RAEMDONCK: what changed
Two fiscal 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
- Tangible fixed assets +€524,296
up €524,296 (+16.1%), from €3.2m to €3.8m
of which Leasing and similar rights: +€399,541
- Receivables within one year +€238,100
up €238,100 (+25.9%), from €919,953 to €1.2m
of which Trade receivables: +€242,009
- Cash -€140,957
down €140,957 (-42.3%), from €332,925 to €191,969
mainly Investment in fixed assets (net) (-€1.1m) and Receivables within one year (-€238,100)
- Reserves +€481,421
up €481,421 (+22.3%), from €2.2m to €2.6m
of which Distributable reserves: +€376,171
- Current portion of long-term debt +€101,802
up €101,802 (+21.7%), from €469,894 to €571,697
- Other debts +€96,835
up €96,835 (+205.8%), from €47,060 to €143,895
- Gross operating margin +€407,894
up €407,894 (+20.1%), from €2.0m to €2.4m
- Depreciation +€153,791
up €153,791 (+34.9%), from €441,145 to €594,936
- Staff costs +€106,278
up €106,278 (+11.8%), from €900,621 to €1.0m
- Write-downs -€77,159
down €77,159, from €46,062 to -€31,097
- Taxes +€61,576
up €61,576 (+51.6%), from €119,306 to €180,882
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.
Cash bridge derived
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 | €4,578,151 | €5,256,002 | +€677,851 | +14.8% |
| Fixed assets | 21/28 | €3,249,134 | €3,791,031 | +€541,896 | +16.7% |
| Tangible fixed assets | 22/27 | €3,248,401 | €3,772,698 | +€524,296 | +16.1% |
| Land and buildings | 22 | €1,759,893 | €1,990,492 | +€230,599 | +13.1% |
| Plant, machinery and equipment | 23 | €450,409 | €377,205 | -€73,204 | -16.3% |
| Furniture and vehicles | 24 | €147,447 | €118,682 | -€28,766 | -19.5% |
| Leasing and similar rights | 25 | €864,195 | €1,263,736 | +€399,541 | +46.2% |
| Other tangible fixed assets | 26 | €26,457 | €22,583 | -€3,874 | -14.6% |
| Financial fixed assets | 28 | €733 | €18,333 | +€17,600 | +2401.1% |
| Current assets | 29/58 | €1,329,016 | €1,464,971 | +€135,955 | +10.2% |
| Stocks and contracts in progress | 3 | €31,202 | €38,178 | +€6,977 | +22.4% |
| Stocks | 30/36 | €9,320 | €19,776 | +€10,456 | +112.2% |
| Contracts in progress | 37 | €21,882 | €18,403 | -€3,479 | -15.9% |
| Amounts receivable within one year | 40/41 | €919,953 | €1,158,053 | +€238,100 | +25.9% |
| Trade receivables | 40 | €841,644 | €1,083,653 | +€242,009 | +28.8% |
| Other amounts receivable | 41 | €78,309 | €74,399 | -€3,909 | -5.0% |
| Cash at bank and in hand | 54/58 | €332,925 | €191,969 | -€140,957 | -42.3% |
| Deferred charges and accrued income | 490/1 | €44,936 | €76,772 | +€31,836 | +70.8% |
| Total equity and liabilities | 10/49 | €4,578,151 | €5,256,002 | +€677,851 | +14.8% |
| Equity | 10/15 | €2,182,875 | €2,664,296 | +€481,421 | +22.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,157,875 | €2,639,296 | +€481,421 | +22.3% |
| Tax-exempt reserves | 132 | €210,500 | €315,750 | +€105,250 | +50.0% |
| Distributable reserves | 133 | €1,947,375 | €2,323,546 | +€376,171 | +19.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €2,395,275 | €2,591,706 | +€196,430 | +8.2% |
| Amounts payable after more than one year | 17 | €1,288,233 | €1,256,979 | -€31,253 | -2.4% |
| Financial debts | 170/4 | €1,288,233 | €1,256,979 | -€31,253 | -2.4% |
| Amounts payable within one year | 42/48 | €1,037,018 | €1,237,269 | +€200,251 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €469,894 | €571,697 | +€101,802 | +21.7% |
| Trade debts | 44 | €506,346 | €507,646 | +€1,300 | +0.3% |
| Suppliers | 440/4 | €506,346 | €507,646 | +€1,300 | +0.3% |
| Taxes, remuneration and social security | 45 | €13,718 | €14,032 | +€314 | +2.3% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €13,718 | €14,032 | +€314 | +2.3% |
| Other amounts payable | 47/48 | €47,060 | €143,895 | +€96,835 | +205.8% |
| Accrued charges and deferred income | 492/3 | €70,025 | €97,457 | +€27,432 | +39.2% |
| Non-recurring operating income | 76A | €10,000 | €48,000 | +€38,000 | +380.0% |
| Remuneration, social security and pensions | 62 | €900,621 | €1,006,899 | +€106,278 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €441,145 | €594,936 | +€153,791 | +34.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €46,062 | -€31,097 | -€77,159 | |
| Other operating charges | 640/8 | €32,566 | €28,618 | -€3,948 | -12.1% |
| Gross operating margin | 9900 | €2,025,739 | €2,433,633 | +€407,894 | +20.1% |
| Operating profit (loss) | 9901 | €605,346 | €834,278 | +€228,932 | +37.8% |
| Financial income | 75/76B | €17,357 | €20,292 | +€2,935 | +16.9% |
| Recurring financial income | 75 | €17,357 | €20,292 | +€2,935 | +16.9% |
| Financial charges | 65/66B | €55,083 | €55,903 | +€820 | +1.5% |
| Recurring financial charges | 65 | €55,083 | €55,903 | +€820 | +1.5% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €567,619 | €798,666 | +€231,047 | +40.7% |
| Income taxes | 67/77 | €119,306 | €180,882 | +€61,576 | +51.6% |
| Profit (loss) for the period | 9904 | €448,314 | €617,785 | +€169,471 | +37.8% |
| Transfer to tax-exempt reserves | 689 | €210,500 | €105,250 | -€105,250 | -50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €237,814 | €512,535 | +€274,721 | +115.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.