RABAUT CONSTRUCT: 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
RABAUT CONSTRUCT
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€311,033
2024 · €1.1m-€802,191
Equity
€5.4m
2024 · €6.0m-€634,967
Cash
€245,019
2024 · €131,925+€113,093
Balance sheet total
€5.9m
2024 · €6.5m-€587,667
Largest movements
Assets
- Current investments -€500,000
down €500,000 (-10.9%), from €4.6m to €4.1m
- Stocks and contracts -€145,370
down €145,370 (-16.7%), from €872,733 to €727,363
of which Stocks: -€376,930
- Cash +€113,093
up €113,093 (+85.7%), from €131,925 to €245,019
mainly Current investments (+€500,000) and Net result for the year (+€311,033)
Equity and liabilities
- Contributions -€945,000
down €945,000 (-93.8%), from €1.0m to €62,000
- Reserves +€307,622
up €307,622 (+6.1%), from €5.0m to €5.3m
of which Distributable reserves: +€307,622
Income statement
- Gross operating margin -€1.1m
down €1.1m (-70.4%), from €1.5m to €446,978
- Taxes -€267,669
down €267,669 (-65.6%), from €407,742 to €140,073
- Financial income -€43,351
down €43,351 (-36.9%), from €117,426 to €74,075
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.
Result 2024
€1.1m
Gross operating margin
-€1.1m
Depreciation
-€1,746
Other operating charges
+€297
Other operating items
+€15,907
Financial income
-€43,351
Financial charges
+€6,771
Taxes
+€267,669
Deferred taxes and other
+€17,692
Result 2025
€311,033
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
+€551,986
Investment
+€507,107
Financing
-€946,000
Cash 2024
€131,925
From operations (derived)
+€551,986
Net result for the year
+€311,033
Depreciation
+€57,255
Stocks and contracts
+€145,370
Receivables within one year
-€9,884
Smaller working-capital items
+€365
Tax, wage and social debts
+€12,952
Other debts
-€9,632
Accrued charges and deferred income
+€44,527
Investment (derived)
+€507,107
Investment in fixed assets (net)
+€7,107
Current investments
+€500,000
Financing
-€946,000
Contributions, distributions and other
-€946,000
Cash 2025
€245,019
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,488,671 | €5,901,004 | -€587,667 | -9.1% |
| Fixed assets | 21/28 | €763,529 | €699,167 | -€64,362 | -8.4% |
| Tangible fixed assets | 22/27 | €753,529 | €699,167 | -€54,362 | -7.2% |
| Land and buildings | 22 | €661,046 | €628,549 | -€32,497 | -4.9% |
| Plant, machinery and equipment | 23 | €1,321 | €1,169 | -€152 | -11.5% |
| Furniture and vehicles | 24 | €91,163 | €69,449 | -€21,714 | -23.8% |
| Financial fixed assets | 28 | €10,000 | €0 | -€10,000 | -100% |
| Current assets | 29/58 | €5,725,142 | €5,201,837 | -€523,305 | -9.1% |
| Stocks and contracts in progress | 3 | €872,733 | €727,363 | -€145,370 | -16.7% |
| Stocks | 30/36 | €788,917 | €411,986 | -€376,930 | -47.8% |
| Contracts in progress | 37 | €83,816 | €315,377 | +€231,561 | +276% |
| Amounts receivable within one year | 40/41 | €119,570 | €129,455 | +€9,884 | +8.3% |
| Trade receivables | 40 | €27,605 | €63,593 | +€35,989 | +130% |
| Other amounts receivable | 41 | €91,966 | €65,861 | -€26,105 | -28.4% |
| Current investments | 50/53 | €4,600,000 | €4,100,000 | -€500,000 | -10.9% |
| Cash at bank and in hand | 54/58 | €131,925 | €245,019 | +€113,093 | +85.7% |
| Deferred charges and accrued income | 490/1 | €913 | €0 | -€913 | -100% |
| Total equity and liabilities | 10/49 | €6,488,671 | €5,901,004 | -€587,667 | -9.1% |
| Equity | 10/15 | €6,019,548 | €5,384,581 | -€634,967 | -10.5% |
| Contributions | 10/11 | €1,007,000 | €62,000 | -€945,000 | -93.8% |
| Reserves | 13 | €5,014,960 | €5,322,581 | +€307,622 | +6.1% |
| Tax-exempt reserves | 132 | €109,478 | €109,478 | = | 0.0% |
| Distributable reserves | 133 | €4,905,482 | €5,213,104 | +€307,622 | +6.3% |
| Profit (loss) carried forward | 14 | -€2,412 | €0 | +€2,412 | |
| Provisions and deferred taxes | 16 | €36,493 | €36,493 | = | 0.0% |
| Deferred taxes | 168 | €36,493 | €36,493 | = | 0.0% |
| Amounts payable | 17/49 | €432,630 | €479,930 | +€47,300 | +10.9% |
| Amounts payable within one year | 42/48 | €129,697 | €132,470 | +€2,773 | +2.1% |
| Trade debts | 44 | €22,018 | €21,471 | -€547 | -2.5% |
| Suppliers | 440/4 | €22,018 | €21,471 | -€547 | -2.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €71,030 | €83,982 | +€12,952 | +18.2% |
| Taxes | 450/3 | €69,530 | €82,482 | +€12,952 | +18.6% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €36,648 | €27,017 | -€9,632 | -26.3% |
| Accrued charges and deferred income | 492/3 | €302,934 | €347,460 | +€44,527 | +14.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,509 | €57,255 | +€1,746 | +3.1% |
| Other operating charges | 640/8 | €7,913 | €7,616 | -€297 | -3.8% |
| Non-recurring operating charges | 66A | €15,907 | €0 | -€15,907 | -100% |
| Gross operating margin | 9900 | €1,512,409 | €446,978 | -€1.1m | -70.4% |
| Operating profit (loss) | 9901 | €1,433,080 | €382,108 | -€1.1m | -73.3% |
| Financial income | 75/76B | €117,426 | €74,075 | -€43,351 | -36.9% |
| Recurring financial income | 75 | €117,426 | €74,075 | -€43,351 | -36.9% |
| Financial charges | 65/66B | €11,848 | €5,077 | -€6,771 | -57.2% |
| Recurring financial charges | 65 | €11,848 | €5,077 | -€6,771 | -57.2% |
| Profit (loss) for the period before taxes | 9903 | €1,538,659 | €451,107 | -€1.1m | -70.7% |
| Transfer to deferred taxes | 680 | €17,692 | €0 | -€17,692 | -100% |
| Income taxes | 67/77 | €407,742 | €140,073 | -€267,669 | -65.6% |
| Profit (loss) for the period | 9904 | €1,113,225 | €311,033 | -€802,191 | -72.1% |
| Transfer to tax-exempt reserves | 689 | €53,075 | €0 | -€53,075 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €1,060,149 | €311,033 | -€749,116 | -70.7% |
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 30 October 2026 via checked.be.