RAD - ALEX: 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.
RAD - ALEX
Largest movements
- Cash +€24,527
up €24,527 (+21.4%), from €114,541 to €139,069
mainly Net result for the year (+€47,179) and Depreciation (+€11,025)
- Tangible fixed assets -€8,288
down €8,288 (-15.5%), from €53,574 to €45,286
of which Furniture and vehicles: -€7,850
- Reserves +€47,179
up €47,179 (+18.7%), from €252,225 to €299,404
of which Distributable reserves: +€47,179
- Tax, wage and social debts -€22,852
down €22,852 (-91.0%), from €25,109 to €2,257
of which Taxes: -€22,852
- Debts after one year -€8,871
down €8,871 (-40.4%), from €21,980 to €13,109
- Gross operating margin -€17,423
down €17,423 (-18.0%), from €97,003 to €79,579
- Taxes -€4,653
down €4,653 (-19.5%), from €23,806 to €19,153
- Depreciation +€4,387
up €4,387 (+66.1%), from €6,638 to €11,025
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 | €319,508 | €334,525 | +€15,017 | +4.7% |
| Fixed assets | 21/28 | €53,574 | €45,286 | -€8,288 | -15.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €53,574 | €45,286 | -€8,288 | -15.5% |
| Furniture and vehicles | 24 | €51,681 | €43,831 | -€7,850 | -15.2% |
| Other tangible fixed assets | 26 | €1,893 | €1,455 | -€438 | -23.1% |
| Current assets | 29/58 | €265,934 | €289,239 | +€23,305 | +8.8% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Current investments | 50/53 | €150,000 | €150,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €114,541 | €139,069 | +€24,527 | +21.4% |
| Deferred charges and accrued income | 490/1 | €1,393 | €170 | -€1,223 | -87.8% |
| Total equity and liabilities | 10/49 | €319,508 | €334,525 | +€15,017 | +4.7% |
| Equity | 10/15 | €259,010 | €306,189 | +€47,179 | +18.2% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Capital | 10 | €6,205 | €6,205 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €252,225 | €299,404 | +€47,179 | +18.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €250,365 | €297,544 | +€47,179 | +18.8% |
| Profit (loss) carried forward | 14 | €581 | €581 | = | 0.0% |
| Amounts payable | 17/49 | €60,497 | €28,335 | -€32,162 | -53.2% |
| Amounts payable after more than one year | 17 | €21,980 | €13,109 | -€8,871 | -40.4% |
| Financial debts | 170/4 | €21,980 | €13,109 | -€8,871 | -40.4% |
| Amounts payable within one year | 42/48 | €38,517 | €15,226 | -€23,291 | -60.5% |
| Current portion of amounts payable after more than one year | 42 | €8,566 | €8,871 | +€304 | +3.6% |
| Trade debts | 44 | €1,067 | €499 | -€569 | -53.3% |
| Suppliers | 440/4 | €1,067 | €499 | -€569 | -53.3% |
| Taxes, remuneration and social security | 45 | €25,109 | €2,257 | -€22,852 | -91.0% |
| Taxes | 450/3 | €25,109 | €2,257 | -€22,852 | -91.0% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €3,774 | €3,599 | -€176 | -4.7% |
| Turnover | 70 | €220,926 | €219,795 | -€1,131 | -0.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €149,444 | €147,444 | -€2,000 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,638 | €11,025 | +€4,387 | +66.1% |
| Other operating charges | 640/8 | €2,056 | €928 | -€1,128 | -54.9% |
| Gross operating margin | 9900 | €97,003 | €79,579 | -€17,423 | -18.0% |
| Operating profit (loss) | 9901 | €88,309 | €67,626 | -€20,683 | -23.4% |
| Financial income | 75/76B | €89 | - | -€89 | |
| Recurring financial income | 75 | €89 | - | -€89 | |
| Financial charges | 65/66B | €1,228 | €1,294 | +€65 | +5.3% |
| Recurring financial charges | 65 | €1,228 | €1,294 | +€65 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €87,169 | €66,332 | -€20,837 | -23.9% |
| Income taxes | 67/77 | €23,806 | €19,153 | -€4,653 | -19.5% |
| Profit (loss) for the period | 9904 | €63,363 | €47,179 | -€16,184 | -25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €63,363 | €47,179 | -€16,184 | -25.5% |
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 7 October 2026 via checked.be.