RADELET EMMANUEL: 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.
RADELET EMMANUEL
Largest movements
- Tangible fixed assets -€16,916
down €16,916 (-7.2%), from €235,313 to €218,397
of which Land and buildings: -€14,427
- Cash +€8,847
up €8,847 (+129%), from €6,848 to €15,696
mainly Net result for the year (+€38,680) and Depreciation (+€29,103)
- Advances received -€26,619
no longer reported in 2025 (was €26,619)
- Debts after one year -€18,784
down €18,784 (-16.8%), from €111,577 to €92,792
- Reserves +€18,600
up €18,600 (+17.7%), from €105,260 to €123,860
of which Distributable reserves: +€18,600
- Trade debts +€7,046
up €7,046 (+44.9%), from €15,710 to €22,756
- Other debts +€6,851
up €6,851 (+54.4%), from €12,600 to €19,451
- Gross operating margin +€25,000
up €25,000 (+34.7%), from €72,123 to €97,123
- Taxes +€5,458
up €5,458 (+50.0%), from €10,911 to €16,369
- Depreciation +€4,063
up €4,063 (+16.2%), from €25,040 to €29,103
- Financial charges +€2,846
up €2,846 (+79.6%), from €3,577 to €6,423
of which Non-recurring financial charges: +€3,112
- Staff costs -€2,528
down €2,528 (-90.8%), from €2,784 to €256
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 | €342,591 | €331,077 | -€11,513 | -3.4% |
| Fixed assets | 21/28 | €238,788 | €218,760 | -€20,028 | -8.4% |
| Tangible fixed assets | 22/27 | €235,313 | €218,397 | -€16,916 | -7.2% |
| Land and buildings | 22 | €204,996 | €190,569 | -€14,427 | -7.0% |
| Plant, machinery and equipment | 23 | €19,875 | €16,956 | -€2,918 | -14.7% |
| Furniture and vehicles | 24 | €10,442 | €10,872 | +€430 | +4.1% |
| Financial fixed assets | 28 | €3,475 | €363 | -€3,112 | -89.6% |
| Current assets | 29/58 | €103,803 | €112,318 | +€8,515 | +8.2% |
| Stocks and contracts in progress | 3 | €57,200 | €59,480 | +€2,280 | +4.0% |
| Stocks | 30/36 | €57,200 | €59,480 | +€2,280 | +4.0% |
| Amounts receivable within one year | 40/41 | €32,811 | €30,211 | -€2,601 | -7.9% |
| Trade receivables | 40 | €16,386 | €26,541 | +€10,155 | +62.0% |
| Other amounts receivable | 41 | €16,425 | €3,670 | -€12,756 | -77.7% |
| Cash at bank and in hand | 54/58 | €6,848 | €15,696 | +€8,847 | +129% |
| Deferred charges and accrued income | 490/1 | €6,943 | €6,931 | -€12 | -0.2% |
| Total equity and liabilities | 10/49 | €342,591 | €331,077 | -€11,513 | -3.4% |
| Equity | 10/15 | €137,733 | €156,413 | +€18,680 | +13.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €105,260 | €123,860 | +€18,600 | +17.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €103,400 | €122,000 | +€18,600 | +18.0% |
| Profit (loss) carried forward | 14 | €26,273 | €26,353 | +€80 | +0.3% |
| Amounts payable | 17/49 | €204,858 | €174,665 | -€30,193 | -14.7% |
| Amounts payable after more than one year | 17 | €111,577 | €92,792 | -€18,784 | -16.8% |
| Financial debts | 170/4 | €111,577 | €92,792 | -€18,784 | -16.8% |
| Amounts payable within one year | 42/48 | €93,281 | €81,872 | -€11,409 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €19,002 | €18,784 | -€217 | -1.1% |
| Trade debts | 44 | €15,710 | €22,756 | +€7,046 | +44.9% |
| Suppliers | 440/4 | €15,710 | €22,756 | +€7,046 | +44.9% |
| Advances received on contracts in progress | 46 | €26,619 | - | -€26,619 | |
| Taxes, remuneration and social security | 45 | €19,350 | €20,881 | +€1,531 | +7.9% |
| Taxes | 450/3 | €16,584 | €18,747 | +€2,164 | +13.0% |
| Remuneration and social security | 454/9 | €2,766 | €2,134 | -€633 | -22.9% |
| Other amounts payable | 47/48 | €12,600 | €19,451 | +€6,851 | +54.4% |
| Remuneration, social security and pensions | 62 | €2,784 | €256 | -€2,528 | -90.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,040 | €29,103 | +€4,063 | +16.2% |
| Other operating charges | 640/8 | €7,210 | €6,921 | -€289 | -4.0% |
| Gross operating margin | 9900 | €72,123 | €97,123 | +€25,000 | +34.7% |
| Operating profit (loss) | 9901 | €37,089 | €60,842 | +€23,753 | +64.0% |
| Financial income | 75/76B | €1,130 | €630 | -€501 | -44.3% |
| Recurring financial income | 75 | €721 | €630 | -€92 | -12.7% |
| Non-recurring financial income | 76B | €409 | - | -€409 | |
| Financial charges | 65/66B | €3,577 | €6,423 | +€2,846 | +79.6% |
| Recurring financial charges | 65 | €3,577 | €3,311 | -€266 | -7.4% |
| Non-recurring financial charges | 66B | - | €3,112 | +€3,112 | |
| Profit (loss) for the period before taxes | 9903 | €34,642 | €55,049 | +€20,406 | +58.9% |
| Income taxes | 67/77 | €10,911 | €16,369 | +€5,458 | +50.0% |
| Profit (loss) for the period | 9904 | €23,732 | €38,680 | +€14,948 | +63.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,732 | €38,680 | +€14,948 | +63.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.