RAC 3: 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
RAC 3
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€419,119
2024 · €397,214+€21,905
Equity
€5.6m
2024 · €5.2m+€419,119
Cash
€133,854
2024 · €131,871+€1,983
Balance sheet total
€29.2m
2024 · €28.7m+€432,963
Largest movements
Assets
- Receivables within one year +€438,826
up €438,826 (+4.8%), from €9.1m to €9.6m
of which Other amounts receivable: +€437,561
Equity and liabilities
- Profit (loss) carried forward +€398,163
up €398,163 (+35.4%), from €1.1m to €1.5m
Income statement
- Financial income +€20,593
up €20,593 (+4.7%), from €435,691 to €456,284
- Turnover +€6,473
up €6,473 (+105%), from €6,148 to €12,621
- Services and other goods +€4,975
up €4,975 (+15.9%), from €31,322 to €36,297
- Financial charges +€435
up €435 (+213%), from €204 to €639
- Other operating charges -€250
down €250 (-4.8%), from €5,224 to €4,974
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
€397,214
Turnover
+€6,473
Services and other goods
-€4,975
Depreciation
-€1
Other operating charges
+€250
Financial income
+€20,593
Financial charges
-€435
Result 2025
€419,119
raises the resultlowers the result
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
+€1,983
Investment
€0
Financing
€0
Cash 2024
€131,871
From operations (derived)
+€1,983
Net result for the year
+€419,119
Depreciation
+€7,876
Receivables within one year
-€438,826
Smaller working-capital items
+€917
Trade debts
+€10,368
Other debts
+€2,529
Cash 2025
€133,854
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €28,744,536 | €29,177,499 | +€432,963 | +1.5% |
| Fixed assets | 21/28 | €315,938 | €308,062 | -€7,876 | -2.5% |
| Tangible fixed assets | 22/27 | €315,938 | €308,062 | -€7,876 | -2.5% |
| Land and buildings | 22 | €315,938 | €308,062 | -€7,876 | -2.5% |
| Current assets | 29/58 | €28,428,598 | €28,869,437 | +€440,839 | +1.6% |
| Stocks and contracts in progress | 3 | €19,148,777 | €19,148,777 | = | 0.0% |
| Stocks | 30/36 | €19,148,777 | €19,148,777 | = | 0.0% |
| Property held for sale | 35 | €19,148,777 | €19,148,777 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,146,938 | €9,585,764 | +€438,826 | +4.8% |
| Trade receivables | 40 | €2,530 | €3,795 | +€1,265 | +50.0% |
| Other amounts receivable | 41 | €9,144,408 | €9,581,969 | +€437,561 | +4.8% |
| Cash at bank and in hand | 54/58 | €131,871 | €133,854 | +€1,983 | +1.5% |
| Deferred charges and accrued income | 490/1 | €1,012 | €1,042 | +€30 | +3.0% |
| Total equity and liabilities | 10/49 | €28,744,536 | €29,177,499 | +€432,963 | +1.5% |
| Equity | 10/15 | €5,227,263 | €5,646,382 | +€419,119 | +8.0% |
| Contributions | 10/11 | €3,950,071 | €3,950,071 | = | 0.0% |
| Capital | 10 | €3,950,071 | €3,950,071 | = | 0.0% |
| Issued capital | 100 | €3,950,071 | €3,950,071 | = | 0.0% |
| Reserves | 13 | €152,608 | €173,564 | +€20,956 | +13.7% |
| Non-distributable reserves | 130/1 | €152,608 | €173,564 | +€20,956 | +13.7% |
| Legal reserve | 130 | €152,608 | €173,564 | +€20,956 | +13.7% |
| Profit (loss) carried forward | 14 | €1,124,584 | €1,522,747 | +€398,163 | +35.4% |
| Amounts payable | 17/49 | €23,517,273 | €23,531,117 | +€13,844 | +0.1% |
| Amounts payable within one year | 42/48 | €23,517,273 | €23,531,117 | +€13,844 | +0.1% |
| Trade debts | 44 | €21,308 | €31,676 | +€10,368 | +48.7% |
| Suppliers | 440/4 | €21,308 | €31,676 | +€10,368 | +48.7% |
| Advances received on contracts in progress | 46 | €23,495,965 | €23,495,964 | -€1 | 0.0% |
| Taxes, remuneration and social security | 45 | - | €948 | +€948 | |
| Taxes | 450/3 | - | €948 | +€948 | |
| Other amounts payable | 47/48 | - | €2,529 | +€2,529 | |
| Operating income | 70/76A | €6,148 | €12,621 | +€6,473 | +105% |
| Turnover | 70 | €6,148 | €12,621 | +€6,473 | +105% |
| Operating charges | 60/66A | €44,421 | €49,147 | +€4,726 | +10.6% |
| Services and other goods | 61 | €31,322 | €36,297 | +€4,975 | +15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,875 | €7,876 | +€1 | 0.0% |
| Other operating charges | 640/8 | €5,224 | €4,974 | -€250 | -4.8% |
| Operating profit (loss) | 9901 | -€38,273 | -€36,526 | +€1,747 | +4.6% |
| Financial income | 75/76B | €435,691 | €456,284 | +€20,593 | +4.7% |
| Recurring financial income | 75 | €435,691 | €456,284 | +€20,593 | +4.7% |
| Income from current assets | 751 | €435,691 | €456,284 | +€20,593 | +4.7% |
| Financial charges | 65/66B | €204 | €639 | +€435 | +213% |
| Recurring financial charges | 65 | €204 | €639 | +€435 | +213% |
| Other financial charges | 652/9 | €204 | €639 | +€435 | +213% |
| Profit (loss) for the period before taxes | 9903 | €397,214 | €419,119 | +€21,905 | +5.5% |
| Profit (loss) for the period | 9904 | €397,214 | €419,119 | +€21,905 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €397,214 | €419,119 | +€21,905 | +5.5% |
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 17 October 2026 via checked.be.