RACO: 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.
RACO
Largest movements
- Cash +€8,140
up €8,140 (+77.5%), from €10,508 to €18,648
mainly Trade debts (+€15,606) and Receivables within one year (+€2,799)
- Receivables within one year -€2,799
down €2,799 (-13.4%), from €20,885 to €18,086
of which Trade receivables: -€3,797
- Deferred charges and accrued income +€2,362
up €2,362 (+798.6%), from €296 to €2,657
- Tangible fixed assets -€611
down €611 (-35.3%), from €1,728 to €1,117
- Trade debts +€15,606
up €15,606 (+1566.3%), from €996 to €16,603
- Profit (loss) carried forward -€5,869
down €5,869, from €2,046 to -€3,823
- Tax, wage and social debts -€3,391
down €3,391 (-28.6%), from €11,847 to €8,455
of which Taxes: -€3,391
- Other debts +€2,394
up €2,394 (+164.7%), from €1,453 to €3,847
- Current portion of long-term debt -€1,647
no longer reported in 2025 (was €1,647)
- Gross operating margin -€28,442
down €28,442, from €25,642 to -€2,800
- Taxes -€7,395
down €7,395 (-97.2%), from €7,605 to €210
- Write-downs +€1,000
new in 2025: €1,000
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 | €36,026 | €43,119 | +€7,092 | +19.7% |
| Fixed assets | 21/28 | €4,338 | €3,727 | -€611 | -14.1% |
| Tangible fixed assets | 22/27 | €1,728 | €1,117 | -€611 | -35.3% |
| Plant, machinery and equipment | 23 | €1,728 | €1,117 | -€611 | -35.3% |
| Financial fixed assets | 28 | €2,610 | €2,610 | = | 0.0% |
| Current assets | 29/58 | €31,688 | €39,391 | +€7,703 | +24.3% |
| Amounts receivable within one year | 40/41 | €20,885 | €18,086 | -€2,799 | -13.4% |
| Trade receivables | 40 | €18,367 | €14,570 | -€3,797 | -20.7% |
| Other amounts receivable | 41 | €2,518 | €3,516 | +€998 | +39.6% |
| Cash at bank and in hand | 54/58 | €10,508 | €18,648 | +€8,140 | +77.5% |
| Deferred charges and accrued income | 490/1 | €296 | €2,657 | +€2,362 | +798.6% |
| Total equity and liabilities | 10/49 | €36,026 | €43,119 | +€7,092 | +19.7% |
| Equity | 10/15 | €20,083 | €14,214 | -€5,869 | -29.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €16,037 | €16,037 | = | 0.0% |
| Distributable reserves | 133 | €16,037 | €16,037 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,046 | -€3,823 | -€5,869 | |
| Amounts payable | 17/49 | €15,944 | €28,905 | +€12,961 | +81.3% |
| Amounts payable within one year | 42/48 | €15,944 | €28,905 | +€12,961 | +81.3% |
| Current portion of amounts payable after more than one year | 42 | €1,647 | - | -€1,647 | |
| Trade debts | 44 | €996 | €16,603 | +€15,606 | +1566.3% |
| Suppliers | 440/4 | €996 | €16,603 | +€15,606 | +1566.3% |
| Taxes, remuneration and social security | 45 | €11,847 | €8,455 | -€3,391 | -28.6% |
| Taxes | 450/3 | €11,207 | €7,815 | -€3,391 | -30.3% |
| Remuneration and social security | 454/9 | €640 | €640 | = | 0.0% |
| Other amounts payable | 47/48 | €1,453 | €3,847 | +€2,394 | +164.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €717 | €611 | -€106 | -14.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,000 | +€1,000 | |
| Other operating charges | 640/8 | €177 | €386 | +€210 | +118.6% |
| Gross operating margin | 9900 | €25,642 | -€2,800 | -€28,442 | |
| Operating profit (loss) | 9901 | €24,748 | -€4,797 | -€29,545 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Non-recurring financial income | 76B | €1 | - | -€1 | |
| Financial charges | 65/66B | €1,107 | €862 | -€245 | -22.1% |
| Recurring financial charges | 65 | €1,098 | €858 | -€240 | -21.9% |
| Non-recurring financial charges | 66B | €8 | €4 | -€5 | -57.0% |
| Profit (loss) for the period before taxes | 9903 | €23,642 | -€5,659 | -€29,301 | |
| Income taxes | 67/77 | €7,605 | €210 | -€7,395 | -97.2% |
| Profit (loss) for the period | 9904 | €16,037 | -€5,869 | -€21,906 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,037 | -€5,869 | -€21,906 |
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 3 October 2026 via checked.be.