RAADSMAN: 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.
RAADSMAN
Largest movements
- Tangible fixed assets -€11,758
down €11,758 (-10.4%), from €112,666 to €100,908
of which Land and buildings: -€17,339
- Cash +€5,954
up €5,954 (+12.8%), from €46,366 to €52,320
mainly Net result for the year (+€36,205) and Depreciation (+€19,975)
- Receivables within one year +€5,262
up €5,262 (+9.7%), from €54,500 to €59,762
of which Trade receivables: +€5,342
- Current portion of long-term debt -€23,719
down €23,719 (-20.9%), from €113,719 to €90,000
- Trade debts +€12,957
up €12,957 (+267%), from €4,850 to €17,808
- Reserves +€8,810
up €8,810 (+6.0%), from €146,465 to €155,275
- Other debts +€7,487
up €7,487 (+27.2%), from €27,573 to €35,060
- Advances received -€4,376
down €4,376 (-35.2%), from €12,432 to €8,056
- Staff costs +€10,604
up €10,604 (+28.1%), from €37,680 to €48,283
- Gross operating margin +€10,284
up €10,284 (+8.5%), from €120,404 to €130,688
- Other operating charges +€1,987
up €1,987 (+79.3%), from €2,504 to €4,491
- Financial charges -€1,688
down €1,688 (-18.1%), from €9,313 to €7,625
- Depreciation +€1,474
up €1,474 (+8.0%), from €18,501 to €19,975
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 | €219,710 | €219,385 | -€325 | -0.1% |
| Fixed assets | 21/28 | €112,666 | €100,908 | -€11,758 | -10.4% |
| Tangible fixed assets | 22/27 | €112,666 | €100,908 | -€11,758 | -10.4% |
| Land and buildings | 22 | €102,882 | €85,543 | -€17,339 | -16.9% |
| Plant, machinery and equipment | 23 | €7,505 | €12,420 | +€4,915 | +65.5% |
| Furniture and vehicles | 24 | €2,279 | €2,944 | +€666 | +29.2% |
| Current assets | 29/58 | €107,044 | €118,477 | +€11,433 | +10.7% |
| Amounts receivable within one year | 40/41 | €54,500 | €59,762 | +€5,262 | +9.7% |
| Trade receivables | 40 | €53,718 | €59,061 | +€5,342 | +9.9% |
| Other amounts receivable | 41 | €781 | €701 | -€80 | -10.3% |
| Cash at bank and in hand | 54/58 | €46,366 | €52,320 | +€5,954 | +12.8% |
| Deferred charges and accrued income | 490/1 | €6,178 | €6,395 | +€217 | +3.5% |
| Total equity and liabilities | 10/49 | €219,710 | €219,385 | -€325 | -0.1% |
| Equity | 10/15 | €47,168 | €55,978 | +€8,810 | +18.7% |
| Contributions | 10/11 | €16,067 | €16,067 | = | 0.0% |
| Reserves | 13 | €146,465 | €155,275 | +€8,810 | +6.0% |
| Distributable reserves | 133 | €146,465 | €155,275 | +€8,810 | +6.0% |
| Profit (loss) carried forward | 14 | -€115,364 | -€115,364 | = | 0.0% |
| Amounts payable | 17/49 | €172,542 | €163,406 | -€9,136 | -5.3% |
| Amounts payable within one year | 42/48 | €170,976 | €161,403 | -€9,574 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €113,719 | €90,000 | -€23,719 | -20.9% |
| Trade debts | 44 | €4,850 | €17,808 | +€12,957 | +267% |
| Suppliers | 440/4 | €4,850 | €17,808 | +€12,957 | +267% |
| Advances received on contracts in progress | 46 | €12,432 | €8,056 | -€4,376 | -35.2% |
| Taxes, remuneration and social security | 45 | €12,402 | €10,479 | -€1,923 | -15.5% |
| Taxes | 450/3 | €8,607 | €4,946 | -€3,661 | -42.5% |
| Remuneration and social security | 454/9 | €3,795 | €5,533 | +€1,738 | +45.8% |
| Other amounts payable | 47/48 | €27,573 | €35,060 | +€7,487 | +27.2% |
| Accrued charges and deferred income | 492/3 | €1,566 | €2,004 | +€438 | +28.0% |
| Remuneration, social security and pensions | 62 | €37,680 | €48,283 | +€10,604 | +28.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,501 | €19,975 | +€1,474 | +8.0% |
| Other operating charges | 640/8 | €2,504 | €4,491 | +€1,987 | +79.3% |
| Gross operating margin | 9900 | €120,404 | €130,688 | +€10,284 | +8.5% |
| Operating profit (loss) | 9901 | €61,719 | €57,939 | -€3,780 | -6.1% |
| Financial income | 75/76B | €77 | €469 | +€392 | +510% |
| Recurring financial income | 75 | €77 | €469 | +€392 | +510% |
| Financial charges | 65/66B | €9,313 | €7,625 | -€1,688 | -18.1% |
| Recurring financial charges | 65 | €9,313 | €7,625 | -€1,688 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €52,483 | €50,783 | -€1,700 | -3.2% |
| Income taxes | 67/77 | €15,223 | €14,578 | -€646 | -4.2% |
| Profit (loss) for the period | 9904 | €37,259 | €36,205 | -€1,054 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €37,259 | €36,205 | -€1,054 | -2.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.