Rademakers: what changed
What changed
Rademakers
NACE 43.990, Other specialised construction activities
filed annual accounts (NBB)
Net result for the year
€153,561
2024 · €158,772-€5,211
Equity
€689,216
2024 · €529,655+€159,561
Cash
€794,398
2024 · €424,601+€369,797
Balance sheet total
€1.2m
2024 · €840,030+€380,439
Largest movements
Assets
- Cash +€369,797
up €369,797 (+87.1%), from €424,601 to €794,398
mainly Trade debts (+€194,098) and Net result for the year (+€153,561)
- Receivables within one year +€21,630
up €21,630 (+12.6%), from €171,877 to €193,507
of which Trade receivables: +€44,913
- Tangible fixed assets -€16,987
down €16,987 (-9.3%), from €181,824 to €164,837
of which Furniture and vehicles: -€12,830
Equity and liabilities
- Trade debts +€194,098
up €194,098 (+173%), from €111,908 to €306,005
- Reserves +€159,561
up €159,561 (+31.2%), from €511,055 to €670,616
of which Distributable reserves: +€159,561
- Debts after one year +€15,927
up €15,927 (+10.1%), from €158,049 to €173,976
Income statement
- Staff costs +€109,004
up €109,004 (+18.7%), from €583,333 to €692,336
- Gross operating margin +€103,542
up €103,542 (+12.3%), from €841,576 to €945,118
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€158,772
Gross operating margin
+€103,542
Staff costs
-€109,004
Depreciation
+€2,813
Other operating charges
-€529
Financial income
-€1,937
Financial charges
-€2,050
Taxes
+€1,954
Result 2025
€153,561
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€339,650
Investment
€0
Financing
+€30,147
Cash 2024
€424,601
From operations (derived)
+€339,650
Net result for the year
+€153,561
Depreciation
+€16,987
Receivables after one year
-€6,000
Receivables within one year
-€21,630
Trade debts
+€194,098
Tax, wage and social debts
+€8,633
Other debts
-€6,000
Financing
+€30,147
Debts after one year
+€15,927
Current portion of long-term debt
+€8,221
Contributions, distributions and other
+€6,000
Cash 2025
€794,398
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €840,030 | €1,220,469 | +€380,439 | +45.3% |
| Fixed assets | 21/28 | €183,551 | €166,564 | -€16,987 | -9.3% |
| Tangible fixed assets | 22/27 | €181,824 | €164,837 | -€16,987 | -9.3% |
| Land and buildings | 22 | €137,528 | €134,574 | -€2,954 | -2.1% |
| Plant, machinery and equipment | 23 | €3,802 | €2,598 | -€1,203 | -31.7% |
| Furniture and vehicles | 24 | €40,495 | €27,665 | -€12,830 | -31.7% |
| Financial fixed assets | 28 | €1,727 | €1,727 | = | 0.0% |
| Current assets | 29/58 | €656,478 | €1,053,905 | +€397,427 | +60.5% |
| Amounts receivable after more than one year | 29 | €60,000 | €66,000 | +€6,000 | +10.0% |
| Other amounts receivable | 291 | €60,000 | €66,000 | +€6,000 | +10.0% |
| Amounts receivable within one year | 40/41 | €171,877 | €193,507 | +€21,630 | +12.6% |
| Trade receivables | 40 | €146,281 | €191,194 | +€44,913 | +30.7% |
| Other amounts receivable | 41 | €25,596 | €2,313 | -€23,283 | -91.0% |
| Cash at bank and in hand | 54/58 | €424,601 | €794,398 | +€369,797 | +87.1% |
| Total equity and liabilities | 10/49 | €840,030 | €1,220,469 | +€380,439 | +45.3% |
| Equity | 10/15 | €529,655 | €689,216 | +€159,561 | +30.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €511,055 | €670,616 | +€159,561 | +31.2% |
| 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 | €509,195 | €668,756 | +€159,561 | +31.3% |
| Amounts payable | 17/49 | €310,375 | €531,253 | +€220,878 | +71.2% |
| Amounts payable after more than one year | 17 | €158,049 | €173,976 | +€15,927 | +10.1% |
| Financial debts | 170/4 | €158,049 | €173,976 | +€15,927 | +10.1% |
| Amounts payable within one year | 42/48 | €152,326 | €357,277 | +€204,951 | +135% |
| Current portion of amounts payable after more than one year | 42 | €22,080 | €30,300 | +€8,221 | +37.2% |
| Trade debts | 44 | €111,908 | €306,005 | +€194,098 | +173% |
| Suppliers | 440/4 | €111,908 | €306,005 | +€194,098 | +173% |
| Taxes, remuneration and social security | 45 | €11,666 | €20,299 | +€8,633 | +74.0% |
| Taxes | 450/3 | €11,666 | €20,299 | +€8,633 | +74.0% |
| Other amounts payable | 47/48 | €6,673 | €673 | -€6,000 | -89.9% |
| Remuneration, social security and pensions | 62 | €583,333 | €692,336 | +€109,004 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,800 | €16,987 | -€2,813 | -14.2% |
| Other operating charges | 640/8 | €4,309 | €4,838 | +€529 | +12.3% |
| Gross operating margin | 9900 | €841,576 | €945,118 | +€103,542 | +12.3% |
| Operating profit (loss) | 9901 | €234,134 | €230,956 | -€3,178 | -1.4% |
| Financial income | 75/76B | €2,767 | €830 | -€1,937 | -70.0% |
| Recurring financial income | 75 | €2,767 | €830 | -€1,937 | -70.0% |
| Financial charges | 65/66B | €5,955 | €8,005 | +€2,050 | +34.4% |
| Recurring financial charges | 65 | €5,324 | €7,555 | +€2,231 | +41.9% |
| Non-recurring financial charges | 66B | €631 | €450 | -€181 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €230,946 | €223,782 | -€7,165 | -3.1% |
| Income taxes | 67/77 | €72,175 | €70,221 | -€1,954 | -2.7% |
| Profit (loss) for the period | 9904 | €158,772 | €153,561 | -€5,211 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €158,772 | €153,561 | -€5,211 | -3.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.