 | -€20,928 | -79.0% |
| Taxes | 450/3 | €22,852 | €5,525 | -€17,328 | -75.8% |
| Remuneration and social security | 454/9 | €3,635 | €35 | -€3,600 | -99.0% |
| Other amounts payable | 47/48 | €14,034 | €2,084 | -€11,950 | -85.1% |
| Remuneration, social security and pensions | 62 | €880 | €144 | -€736 | -83.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,868 | €2,625 | -€244 | -8.5% |
| Other operating charges | 640/8 | €878 | €205 | -€674 | -76.7% |
| Gross operating margin | 9900 | €23,232 | €13,247 | -€9,984 | -43.0% |
| Operating profit (loss) | 9901 | €18,605 | €10,274 | -€8,331 | -44.8% |
| Financial income | 75/76B | €113 | - | -€113 | |
| Recurring financial income | 75 | €113 | - | -€113 | |
| Financial charges | 65/66B | €288 | €480 | +€192 | +66.7% |
| Recurring financial charges | 65 | €288 | €480 | +€192 | +66.7% |
| Profit (loss) for the period before taxes | 9903 | €18,430 | €9,794 | -€8,636 | -46.9% |
| Income taxes | 67/77 | €6,500 | €2,061 | -€4,439 | -68.3% |
| Profit (loss) for the period | 9904 | €11,930 | €7,733 | -€4,197 | -35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,930 | €7,733 | -€4,197 | -35.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.