RACZ CONSULT: 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.
RACZ CONSULT
Largest movements
- Receivables within one year +€42,765
up €42,765 (+124%), from €34,418 to €77,182
of which Other amounts receivable: +€27,859
- Cash +€30,174
up €30,174 (+102%), from €29,675 to €59,848
mainly Net result for the year (+€35,534) and Trade debts (+€27,990)
- Reserves +€35,530
new in 2025: €35,530
- Trade debts +€27,990
up €27,990 (+11,807%), from €237 to €28,228
- Tax, wage and social debts +€9,257
up €9,257 (+101%), from €9,131 to €18,389
- Gross operating margin -€12,975
down €12,975 (-19.9%), from €65,107 to €52,132
- Taxes +€1,424
up €1,424 (+10.6%), from €13,447 to €14,871
- Financial income -€945
down €945 (-100.0%), from €946 to €0
- Depreciation +€878
up €878 (+1,044%), from €84 to €963
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 | €66,896 | €138,878 | +€71,982 | +108% |
| Fixed assets | 21/28 | €2,804 | €1,841 | -€963 | -34.3% |
| Tangible fixed assets | 22/27 | €2,804 | €1,841 | -€963 | -34.3% |
| Plant, machinery and equipment | 23 | €2,804 | €1,841 | -€963 | -34.3% |
| Current assets | 29/58 | €64,092 | €137,037 | +€72,945 | +114% |
| Amounts receivable within one year | 40/41 | €34,418 | €77,182 | +€42,765 | +124% |
| Trade receivables | 40 | €12,197 | €27,103 | +€14,906 | +122% |
| Other amounts receivable | 41 | €22,221 | €50,080 | +€27,859 | +125% |
| Cash at bank and in hand | 54/58 | €29,675 | €59,848 | +€30,174 | +102% |
| Deferred charges and accrued income | 490/1 | - | €6 | +€6 | |
| Total equity and liabilities | 10/49 | €66,896 | €138,878 | +€71,982 | +108% |
| Equity | 10/15 | €56,727 | €92,262 | +€35,534 | +62.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €35,530 | +€35,530 | |
| Distributable reserves | 133 | - | €35,530 | +€35,530 | |
| Profit (loss) carried forward | 14 | €54,227 | €54,231 | +€4 | 0.0% |
| Amounts payable | 17/49 | €10,168 | €46,616 | +€36,448 | +358% |
| Amounts payable within one year | 42/48 | €10,168 | €46,616 | +€36,448 | +358% |
| Trade debts | 44 | €237 | €28,228 | +€27,990 | +11,807% |
| Suppliers | 440/4 | €237 | €28,228 | +€27,990 | +11,807% |
| Taxes, remuneration and social security | 45 | €9,131 | €18,389 | +€9,257 | +101% |
| Taxes | 450/3 | €9,131 | €18,389 | +€9,257 | +101% |
| Other amounts payable | 47/48 | €800 | - | -€800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84 | €963 | +€878 | +1,044% |
| Other operating charges | 640/8 | - | €180 | +€180 | |
| Gross operating margin | 9900 | €65,107 | €52,132 | -€12,975 | -19.9% |
| Operating profit (loss) | 9901 | €65,023 | €50,989 | -€14,034 | -21.6% |
| Financial income | 75/76B | €946 | €0 | -€945 | -100.0% |
| Recurring financial income | 75 | €946 | €0 | -€945 | -100.0% |
| Financial charges | 65/66B | €345 | €585 | +€239 | +69.2% |
| Recurring financial charges | 65 | €345 | €585 | +€239 | +69.2% |
| Profit (loss) for the period before taxes | 9903 | €65,623 | €50,405 | -€15,218 | -23.2% |
| Income taxes | 67/77 | €13,447 | €14,871 | +€1,424 | +10.6% |
| Profit (loss) for the period | 9904 | €52,176 | €35,534 | -€16,642 | -31.9% |
| Profit (loss) for the period to be appropriated | 9905 | €52,176 | €35,534 | -€16,642 | -31.9% |
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 21 October 2026 via checked.be.