RA.G MANAGEMENT: 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.
RA.G MANAGEMENT
Largest movements
- Tangible fixed assets -€21,985
down €21,985 (-5.9%), from €374,650 to €352,665
- Deferred charges and accrued income +€14,464
up €14,464 (+48.0%), from €30,120 to €44,584
- Other debts +€49,061
up €49,061 (+20.1%), from €244,433 to €293,494
- Debts after one year -€40,476
down €40,476 (-33.6%), from €120,301 to €79,825
- Profit (loss) carried forward -€12,346
down €12,346 (-90.0%), from -€13,722 to -€26,069
- Financial charges -€1,103
down €1,103 (-27.5%), from €4,016 to €2,912
- Gross operating margin +€771
up €771 (+5.1%), from €15,078 to €15,849
- Other operating charges +€498
up €498 (+17.8%), from €2,800 to €3,299
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 | €416,648 | €409,117 | -€7,532 | -1.8% |
| Fixed assets | 21/28 | €374,650 | €352,665 | -€21,985 | -5.9% |
| Tangible fixed assets | 22/27 | €374,650 | €352,665 | -€21,985 | -5.9% |
| Land and buildings | 22 | €374,650 | €352,665 | -€21,985 | -5.9% |
| Current assets | 29/58 | €41,998 | €56,452 | +€14,453 | +34.4% |
| Amounts receivable within one year | 40/41 | €11,310 | €11,310 | = | 0.0% |
| Trade receivables | 40 | €7,560 | €7,560 | = | 0.0% |
| Other amounts receivable | 41 | €3,750 | €3,750 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €569 | €558 | -€11 | -1.9% |
| Deferred charges and accrued income | 490/1 | €30,120 | €44,584 | +€14,464 | +48.0% |
| Total equity and liabilities | 10/49 | €416,648 | €409,117 | -€7,532 | -1.8% |
| Equity | 10/15 | €7,668 | -€4,678 | -€12,346 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €8,991 | €8,991 | = | 0.0% |
| Distributable reserves | 133 | €8,991 | €8,991 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,722 | -€26,069 | -€12,346 | -90.0% |
| Amounts payable | 17/49 | €408,980 | €413,795 | +€4,815 | +1.2% |
| Amounts payable after more than one year | 17 | €120,301 | €79,825 | -€40,476 | -33.6% |
| Financial debts | 170/4 | €120,301 | €79,825 | -€40,476 | -33.6% |
| Amounts payable within one year | 42/48 | €288,295 | €333,970 | +€45,675 | +15.8% |
| Current portion of amounts payable after more than one year | 42 | €43,862 | €40,476 | -€3,386 | -7.7% |
| Other amounts payable | 47/48 | €244,433 | €293,494 | +€49,061 | +20.1% |
| Accrued charges and deferred income | 492/3 | €384 | - | -€384 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,985 | €21,985 | = | 0.0% |
| Other operating charges | 640/8 | €2,800 | €3,299 | +€498 | +17.8% |
| Gross operating margin | 9900 | €15,078 | €15,849 | +€771 | +5.1% |
| Operating profit (loss) | 9901 | -€9,707 | -€9,434 | +€273 | +2.8% |
| Financial charges | 65/66B | €4,016 | €2,912 | -€1,103 | -27.5% |
| Recurring financial charges | 65 | €4,016 | €2,912 | -€1,103 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | -€13,722 | -€12,346 | +€1,376 | +10.0% |
| Profit (loss) for the period | 9904 | -€13,722 | -€12,346 | +€1,376 | +10.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,722 | -€12,346 | +€1,376 | +10.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.