R.A.P.: 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.
R.A.P.
Largest movements
- Receivables within one year -€15,825
down €15,825 (-6.0%), from €263,041 to €247,216
of which Other amounts receivable: -€17,751
- Advances received -€41,271
no longer reported in 2025 (was €41,271)
- Other debts +€20,332
up €20,332 (+22.8%), from €89,111 to €109,443
- Current portion of long-term debt -€16,039
no longer reported in 2025 (was €16,039)
- Profit (loss) carried forward +€14,964
up €14,964, from -€8,691 to €6,272
- Gross operating margin +€23,472
up €23,472, from -€12,980 to €10,492
- Taxes +€459
up €459 (+263%), from €174 to €633
- Other operating charges -€340
down €340 (-83.6%), from €407 to €67
- Financial charges +€325
up €325 (+33.4%), from €975 to €1,301
- Financial income -€206
down €206 (-3.1%), from €6,678 to €6,472
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 | €692,769 | €676,522 | -€16,247 | -2.3% |
| Fixed assets | 21/28 | €422,769 | €421,728 | -€1,041 | -0.2% |
| Financial fixed assets | 28 | €422,769 | €421,728 | -€1,041 | -0.2% |
| Current assets | 29/58 | €270,001 | €254,795 | -€15,206 | -5.6% |
| Stocks and contracts in progress | 3 | €1,853 | €1,270 | -€583 | -31.5% |
| Stocks | 30/36 | €1,853 | €1,270 | -€583 | -31.5% |
| Amounts receivable within one year | 40/41 | €263,041 | €247,216 | -€15,825 | -6.0% |
| Trade receivables | 40 | €1,098 | €3,025 | +€1,927 | +175% |
| Other amounts receivable | 41 | €261,942 | €244,191 | -€17,751 | -6.8% |
| Cash at bank and in hand | 54/58 | €4,997 | €6,195 | +€1,197 | +24.0% |
| Deferred charges and accrued income | 490/1 | €110 | €114 | +€4 | +4.0% |
| Total equity and liabilities | 10/49 | €692,769 | €676,522 | -€16,247 | -2.3% |
| Equity | 10/15 | €531,347 | €546,311 | +€14,964 | +2.8% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €515,249 | €515,249 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Distributable reserves | 133 | €512,770 | €512,770 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,691 | €6,272 | +€14,964 | |
| Amounts payable | 17/49 | €161,422 | €130,212 | -€31,211 | -19.3% |
| Amounts payable within one year | 42/48 | €161,422 | €124,662 | -€36,760 | -22.8% |
| Current portion of amounts payable after more than one year | 42 | €16,039 | - | -€16,039 | |
| Trade debts | 44 | €3,133 | €2,083 | -€1,050 | -33.5% |
| Suppliers | 440/4 | €3,133 | €2,083 | -€1,050 | -33.5% |
| Advances received on contracts in progress | 46 | €41,271 | - | -€41,271 | |
| Taxes, remuneration and social security | 45 | €11,867 | €13,135 | +€1,268 | +10.7% |
| Taxes | 450/3 | €11,867 | €13,135 | +€1,268 | +10.7% |
| Other amounts payable | 47/48 | €89,111 | €109,443 | +€20,332 | +22.8% |
| Accrued charges and deferred income | 492/3 | - | €5,550 | +€5,550 | |
| Other operating charges | 640/8 | €407 | €67 | -€340 | -83.6% |
| Gross operating margin | 9900 | -€12,980 | €10,492 | +€23,472 | |
| Operating profit (loss) | 9901 | -€13,387 | €10,425 | +€23,812 | |
| Financial income | 75/76B | €6,678 | €6,472 | -€206 | -3.1% |
| Recurring financial income | 75 | €6,678 | €6,472 | -€206 | -3.1% |
| Financial charges | 65/66B | €975 | €1,301 | +€325 | +33.4% |
| Recurring financial charges | 65 | €975 | €1,301 | +€325 | +33.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,684 | €15,597 | +€23,281 | |
| Income taxes | 67/77 | €174 | €633 | +€459 | +263% |
| Profit (loss) for the period | 9904 | -€7,858 | €14,964 | +€22,822 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,858 | €14,964 | +€22,822 |
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 30 October 2026 via checked.be.