raamSELECT: 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.
What changed
raamSELECT
NACE 43.320, Joinery installation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.0m
2024 · €1.4m+€594,061
Equity
€8.5m
2024 · €8.5m+€30,421
Cash
€903,310
2024 · €753,369+€149,942
Balance sheet total
€11.3m
2024 · €10.6m+€651,124
Largest movements
Assets
- Receivables within one year +€709,990
up €709,990 (+12.4%), from €5.7m to €6.5m
of which Other amounts receivable: +€725,153
- Cash +€149,942
up €149,942 (+19.9%), from €753,369 to €903,310
mainly Net result for the year (+€2.0m) and Other debts (+€605,000)
- Tangible fixed assets -€125,050
down €125,050 (-5.5%), from €2.3m to €2.1m
of which Plant, machinery and equipment: -€244,577
Equity and liabilities
- Other debts +€605,000
up €605,000 (+44.5%), from €1.4m to €2.0m
Income statement
- Turnover +€626,701
up €626,701 (+5.1%), from €12.3m to €13.0m
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.
Result 2024
€1.4m
Turnover
+€626,701
Other operating income
-€5,384
Goods and materials
-€75,321
Services and other goods
-€68,187
Staff costs
+€2,936
Depreciation
+€46,478
Write-downs
-€18,955
Provisions
-€7,000
Other operating charges
+€1,749
Other operating items
+€78,752
Financial income
-€23,412
Financial charges
+€30,968
Taxes
+€6,392
Deferred taxes and other
-€1,656
Result 2025
€2.0m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.3m
Investment
-€227,939
Financing
-€2.0m
Cash 2024
€753,369
From operations (derived)
+€2.3m
Net result for the year
+€2.0m
Depreciation
+€352,989
Stocks and contracts
+€107,789
Receivables within one year
-€709,990
Deferred charges and accrued income
-€24,032
Provisions
+€1,648
Trade debts
+€49,593
Tax, wage and social debts
-€21,002
Advances received
-€7,218
Other debts
+€605,000
Accrued charges and deferred income
-€7,318
Investment (derived)
-€227,939
Investment in fixed assets (net)
-€227,939
Financing
-€2.0m
Contributions, distributions and other
-€2.0m
Cash 2025
€903,310
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,631,002 | €11,282,127 | +€651,124 | +6.1% |
| Fixed assets | 21/28 | €2,261,519 | €2,136,469 | -€125,050 | -5.5% |
| Tangible fixed assets | 22/27 | €2,261,519 | €2,136,469 | -€125,050 | -5.5% |
| Plant, machinery and equipment | 23 | €1,883,771 | €1,639,194 | -€244,577 | -13.0% |
| Furniture and vehicles | 24 | €153,097 | €293,305 | +€140,208 | +91.6% |
| Leasing and similar rights | 25 | €224,650 | €203,970 | -€20,681 | -9.2% |
| Current assets | 29/58 | €8,369,483 | €9,145,658 | +€776,174 | +9.3% |
| Stocks and contracts in progress | 3 | €1,786,614 | €1,678,825 | -€107,789 | -6.0% |
| Stocks | 30/36 | €1,060,460 | €1,012,999 | -€47,462 | -4.5% |
| Raw materials and consumables | 30/31 | €1,060,460 | €1,012,999 | -€47,462 | -4.5% |
| Contracts in progress | 37 | €726,154 | €665,826 | -€60,328 | -8.3% |
| Amounts receivable within one year | 40/41 | €5,745,116 | €6,455,106 | +€709,990 | +12.4% |
| Trade receivables | 40 | €581,841 | €566,678 | -€15,163 | -2.6% |
| Other amounts receivable | 41 | €5,163,275 | €5,888,428 | +€725,153 | +14.0% |
| Cash at bank and in hand | 54/58 | €753,369 | €903,310 | +€149,942 | +19.9% |
| Deferred charges and accrued income | 490/1 | €84,384 | €108,416 | +€24,032 | +28.5% |
| Total equity and liabilities | 10/49 | €10,631,002 | €11,282,127 | +€651,124 | +6.1% |
| Equity | 10/15 | €8,482,171 | €8,512,592 | +€30,421 | +0.4% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €8,358,224 | €8,388,645 | +€30,421 | +0.4% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,757 | €9,702 | -€1,055 | -9.8% |
| Distributable reserves | 133 | €8,335,073 | €8,366,549 | +€31,476 | +0.4% |
