RABAUT: 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.
RABAUT
Largest movements
- Tangible fixed assets +€447,261
up €447,261 (+54.4%), from €821,938 to €1.3m
- Stocks and contracts -€317,977
down €317,977 (-14.7%), from €2.2m to €1.8m
- Current investments +€280,000
up €280,000 (+16.5%), from €1.7m to €2.0m
- Cash -€141,191
down €141,191 (-48.1%), from €293,293 to €152,101
mainly Investment in fixed assets (net) (-€480,727) and Current investments (-€280,000)
- Reserves +€170,980
up €170,980 (+6.9%), from €2.5m to €2.6m
of which Distributable reserves: +€119,596
- Other debts +€65,657
up €65,657 (+23.0%), from €285,637 to €351,295
- Gross operating margin -€110,981
down €110,981 (-32.4%), from €342,171 to €231,190
- Taxes -€40,372
down €40,372 (-49.8%), from €81,037 to €40,665
- Depreciation +€9,442
up €9,442 (+39.3%), from €24,024 to €33,466
- Other operating charges +€7,861
up €7,861 (+138.7%), from €5,669 to €13,531
- Financial income +€4,612
up €4,612 (+8.5%), from €54,334 to €58,946
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 | €5,055,762 | €5,315,896 | +€260,134 | +5.1% |
| Fixed assets | 21/28 | €821,938 | €1,269,199 | +€447,261 | +54.4% |
| Tangible fixed assets | 22/27 | €821,938 | €1,269,199 | +€447,261 | +54.4% |
| Land and buildings | 22 | €821,938 | €1,269,199 | +€447,261 | +54.4% |
| Current assets | 29/58 | €4,233,825 | €4,046,697 | -€187,128 | -4.4% |
| Stocks and contracts in progress | 3 | €2,165,905 | €1,847,929 | -€317,977 | -14.7% |
| Stocks | 30/36 | €2,165,905 | €1,847,929 | -€317,977 | -14.7% |
| Amounts receivable within one year | 40/41 | €74,626 | €56,605 | -€18,022 | -24.1% |
| Trade receivables | 40 | €0 | €1,483 | +€1,483 | |
| Other amounts receivable | 41 | €74,626 | €55,122 | -€19,505 | -26.1% |
| Current investments | 50/53 | €1,700,000 | €1,980,000 | +€280,000 | +16.5% |
| Cash at bank and in hand | 54/58 | €293,293 | €152,101 | -€141,191 | -48.1% |
| Deferred charges and accrued income | 490/1 | €0 | €10,062 | +€10,062 | |
| Total equity and liabilities | 10/49 | €5,055,762 | €5,315,896 | +€260,134 | +5.1% |
| Equity | 10/15 | €4,754,954 | €4,925,934 | +€170,980 | +3.6% |
| Contributions | 10/11 | €2,278,000 | €2,278,000 | = | 0.0% |
| Reserves | 13 | €2,476,954 | €2,647,934 | +€170,980 | +6.9% |
| Tax-exempt reserves | 132 | €25,291 | €76,675 | +€51,384 | +203.2% |
| Distributable reserves | 133 | €2,451,663 | €2,571,259 | +€119,596 | +4.9% |
| Provisions and deferred taxes | 16 | €8,430 | €25,558 | +€17,128 | +203.2% |
| Deferred taxes | 168 | €8,430 | €25,558 | +€17,128 | +203.2% |
| Amounts payable | 17/49 | €292,378 | €364,403 | +€72,026 | +24.6% |
| Amounts payable within one year | 42/48 | €290,544 | €356,137 | +€65,592 | +22.6% |
| Trade debts | 44 | €4,155 | €2,462 | -€1,692 | -40.7% |
| Suppliers | 440/4 | €4,155 | €2,462 | -€1,692 | -40.7% |
| Taxes, remuneration and social security | 45 | €752 | €2,380 | +€1,628 | +216.4% |
| Taxes | 450/3 | €752 | €2,380 | +€1,628 | +216.4% |
| Other amounts payable | 47/48 | €285,637 | €351,295 | +€65,657 | +23.0% |
| Accrued charges and deferred income | 492/3 | €1,833 | €8,267 | +€6,433 | +350.9% |
| Non-recurring operating income | 76A | €36,215 | €0 | -€36,215 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,024 | €33,466 | +€9,442 | +39.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,300 | +€2,300 | |
| Other operating charges | 640/8 | €5,669 | €13,531 | +€7,861 | +138.7% |
| Gross operating margin | 9900 | €342,171 | €231,190 | -€110,981 | -32.4% |
| Operating profit (loss) | 9901 | €312,478 | €181,894 | -€130,584 | -41.8% |
| Financial income | 75/76B | €54,334 | €58,946 | +€4,612 | +8.5% |
| Recurring financial income | 75 | €54,334 | €58,946 | +€4,612 | +8.5% |
| Financial charges | 65/66B | €8,942 | €12,068 | +€3,126 | +35.0% |
| Recurring financial charges | 65 | €8,942 | €12,068 | +€3,126 | +35.0% |
| Profit (loss) for the period before taxes | 9903 | €357,870 | €228,772 | -€129,098 | -36.1% |
| Transfer from deferred taxes | 780 | €623 | €232 | -€392 | -62.8% |
| Transfer to deferred taxes | 680 | €9,054 | €17,360 | +€8,306 | +91.7% |
| Income taxes | 67/77 | €81,037 | €40,665 | -€40,372 | -49.8% |
| Profit (loss) for the period | 9904 | €268,402 | €170,980 | -€97,423 | -36.3% |
| Transfer from tax-exempt reserves | 789 | €1,870 | €696 | -€1,175 | -62.8% |
| Transfer to tax-exempt reserves | 689 | €27,162 | €52,080 | +€24,918 | +91.7% |
| Profit (loss) for the period to be appropriated | 9905 | €243,111 | €119,596 | -€123,515 | -50.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.