Kris Raes: 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.
Kris Raes
Largest movements
- Cash -€12,436
down €12,436 (-63.5%), from €19,597 to €7,161
mainly Tax, wage and social debts (-€11,106) and Net result for the year (-€5,804)
- Receivables within one year +€1,152
up €1,152 (+38.1%), from €3,022 to €4,174
of which Other amounts receivable: +€1,824
- Tangible fixed assets +€726
up €726 (+6.1%), from €11,882 to €12,608
of which Furniture and vehicles: +€3,690
- Tax, wage and social debts -€11,106
down €11,106 (-98.4%), from €11,286 to €181
- Trade debts +€6,564
up €6,564 (+817%), from €804 to €7,368
- Reserves -€5,804
down €5,804 (-28.9%), from €20,052 to €14,247
- Other debts -€859
no longer reported in 2025 (was €859)
- Short-term financial debts +€646
new in 2025: €646
- Gross operating margin -€33,164
down €33,164 (-76.9%), from €43,104 to €9,940
- Taxes -€6,615
down €6,615 (-97.3%), from €6,796 to €181
- Other operating charges +€580
up €580 (+163%), from €356 to €937
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 | €34,501 | €23,943 | -€10,558 | -30.6% |
| Fixed assets | 21/28 | €11,882 | €12,608 | +€726 | +6.1% |
| Tangible fixed assets | 22/27 | €11,882 | €12,608 | +€726 | +6.1% |
| Land and buildings | 22 | €8,384 | €6,287 | -€2,098 | -25.0% |
| Plant, machinery and equipment | 23 | €3,465 | €2,598 | -€867 | -25.0% |
| Furniture and vehicles | 24 | €33 | €3,723 | +€3,690 | +11,084% |
| Current assets | 29/58 | €22,619 | €11,335 | -€11,284 | -49.9% |
| Amounts receivable within one year | 40/41 | €3,022 | €4,174 | +€1,152 | +38.1% |
| Trade receivables | 40 | €672 | - | -€672 | |
| Other amounts receivable | 41 | €2,350 | €4,174 | +€1,824 | +77.6% |
| Cash at bank and in hand | 54/58 | €19,597 | €7,161 | -€12,436 | -63.5% |
| Total equity and liabilities | 10/49 | €34,501 | €23,943 | -€10,558 | -30.6% |
| Equity | 10/15 | €21,552 | €15,747 | -€5,804 | -26.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €20,052 | €14,247 | -€5,804 | -28.9% |
| Distributable reserves | 133 | €20,052 | €14,247 | -€5,804 | -28.9% |
| Amounts payable | 17/49 | €12,949 | €8,195 | -€4,754 | -36.7% |
| Amounts payable within one year | 42/48 | €12,949 | €8,195 | -€4,754 | -36.7% |
| Financial debts | 43 | - | €646 | +€646 | |
| Credit institutions | 430/8 | - | €646 | +€646 | |
| Trade debts | 44 | €804 | €7,368 | +€6,564 | +817% |
| Suppliers | 440/4 | €804 | €7,368 | +€6,564 | +817% |
| Taxes, remuneration and social security | 45 | €11,286 | €181 | -€11,106 | -98.4% |
| Taxes | 450/3 | €11,286 | €181 | -€11,106 | -98.4% |
| Other amounts payable | 47/48 | €859 | - | -€859 | |
| Remuneration, social security and pensions | 62 | €11,912 | €11,620 | -€292 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,990 | €3,074 | +€84 | +2.8% |
| Other operating charges | 640/8 | €356 | €937 | +€580 | +163% |
| Gross operating margin | 9900 | €43,104 | €9,940 | -€33,164 | -76.9% |
| Operating profit (loss) | 9901 | €27,845 | -€5,691 | -€33,536 | |
| Financial income | 75/76B | - | €167 | +€167 | |
| Recurring financial income | 75 | - | €167 | +€167 | |
| Financial charges | 65/66B | €139 | €100 | -€39 | -28.2% |
| Recurring financial charges | 65 | €139 | €100 | -€39 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | €27,706 | -€5,624 | -€33,330 | |
| Income taxes | 67/77 | €6,796 | €181 | -€6,615 | -97.3% |
| Profit (loss) for the period | 9904 | €20,911 | -€5,804 | -€26,715 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,911 | -€5,804 | -€26,715 |
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 19 October 2026 via checked.be.