RADERMECKER: 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.
RADERMECKER
Largest movements
- Tangible fixed assets -€51,797
down €51,797 (-8.2%), from €632,356 to €580,559
of which Other tangible fixed assets: -€26,130
- Cash +€37,343
up €37,343 (+493%), from €7,574 to €44,917
mainly Debts after one year (+€108,850) and Depreciation (+€68,244)
- Intangible fixed assets +€21,046
up €21,046 (+30.8%), from €68,394 to €89,440
- Short-term financial debts -€125,000
down €125,000 (-100%), from €125,000 to €0
- Debts after one year +€108,850
up €108,850 (+22.6%), from €481,794 to €590,644
of which Other amounts payable: +€175,000
- Contributions +€62,000
up €62,000 (+30.2%), from €205,000 to €267,000
- Trade debts -€58,255
down €58,255 (-43.3%), from €134,579 to €76,324
- Profit (loss) carried forward +€42,611
up €42,611 (+46.0%), from €92,534 to €135,144
- Gross operating margin +€25,713
up €25,713 (+5.1%), from €501,533 to €527,246
- Staff costs -€15,803
down €15,803 (-3.5%), from €447,048 to €431,245
- Depreciation +€6,986
up €6,986 (+11.4%), from €61,258 to €68,244
- Financial income +€6,163
up €6,163 (+12.7%), from €48,707 to €54,870
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 | €1,269,452 | €1,270,177 | +€725 | +0.1% |
| Fixed assets | 21/28 | €712,750 | €681,999 | -€30,751 | -4.3% |
| Intangible fixed assets | 21 | €68,394 | €89,440 | +€21,046 | +30.8% |
| Tangible fixed assets | 22/27 | €632,356 | €580,559 | -€51,797 | -8.2% |
| Plant, machinery and equipment | 23 | €243,792 | €218,427 | -€25,365 | -10.4% |
| Furniture and vehicles | 24 | €595 | €292 | -€303 | -50.9% |
| Other tangible fixed assets | 26 | €387,969 | €361,840 | -€26,130 | -6.7% |
| Financial fixed assets | 28 | €12,000 | €12,000 | = | 0.0% |
| Current assets | 29/58 | €556,702 | €588,179 | +€31,476 | +5.7% |
| Stocks and contracts in progress | 3 | €462,112 | €456,393 | -€5,719 | -1.2% |
| Stocks | 30/36 | €462,112 | €456,393 | -€5,719 | -1.2% |
| Amounts receivable within one year | 40/41 | €75,046 | €85,434 | +€10,388 | +13.8% |
| Trade receivables | 40 | €66,985 | €84,406 | +€17,421 | +26.0% |
| Other amounts receivable | 41 | €8,061 | €1,028 | -€7,033 | -87.2% |
| Cash at bank and in hand | 54/58 | €7,574 | €44,917 | +€37,343 | +493% |
| Deferred charges and accrued income | 490/1 | €11,970 | €1,434 | -€10,536 | -88.0% |
| Total equity and liabilities | 10/49 | €1,269,452 | €1,270,177 | +€725 | +0.1% |
| Equity | 10/15 | €299,534 | €402,144 | +€102,611 | +34.3% |
| Contributions | 10/11 | €205,000 | €267,000 | +€62,000 | +30.2% |
| Reserves | 13 | €2,000 | €0 | -€2,000 | -100% |
| Non-distributable reserves | 130/1 | €2,000 | €0 | -€2,000 | -100% |
| Reserves not available under the articles | 1311 | €2,000 | €0 | -€2,000 | -100% |
| Profit (loss) carried forward | 14 | €92,534 | €135,144 | +€42,611 | +46.0% |
| Amounts payable | 17/49 | €969,919 | €868,033 | -€101,886 | -10.5% |
| Amounts payable after more than one year | 17 | €481,794 | €590,644 | +€108,850 | +22.6% |
| Financial debts | 170/4 | €481,794 | €415,644 | -€66,150 | -13.7% |
| Other amounts payable | 178/9 | - | €175,000 | +€175,000 | |
| Amounts payable within one year | 42/48 | €488,125 | €277,389 | -€210,736 | -43.2% |
| Current portion of amounts payable after more than one year | 42 | €170,498 | €150,621 | -€19,877 | -11.7% |
| Financial debts | 43 | €125,000 | €0 | -€125,000 | -100% |
| Credit institutions | 430/8 | €125,000 | €0 | -€125,000 | -100% |
| Trade debts | 44 | €134,579 | €76,324 | -€58,255 | -43.3% |
| Suppliers | 440/4 | €134,579 | €76,324 | -€58,255 | -43.3% |
| Taxes, remuneration and social security | 45 | €55,424 | €50,443 | -€4,981 | -9.0% |
| Taxes | 450/3 | €7,092 | €7,417 | +€325 | +4.6% |
| Remuneration and social security | 454/9 | €48,333 | €43,026 | -€5,306 | -11.0% |
| Other amounts payable | 47/48 | €2,623 | €0 | -€2,623 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €447,048 | €431,245 | -€15,803 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,258 | €68,244 | +€6,986 | +11.4% |
| Other operating charges | 640/8 | €6,884 | €3,559 | -€3,325 | -48.3% |
| Gross operating margin | 9900 | €501,533 | €527,246 | +€25,713 | +5.1% |
| Operating profit (loss) | 9901 | -€13,657 | €24,198 | +€37,855 | |
| Financial income | 75/76B | €48,707 | €54,870 | +€6,163 | +12.7% |
| Recurring financial income | 75 | €48,707 | €54,870 | +€6,163 | +12.7% |
| Financial charges | 65/66B | €33,963 | €36,457 | +€2,494 | +7.3% |
| Recurring financial charges | 65 | €33,963 | €36,457 | +€2,494 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €1,087 | €42,611 | +€41,523 | +3,818% |
| Income taxes | 67/77 | €222 | €0 | -€222 | -100% |
| Profit (loss) for the period | 9904 | €865 | €42,611 | +€41,745 | +4,823% |
| Profit (loss) for the period to be appropriated | 9905 | €865 | €42,611 | +€41,745 | +4,823% |
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 18 October 2026 via checked.be.