IMMO RAEDSCHELDERS: 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.
IMMO RAEDSCHELDERS
Largest movements
- Receivables after one year -€227,033
down €227,033 (-83.6%), from €271,486 to €44,453
- Current investments +€200,000
up €200,000, from €0 to €200,000
- Cash -€153,625
down €153,625 (-42.2%), from €364,298 to €210,674
mainly Current investments (-€200,000) and Net result for the year (-€127,887)
- Receivables within one year -€37,285
down €37,285 (-24.8%), from €150,228 to €112,943
- Tangible fixed assets -€36,323
down €36,323 (-3.0%), from €1.2m to €1.2m
- Profit (loss) carried forward -€127,887
down €127,887 (-638%), from -€20,031 to -€147,917
- Debts after one year -€119,210
down €119,210 (-9.0%), from €1.3m to €1.2m
of which Financial debts: -€120,000
- Accrued charges and deferred income -€20,273
down €20,273 (-18.5%), from €109,537 to €89,264
- Gross operating margin -€14,525
down €14,525 (-11.3%), from €128,797 to €114,272
- Financial charges -€11,345
down €11,345 (-10.4%), from €109,051 to €97,706
- Taxes -€10,282
down €10,282 (-100%), from €10,282 to €0
- Financial income -€2,958
down €2,958 (-30.4%), from €9,727 to €6,769
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 | €2,007,377 | €1,740,414 | -€266,963 | -13.3% |
| Fixed assets | 21/28 | €1,202,197 | €1,165,874 | -€36,323 | -3.0% |
| Tangible fixed assets | 22/27 | €1,201,637 | €1,165,314 | -€36,323 | -3.0% |
| Land and buildings | 22 | €1,201,637 | €1,165,314 | -€36,323 | -3.0% |
| Financial fixed assets | 28 | €560 | €560 | = | 0.0% |
| Current assets | 29/58 | €805,179 | €574,540 | -€230,640 | -28.6% |
| Amounts receivable after more than one year | 29 | €271,486 | €44,453 | -€227,033 | -83.6% |
| Other amounts receivable | 291 | €271,486 | €44,453 | -€227,033 | -83.6% |
| Amounts receivable within one year | 40/41 | €150,228 | €112,943 | -€37,285 | -24.8% |
| Other amounts receivable | 41 | €150,228 | €112,943 | -€37,285 | -24.8% |
| Current investments | 50/53 | €0 | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €364,298 | €210,674 | -€153,625 | -42.2% |
| Deferred charges and accrued income | 490/1 | €19,168 | €6,471 | -€12,697 | -66.2% |
| Total equity and liabilities | 10/49 | €2,007,377 | €1,740,414 | -€266,963 | -13.3% |
| Equity | 10/15 | €567,213 | €439,326 | -€127,887 | -22.5% |
| Contributions | 10/11 | €161,131 | €161,131 | = | 0.0% |
| Capital | 10 | €161,131 | €161,131 | = | 0.0% |
| Issued capital | 100 | €161,131 | €161,131 | = | 0.0% |
| Reserves | 13 | €426,113 | €426,113 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,113 | €16,113 | = | 0.0% |
| Legal reserve | 130 | €16,113 | €16,113 | = | 0.0% |
| Distributable reserves | 133 | €410,000 | €410,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,031 | -€147,917 | -€127,887 | -638% |
| Amounts payable | 17/49 | €1,440,164 | €1,301,088 | -€139,076 | -9.7% |
| Amounts payable after more than one year | 17 | €1,329,872 | €1,210,662 | -€119,210 | -9.0% |
| Financial debts | 170/4 | €1,318,409 | €1,198,409 | -€120,000 | -9.1% |
| Other amounts payable | 178/9 | €11,463 | €12,253 | +€790 | +6.9% |
| Amounts payable within one year | 42/48 | €754 | €1,162 | +€407 | +54.0% |
| Trade debts | 44 | €608 | €67 | -€541 | -89.0% |
| Suppliers | 440/4 | €608 | €67 | -€541 | -89.0% |
| Taxes, remuneration and social security | 45 | €147 | €0 | -€147 | -100% |
| Taxes | 450/3 | €147 | €0 | -€147 | -100% |
| Other amounts payable | 47/48 | - | €1,095 | +€1,095 | |
| Accrued charges and deferred income | 492/3 | €109,537 | €89,264 | -€20,273 | -18.5% |
| Non-recurring operating income | 76A | €113 | €0 | -€113 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,501 | €36,323 | +€822 | +2.3% |
| Other operating charges | 640/8 | €12,350 | €12,583 | +€233 | +1.9% |
| Non-recurring operating charges | 66A | - | €102,316 | +€102,316 | |
| Gross operating margin | 9900 | €128,797 | €114,272 | -€14,525 | -11.3% |
| Operating profit (loss) | 9901 | €80,946 | -€36,950 | -€117,896 | |
| Financial income | 75/76B | €9,727 | €6,769 | -€2,958 | -30.4% |
| Recurring financial income | 75 | €9,727 | €6,769 | -€2,958 | -30.4% |
| Financial charges | 65/66B | €109,051 | €97,706 | -€11,345 | -10.4% |
| Recurring financial charges | 65 | €109,051 | €97,706 | -€11,345 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | -€18,378 | -€127,887 | -€109,509 | -596% |
| Income taxes | 67/77 | €10,282 | €0 | -€10,282 | -100% |
| Profit (loss) for the period | 9904 | -€28,660 | -€127,887 | -€99,227 | -346% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,660 | -€127,887 | -€99,227 | -346% |
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 27 October 2026 via checked.be.