Knuts Raf: 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.
Knuts Raf
Largest movements
- Tangible fixed assets -€6,986
down €6,986 (-78.9%), from €8,855 to €1,869
of which Plant, machinery and equipment: -€6,334
- Receivables within one year +€5,469
up €5,469 (+114%), from €4,817 to €10,286
of which Trade receivables: +€6,130
- Cash -€2,360
down €2,360 (-9.0%), from €26,284 to €23,924
mainly Net result for the year (-€5,898) and Receivables within one year (-€5,469)
- Stocks and contracts -€1,565
no longer reported in 2025 (was €1,565)
- Profit (loss) carried forward -€5,898
new in 2025: -€5,898
- Trade debts +€1,499
up €1,499 (+175%), from €856 to €2,355
- Tax, wage and social debts -€981
down €981 (-54.7%), from €1,794 to €813
- Gross operating margin -€20,103
down €20,103, from €16,118 to -€3,984
- Depreciation -€4,298
down €4,298 (-82.5%), from €5,209 to €912
- Taxes -€1,716
down €1,716 (-92.4%), from €1,858 to €142
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 | €43,438 | €38,058 | -€5,380 | -12.4% |
| Fixed assets | 21/28 | €8,855 | €1,869 | -€6,986 | -78.9% |
| Tangible fixed assets | 22/27 | €8,855 | €1,869 | -€6,986 | -78.9% |
| Plant, machinery and equipment | 23 | €8,203 | €1,869 | -€6,334 | -77.2% |
| Furniture and vehicles | 24 | €652 | €0 | -€652 | -100.0% |
| Current assets | 29/58 | €34,583 | €36,189 | +€1,606 | +4.6% |
| Stocks and contracts in progress | 3 | €1,565 | - | -€1,565 | |
| Stocks | 30/36 | €1,565 | - | -€1,565 | |
| Amounts receivable within one year | 40/41 | €4,817 | €10,286 | +€5,469 | +114% |
| Trade receivables | 40 | €2,403 | €8,532 | +€6,130 | +255% |
| Other amounts receivable | 41 | €2,414 | €1,754 | -€660 | -27.3% |
| Cash at bank and in hand | 54/58 | €26,284 | €23,924 | -€2,360 | -9.0% |
| Deferred charges and accrued income | 490/1 | €1,917 | €1,979 | +€62 | +3.2% |
| Total equity and liabilities | 10/49 | €43,438 | €38,058 | -€5,380 | -12.4% |
| Equity | 10/15 | €40,788 | €34,891 | -€5,898 | -14.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €22,188 | €22,188 | = | 0.0% |
| Distributable reserves | 133 | €22,188 | €22,188 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€5,898 | -€5,898 | |
| Amounts payable | 17/49 | €2,650 | €3,167 | +€518 | +19.5% |
| Amounts payable within one year | 42/48 | €2,650 | €3,167 | +€518 | +19.5% |
| Trade debts | 44 | €856 | €2,355 | +€1,499 | +175% |
| Suppliers | 440/4 | €856 | €2,355 | +€1,499 | +175% |
| Taxes, remuneration and social security | 45 | €1,794 | €813 | -€981 | -54.7% |
| Taxes | 450/3 | €1,794 | €813 | -€981 | -54.7% |
| Non-recurring operating income | 76A | €3,750 | €1,176 | -€2,574 | -68.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,209 | €912 | -€4,298 | -82.5% |
| Other operating charges | 640/8 | €943 | €956 | +€12 | +1.3% |
| Gross operating margin | 9900 | €16,118 | -€3,984 | -€20,103 | |
| Operating profit (loss) | 9901 | €9,966 | -€5,852 | -€15,817 | |
| Financial income | 75/76B | €217 | €186 | -€31 | -14.4% |
| Recurring financial income | 75 | €217 | €186 | -€31 | -14.4% |
| Financial charges | 65/66B | €93 | €90 | -€3 | -3.2% |
| Recurring financial charges | 65 | €93 | €90 | -€3 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €10,090 | -€5,756 | -€15,846 | |
| Income taxes | 67/77 | €1,858 | €142 | -€1,716 | -92.4% |
| Profit (loss) for the period | 9904 | €8,232 | -€5,898 | -€14,129 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,232 | -€5,898 | -€14,129 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.