RACA: 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.
RACA
Largest movements
- Tangible fixed assets -€14,658
down €14,658 (-70.3%), from €20,842 to €6,185
of which Other tangible fixed assets: -€13,678
- Receivables within one year -€10,842
down €10,842 (-33.7%), from €32,214 to €21,372
of which Other amounts receivable: -€11,489
- Cash +€10,107
up €10,107 (+541.6%), from €1,866 to €11,973
mainly Depreciation (+€18,617) and Receivables within one year (+€10,842)
- Stocks and contracts -€3,595
down €3,595 (-100.0%), from €3,595 to €0
- Profit (loss) carried forward -€29,210
down €29,210 (-12.2%), from -€239,950 to -€269,160
- Accrued charges and deferred income +€7,639
up €7,639 (+8.5%), from €90,284 to €97,923
- Trade debts +€5,140
up €5,140 (+186.3%), from €2,760 to €7,900
- Tax, wage and social debts -€1,355
down €1,355 (-75.5%), from €1,795 to €440
- Short-term financial debts -€868
down €868 (-100.0%), from €868 to €0
- Gross operating margin -€8,159
down €8,159 (-86.9%), from €9,386 to €1,227
- Other operating charges +€1,672
up €1,672 (+20.9%), from €8,007 to €9,679
- Financial charges +€412
up €412 (+28.2%), from €1,461 to €1,873
- Staff costs +€397
up €397 (+102.5%), from €387 to €784
- Depreciation -€129
down €129 (-0.7%), from €18,746 to €18,617
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 | €62,920 | €43,974 | -€18,946 | -30.1% |
| Fixed assets | 21/28 | €23,707 | €9,049 | -€14,658 | -61.8% |
| Tangible fixed assets | 22/27 | €20,842 | €6,185 | -€14,658 | -70.3% |
| Land and buildings | 22 | €4,212 | €6,072 | +€1,859 | +44.1% |
| Plant, machinery and equipment | 23 | €663 | €113 | -€551 | -83.0% |
| Furniture and vehicles | 24 | €2,288 | €0 | -€2,288 | -100.0% |
| Other tangible fixed assets | 26 | €13,678 | €0 | -€13,678 | -100.0% |
| Financial fixed assets | 28 | €2,865 | €2,865 | = | 0.0% |
| Current assets | 29/58 | €39,213 | €34,925 | -€4,289 | -10.9% |
| Stocks and contracts in progress | 3 | €3,595 | €0 | -€3,595 | -100.0% |
| Stocks | 30/36 | €3,595 | €0 | -€3,595 | -100.0% |
| Amounts receivable within one year | 40/41 | €32,214 | €21,372 | -€10,842 | -33.7% |
| Trade receivables | 40 | €2,522 | €3,169 | +€647 | +25.6% |
| Other amounts receivable | 41 | €29,692 | €18,203 | -€11,489 | -38.7% |
| Cash at bank and in hand | 54/58 | €1,866 | €11,973 | +€10,107 | +541.6% |
| Deferred charges and accrued income | 490/1 | €1,539 | €1,580 | +€42 | +2.7% |
| Total equity and liabilities | 10/49 | €62,920 | €43,974 | -€18,946 | -30.1% |
| Equity | 10/15 | -€52,308 | -€81,518 | -€29,210 | -55.8% |
| Contributions | 10/11 | €115,000 | €115,000 | = | 0.0% |
| Capital | 10 | €115,000 | €115,000 | = | 0.0% |
| Issued capital | 100 | €115,000 | €115,000 | = | 0.0% |
| Reserves | 13 | €72,642 | €72,642 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,500 | €11,500 | = | 0.0% |
| Legal reserve | 130 | €11,500 | €11,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,142 | €6,142 | = | 0.0% |
| Distributable reserves | 133 | €55,000 | €55,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€239,950 | -€269,160 | -€29,210 | -12.2% |
| Amounts payable | 17/49 | €115,228 | €125,492 | +€10,264 | +8.9% |
| Amounts payable within one year | 42/48 | €24,944 | €27,569 | +€2,625 | +10.5% |
| Financial debts | 43 | €868 | €0 | -€868 | -100.0% |
| Credit institutions | 430/8 | €868 | €0 | -€868 | -100.0% |
| Trade debts | 44 | €2,760 | €7,900 | +€5,140 | +186.3% |
| Suppliers | 440/4 | €2,760 | €7,900 | +€5,140 | +186.3% |
| Taxes, remuneration and social security | 45 | €1,795 | €440 | -€1,355 | -75.5% |
| Taxes | 450/3 | €1,795 | €440 | -€1,355 | -75.5% |
| Other amounts payable | 47/48 | €19,522 | €19,229 | -€293 | -1.5% |
| Accrued charges and deferred income | 492/3 | €90,284 | €97,923 | +€7,639 | +8.5% |
| Remuneration, social security and pensions | 62 | €387 | €784 | +€397 | +102.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,746 | €18,617 | -€129 | -0.7% |
| Other operating charges | 640/8 | €8,007 | €9,679 | +€1,672 | +20.9% |
| Gross operating margin | 9900 | €9,386 | €1,227 | -€8,159 | -86.9% |
| Operating profit (loss) | 9901 | -€17,754 | -€27,853 | -€10,099 | -56.9% |
| Financial income | 75/76B | €571 | €681 | +€110 | +19.3% |
| Recurring financial income | 75 | €571 | €681 | +€110 | +19.3% |
| Financial charges | 65/66B | €1,461 | €1,873 | +€412 | +28.2% |
| Recurring financial charges | 65 | €1,461 | €1,873 | +€412 | +28.2% |
| Profit (loss) for the period before taxes | 9903 | -€18,645 | -€29,045 | -€10,400 | -55.8% |
| Income taxes | 67/77 | €128 | €165 | +€37 | +28.9% |
| Profit (loss) for the period | 9904 | -€18,773 | -€29,210 | -€10,437 | -55.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,773 | -€29,210 | -€10,437 | -55.6% |
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 1 October 2026 via checked.be.