RADJA: 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.
RADJA
Largest movements
- Tangible fixed assets -€20,246
down €20,246 (-7.8%), from €258,630 to €238,384
of which Land and buildings: -€15,078
- Cash -€12,572
down €12,572 (-5.8%), from €218,468 to €205,896
mainly Other debts (-€52,777) and Investment in fixed assets (net) (-€4,442)
- Other debts -€52,777
down €52,777 (-11.7%), from €450,097 to €397,320
- Reserves +€18,542
up €18,542 (+9.4%), from €196,482 to €215,024
of which Distributable reserves: +€18,542
- Gross operating margin +€5,671
up €5,671 (+13.3%), from €42,655 to €48,326
- Depreciation -€2,157
down €2,157 (-8.0%), from €26,846 to €24,688
- Other operating charges -€984
down €984 (-14.2%), from €6,929 to €5,944
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 | €666,173 | €633,355 | -€32,818 | -4.9% |
| Fixed assets | 21/28 | €258,630 | €238,384 | -€20,246 | -7.8% |
| Tangible fixed assets | 22/27 | €258,630 | €238,384 | -€20,246 | -7.8% |
| Land and buildings | 22 | €201,942 | €186,865 | -€15,078 | -7.5% |
| Plant, machinery and equipment | 23 | €56,687 | €51,519 | -€5,168 | -9.1% |
| Current assets | 29/58 | €407,543 | €394,971 | -€12,572 | -3.1% |
| Current investments | 50/53 | €189,075 | €189,075 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €218,468 | €205,896 | -€12,572 | -5.8% |
| Total equity and liabilities | 10/49 | €666,173 | €633,355 | -€32,818 | -4.9% |
| Equity | 10/15 | €215,082 | €233,624 | +€18,542 | +8.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €196,482 | €215,024 | +€18,542 | +9.4% |
| Non-distributable reserves | 130/1 | €189,075 | €189,075 | = | 0.0% |
| Own shares acquired | 1312 | €189,075 | €189,075 | = | 0.0% |
| Distributable reserves | 133 | €7,407 | €25,949 | +€18,542 | +250% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €451,091 | €399,730 | -€51,360 | -11.4% |
| Amounts payable after more than one year | 17 | €868 | €868 | = | 0.0% |
| Other amounts payable | 178/9 | €868 | €868 | = | 0.0% |
| Amounts payable within one year | 42/48 | €450,097 | €398,863 | -€51,234 | -11.4% |
| Trade debts | 44 | €0 | €1,543 | +€1,543 | |
| Suppliers | 440/4 | €0 | €1,543 | +€1,543 | |
| Other amounts payable | 47/48 | €450,097 | €397,320 | -€52,777 | -11.7% |
| Accrued charges and deferred income | 492/3 | €126 | €0 | -€126 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,846 | €24,688 | -€2,157 | -8.0% |
| Other operating charges | 640/8 | €6,929 | €5,944 | -€984 | -14.2% |
| Gross operating margin | 9900 | €42,655 | €48,326 | +€5,671 | +13.3% |
| Operating profit (loss) | 9901 | €8,881 | €17,693 | +€8,813 | +99.2% |
| Financial income | 75/76B | €1,540 | €1,303 | -€237 | -15.4% |
| Recurring financial income | 75 | €1,540 | €1,303 | -€237 | -15.4% |
| Financial charges | 65/66B | €44 | €63 | +€20 | +44.8% |
| Recurring financial charges | 65 | €44 | €63 | +€20 | +44.8% |
| Profit (loss) for the period before taxes | 9903 | €10,377 | €18,933 | +€8,556 | +82.4% |
| Income taxes | 67/77 | €462 | €391 | -€71 | -15.4% |
| Profit (loss) for the period | 9904 | €9,915 | €18,542 | +€8,627 | +87.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,915 | €18,542 | +€8,627 | +87.0% |
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 15 October 2026 via checked.be.