RABELCO: 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.
RABELCO
Largest movements
- Cash -€48,695
down €48,695 (-55.8%), from €87,337 to €38,642
mainly Contributions, distributions and other (-€52,500) and Debts after one year (-€42,500)
- Receivables within one year -€47,329
down €47,329 (-66.5%), from €71,170 to €23,841
of which Trade receivables: -€48,227
- Tangible fixed assets -€8,381
down €8,381 (-4.8%), from €172,996 to €164,615
of which Furniture and vehicles: -€5,182
- Deferred charges and accrued income +€7,423
up €7,423 (+243.7%), from €3,046 to €10,469
- Debts after one year -€42,500
down €42,500 (-100.0%), from €42,500 to €0
- Other debts -€42,244
down €42,244 (-96.9%), from €43,575 to €1,331
- Reserves -€7,507
down €7,507 (-1.6%), from €472,761 to €465,254
- Other operating charges -€11,813
down €11,813 (-77.8%), from €15,188 to €3,375
- Gross operating margin -€8,209
down €8,209 (-11.5%), from €71,202 to €62,993
- Financial charges -€4,434
down €4,434 (-56.2%), from €7,890 to €3,456
- Taxes +€2,932
up €2,932 (+19.3%), from €15,215 to €18,147
- Depreciation +€2,674
up €2,674 (+22.9%), from €11,682 to €14,356
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 | €580,669 | €483,687 | -€96,982 | -16.7% |
| Fixed assets | 21/28 | €418,516 | €410,135 | -€8,381 | -2.0% |
| Tangible fixed assets | 22/27 | €172,996 | €164,615 | -€8,381 | -4.8% |
| Land and buildings | 22 | €158,596 | €158,221 | -€375 | -0.2% |
| Plant, machinery and equipment | 23 | €1,887 | €753 | -€1,135 | -60.1% |
| Furniture and vehicles | 24 | €5,765 | €582 | -€5,182 | -89.9% |
| Other tangible fixed assets | 26 | €6,748 | €5,059 | -€1,689 | -25.0% |
| Financial fixed assets | 28 | €245,521 | €245,521 | = | 0.0% |
| Current assets | 29/58 | €162,153 | €73,552 | -€88,601 | -54.6% |
| Stocks and contracts in progress | 3 | €600 | €600 | = | 0.0% |
| Stocks | 30/36 | €600 | €600 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €71,170 | €23,841 | -€47,329 | -66.5% |
| Trade receivables | 40 | €67,808 | €19,580 | -€48,227 | -71.1% |
| Other amounts receivable | 41 | €3,362 | €4,261 | +€899 | +26.7% |
| Cash at bank and in hand | 54/58 | €87,337 | €38,642 | -€48,695 | -55.8% |
| Deferred charges and accrued income | 490/1 | €3,046 | €10,469 | +€7,423 | +243.7% |
| Total equity and liabilities | 10/49 | €580,669 | €483,687 | -€96,982 | -16.7% |
| Equity | 10/15 | €480,849 | €471,459 | -€9,390 | -2.0% |
| Contributions | 10/11 | €8,065 | €6,205 | -€1,860 | -23.1% |
| Reserves | 13 | €472,761 | €465,254 | -€7,507 | -1.6% |
| Distributable reserves | 133 | €472,761 | €465,254 | -€7,507 | -1.6% |
| Profit (loss) carried forward | 14 | €23 | €0 | -€23 | -100.0% |
| Amounts payable | 17/49 | €99,820 | €12,228 | -€87,592 | -87.7% |
| Amounts payable after more than one year | 17 | €42,500 | €0 | -€42,500 | -100.0% |
| Financial debts | 170/4 | €42,500 | €0 | -€42,500 | -100.0% |
| Amounts payable within one year | 42/48 | €53,911 | €12,228 | -€41,683 | -77.3% |
| Trade debts | 44 | €2,674 | €2,385 | -€289 | -10.8% |
| Suppliers | 440/4 | €2,674 | €2,385 | -€289 | -10.8% |
| Taxes, remuneration and social security | 45 | €7,663 | €8,512 | +€850 | +11.1% |
| Taxes | 450/3 | €7,663 | €8,512 | +€850 | +11.1% |
| Other amounts payable | 47/48 | €43,575 | €1,331 | -€42,244 | -96.9% |
| Accrued charges and deferred income | 492/3 | €3,409 | €0 | -€3,409 | -100.0% |
| Non-recurring operating income | 76A | €10,000 | €0 | -€10,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,682 | €14,356 | +€2,674 | +22.9% |
| Other operating charges | 640/8 | €15,188 | €3,375 | -€11,813 | -77.8% |
| Gross operating margin | 9900 | €71,202 | €62,993 | -€8,209 | -11.5% |
| Operating profit (loss) | 9901 | €44,332 | €45,262 | +€930 | +2.1% |
| Financial income | 75/76B | €16,987 | €19,452 | +€2,465 | +14.5% |
| Recurring financial income | 75 | €16,987 | €19,452 | +€2,465 | +14.5% |
| Financial charges | 65/66B | €7,890 | €3,456 | -€4,434 | -56.2% |
| Recurring financial charges | 65 | €7,890 | €3,456 | -€4,434 | -56.2% |
| Profit (loss) for the period before taxes | 9903 | €53,429 | €61,257 | +€7,828 | +14.7% |
| Income taxes | 67/77 | €15,215 | €18,147 | +€2,932 | +19.3% |
| Profit (loss) for the period | 9904 | €38,214 | €43,110 | +€4,896 | +12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,214 | €43,110 | +€4,896 | +12.8% |
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 12 October 2026 via checked.be.