RAEDAM: 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.
RAEDAM
Largest movements
- Cash +€77,157
up €77,157 (+1,016%), from €7,598 to €84,754
mainly Net result for the year (+€69,747) and Receivables within one year (+€7,271)
- Receivables within one year -€7,271
down €7,271 (-94.8%), from €7,668 to €397
- Reserves +€69,747
up €69,747 (+34.8%), from €200,230 to €269,978
of which Distributable reserves: +€69,747
- Financial income -€1.7m
no longer reported in 2025 (was €1.7m)
of which Financial income: -€1.7m
- Financial charges -€343,700
down €343,700 (-100.0%), from €343,730 to €30
of which Non-recurring financial charges: -€343,700
- Write-downs +€258,986
up €258,986 (+76.7%), from -€337,712 to -€78,726
- Gross operating margin +€30,449
up €30,449 (+81.3%), from -€37,476 to -€7,026
- Other operating charges -€7,371
down €7,371 (-79.3%), from €9,293 to €1,922
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 | €264,380 | €334,266 | +€69,886 | +26.4% |
| Current assets | 29/58 | €264,380 | €334,266 | +€69,886 | +26.4% |
| Amounts receivable after more than one year | 29 | €249,115 | €249,115 | = | 0.0% |
| Other amounts receivable | 291 | €249,115 | €249,115 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,668 | €397 | -€7,271 | -94.8% |
| Other amounts receivable | 41 | €7,668 | €397 | -€7,271 | -94.8% |
| Cash at bank and in hand | 54/58 | €7,598 | €84,754 | +€77,157 | +1,016% |
| Total equity and liabilities | 10/49 | €264,380 | €334,266 | +€69,886 | +26.4% |
| Equity | 10/15 | €262,230 | €331,978 | +€69,747 | +26.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €200,230 | €269,978 | +€69,747 | +34.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €194,030 | €263,778 | +€69,747 | +35.9% |
| Amounts payable | 17/49 | €2,150 | €2,289 | +€139 | +6.4% |
| Amounts payable within one year | 42/48 | €2,150 | €2,289 | +€139 | +6.4% |
| Trade debts | 44 | €2,150 | €2,289 | +€139 | +6.4% |
| Suppliers | 440/4 | €2,150 | €2,289 | +€139 | +6.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€337,712 | -€78,726 | +€258,986 | +76.7% |
| Other operating charges | 640/8 | €9,293 | €1,922 | -€7,371 | -79.3% |
| Gross operating margin | 9900 | -€37,476 | -€7,026 | +€30,449 | +81.3% |
| Operating profit (loss) | 9901 | €290,944 | €69,777 | -€221,166 | -76.0% |
| Financial income | 75/76B | €1,665,577 | - | -€1.7m | |
| Recurring financial income | 75 | €1,665,577 | - | -€1.7m | |
| Non-recurring financial income | 76B | €1,665,577 | - | -€1.7m | |
| Financial charges | 65/66B | €343,730 | €30 | -€343,700 | -100.0% |
| Recurring financial charges | 65 | €30 | €30 | +€0 | +1.0% |
| Non-recurring financial charges | 66B | €343,700 | - | -€343,700 | |
| Profit (loss) for the period before taxes | 9903 | €1,612,791 | €69,747 | -€1.5m | -95.7% |
| Profit (loss) for the period | 9904 | €1,612,791 | €69,747 | -€1.5m | -95.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,612,791 | €69,747 | -€1.5m | -95.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.