RAEDT: what changed
RAEDT
Largest movements
- Current investments +€80,000
new in 2025: €80,000
- Tangible fixed assets -€65,150
down €65,150 (-9.0%), from €723,708 to €658,558
of which Land and buildings: -€48,408
- Cash -€22,395
down €22,395 (-12.7%), from €176,749 to €154,355
mainly Current investments (-€80,000) and Debts after one year (-€71,038)
- Receivables within one year -€18,820
down €18,820 (-29.4%), from €63,942 to €45,123
of which Trade receivables: -€10,977
- Debts after one year -€71,038
down €71,038 (-15.2%), from €466,810 to €395,772
- Tax, wage and social debts +€26,848
new in 2025: €26,848
- Reserves +€20,230
up €20,230 (+5.2%), from €389,272 to €409,501
of which Distributable reserves: +€20,230
- Trade debts -€14,769
down €14,769 (-50.3%), from €29,345 to €14,575
- Other debts +€14,675
up €14,675 (+42.5%), from €34,515 to €49,190
- Gross operating margin +€91,849
up €91,849 (+84.2%), from €109,141 to €200,990
- Taxes +€35,232
up €35,232 (+2,920%), from €1,207 to €36,438
- Staff costs -€7,581
down €7,581 (-36.1%), from €21,001 to €13,421
- Financial charges -€2,961
down €2,961 (-16.2%), from €18,324 to €15,363
- Financial income +€2,089
up €2,089 (+48.3%), from €4,326 to €6,416
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €988,384 | €965,649 | -€22,735 | -2.3% |
| Fixed assets | 21/28 | €723,708 | €658,558 | -€65,150 | -9.0% |
| Tangible fixed assets | 22/27 | €723,708 | €658,558 | -€65,150 | -9.0% |
| Land and buildings | 22 | €683,620 | €635,212 | -€48,408 | -7.1% |
| Plant, machinery and equipment | 23 | €2,302 | €823 | -€1,478 | -64.2% |
| Furniture and vehicles | 24 | €37,786 | €22,523 | -€15,263 | -40.4% |
| Current assets | 29/58 | €264,676 | €307,091 | +€42,415 | +16.0% |
| Stocks and contracts in progress | 3 | €23,984 | €25,364 | +€1,380 | +5.8% |
| Stocks | 30/36 | €23,984 | €25,364 | +€1,380 | +5.8% |
| Amounts receivable within one year | 40/41 | €63,942 | €45,123 | -€18,820 | -29.4% |
| Trade receivables | 40 | €46,374 | €35,397 | -€10,977 | -23.7% |
| Other amounts receivable | 41 | €17,569 | €9,726 | -€7,842 | -44.6% |
| Current investments | 50/53 | - | €80,000 | +€80,000 | |
| Cash at bank and in hand | 54/58 | €176,749 | €154,355 | -€22,395 | -12.7% |
| Deferred charges and accrued income | 490/1 | - | €2,249 | +€2,249 | |
| Total equity and liabilities | 10/49 | €988,384 | €965,649 | -€22,735 | -2.3% |
| Equity | 10/15 | €395,921 | €416,151 | +€20,230 | +5.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €389,272 | €409,501 | +€20,230 | +5.2% |
| 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 | €387,412 | €407,641 | +€20,230 | +5.2% |
| Profit (loss) carried forward | 14 | €450 | €450 | = | 0.0% |
| Amounts payable | 17/49 | €592,463 | €549,499 | -€42,964 | -7.3% |
| Amounts payable after more than one year | 17 | €466,810 | €395,772 | -€71,038 | -15.2% |
| Financial debts | 170/4 | €466,810 | €395,772 | -€71,038 | -15.2% |
| Amounts payable within one year | 42/48 | €125,653 | €153,727 | +€28,073 | +22.3% |
| Current portion of amounts payable after more than one year | 42 | €61,794 | €63,113 | +€1,319 | +2.1% |
| Trade debts | 44 | €29,345 | €14,575 | -€14,769 | -50.3% |
| Suppliers | 440/4 | €29,345 | €14,575 | -€14,769 | -50.3% |
| Taxes, remuneration and social security | 45 | - | €26,848 | +€26,848 | |
| Taxes | 450/3 | - | €26,848 | +€26,848 | |
| Other amounts payable | 47/48 | €34,515 | €49,190 | +€14,675 | +42.5% |
| Remuneration, social security and pensions | 62 | €21,001 | €13,421 | -€7,581 | -36.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,934 | €65,150 | -€785 | -1.2% |
| Other operating charges | 640/8 | €6,551 | €7,614 | +€1,063 | +16.2% |
| Gross operating margin | 9900 | €109,141 | €200,990 | +€91,849 | +84.2% |
| Operating profit (loss) | 9901 | €15,654 | €114,806 | +€99,152 | +633% |
| Financial income | 75/76B | €4,326 | €6,416 | +€2,089 | +48.3% |
| Recurring financial income | 75 | €4,326 | €6,416 | +€2,089 | +48.3% |
| Financial charges | 65/66B | €18,324 | €15,363 | -€2,961 | -16.2% |
| Recurring financial charges | 65 | €18,324 | €15,363 | -€2,961 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €1,656 | €105,859 | +€104,202 | +6,292% |
| Income taxes | 67/77 | €1,207 | €36,438 | +€35,232 | +2,920% |
| Profit (loss) for the period | 9904 | €450 | €69,420 | +€68,971 | +15,344% |
| Profit (loss) for the period to be appropriated | 9905 | €450 | €69,420 | +€68,971 | +15,344% |
Next steps
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 4 November 2026 via checked.be.