RA.C: what changed
Two fiscal 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.
RA.C
Largest movements
- Current investments +€78,641
new in 2025: €78,641
- Receivables within one year +€39,809
up €39,809 (+4502.3%), from €884 to €40,693
of which Trade receivables: +€40,499
- Cash -€38,865
down €38,865 (-16.2%), from €239,482 to €200,618
mainly Current investments (-€78,641) and Receivables within one year (-€39,809)
- Other debts +€69,034
up €69,034 (+26.2%), from €263,618 to €332,651
- Profit (loss) carried forward +€11,048
up €11,048 (+30.9%), from -€35,716 to -€24,668
- Gross operating margin -€40,104
down €40,104 (-70.9%), from €56,564 to €16,460
- Financial income -€5,822
no longer reported in 2025 (was €5,822)
- Depreciation -€2,604
down €2,604 (-68.8%), from €3,786 to €1,182
- Financial charges +€2,258
up €2,258 (+559.2%), from €404 to €2,662
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.
Cash bridge derived
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 | €244,192 | €322,618 | +€78,425 | +32.1% |
| Fixed assets | 21/28 | €3,037 | €1,855 | -€1,182 | -38.9% |
| Tangible fixed assets | 22/27 | €3,037 | €1,855 | -€1,182 | -38.9% |
| Furniture and vehicles | 24 | €3,037 | €1,855 | -€1,182 | -38.9% |
| Current assets | 29/58 | €241,155 | €320,762 | +€79,607 | +33.0% |
| Amounts receivable within one year | 40/41 | €884 | €40,693 | +€39,809 | +4502.3% |
| Trade receivables | 40 | - | €40,499 | +€40,499 | |
| Other amounts receivable | 41 | €884 | €194 | -€690 | -78.1% |
| Current investments | 50/53 | - | €78,641 | +€78,641 | |
| Cash at bank and in hand | 54/58 | €239,482 | €200,618 | -€38,865 | -16.2% |
| Deferred charges and accrued income | 490/1 | €788 | €811 | +€23 | +2.9% |
| Total equity and liabilities | 10/49 | €244,192 | €322,618 | +€78,425 | +32.1% |
| Equity | 10/15 | -€21,475 | -€10,427 | +€11,048 | +51.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €9,240 | €9,240 | = | 0.0% |
| Distributable reserves | 133 | €9,240 | €9,240 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,716 | -€24,668 | +€11,048 | +30.9% |
| Amounts payable | 17/49 | €265,667 | €333,045 | +€67,378 | +25.4% |
| Amounts payable within one year | 42/48 | €265,667 | €333,045 | +€67,378 | +25.4% |
| Trade debts | 44 | €1,692 | €26 | -€1,666 | -98.5% |
| Suppliers | 440/4 | €1,692 | €26 | -€1,666 | -98.5% |
| Taxes, remuneration and social security | 45 | €357 | €368 | +€10 | +2.9% |
| Taxes | 450/3 | €357 | €368 | +€10 | +2.9% |
| Other amounts payable | 47/48 | €263,618 | €332,651 | +€69,034 | +26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,786 | €1,182 | -€2,604 | -68.8% |
| Other operating charges | 640/8 | €1,212 | €1,201 | -€11 | -0.9% |
| Gross operating margin | 9900 | €56,564 | €16,460 | -€40,104 | -70.9% |
| Operating profit (loss) | 9901 | €51,566 | €14,077 | -€37,489 | -72.7% |
| Financial income | 75/76B | €5,822 | - | -€5,822 | |
| Recurring financial income | 75 | €5,822 | - | -€5,822 | |
| Financial charges | 65/66B | €404 | €2,662 | +€2,258 | +559.2% |
| Recurring financial charges | 65 | €404 | €2,662 | +€2,258 | +559.2% |
| Profit (loss) for the period before taxes | 9903 | €56,985 | €11,415 | -€45,569 | -80.0% |
| Income taxes | 67/77 | €357 | €368 | +€10 | +2.9% |
| Profit (loss) for the period | 9904 | €56,627 | €11,048 | -€45,580 | -80.5% |
| Profit (loss) for the period to be appropriated | 9905 | €56,627 | €11,048 | -€45,580 | -80.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.