RACM IMMO: 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
RACM IMMO
NACE 52.100, Warehousing and storage
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€11,002
2024 · €16,510-€5,508
Equity
€60,857
2024 · €49,855+€11,002
Cash
€12,851
2024 · €18,497-€5,646
Balance sheet total
€1.5m
2024 · €1.6m-€22,071
Largest movements
Assets
- Tangible fixed assets -€17,908
down €17,908 (-1.2%), from €1.5m to €1.5m
of which Land and buildings: -€41,460
Equity and liabilities
- Debts after one year -€46,304
down €46,304 (-5.1%), from €910,351 to €864,048
- Trade debts +€18,020
up €18,020 (+64.9%), from €27,759 to €45,779
Income statement
- Gross operating margin -€8,150
down €8,150 (-7.1%), from €114,159 to €106,009
- Depreciation -€2,903
down €2,903 (-5.1%), from €56,782 to €53,879
- Other operating charges +€1,738
up €1,738 (+11.3%), from €15,326 to €17,064
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
€16,510
Gross operating margin
-€8,150
Depreciation
+€2,903
Other operating charges
-€1,738
Financial income
-€20
Financial charges
+€849
Taxes
+€648
Result 2025
€11,002
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
+€75,300
Investment
-€35,600
Financing
-€45,347
Cash 2024
€18,497
From operations (derived)
+€75,300
Net result for the year
+€11,002
Depreciation
+€53,879
Receivables within one year
-€1,360
Deferred charges and accrued income
-€494
Trade debts
+€18,020
Tax, wage and social debts
-€361
Advances received
-€1,500
Other debts
-€3,900
Accrued charges and deferred income
+€15
Investment (derived)
-€35,600
Investment in fixed assets (net)
-€35,600
Financing
-€45,347
Debts after one year
-€46,304
Current portion of long-term debt
+€957
Cash 2025
€12,851
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,550,753 | €1,528,682 | -€22,071 | -1.4% |
| Formation expenses | 20 | €564 | €192 | -€371 | -65.9% |
| Fixed assets | 21/28 | €1,529,861 | €1,511,953 | -€17,908 | -1.2% |
| Tangible fixed assets | 22/27 | €1,529,861 | €1,511,953 | -€17,908 | -1.2% |
| Land and buildings | 22 | €1,437,666 | €1,396,206 | -€41,460 | -2.9% |
| Plant, machinery and equipment | 23 | €92,195 | €115,747 | +€23,552 | +25.5% |
| Current assets | 29/58 | €20,328 | €16,536 | -€3,792 | -18.7% |
| Amounts receivable within one year | 40/41 | €1,124 | €2,484 | +€1,360 | +121% |
| Trade receivables | 40 | €1,124 | €2,473 | +€1,349 | +120% |
| Other amounts receivable | 41 | - | €11 | +€11 | |
| Cash at bank and in hand | 54/58 | €18,497 | €12,851 | -€5,646 | -30.5% |
| Deferred charges and accrued income | 490/1 | €707 | €1,201 | +€494 | +69.8% |
| Total equity and liabilities | 10/49 | €1,550,753 | €1,528,682 | -€22,071 | -1.4% |
| Equity | 10/15 | €49,855 | €60,857 | +€11,002 | +22.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €34,855 | €45,857 | +€11,002 | +31.6% |
| Distributable reserves | 133 | €34,855 | €45,857 | +€11,002 | +31.6% |
| Amounts payable | 17/49 | €1,500,898 | €1,467,825 | -€33,073 | -2.2% |
| Amounts payable after more than one year | 17 | €910,351 | €864,048 | -€46,304 | -5.1% |
| Financial debts | 170/4 | €910,351 | €864,048 | -€46,304 | -5.1% |
| Amounts payable within one year | 42/48 | €590,087 | €603,302 | +€13,215 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €45,347 | €46,304 | +€957 | +2.1% |
| Trade debts | 44 | €27,759 | €45,779 | +€18,020 | +64.9% |
| Suppliers | 440/4 | €27,759 | €45,779 | +€18,020 | +64.9% |
| Advances received on contracts in progress | 46 | €1,500 | - | -€1,500 | |
| Taxes, remuneration and social security | 45 | €11,590 | €11,229 | -€361 | -3.1% |
| Taxes | 450/3 | €11,590 | €11,229 | -€361 | -3.1% |
| Other amounts payable | 47/48 | €503,890 | €499,990 | -€3,900 | -0.8% |
| Accrued charges and deferred income | 492/3 | €460 | €475 | +€15 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,782 | €53,879 | -€2,903 | -5.1% |
| Other operating charges | 640/8 | €15,326 | €17,064 | +€1,738 | +11.3% |
| Gross operating margin | 9900 | €114,159 | €106,009 | -€8,150 | -7.1% |
| Operating profit (loss) | 9901 | €42,051 | €35,067 | -€6,985 | -16.6% |
| Financial income | 75/76B | €20 | - | -€20 | |
| Recurring financial income | 75 | €20 | - | -€20 | |
| Financial charges | 65/66B | €22,086 | €21,237 | -€849 | -3.8% |
| Recurring financial charges | 65 | €22,086 | €21,237 | -€849 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €19,985 | €13,829 | -€6,156 | -30.8% |
| Income taxes | 67/77 | €3,475 | €2,827 | -€648 | -18.6% |
| Profit (loss) for the period | 9904 | €16,510 | €11,002 | -€5,508 | -33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,510 | €11,002 | -€5,508 | -33.4% |
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 19 October 2026 via checked.be.