RACLETTA: 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.
RACLETTA
Largest movements
- Receivables within one year -€283,145
down €283,145 (-23.0%), from €1.2m to €949,110
of which Trade receivables: -€221,094
- Stocks and contracts +€240,870
up €240,870 (+36.9%), from €652,332 to €893,202
- Cash +€48,664
up €48,664 (+9.7%), from €504,136 to €552,800
mainly Net result for the year (+€294,400) and Receivables within one year (+€283,145)
- Other debts -€299,577
down €299,577 (-69.2%), from €433,198 to €133,621
- Reserves +€244,400
up €244,400 (+13.5%), from €1.8m to €2.1m
of which Distributable reserves: +€244,400
- Trade debts +€117,940
up €117,940 (+42.5%), from €277,741 to €395,680
- Debts after one year -€39,703
down €39,703 (-62.0%), from €64,027 to €24,324
- Gross operating margin -€309,938
down €309,938 (-24.3%), from €1.3m to €965,445
- Financial charges +€19,109
up €19,109 (+30.2%), from €63,274 to €82,383
- Depreciation +€16,366
up €16,366 (+12.1%), from €135,110 to €151,476
- Taxes -€15,642
down €15,642 (-17.0%), from €91,831 to €76,188
- Financial income -€14,894
down €14,894 (-52.2%), from €28,508 to €13,614
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,753,937 | €2,751,024 | -€2,913 | -0.1% |
| Fixed assets | 21/28 | €361,077 | €352,134 | -€8,943 | -2.5% |
| Tangible fixed assets | 22/27 | €361,077 | €352,134 | -€8,943 | -2.5% |
| Plant, machinery and equipment | 23 | €158,390 | €223,991 | +€65,601 | +41.4% |
| Furniture and vehicles | 24 | €32,527 | €16,166 | -€16,361 | -50.3% |
| Leasing and similar rights | 25 | €83,371 | €38,558 | -€44,813 | -53.8% |
| Other tangible fixed assets | 26 | €86,788 | €73,419 | -€13,370 | -15.4% |
| Current assets | 29/58 | €2,392,861 | €2,398,890 | +€6,030 | +0.3% |
| Stocks and contracts in progress | 3 | €652,332 | €893,202 | +€240,870 | +36.9% |
| Stocks | 30/36 | €652,332 | €893,202 | +€240,870 | +36.9% |
| Amounts receivable within one year | 40/41 | €1,232,255 | €949,110 | -€283,145 | -23.0% |
| Trade receivables | 40 | €772,084 | €550,990 | -€221,094 | -28.6% |
| Other amounts receivable | 41 | €460,171 | €398,120 | -€62,051 | -13.5% |
| Cash at bank and in hand | 54/58 | €504,136 | €552,800 | +€48,664 | +9.7% |
| Deferred charges and accrued income | 490/1 | €4,137 | €3,778 | -€360 | -8.7% |
| Total equity and liabilities | 10/49 | €2,753,937 | €2,751,024 | -€2,913 | -0.1% |
| Equity | 10/15 | €1,870,374 | €2,114,773 | +€244,400 | +13.1% |
| Contributions | 10/11 | €61,921 | €61,921 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Contributions outside capital | 11 | €421 | €421 | = | 0.0% |
| Share premium | 1100/10 | €421 | €421 | = | 0.0% |
| Reserves | 13 | €1,808,453 | €2,052,853 | +€244,400 | +13.5% |
| Non-distributable reserves | 130/1 | €10,659 | €10,659 | = | 0.0% |
| Legal reserve | 130 | €10,659 | €10,659 | = | 0.0% |
| Tax-exempt reserves | 132 | €180,924 | €180,924 | = | 0.0% |
| Distributable reserves | 133 | €1,616,870 | €1,861,269 | +€244,400 | +15.1% |
| Amounts payable | 17/49 | €883,564 | €636,251 | -€247,313 | -28.0% |
| Amounts payable after more than one year | 17 | €64,027 | €24,324 | -€39,703 | -62.0% |
| Financial debts | 170/4 | €64,027 | €24,324 | -€39,703 | -62.0% |
| Amounts payable within one year | 42/48 | €812,444 | €603,645 | -€208,799 | -25.7% |
| Current portion of amounts payable after more than one year | 42 | €59,818 | €39,803 | -€20,015 | -33.5% |
| Trade debts | 44 | €277,741 | €395,680 | +€117,940 | +42.5% |
| Suppliers | 440/4 | €277,741 | €395,680 | +€117,940 | +42.5% |
| Taxes, remuneration and social security | 45 | €41,687 | €34,540 | -€7,147 | -17.1% |
| Taxes | 450/3 | €8,124 | €770 | -€7,354 | -90.5% |
| Remuneration and social security | 454/9 | €33,562 | €33,770 | +€207 | +0.6% |
| Other amounts payable | 47/48 | €433,198 | €133,621 | -€299,577 | -69.2% |
| Accrued charges and deferred income | 492/3 | €7,093 | €8,283 | +€1,190 | +16.8% |
| Non-recurring operating income | 76A | - | €2,750 | +€2,750 | |
| Remuneration, social security and pensions | 62 | €374,828 | €372,257 | -€2,571 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,110 | €151,476 | +€16,366 | +12.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,764 | - | -€7,764 | |
| Other operating charges | 640/8 | €4,230 | €2,357 | -€1,874 | -44.3% |
| Gross operating margin | 9900 | €1,275,384 | €965,445 | -€309,938 | -24.3% |
| Operating profit (loss) | 9901 | €753,452 | €439,356 | -€314,096 | -41.7% |
| Financial income | 75/76B | €28,508 | €13,614 | -€14,894 | -52.2% |
| Recurring financial income | 75 | €28,508 | €13,614 | -€14,894 | -52.2% |
| Financial charges | 65/66B | €63,274 | €82,383 | +€19,109 | +30.2% |
| Recurring financial charges | 65 | €63,274 | €82,383 | +€19,109 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | €718,686 | €370,588 | -€348,099 | -48.4% |
| Income taxes | 67/77 | €91,831 | €76,188 | -€15,642 | -17.0% |
| Profit (loss) for the period | 9904 | €626,856 | €294,400 | -€332,456 | -53.0% |
| Profit (loss) for the period to be appropriated | 9905 | €626,856 | €294,400 | -€332,456 | -53.0% |
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 24 October 2026 via checked.be.