RABELAIS: 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.
RABELAIS
Largest movements
- Tangible fixed assets +€97,740
up €97,740 (+26.1%), from €375,100 to €472,840
of which Other tangible fixed assets: +€79,104
- Receivables within one year -€46,838
down €46,838 (-88.1%), from €53,164 to €6,327
of which Other amounts receivable: -€29,341
- Intangible fixed assets -€26,865
down €26,865 (-12.6%), from €213,378 to €186,512
- Profit (loss) carried forward -€197,516
down €197,516 (-169.5%), from -€116,495 to -€314,010
- Trade debts +€189,721
up €189,721 (+130.7%), from €145,153 to €334,874
- Other debts +€79,042
up €79,042 (+23.8%), from €331,805 to €410,847
- Debts after one year -€63,998
down €63,998 (-39.9%), from €160,393 to €96,395
- Tax, wage and social debts +€20,193
up €20,193 (+15.4%), from €131,379 to €151,572
of which Taxes: +€31,625
- Turnover +€1.4m
new in 2025: €1.4m
- Purchases and services +€737,657
new in 2025: €737,657
- Staff costs +€61,169
up €61,169 (+9.5%), from €646,301 to €707,469
- Gross operating margin -€44,655
down €44,655 (-6.3%), from €704,213 to €659,558
- Depreciation +€31,658
up €31,658 (+47.3%), from €66,863 to €98,522
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 | €692,285 | €721,298 | +€29,013 | +4.2% |
| Fixed assets | 21/28 | €588,478 | €659,552 | +€71,074 | +12.1% |
| Intangible fixed assets | 21 | €213,378 | €186,512 | -€26,865 | -12.6% |
| Tangible fixed assets | 22/27 | €375,100 | €472,840 | +€97,740 | +26.1% |
| Plant, machinery and equipment | 23 | €40,533 | €56,105 | +€15,572 | +38.4% |
| Furniture and vehicles | 24 | €32,699 | €35,763 | +€3,063 | +9.4% |
| Other tangible fixed assets | 26 | €301,868 | €380,972 | +€79,104 | +26.2% |
| Financial fixed assets | 28 | - | €200 | +€200 | |
| Current assets | 29/58 | €103,807 | €61,746 | -€42,061 | -40.5% |
| Stocks and contracts in progress | 3 | €20,000 | €25,990 | +€5,990 | +30.0% |
| Stocks | 30/36 | €20,000 | €25,990 | +€5,990 | +30.0% |
| Amounts receivable within one year | 40/41 | €53,164 | €6,327 | -€46,838 | -88.1% |
| Trade receivables | 40 | €19,726 | €2,229 | -€17,496 | -88.7% |
| Other amounts receivable | 41 | €33,439 | €4,098 | -€29,341 | -87.7% |
| Cash at bank and in hand | 54/58 | €29,052 | €29,056 | +€4 | 0.0% |
| Deferred charges and accrued income | 490/1 | €1,590 | €373 | -€1,217 | -76.5% |
| Total equity and liabilities | 10/49 | €692,285 | €721,298 | +€29,013 | +4.2% |
| Equity | 10/15 | -€113,495 | -€311,010 | -€197,516 | -174.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€116,495 | -€314,010 | -€197,516 | -169.5% |
| Amounts payable | 17/49 | €805,779 | €1,032,309 | +€226,529 | +28.1% |
| Amounts payable after more than one year | 17 | €160,393 | €96,395 | -€63,998 | -39.9% |
| Financial debts | 170/4 | €160,393 | €96,395 | -€63,998 | -39.9% |
| Amounts payable within one year | 42/48 | €645,387 | €935,914 | +€290,527 | +45.0% |
| Current portion of amounts payable after more than one year | 42 | €37,050 | €38,620 | +€1,571 | +4.2% |
| Trade debts | 44 | €145,153 | €334,874 | +€189,721 | +130.7% |
| Suppliers | 440/4 | €145,153 | €334,874 | +€189,721 | +130.7% |
| Taxes, remuneration and social security | 45 | €131,379 | €151,572 | +€20,193 | +15.4% |
| Taxes | 450/3 | €64,507 | €96,132 | +€31,625 | +49.0% |
| Remuneration and social security | 454/9 | €66,873 | €55,441 | -€11,432 | -17.1% |
| Other amounts payable | 47/48 | €331,805 | €410,847 | +€79,042 | +23.8% |
| Turnover | 70 | - | €1,384,831 | +€1.4m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €737,657 | +€737,657 | |
| Remuneration, social security and pensions | 62 | €646,301 | €707,469 | +€61,169 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,863 | €98,522 | +€31,658 | +47.3% |
| Other operating charges | 640/8 | €9,324 | €12,717 | +€3,393 | +36.4% |
| Non-recurring operating charges | 66A | €600 | - | -€600 | |
| Gross operating margin | 9900 | €704,213 | €659,558 | -€44,655 | -6.3% |
| Operating profit (loss) | 9901 | -€18,874 | -€159,150 | -€140,275 | -743.2% |
| Financial income | 75/76B | €173 | €66 | -€106 | -61.6% |
| Recurring financial income | 75 | €173 | €66 | -€106 | -61.6% |
| Financial charges | 65/66B | €25,872 | €38,432 | +€12,561 | +48.5% |
| Recurring financial charges | 65 | €25,872 | €38,432 | +€12,561 | +48.5% |
| Profit (loss) for the period before taxes | 9903 | -€44,573 | -€197,516 | -€152,942 | -343.1% |
| Profit (loss) for the period | 9904 | -€44,573 | -€197,516 | -€152,942 | -343.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,573 | -€197,516 | -€152,942 | -343.1% |
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 6 October 2026 via checked.be.