Rabaey M.: 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.
Rabaey M.
Largest movements
- Cash +€40,956
up €40,956 (+102.8%), from €39,833 to €80,789
mainly Net result for the year (+€40,297) and Tax, wage and social debts (+€5,558)
- Deferred charges and accrued income +€1,507
new in 2025: €1,507
- Reserves +€40,297
up €40,297 (+200.2%), from €20,130 to €60,428
- Tax, wage and social debts +€5,558
up €5,558 (+32.8%), from €16,924 to €22,483
- Trade debts -€3,139
down €3,139 (-86.1%), from €3,645 to €506
- Gross operating margin +€27,404
up €27,404 (+107.9%), from €25,392 to €52,796
- Taxes +€6,700
up €6,700 (+129.3%), from €5,180 to €11,880
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 | €42,749 | €85,967 | +€43,217 | +101.1% |
| Fixed assets | 21/28 | €1,096 | €1,850 | +€754 | +68.8% |
| Tangible fixed assets | 22/27 | €1,096 | €1,850 | +€754 | +68.8% |
| Furniture and vehicles | 24 | €1,096 | €1,850 | +€754 | +68.8% |
| Current assets | 29/58 | €41,653 | €84,117 | +€42,464 | +101.9% |
| Amounts receivable within one year | 40/41 | €1,820 | €1,820 | = | 0.0% |
| Other amounts receivable | 41 | €1,820 | €1,820 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €39,833 | €80,789 | +€40,956 | +102.8% |
| Deferred charges and accrued income | 490/1 | - | €1,507 | +€1,507 | |
| Total equity and liabilities | 10/49 | €42,749 | €85,967 | +€43,217 | +101.1% |
| Equity | 10/15 | €22,130 | €62,428 | +€40,297 | +182.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €20,130 | €60,428 | +€40,297 | +200.2% |
| Distributable reserves | 133 | €20,130 | €60,428 | +€40,297 | +200.2% |
| Amounts payable | 17/49 | €20,619 | €23,539 | +€2,920 | +14.2% |
| Amounts payable within one year | 42/48 | €20,619 | €23,539 | +€2,920 | +14.2% |
| Trade debts | 44 | €3,645 | €506 | -€3,139 | -86.1% |
| Suppliers | 440/4 | €3,645 | €506 | -€3,139 | -86.1% |
| Taxes, remuneration and social security | 45 | €16,924 | €22,483 | +€5,558 | +32.8% |
| Taxes | 450/3 | €16,924 | €22,483 | +€5,558 | +32.8% |
| Other amounts payable | 47/48 | €50 | €550 | +€500 | +1000.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58 | €400 | +€342 | +590.0% |
| Other operating charges | 640/8 | - | €79 | +€79 | |
| Gross operating margin | 9900 | €25,392 | €52,796 | +€27,404 | +107.9% |
| Operating profit (loss) | 9901 | €25,334 | €52,317 | +€26,983 | +106.5% |
| Financial charges | 65/66B | €24 | €140 | +€116 | +490.0% |
| Recurring financial charges | 65 | €24 | €140 | +€116 | +490.0% |
| Profit (loss) for the period before taxes | 9903 | €25,310 | €52,177 | +€26,867 | +106.2% |
| Income taxes | 67/77 | €5,180 | €11,880 | +€6,700 | +129.3% |
| Profit (loss) for the period | 9904 | €20,130 | €40,297 | +€20,167 | +100.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,130 | €40,297 | +€20,167 | +100.2% |
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 5 October 2026 via checked.be.