RAEK: 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.
RAEK
Largest movements
- Cash -€1,257
down €1,257 (-59.3%), from €2,119 to €862
mainly Tax, wage and social debts (-€11,510) and Investment in fixed assets (net) (-€6,681)
- Tangible fixed assets +€1,161
up €1,161 (+5.9%), from €19,830 to €20,991
of which Other tangible fixed assets: +€8,145
- Deferred charges and accrued income +€1,102
up €1,102 (+46.0%), from €2,395 to €3,497
- Receivables within one year +€876
up €876 (+12.0%), from €7,279 to €8,155
- Intangible fixed assets -€560
down €560 (-21.5%), from €2,605 to €2,045
- Tax, wage and social debts -€11,510
down €11,510 (-82.9%), from €13,890 to €2,380
of which Remuneration and social security: -€13,030
- Profit (loss) carried forward +€9,604
up €9,604 (+60.6%), from -€15,849 to -€6,245
- Other debts +€4,086
up €4,086 (+13.4%), from €30,557 to €34,643
- Trade debts -€859
down €859 (-27.4%), from €3,131 to €2,272
- Gross operating margin +€25,910
up €25,910, from -€8,051 to €17,859
- Depreciation +€4,720
up €4,720 (+347%), from €1,360 to €6,080
- Taxes +€546
up €546 (+1,805%), from €30 to €576
- Other operating charges +€324
up €324 (+30.3%), from €1,069 to €1,393
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 | €34,229 | €35,550 | +€1,321 | +3.9% |
| Fixed assets | 21/28 | €22,435 | €23,036 | +€601 | +2.7% |
| Intangible fixed assets | 21 | €2,605 | €2,045 | -€560 | -21.5% |
| Tangible fixed assets | 22/27 | €19,830 | €20,991 | +€1,161 | +5.9% |
| Plant, machinery and equipment | 23 | €6,963 | - | -€6,963 | |
| Furniture and vehicles | 24 | €12,867 | €12,846 | -€21 | -0.2% |
| Other tangible fixed assets | 26 | - | €8,145 | +€8,145 | |
| Current assets | 29/58 | €11,793 | €12,514 | +€721 | +6.1% |
| Amounts receivable within one year | 40/41 | €7,279 | €8,155 | +€876 | +12.0% |
| Trade receivables | 40 | €7,279 | €8,155 | +€876 | +12.0% |
| Cash at bank and in hand | 54/58 | €2,119 | €862 | -€1,257 | -59.3% |
| Deferred charges and accrued income | 490/1 | €2,395 | €3,497 | +€1,102 | +46.0% |
| Total equity and liabilities | 10/49 | €34,229 | €35,550 | +€1,321 | +3.9% |
| Equity | 10/15 | -€13,349 | -€3,745 | +€9,604 | +71.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,849 | -€6,245 | +€9,604 | +60.6% |
| Amounts payable | 17/49 | €47,578 | €39,295 | -€8,283 | -17.4% |
| Amounts payable within one year | 42/48 | €47,578 | €39,295 | -€8,283 | -17.4% |
| Trade debts | 44 | €3,131 | €2,272 | -€859 | -27.4% |
| Suppliers | 440/4 | €3,131 | €2,272 | -€859 | -27.4% |
| Taxes, remuneration and social security | 45 | €13,890 | €2,380 | -€11,510 | -82.9% |
| Taxes | 450/3 | €859 | €2,380 | +€1,521 | +177% |
| Remuneration and social security | 454/9 | €13,030 | - | -€13,030 | |
| Other amounts payable | 47/48 | €30,557 | €34,643 | +€4,086 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,360 | €6,080 | +€4,720 | +347% |
| Other operating charges | 640/8 | €1,069 | €1,393 | +€324 | +30.3% |
| Gross operating margin | 9900 | -€8,051 | €17,859 | +€25,910 | |
| Operating profit (loss) | 9901 | -€10,479 | €10,386 | +€20,865 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +9,900% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +9,900% |
| Financial charges | 65/66B | €189 | €207 | +€18 | +9.4% |
| Recurring financial charges | 65 | €189 | €207 | +€18 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | -€10,668 | €10,180 | +€20,848 | |
| Income taxes | 67/77 | €30 | €576 | +€546 | +1,805% |
| Profit (loss) for the period | 9904 | -€10,699 | €9,604 | +€20,303 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,699 | €9,604 | +€20,303 |
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 24 October 2026 via checked.be.