RAAKLIJN: 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.
RAAKLIJN
Largest movements
- Stocks and contracts +€44,096
up €44,096 (+63.1%), from €69,855 to €113,951
- Cash +€22,163
up €22,163 (+8.8%), from €251,287 to €273,450
mainly Net result for the year (+€49,087) and Receivables within one year (+€22,120)
- Receivables within one year -€22,120
down €22,120 (-27.8%), from €79,460 to €57,340
of which Trade receivables: -€22,120
- Tangible fixed assets -€9,876
down €9,876 (-35.2%), from €28,045 to €18,168
of which Furniture and vehicles: -€6,101
- Reserves +€49,087
up €49,087 (+59.9%), from €81,937 to €131,025
of which Distributable reserves: +€49,087
- Trade debts -€17,086
down €17,086 (-11.8%), from €145,140 to €128,054
- Tax, wage and social debts +€10,290
up €10,290 (+25.8%), from €39,924 to €50,213
of which Taxes: +€10,261
- Debts after one year -€8,829
down €8,829 (-47.0%), from €18,766 to €9,937
of which Financial debts: -€8,829
- Staff costs +€8,686
up €8,686 (+3.5%), from €248,613 to €257,299
- Gross operating margin +€7,398
up €7,398 (+2.2%), from €331,352 to €338,750
- Taxes +€6,553
up €6,553 (+45.1%), from €14,522 to €21,075
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 | €432,568 | €466,375 | +€33,807 | +7.8% |
| Fixed assets | 21/28 | €29,100 | €18,835 | -€10,265 | -35.3% |
| Intangible fixed assets | 21 | €709 | €320 | -€389 | -54.9% |
| Tangible fixed assets | 22/27 | €28,045 | €18,168 | -€9,876 | -35.2% |
| Plant, machinery and equipment | 23 | €4 | €0 | -€4 | -100% |
| Furniture and vehicles | 24 | €18,535 | €12,434 | -€6,101 | -32.9% |
| Leasing and similar rights | 25 | €9,506 | €5,734 | -€3,771 | -39.7% |
| Financial fixed assets | 28 | €347 | €347 | = | 0.0% |
| Current assets | 29/58 | €403,468 | €447,540 | +€44,072 | +10.9% |
| Stocks and contracts in progress | 3 | €69,855 | €113,951 | +€44,096 | +63.1% |
| Stocks | 30/36 | €69,855 | €113,951 | +€44,096 | +63.1% |
| Amounts receivable within one year | 40/41 | €79,460 | €57,340 | -€22,120 | -27.8% |
| Trade receivables | 40 | €79,460 | €57,340 | -€22,120 | -27.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €251,287 | €273,450 | +€22,163 | +8.8% |
| Deferred charges and accrued income | 490/1 | €2,865 | €2,799 | -€66 | -2.3% |
| Total equity and liabilities | 10/49 | €432,568 | €466,375 | +€33,807 | +7.8% |
| Equity | 10/15 | €170,254 | €219,341 | +€49,087 | +28.8% |
| Contributions | 10/11 | €83,000 | €83,000 | = | 0.0% |
| Reserves | 13 | €81,937 | €131,025 | +€49,087 | +59.9% |
| Tax-exempt reserves | 132 | €5,691 | €5,691 | = | 0.0% |
| Distributable reserves | 133 | €76,247 | €125,334 | +€49,087 | +64.4% |
| Profit (loss) carried forward | 14 | €5,317 | €5,317 | = | 0.0% |
| Amounts payable | 17/49 | €262,314 | €247,034 | -€15,280 | -5.8% |
| Amounts payable after more than one year | 17 | €18,766 | €9,937 | -€8,829 | -47.0% |
| Financial debts | 170/4 | €18,766 | €9,937 | -€8,829 | -47.0% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €243,548 | €237,096 | -€6,451 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €8,484 | €8,829 | +€345 | +4.1% |
| Trade debts | 44 | €145,140 | €128,054 | -€17,086 | -11.8% |
| Suppliers | 440/4 | €145,140 | €128,054 | -€17,086 | -11.8% |
| Taxes, remuneration and social security | 45 | €39,924 | €50,213 | +€10,290 | +25.8% |
| Taxes | 450/3 | €19,139 | €29,400 | +€10,261 | +53.6% |
| Remuneration and social security | 454/9 | €20,784 | €20,813 | +€29 | +0.1% |
| Other amounts payable | 47/48 | €50,000 | €50,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €248,613 | €257,299 | +€8,686 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,351 | €10,265 | -€86 | -0.8% |
| Other operating charges | 640/8 | €738 | €949 | +€211 | +28.6% |
| Gross operating margin | 9900 | €331,352 | €338,750 | +€7,398 | +2.2% |
| Operating profit (loss) | 9901 | €71,649 | €70,237 | -€1,413 | -2.0% |
| Financial income | 75/76B | €71 | €1,124 | +€1,053 | +1,475% |
| Recurring financial income | 75 | €71 | €1,124 | +€1,053 | +1,475% |
| Financial charges | 65/66B | €1,759 | €1,199 | -€560 | -31.8% |
| Recurring financial charges | 65 | €1,759 | €1,199 | -€560 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | €69,962 | €70,162 | +€200 | +0.3% |
| Income taxes | 67/77 | €14,522 | €21,075 | +€6,553 | +45.1% |
| Profit (loss) for the period | 9904 | €55,440 | €49,087 | -€6,353 | -11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €55,440 | €49,087 | -€6,353 | -11.5% |
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 24 October 2026 via checked.be.