Ra-Ve Projects: 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-Ve Projects
Largest movements
- Current investments +€8,269
new in 2025: €8,269
- Tangible fixed assets +€6,097
up €6,097 (+234.3%), from €2,602 to €8,699
of which Other tangible fixed assets: +€4,094
- Cash +€3,473
up €3,473 (+27.7%), from €12,528 to €16,001
mainly Net result for the year (+€21,799) and Tax, wage and social debts (+€2,979)
- Stocks and contracts +€2,565
up €2,565 (+177.7%), from €1,443 to €4,008
- Receivables within one year +€1,299
up €1,299 (+129.9%), from €1,001 to €2,300
of which Other amounts receivable: +€2,300
- Reserves +€21,799
up €21,799 (+2780.3%), from €784 to €22,583
- Tax, wage and social debts +€2,979
up €2,979 (+124.6%), from €2,391 to €5,370
- Debts after one year -€2,484
down €2,484 (-24.2%), from €10,257 to €7,773
of which Other amounts payable: -€2,484
- Trade debts -€590
down €590 (-36.0%), from €1,641 to €1,051
- Gross operating margin +€20,655
up €20,655 (+144.9%), from €14,252 to €34,907
- Taxes +€9,667
up €9,667 (+2490.9%), from €388 to €10,055
- Depreciation +€533
up €533 (+44.1%), from €1,209 to €1,742
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 | €17,574 | €39,278 | +€21,704 | +123.5% |
| Fixed assets | 21/28 | €2,602 | €8,699 | +€6,097 | +234.3% |
| Tangible fixed assets | 22/27 | €2,602 | €8,699 | +€6,097 | +234.3% |
| Plant, machinery and equipment | 23 | - | €1,563 | +€1,563 | |
| Furniture and vehicles | 24 | €1,321 | €1,762 | +€440 | +33.3% |
| Other tangible fixed assets | 26 | €1,281 | €5,375 | +€4,094 | +319.6% |
| Current assets | 29/58 | €14,972 | €30,578 | +€15,606 | +104.2% |
| Stocks and contracts in progress | 3 | €1,443 | €4,008 | +€2,565 | +177.7% |
| Stocks | 30/36 | €1,443 | €4,008 | +€2,565 | +177.7% |
| Amounts receivable within one year | 40/41 | €1,001 | €2,300 | +€1,299 | +129.9% |
| Trade receivables | 40 | €1,001 | €0 | -€1,001 | -100.0% |
| Other amounts receivable | 41 | €0 | €2,300 | +€2,300 | |
| Current investments | 50/53 | - | €8,269 | +€8,269 | |
| Cash at bank and in hand | 54/58 | €12,528 | €16,001 | +€3,473 | +27.7% |
| Total equity and liabilities | 10/49 | €17,574 | €39,278 | +€21,704 | +123.5% |
| Equity | 10/15 | €3,284 | €25,083 | +€21,799 | +663.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €784 | €22,583 | +€21,799 | +2780.3% |
| Distributable reserves | 133 | €784 | €22,583 | +€21,799 | +2780.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €14,290 | €14,194 | -€96 | -0.7% |
| Amounts payable after more than one year | 17 | €10,257 | €7,773 | -€2,484 | -24.2% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €10,257 | €7,773 | -€2,484 | -24.2% |
| Amounts payable within one year | 42/48 | €4,033 | €6,421 | +€2,389 | +59.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,641 | €1,051 | -€590 | -36.0% |
| Suppliers | 440/4 | €1,641 | €1,051 | -€590 | -36.0% |
| Taxes, remuneration and social security | 45 | €2,391 | €5,370 | +€2,979 | +124.6% |
| Taxes | 450/3 | €2,391 | €5,370 | +€2,979 | +124.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €7,031 | €0 | -€7,031 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,209 | €1,742 | +€533 | +44.1% |
| Other operating charges | 640/8 | €645 | €920 | +€275 | +42.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €14,252 | €34,907 | +€20,655 | +144.9% |
| Operating profit (loss) | 9901 | €12,398 | €32,245 | +€19,847 | +160.1% |
| Financial income | 75/76B | €0 | €246 | +€246 | |
| Recurring financial income | 75 | €0 | €246 | +€246 | |
| Financial charges | 65/66B | €584 | €637 | +€53 | +9.0% |
| Recurring financial charges | 65 | €584 | €637 | +€53 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €11,814 | €31,854 | +€20,040 | +169.6% |
| Income taxes | 67/77 | €388 | €10,055 | +€9,667 | +2490.9% |
| Profit (loss) for the period | 9904 | €11,426 | €21,799 | +€10,373 | +90.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,426 | €21,799 | +€10,373 | +90.8% |
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 8 October 2026 via checked.be.