| Provisions and deferred taxes | 16 | €7,552 | €9,200 | +€1,648 | +21.8% |
| Provisions for liabilities and charges | 160/5 | €3,966 | €5,966 | +€2,000 | +50.4% |
| Other liabilities and charges | 164/5 | €3,966 | €5,966 | +€2,000 | +50.4% |
| Deferred taxes | 168 | €3,586 | €3,234 | -€352 | -9.8% |
| Amounts payable | 17/49 | €2,141,279 | €2,760,334 | +€619,055 | +28.9% |
| Amounts payable within one year | 42/48 | €2,058,560 | €2,684,932 | +€626,373 | +30.4% |
| Trade debts | 44 | €245,398 | €294,991 | +€49,593 | +20.2% |
| Suppliers | 440/4 | €245,398 | €294,991 | +€49,593 | +20.2% |
| Advances received on contracts in progress | 46 | €208,755 | €201,537 | -€7,218 | -3.5% |
| Taxes, remuneration and social security | 45 | €244,406 | €223,404 | -€21,002 | -8.6% |
| Taxes | 450/3 | €15,341 | €13,695 | -€1,645 | -10.7% |
| Remuneration and social security | 454/9 | €229,065 | €209,709 | -€19,357 | -8.5% |
| Other amounts payable | 47/48 | €1,360,000 | €1,965,000 | +€605,000 | +44.5% |
| Accrued charges and deferred income | 492/3 | €82,720 | €75,402 | -€7,318 | -8.8% |
| Operating income | 70/76A | €12,270,000 | €12,978,682 | +€708,682 | +5.8% |
| Turnover | 70 | €12,340,660 | €12,967,361 | +€626,701 | +5.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€142,943 | -€60,328 | +€82,616 | +57.8% |
| Other operating income | 74 | €60,283 | €54,899 | -€5,384 | -8.9% |
| Non-recurring operating income | 76A | €12,000 | €16,750 | +€4,750 | +39.6% |
| Operating charges | 60/66A | €10,939,727 | €11,066,640 | +€126,912 | +1.2% |
| Goods for resale, raw materials and consumables | 60 | €5,896,995 | €5,972,315 | +€75,321 | +1.3% |
| Purchases | 600/8 | €5,952,793 | €5,924,854 | -€27,939 | -0.5% |
| Change in stocks: decrease (increase) | 609 | -€55,798 | €47,462 | +€103,260 | |
| Services and other goods | 61 | €1,373,747 | €1,441,934 | +€68,187 | +5.0% |
| Remuneration, social security and pensions | 62 | €3,263,065 | €3,260,129 | -€2,936 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €399,467 | €352,989 | -€46,478 | -11.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€9,297 | €9,658 | +€18,955 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€5,000 | €2,000 | +€7,000 | |
| Other operating charges | 640/8 | €20,750 | €19,001 | -€1,749 | -8.4% |
| Non-recurring operating charges | 66A | - | €8,613 | +€8,613 | |
| Operating profit (loss) | 9901 | €1,330,273 | €1,912,042 | +€581,770 | +43.7% |
| Financial income | 75/76B | €122,213 | €98,801 | -€23,412 | -19.2% |
| Recurring financial income | 75 | €122,213 | €98,801 | -€23,412 | -19.2% |
| Income from current assets | 751 | €65,977 | €43,518 | -€22,459 | -34.0% |
| Other financial income | 752/9 | €56,236 | €55,283 | -€954 | -1.7% |
| Financial charges | 65/66B | €33,531 | €2,564 | -€30,968 | -92.4% |
| Recurring financial charges | 65 | €33,531 | €2,564 | -€30,968 | -92.4% |
| Debt charges | 650 | €32,858 | €1,864 | -€30,993 | -94.3% |
| Other financial charges | 652/9 | €674 | €700 | +€26 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €1,418,955 | €2,008,280 | +€589,325 | +41.5% |
| Transfer from deferred taxes | 780 | €2,008 | €352 | -€1,656 | -82.5% |
| Income taxes | 67/77 | €19,602 | €13,210 | -€6,392 | -32.6% |
| Taxes | 670/3 | €19,689 | €13,210 | -€6,479 | -32.9% |
| Tax adjustments and reversals of tax provisions | 77 | €87 | - | -€87 | |
| Profit (loss) for the period | 9904 | €1,401,360 | €1,995,421 | +€594,061 | +42.4% |
| Transfer from tax-exempt reserves | 789 | €6,024 | €1,055 | -€4,969 | -82.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,407,384 | €1,996,476 | +€589,092 | +41.9% |
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 13 October 2026 via checked.be.