RAEMDONCK: 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.
RAEMDONCK
Largest movements
- Cash +€242,620
up €242,620 (+792%), from €30,651 to €273,271
mainly Net result for the year (+€171,715) and Investment in fixed assets (net) (+€85,971)
- Tangible fixed assets -€151,068
down €151,068 (-7.4%), from €2.0m to €1.9m
of which Land and buildings: -€145,603
- Reserves +€171,393
up €171,393 (+199%), from €86,054 to €257,447
of which Distributable reserves: +€175,000
- Debts after one year -€101,046
down €101,046 (-45.1%), from €223,880 to €122,834
- Other debts +€44,335
up €44,335 (+6.1%), from €721,449 to €765,784
- Gross operating margin +€177,008
up €177,008 (+260%), from €67,957 to €244,965
- Taxes +€28,667
new in 2025: €28,667
- Financial income +€22,685
up €22,685 (+92.4%), from €24,537 to €47,222
- Depreciation -€4,317
down €4,317 (-6.2%), from €69,414 to €65,097
- Financial charges -€3,726
down €3,726 (-22.7%), from €16,400 to €12,675
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 | €2,779,015 | €2,885,843 | +€106,829 | +3.8% |
| Fixed assets | 21/28 | €2,041,711 | €1,890,643 | -€151,068 | -7.4% |
| Tangible fixed assets | 22/27 | €2,037,976 | €1,886,908 | -€151,068 | -7.4% |
| Land and buildings | 22 | €1,996,296 | €1,850,693 | -€145,603 | -7.3% |
| Plant, machinery and equipment | 23 | €41,680 | €36,216 | -€5,464 | -13.1% |
| Financial fixed assets | 28 | €3,735 | €3,735 | = | 0.0% |
| Current assets | 29/58 | €737,303 | €995,200 | +€257,897 | +35.0% |
| Amounts receivable within one year | 40/41 | €5,519 | €0 | -€5,519 | -100% |
| Other amounts receivable | 41 | €5,519 | €0 | -€5,519 | -100% |
| Current investments | 50/53 | €693,232 | €716,060 | +€22,828 | +3.3% |
| Cash at bank and in hand | 54/58 | €30,651 | €273,271 | +€242,620 | +792% |
| Deferred charges and accrued income | 490/1 | €7,901 | €5,869 | -€2,032 | -25.7% |
| Total equity and liabilities | 10/49 | €2,779,015 | €2,885,843 | +€106,829 | +3.8% |
| Equity | 10/15 | €1,660,398 | €1,832,114 | +€171,715 | +10.3% |
| Contributions | 10/11 | €1,639,200 | €1,639,200 | = | 0.0% |
| Reserves | 13 | €86,054 | €257,447 | +€171,393 | +199% |
| Tax-exempt reserves | 132 | €80,454 | €76,847 | -€3,607 | -4.5% |
| Distributable reserves | 133 | €5,600 | €180,600 | +€175,000 | +3,125% |
| Profit (loss) carried forward | 14 | -€64,856 | -€64,534 | +€322 | +0.5% |
| Provisions and deferred taxes | 16 | €39,080 | €37,303 | -€1,776 | -4.5% |
| Deferred taxes | 168 | €39,080 | €37,303 | -€1,776 | -4.5% |
| Amounts payable | 17/49 | €1,079,537 | €1,016,426 | -€63,110 | -5.8% |
| Amounts payable after more than one year | 17 | €223,880 | €122,834 | -€101,046 | -45.1% |
| Financial debts | 170/4 | €223,880 | €122,834 | -€101,046 | -45.1% |
| Amounts payable within one year | 42/48 | €855,646 | €893,467 | +€37,821 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €127,221 | €107,252 | -€19,969 | -15.7% |
| Trade debts | 44 | €6,975 | €5,365 | -€1,610 | -23.1% |
| Suppliers | 440/4 | €6,975 | €5,365 | -€1,610 | -23.1% |
| Taxes, remuneration and social security | 45 | - | €15,065 | +€15,065 | |
| Taxes | 450/3 | - | €15,065 | +€15,065 | |
| Other amounts payable | 47/48 | €721,449 | €765,784 | +€44,335 | +6.1% |
| Accrued charges and deferred income | 492/3 | €11 | €126 | +€114 | +1,000% |
| Non-recurring operating income | 76A | - | €189,029 | +€189,029 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,414 | €65,097 | -€4,317 | -6.2% |
| Other operating charges | 640/8 | €12,534 | €15,809 | +€3,275 | +26.1% |
| Gross operating margin | 9900 | €67,957 | €244,965 | +€177,008 | +260% |
| Operating profit (loss) | 9901 | -€13,991 | €164,058 | +€178,049 | |
| Financial income | 75/76B | €24,537 | €47,222 | +€22,685 | +92.4% |
| Recurring financial income | 75 | €24,537 | €47,222 | +€22,685 | +92.4% |
| Financial charges | 65/66B | €16,400 | €12,675 | -€3,726 | -22.7% |
| Recurring financial charges | 65 | €16,400 | €12,675 | -€3,726 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | -€5,854 | €198,606 | +€204,460 | |
| Transfer from deferred taxes | 780 | €3,553 | €1,776 | -€1,776 | -50.0% |
| Income taxes | 67/77 | - | €28,667 | +€28,667 | |
| Profit (loss) for the period | 9904 | -€2,301 | €171,715 | +€174,017 | |
| Transfer from tax-exempt reserves | 789 | €7,213 | €3,607 | -€3,607 | -50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,912 | €175,322 | +€170,410 | +3,470% |
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.