RA Estates: 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 Estates
Largest movements
- Tangible fixed assets +€2.3m
up €2.3m (+29.6%), from €7.7m to €9.9m
of which Land and buildings: +€2.3m
- Receivables within one year +€240,000
up €240,000 (+12.4%), from €1.9m to €2.2m
of which Trade receivables: +€259,476
- Short-term financial debts +€2.4m
up €2.4m (+13345.8%), from €17,767 to €2.4m
- Other debts +€299,431
up €299,431 (+24.1%), from €1.2m to €1.5m
- Trade debts -€176,427
down €176,427 (-34.6%), from €509,854 to €333,427
- Depreciation +€262,689
up €262,689 (+97.8%), from €268,551 to €531,240
- Taxes -€58,310
down €58,310 (-73.3%), from €79,587 to €21,277
- Gross operating margin -€38,383
down €38,383 (-4.7%), from €817,648 to €779,265
- Financial income +€38,137
up €38,137 (+294.8%), from €12,939 to €51,076
- Other operating charges +€22,559
up €22,559 (+72.3%), from €31,192 to €53,750
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 | €9,847,013 | €12,376,698 | +€2.5m | +25.7% |
| Fixed assets | 21/28 | €7,651,005 | €9,912,396 | +€2.3m | +29.6% |
| Tangible fixed assets | 22/27 | €7,651,005 | €9,912,396 | +€2.3m | +29.6% |
| Land and buildings | 22 | €7,603,948 | €9,857,763 | +€2.3m | +29.6% |
| Plant, machinery and equipment | 23 | €5,630 | €4,388 | -€1,242 | -22.1% |
| Furniture and vehicles | 24 | €41,427 | €50,246 | +€8,819 | +21.3% |
| Current assets | 29/58 | €2,196,008 | €2,464,301 | +€268,293 | +12.2% |
| Amounts receivable within one year | 40/41 | €1,937,767 | €2,177,766 | +€240,000 | +12.4% |
| Trade receivables | 40 | €47,151 | €306,628 | +€259,476 | +550.3% |
| Other amounts receivable | 41 | €1,890,615 | €1,871,139 | -€19,477 | -1.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €256,308 | €269,759 | +€13,451 | +5.2% |
| Deferred charges and accrued income | 490/1 | €1,933 | €16,776 | +€14,843 | +767.8% |
| Total equity and liabilities | 10/49 | €9,847,013 | €12,376,698 | +€2.5m | +25.7% |
| Equity | 10/15 | €1,731,164 | €1,714,069 | -€17,095 | -1.0% |
| Reserves | 13 | €1,731,164 | €1,714,069 | -€17,095 | -1.0% |
| Tax-exempt reserves | 132 | €210,500 | €210,500 | = | 0.0% |
| Distributable reserves | 133 | €1,520,664 | €1,503,569 | -€17,095 | -1.1% |
| Amounts payable | 17/49 | €8,115,849 | €10,662,629 | +€2.5m | +31.4% |
| Amounts payable after more than one year | 17 | €5,948,495 | €5,987,591 | +€39,096 | +0.7% |
| Financial debts | 170/4 | €5,948,495 | €5,987,591 | +€39,096 | +0.7% |
| Amounts payable within one year | 42/48 | €2,157,388 | €4,665,441 | +€2.5m | +116.3% |
| Current portion of amounts payable after more than one year | 42 | €339,490 | €360,904 | +€21,415 | +6.3% |
| Financial debts | 43 | €17,767 | €2,388,941 | +€2.4m | +13345.8% |
| Credit institutions | 430/8 | €17,767 | €2,388,941 | +€2.4m | +13345.8% |
| Trade debts | 44 | €509,854 | €333,427 | -€176,427 | -34.6% |
| Suppliers | 440/4 | €509,854 | €333,427 | -€176,427 | -34.6% |
| Taxes, remuneration and social security | 45 | €48,938 | €41,400 | -€7,538 | -15.4% |
| Taxes | 450/3 | €48,938 | €41,400 | -€7,538 | -15.4% |
| Other amounts payable | 47/48 | €1,241,339 | €1,540,769 | +€299,431 | +24.1% |
| Accrued charges and deferred income | 492/3 | €9,965 | €9,597 | -€369 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €268,551 | €531,240 | +€262,689 | +97.8% |
| Other operating charges | 640/8 | €31,192 | €53,750 | +€22,559 | +72.3% |
| Gross operating margin | 9900 | €817,648 | €779,265 | -€38,383 | -4.7% |
| Operating profit (loss) | 9901 | €517,905 | €194,274 | -€323,631 | -62.5% |
| Financial income | 75/76B | €12,939 | €51,076 | +€38,137 | +294.8% |
| Recurring financial income | 75 | €12,939 | €51,076 | +€38,137 | +294.8% |
| Financial charges | 65/66B | €244,634 | €241,169 | -€3,465 | -1.4% |
| Recurring financial charges | 65 | €244,634 | €241,169 | -€3,465 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €286,210 | €4,181 | -€282,028 | -98.5% |
| Income taxes | 67/77 | €79,587 | €21,277 | -€58,310 | -73.3% |
| Profit (loss) for the period | 9904 | €206,623 | -€17,095 | -€223,718 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €206,623 | -€17,095 | -€223,718 |
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 4 October 2026 via checked.be.