RAD Equestrian: 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.
RAD Equestrian
Largest movements
- Cash +€128,182
up €128,182 (+130.8%), from €97,969 to €226,151
mainly Net result for the year (+€215,781) and Depreciation (+€11,600)
- Receivables within one year +€82,312
up €82,312 (+36.9%), from €223,029 to €305,341
of which Trade receivables: +€158,445
- Tangible fixed assets -€11,600
down €11,600 (-27.1%), from €42,745 to €31,145
- Profit (loss) carried forward +€215,781
up €215,781 (+35.0%), from -€616,654 to -€400,872
- Trade debts -€16,887
down €16,887 (-61.4%), from €27,497 to €10,610
- Gross operating margin +€298,077
up €298,077, from -€70,564 to €227,512
- Other operating charges -€4,394
no longer reported in 2025 (was €4,394)
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 | €363,744 | €562,637 | +€198,894 | +54.7% |
| Fixed assets | 21/28 | €42,745 | €31,145 | -€11,600 | -27.1% |
| Tangible fixed assets | 22/27 | €42,745 | €31,145 | -€11,600 | -27.1% |
| Leasing and similar rights | 25 | €42,745 | €31,145 | -€11,600 | -27.1% |
| Current assets | 29/58 | €320,999 | €531,492 | +€210,494 | +65.6% |
| Amounts receivable within one year | 40/41 | €223,029 | €305,341 | +€82,312 | +36.9% |
| Trade receivables | 40 | €126,670 | €285,115 | +€158,445 | +125.1% |
| Other amounts receivable | 41 | €96,359 | €20,226 | -€76,133 | -79.0% |
| Cash at bank and in hand | 54/58 | €97,969 | €226,151 | +€128,182 | +130.8% |
| Total equity and liabilities | 10/49 | €363,744 | €562,637 | +€198,894 | +54.7% |
| Equity | 10/15 | -€613,654 | -€397,872 | +€215,781 | +35.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€616,654 | -€400,872 | +€215,781 | +35.0% |
| Amounts payable | 17/49 | €977,397 | €960,510 | -€16,887 | -1.7% |
| Amounts payable after more than one year | 17 | €949,900 | €949,900 | = | 0.0% |
| Other amounts payable | 178/9 | €949,900 | €949,900 | = | 0.0% |
| Amounts payable within one year | 42/48 | €27,497 | €10,610 | -€16,887 | -61.4% |
| Trade debts | 44 | €27,497 | €10,610 | -€16,887 | -61.4% |
| Suppliers | 440/4 | €27,497 | €10,610 | -€16,887 | -61.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,600 | €11,600 | = | 0.0% |
| Other operating charges | 640/8 | €4,394 | - | -€4,394 | |
| Gross operating margin | 9900 | -€70,564 | €227,512 | +€298,077 | |
| Operating profit (loss) | 9901 | -€86,559 | €215,912 | +€302,471 | |
| Financial charges | 65/66B | €175 | €131 | -€44 | -25.0% |
| Recurring financial charges | 65 | €175 | €131 | -€44 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | -€86,734 | €215,781 | +€302,515 | |
| Profit (loss) for the period | 9904 | -€86,734 | €215,781 | +€302,515 | |
| Profit (loss) for the period to be appropriated | 9905 | -€86,734 | €215,781 | +€302,515 |
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 12 October 2026 via checked.be.