RAAMPROF: what changed
RAAMPROF
Largest movements
- Formation expenses -€75,000
down €75,000 (-32.6%), from €230,000 to €155,000
- Cash -€13,975
down €13,975 (-14.2%), from €98,392 to €84,417
mainly Debts after one year (-€97,698) and Tax, wage and social debts (-€42,148)
- Tangible fixed assets -€11,673
down €11,673 (-37.0%), from €31,589 to €19,915
of which Other tangible fixed assets: -€7,504
- Debts after one year -€97,698
down €97,698 (-41.3%), from €236,514 to €138,816
- Tax, wage and social debts -€42,148
down €42,148 (-38.4%), from €109,748 to €67,600
of which Remuneration and social security: -€45,838
- Trade debts +€24,152
up €24,152 (+11.3%), from €213,024 to €237,175
- Depreciation -€27,783
down €27,783 (-24.0%), from €115,714 to €87,931
- Staff costs +€26,152
up €26,152 (+3.6%), from €722,570 to €748,722
- Gross operating margin -€12,068
down €12,068 (-1.4%), from €884,769 to €872,700
- Financial charges -€11,066
down €11,066 (-32.5%), from €34,062 to €22,996
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €956,844 | €848,043 | -€108,800 | -11.4% |
| Formation expenses | 20 | €230,000 | €155,000 | -€75,000 | -32.6% |
| Fixed assets | 21/28 | €50,778 | €37,846 | -€12,931 | -25.5% |
| Intangible fixed assets | 21 | €10,122 | €8,863 | -€1,258 | -12.4% |
| Tangible fixed assets | 22/27 | €31,589 | €19,915 | -€11,673 | -37.0% |
| Land and buildings | 22 | €1,487 | €1,296 | -€191 | -12.8% |
| Plant, machinery and equipment | 23 | €3,911 | €2,209 | -€1,702 | -43.5% |
| Furniture and vehicles | 24 | €11,896 | €9,620 | -€2,276 | -19.1% |
| Other tangible fixed assets | 26 | €14,295 | €6,791 | -€7,504 | -52.5% |
| Financial fixed assets | 28 | €9,067 | €9,067 | = | 0.0% |
| Current assets | 29/58 | €676,066 | €655,197 | -€20,869 | -3.1% |
| Stocks and contracts in progress | 3 | €27,525 | €26,436 | -€1,089 | -4.0% |
| Stocks | 30/36 | €27,525 | €26,436 | -€1,089 | -4.0% |
| Amounts receivable within one year | 40/41 | €550,149 | €544,344 | -€5,806 | -1.1% |
| Trade receivables | 40 | €508,014 | €490,010 | -€18,004 | -3.5% |
| Other amounts receivable | 41 | €42,135 | €54,333 | +€12,198 | +28.9% |
| Cash at bank and in hand | 54/58 | €98,392 | €84,417 | -€13,975 | -14.2% |
| Total equity and liabilities | 10/49 | €956,844 | €848,043 | -€108,800 | -11.4% |
| Equity | 10/15 | €297,558 | €304,452 | +€6,894 | +2.3% |
| Contributions | 10/11 | €165,403 | €165,403 | = | 0.0% |
| Reserves | 13 | €113,995 | €113,995 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €113,995 | €113,995 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,160 | €25,054 | +€6,894 | +38.0% |
| Amounts payable | 17/49 | €659,286 | €543,591 | -€115,695 | -17.5% |
| Amounts payable after more than one year | 17 | €236,514 | €138,816 | -€97,698 | -41.3% |
| Financial debts | 170/4 | €236,514 | €138,816 | -€97,698 | -41.3% |
| Amounts payable within one year | 42/48 | €422,772 | €404,775 | -€17,997 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €213,024 | €237,175 | +€24,152 | +11.3% |
| Suppliers | 440/4 | €213,024 | €237,175 | +€24,152 | +11.3% |
| Taxes, remuneration and social security | 45 | €109,748 | €67,600 | -€42,148 | -38.4% |
| Taxes | 450/3 | €27,404 | €31,093 | +€3,689 | +13.5% |
| Remuneration and social security | 454/9 | €82,344 | €36,507 | -€45,838 | -55.7% |
| Remuneration, social security and pensions | 62 | €722,570 | €748,722 | +€26,152 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,714 | €87,931 | -€27,783 | -24.0% |
| Other operating charges | 640/8 | €9,081 | €6,394 | -€2,687 | -29.6% |
| Gross operating margin | 9900 | €884,769 | €872,700 | -€12,068 | -1.4% |
| Operating profit (loss) | 9901 | €37,404 | €29,653 | -€7,751 | -20.7% |
| Financial income | 75/76B | €12,698 | €12,580 | -€119 | -0.9% |
| Recurring financial income | 75 | €12,698 | €12,580 | -€119 | -0.9% |
| Financial charges | 65/66B | €34,062 | €22,996 | -€11,066 | -32.5% |
| Recurring financial charges | 65 | €34,062 | €22,996 | -€11,066 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €16,040 | €19,236 | +€3,197 | +19.9% |
| Income taxes | 67/77 | €11,160 | €12,342 | +€1,182 | +10.6% |
| Profit (loss) for the period | 9904 | €4,880 | €6,894 | +€2,014 | +41.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,880 | €6,894 | +€2,014 | +41.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.