R.A.P. Construct: what changed
R.A.P. Construct
Largest movements
- Receivables within one year -€10,473
down €10,473 (-35.0%), from €29,906 to €19,433
of which Trade receivables: -€12,087
- Stocks and contracts -€7,614
down €7,614 (-100%), from €7,614 to €0
- Cash -€6,471
down €6,471 (-16.9%), from €38,342 to €31,871
mainly Tax, wage and social debts (-€23,210) and Trade debts (-€18,309)
- Tax, wage and social debts -€23,210
down €23,210 (-87.9%), from €26,409 to €3,199
of which Remuneration and social security: -€21,712
- Trade debts -€18,309
down €18,309 (-99.2%), from €18,458 to €149
- Profit (loss) carried forward +€15,023
up €15,023, from -€15,023 to €0
- Reserves +€1,937
up €1,937 (+7.7%), from €25,018 to €26,955
- Gross operating margin -€49,901
down €49,901 (-26.9%), from €185,539 to €135,638
- Staff costs -€45,513
down €45,513 (-28.4%), from €160,504 to €114,990
- Taxes +€3,199
new in 2025: €3,199
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €75,862 | €51,303 | -€24,559 | -32.4% |
| Current assets | 29/58 | €75,862 | €51,303 | -€24,559 | -32.4% |
| Stocks and contracts in progress | 3 | €7,614 | €0 | -€7,614 | -100% |
| Stocks | 30/36 | €7,614 | €0 | -€7,614 | -100% |
| Amounts receivable within one year | 40/41 | €29,906 | €19,433 | -€10,473 | -35.0% |
| Trade receivables | 40 | €29,906 | €17,819 | -€12,087 | -40.4% |
| Other amounts receivable | 41 | - | €1,614 | +€1,614 | |
| Cash at bank and in hand | 54/58 | €38,342 | €31,871 | -€6,471 | -16.9% |
| Total equity and liabilities | 10/49 | €75,862 | €51,303 | -€24,559 | -32.4% |
| Equity | 10/15 | €30,995 | €47,955 | +€16,960 | +54.7% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €25,018 | €26,955 | +€1,937 | +7.7% |
| Distributable reserves | 133 | €25,018 | €26,955 | +€1,937 | +7.7% |
| Profit (loss) carried forward | 14 | -€15,023 | €0 | +€15,023 | |
| Amounts payable | 17/49 | €44,867 | €3,348 | -€41,519 | -92.5% |
| Amounts payable within one year | 42/48 | €44,867 | €3,348 | -€41,519 | -92.5% |
| Trade debts | 44 | €18,458 | €149 | -€18,309 | -99.2% |
| Suppliers | 440/4 | €18,458 | €149 | -€18,309 | -99.2% |
| Taxes, remuneration and social security | 45 | €26,409 | €3,199 | -€23,210 | -87.9% |
| Taxes | 450/3 | €4,697 | €3,199 | -€1,498 | -31.9% |
| Remuneration and social security | 454/9 | €21,712 | €0 | -€21,712 | -100% |
| Remuneration, social security and pensions | 62 | €160,504 | €114,990 | -€45,513 | -28.4% |
| Other operating charges | 640/8 | €2,098 | €453 | -€1,645 | -78.4% |
| Gross operating margin | 9900 | €185,539 | €135,638 | -€49,901 | -26.9% |
| Operating profit (loss) | 9901 | €22,937 | €20,195 | -€2,743 | -12.0% |
| Financial charges | 65/66B | €253 | €35 | -€218 | -86.1% |
| Recurring financial charges | 65 | €253 | €35 | -€218 | -86.1% |
| Profit (loss) for the period before taxes | 9903 | €22,684 | €20,159 | -€2,525 | -11.1% |
| Income taxes | 67/77 | - | €3,199 | +€3,199 | |
| Profit (loss) for the period | 9904 | €22,684 | €16,960 | -€5,724 | -25.2% |
| Profit (loss) for the period to be appropriated | 9905 | €22,684 | €16,960 | -€5,724 | -25.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.