RAES: 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.
RAES
Largest movements
- Cash -€10,532
down €10,532 (-70.3%), from €14,972 to €4,440
mainly Investment in fixed assets (net) (-€11,048) and Net result for the year (-€1,588)
- Tangible fixed assets +€7,778
up €7,778 (+134.7%), from €5,776 to €13,554
of which Land and buildings: +€9,843
- Stocks and contracts -€1,460
down €1,460 (-24.3%), from €5,998 to €4,538
- Receivables within one year +€1,346
up €1,346 (+30.2%), from €4,452 to €5,798
of which Trade receivables: +€2,322
- Deferred charges and accrued income +€408
up €408 (+163.3%), from €250 to €659
- Profit (loss) carried forward -€1,588
down €1,588 (-31.1%), from -€5,104 to -€6,692
- Trade debts -€1,060
down €1,060 (-18.3%), from €5,802 to €4,742
- Staff costs -€3,767
down €3,767, from €3,698 to -€69
- Other operating charges +€417
up €417 (+49.1%), from €850 to €1,267
- Gross operating margin +€351
up €351 (+12.3%), from €2,851 to €3,202
- Depreciation +€71
up €71 (+2.2%), from €3,199 to €3,270
- Financial income -€59
no longer reported in 2023 (was €59)
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €31,447 | €28,988 | -€2,459 | -7.8% |
| Fixed assets | 21/28 | €5,776 | €13,554 | +€7,778 | +134.7% |
| Tangible fixed assets | 22/27 | €5,776 | €13,554 | +€7,778 | +134.7% |
| Land and buildings | 22 | €1,016 | €10,860 | +€9,843 | +968.6% |
| Plant, machinery and equipment | 23 | €3,543 | €2,040 | -€1,503 | -42.4% |
| Furniture and vehicles | 24 | €1,217 | €655 | -€562 | -46.2% |
| Current assets | 29/58 | €25,672 | €15,434 | -€10,237 | -39.9% |
| Stocks and contracts in progress | 3 | €5,998 | €4,538 | -€1,460 | -24.3% |
| Stocks | 30/36 | €5,998 | €4,538 | -€1,460 | -24.3% |
| Amounts receivable within one year | 40/41 | €4,452 | €5,798 | +€1,346 | +30.2% |
| Trade receivables | 40 | - | €2,322 | +€2,322 | |
| Other amounts receivable | 41 | €4,452 | €3,476 | -€976 | -21.9% |
| Cash at bank and in hand | 54/58 | €14,972 | €4,440 | -€10,532 | -70.3% |
| Deferred charges and accrued income | 490/1 | €250 | €659 | +€408 | +163.3% |
| Total equity and liabilities | 10/49 | €31,447 | €28,988 | -€2,459 | -7.8% |
| Equity | 10/15 | €25,646 | €24,058 | -€1,588 | -6.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €12,150 | €12,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €10,290 | €12,150 | +€1,860 | +18.1% |
| Profit (loss) carried forward | 14 | -€5,104 | -€6,692 | -€1,588 | -31.1% |
| Amounts payable | 17/49 | €5,802 | €4,930 | -€872 | -15.0% |
| Amounts payable within one year | 42/48 | €5,802 | €4,930 | -€872 | -15.0% |
| Trade debts | 44 | €5,802 | €4,742 | -€1,060 | -18.3% |
| Suppliers | 440/4 | €5,802 | €4,742 | -€1,060 | -18.3% |
| Taxes, remuneration and social security | 45 | - | €173 | +€173 | |
| Taxes | 450/3 | - | €173 | +€173 | |
| Other amounts payable | 47/48 | - | €15 | +€15 | |
| Remuneration, social security and pensions | 62 | €3,698 | -€69 | -€3,767 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,199 | €3,270 | +€71 | +2.2% |
| Other operating charges | 640/8 | €850 | €1,267 | +€417 | +49.1% |
| Gross operating margin | 9900 | €2,851 | €3,202 | +€351 | +12.3% |
| Operating profit (loss) | 9901 | -€4,896 | -€1,267 | +€3,629 | +74.1% |
| Financial income | 75/76B | €59 | - | -€59 | |
| Recurring financial income | 75 | €59 | - | -€59 | |
| Financial charges | 65/66B | €268 | €321 | +€53 | +20.0% |
| Recurring financial charges | 65 | €268 | €321 | +€53 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,104 | -€1,588 | +€3,516 | +68.9% |
| Profit (loss) for the period | 9904 | -€5,104 | -€1,588 | +€3,516 | +68.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,104 | -€1,588 | +€3,516 | +68.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.