RAEMCO: 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.
RAEMCO
Largest movements
- Receivables within one year -€163,277
down €163,277 (-43.7%), from €373,271 to €209,993
of which Other amounts receivable: -€108,361
- Tangible fixed assets +€133,826
up €133,826 (+7.0%), from €1.9m to €2.1m
of which Land and buildings: +€145,573
- Cash -€81,463
down €81,463 (-10.9%), from €745,219 to €663,755
mainly Trade debts (-€338,234) and Investment in fixed assets (net) (-€239,363)
- Trade debts -€338,234
down €338,234 (-76.1%), from €444,481 to €106,247
- Reserves +€269,568
up €269,568 (+30.2%), from €892,392 to €1.2m
- Debts after one year -€101,760
down €101,760 (-5.7%), from €1.8m to €1.7m
- Tax, wage and social debts +€57,015
up €57,015 (+176%), from €32,441 to €89,456
of which Taxes: +€50,084
- Gross operating margin +€332,381
up €332,381 (+96.4%), from €344,887 to €677,268
- Other operating charges +€64,389
up €64,389 (+92.6%), from €69,518 to €133,907
- Taxes +€59,871
up €59,871 (+110%), from €54,653 to €114,524
- Depreciation +€46,271
up €46,271 (+78.1%), from €59,266 to €105,537
- Financial charges +€34,618
up €34,618 (+147%), from €23,553 to €58,171
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 | €3,280,184 | €3,170,161 | -€110,024 | -3.4% |
| Fixed assets | 21/28 | €2,150,035 | €2,283,861 | +€133,826 | +6.2% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,923,222 | €2,057,048 | +€133,826 | +7.0% |
| Land and buildings | 22 | €1,901,344 | €2,046,917 | +€145,573 | +7.7% |
| Plant, machinery and equipment | 23 | €4,464 | €2,867 | -€1,597 | -35.8% |
| Furniture and vehicles | 24 | €17,414 | €7,264 | -€10,151 | -58.3% |
| Financial fixed assets | 28 | €226,812 | €226,812 | = | 0.0% |
| Current assets | 29/58 | €1,130,149 | €886,300 | -€243,849 | -21.6% |
| Amounts receivable within one year | 40/41 | €373,271 | €209,993 | -€163,277 | -43.7% |
| Trade receivables | 40 | €189,402 | €134,486 | -€54,916 | -29.0% |
| Other amounts receivable | 41 | €183,869 | €75,508 | -€108,361 | -58.9% |
| Cash at bank and in hand | 54/58 | €745,219 | €663,755 | -€81,463 | -10.9% |
| Deferred charges and accrued income | 490/1 | €11,660 | €12,551 | +€892 | +7.6% |
| Total equity and liabilities | 10/49 | €3,280,184 | €3,170,161 | -€110,024 | -3.4% |
| Equity | 10/15 | €904,792 | €1,174,360 | +€269,568 | +29.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €892,392 | €1,161,960 | +€269,568 | +30.2% |
| Distributable reserves | 133 | €892,392 | €1,161,960 | +€269,568 | +30.2% |
| Amounts payable | 17/49 | €2,375,392 | €1,995,800 | -€379,591 | -16.0% |
| Amounts payable after more than one year | 17 | €1,776,490 | €1,674,730 | -€101,760 | -5.7% |
| Financial debts | 170/4 | €1,776,490 | €1,674,730 | -€101,760 | -5.7% |
| Amounts payable within one year | 42/48 | €598,901 | €321,020 | -€277,882 | -46.4% |
| Current portion of amounts payable after more than one year | 42 | €121,980 | €125,317 | +€3,337 | +2.7% |
| Trade debts | 44 | €444,481 | €106,247 | -€338,234 | -76.1% |
| Suppliers | 440/4 | €444,481 | €106,247 | -€338,234 | -76.1% |
| Taxes, remuneration and social security | 45 | €32,441 | €89,456 | +€57,015 | +176% |
| Taxes | 450/3 | €30,762 | €80,846 | +€50,084 | +163% |
| Remuneration and social security | 454/9 | €1,679 | €8,610 | +€6,931 | +413% |
| Accrued charges and deferred income | 492/3 | - | €51 | +€51 | |
| Non-recurring operating income | 76A | - | €15,364 | +€15,364 | |
| Remuneration, social security and pensions | 62 | €38 | €736 | +€698 | +1,838% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,266 | €105,537 | +€46,271 | +78.1% |
| Other operating charges | 640/8 | €69,518 | €133,907 | +€64,389 | +92.6% |
| Non-recurring operating charges | 66A | €28,790 | €0 | -€28,790 | -100% |
| Gross operating margin | 9900 | €344,887 | €677,268 | +€332,381 | +96.4% |
| Operating profit (loss) | 9901 | €187,275 | €437,088 | +€249,813 | +133% |
| Financial income | 75/76B | €6,323 | €5,175 | -€1,148 | -18.2% |
| Recurring financial income | 75 | €6,323 | €5,175 | -€1,148 | -18.2% |
| Financial charges | 65/66B | €23,553 | €58,171 | +€34,618 | +147% |
| Recurring financial charges | 65 | €23,553 | €58,171 | +€34,618 | +147% |
| Profit (loss) for the period before taxes | 9903 | €170,045 | €384,091 | +€214,046 | +126% |
| Income taxes | 67/77 | €54,653 | €114,524 | +€59,871 | +110% |
| Profit (loss) for the period | 9904 | €115,392 | €269,568 | +€154,175 | +134% |
| Profit (loss) for the period to be appropriated | 9905 | €115,392 | €269,568 | +€154,175 | +134% |
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 14 October 2026 via checked.be.