RAEPERS GROUP: 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.
RAEPERS GROUP
Largest movements
- Cash +€1.2m
up €1.2m (+381%), from €313,739 to €1.5m
mainly Contributions, distributions and other (+€1.2m) and Trade debts (+€247,014)
- Stocks and contracts +€340,283
up €340,283 (+270%), from €126,082 to €466,365
- Receivables within one year +€123,293
up €123,293 (+221%), from €55,818 to €179,111
of which Trade receivables: +€146,145
- Contributions +€1.2m
up €1.2m (+24,000%), from €5,000 to €1.2m
- Trade debts +€247,014
up €247,014 (+1,005%), from €24,580 to €271,594
- Tax, wage and social debts +€238,176
up €238,176 (+135,397%), from €176 to €238,352
of which Taxes: +€179,297
- Debts after one year -€43,466
down €43,466 (-8.4%), from €517,976 to €474,510
- Gross operating margin +€541,504
up €541,504 (+1,061%), from €51,050 to €592,553
- Staff costs +€447,354
new in 2025: €447,354
- Depreciation +€66,638
up €66,638 (+150%), from €44,380 to €111,018
- Other operating charges +€25,305
up €25,305 (+1,895%), from €1,335 to €26,640
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 | €861,536 | €2,505,541 | +€1.6m | +191% |
| Fixed assets | 21/28 | €359,903 | €351,653 | -€8,250 | -2.3% |
| Intangible fixed assets | 21 | €14,564 | €30,153 | +€15,588 | +107% |
| Tangible fixed assets | 22/27 | €345,339 | €321,500 | -€23,839 | -6.9% |
| Plant, machinery and equipment | 23 | €79,294 | €76,957 | -€2,337 | -2.9% |
| Furniture and vehicles | 24 | €266,045 | €244,544 | -€21,501 | -8.1% |
| Current assets | 29/58 | €501,632 | €2,153,888 | +€1.7m | +329% |
| Stocks and contracts in progress | 3 | €126,082 | €466,365 | +€340,283 | +270% |
| Stocks | 30/36 | €126,082 | €466,365 | +€340,283 | +270% |
| Amounts receivable within one year | 40/41 | €55,818 | €179,111 | +€123,293 | +221% |
| Trade receivables | 40 | €4,235 | €150,380 | +€146,145 | +3,451% |
| Other amounts receivable | 41 | €51,583 | €28,731 | -€22,852 | -44.3% |
| Cash at bank and in hand | 54/58 | €313,739 | €1,508,155 | +€1.2m | +381% |
| Deferred charges and accrued income | 490/1 | €5,992 | €257 | -€5,735 | -95.7% |
| Total equity and liabilities | 10/49 | €861,536 | €2,505,541 | +€1.6m | +191% |
| Equity | 10/15 | €318,804 | €1,520,918 | +€1.2m | +377% |
| Contributions | 10/11 | €5,000 | €1,205,000 | +€1.2m | +24,000% |
| Reserves | 13 | €313,804 | €315,918 | +€2,114 | +0.7% |
| Distributable reserves | 133 | €313,804 | €315,918 | +€2,114 | +0.7% |
| Amounts payable | 17/49 | €542,732 | €984,623 | +€441,892 | +81.4% |
| Amounts payable after more than one year | 17 | €517,976 | €474,510 | -€43,466 | -8.4% |
| Other amounts payable | 178/9 | €517,976 | €474,510 | -€43,466 | -8.4% |
| Amounts payable within one year | 42/48 | €24,756 | €509,946 | +€485,190 | +1,960% |
| Trade debts | 44 | €24,580 | €271,594 | +€247,014 | +1,005% |
| Suppliers | 440/4 | €24,580 | €271,594 | +€247,014 | +1,005% |
| Taxes, remuneration and social security | 45 | €176 | €238,352 | +€238,176 | +135,397% |
| Taxes | 450/3 | €176 | €179,473 | +€179,297 | +101,925% |
| Remuneration and social security | 454/9 | - | €58,880 | +€58,880 | |
| Accrued charges and deferred income | 492/3 | - | €167 | +€167 | |
| Remuneration, social security and pensions | 62 | - | €447,354 | +€447,354 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,380 | €111,018 | +€66,638 | +150% |
| Other operating charges | 640/8 | €1,335 | €26,640 | +€25,305 | +1,895% |
| Gross operating margin | 9900 | €51,050 | €592,553 | +€541,504 | +1,061% |
| Operating profit (loss) | 9901 | €5,335 | €7,541 | +€2,207 | +41.4% |
| Financial income | 75/76B | €474 | €143 | -€332 | -69.9% |
| Recurring financial income | 75 | €474 | €143 | -€332 | -69.9% |
| Financial charges | 65/66B | €159 | €835 | +€677 | +427% |
| Recurring financial charges | 65 | €159 | €835 | +€677 | +427% |
| Profit (loss) for the period before taxes | 9903 | €5,650 | €6,849 | +€1,199 | +21.2% |
| Income taxes | 67/77 | €176 | €4,735 | +€4,559 | +2,592% |
| Profit (loss) for the period | 9904 | €5,474 | €2,114 | -€3,361 | -61.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,474 | €2,114 | -€3,361 | -61.4% |
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 26 October 2026 via checked.be.