RAES CONSULTING: 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.
RAES CONSULTING
Largest movements
- Current investments +€30,627
up €30,627 (+69.0%), from €44,417 to €75,045
- Receivables after one year -€13,303
down €13,303 (-67.7%), from €19,636 to €6,333
- Cash -€8,280
down €8,280 (-8.2%), from €101,396 to €93,116
mainly Other debts (-€40,029) and Current investments (-€30,627)
- Receivables within one year +€7,592
up €7,592 (+9.6%), from €78,958 to €86,550
of which Trade receivables: +€5,353
- Reserves +€46,281
up €46,281 (+24.3%), from €190,719 to €237,000
- Other debts -€40,029
no longer reported in 2025 (was €40,029)
- Tax, wage and social debts +€4,948
up €4,948 (+25.9%), from €19,127 to €24,075
- Trade debts +€3,362
up €3,362 (+348%), from €965 to €4,328
- Gross operating margin +€16,561
up €16,561 (+32.0%), from €51,785 to €68,346
- Taxes +€5,525
up €5,525 (+38.1%), from €14,490 to €20,015
- Depreciation -€1,385
down €1,385 (-29.6%), from €4,675 to €3,290
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 | €262,356 | €277,781 | +€15,425 | +5.9% |
| Fixed assets | 21/28 | €15,855 | €13,721 | -€2,134 | -13.5% |
| Tangible fixed assets | 22/27 | €14,595 | €12,461 | -€2,134 | -14.6% |
| Plant, machinery and equipment | 23 | €1,139 | €709 | -€430 | -37.7% |
| Furniture and vehicles | 24 | €1,092 | €1,747 | +€655 | +60.0% |
| Other tangible fixed assets | 26 | €12,365 | €10,006 | -€2,359 | -19.1% |
| Financial fixed assets | 28 | €1,260 | €1,260 | = | 0.0% |
| Current assets | 29/58 | €246,500 | €264,060 | +€17,560 | +7.1% |
| Amounts receivable after more than one year | 29 | €19,636 | €6,333 | -€13,303 | -67.7% |
| Other amounts receivable | 291 | €19,636 | €6,333 | -€13,303 | -67.7% |
| Amounts receivable within one year | 40/41 | €78,958 | €86,550 | +€7,592 | +9.6% |
| Trade receivables | 40 | €36,064 | €41,418 | +€5,353 | +14.8% |
| Other amounts receivable | 41 | €42,894 | €45,132 | +€2,238 | +5.2% |
| Current investments | 50/53 | €44,417 | €75,045 | +€30,627 | +69.0% |
| Cash at bank and in hand | 54/58 | €101,396 | €93,116 | -€8,280 | -8.2% |
| Deferred charges and accrued income | 490/1 | €2,093 | €3,016 | +€924 | +44.1% |
| Total equity and liabilities | 10/49 | €262,356 | €277,781 | +€15,425 | +5.9% |
| Equity | 10/15 | €196,919 | €243,200 | +€46,281 | +23.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €190,719 | €237,000 | +€46,281 | +24.3% |
| Distributable reserves | 133 | €190,719 | €237,000 | +€46,281 | +24.3% |
| Amounts payable | 17/49 | €65,436 | €34,580 | -€30,856 | -47.2% |
| Amounts payable within one year | 42/48 | €60,122 | €28,403 | -€31,719 | -52.8% |
| Trade debts | 44 | €965 | €4,328 | +€3,362 | +348% |
| Suppliers | 440/4 | €965 | €4,328 | +€3,362 | +348% |
| Taxes, remuneration and social security | 45 | €19,127 | €24,075 | +€4,948 | +25.9% |
| Taxes | 450/3 | €19,127 | €24,075 | +€4,948 | +25.9% |
| Other amounts payable | 47/48 | €40,029 | - | -€40,029 | |
| Accrued charges and deferred income | 492/3 | €5,314 | €6,178 | +€864 | +16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,675 | €3,290 | -€1,385 | -29.6% |
| Other operating charges | 640/8 | €1,131 | €761 | -€370 | -32.7% |
| Gross operating margin | 9900 | €51,785 | €68,346 | +€16,561 | +32.0% |
| Operating profit (loss) | 9901 | €45,979 | €64,295 | +€18,316 | +39.8% |
| Financial income | 75/76B | €3,587 | €3,475 | -€113 | -3.1% |
| Recurring financial income | 75 | €3,587 | €3,475 | -€113 | -3.1% |
| Financial charges | 65/66B | €1,794 | €1,474 | -€320 | -17.8% |
| Recurring financial charges | 65 | €1,794 | €1,474 | -€320 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €47,773 | €66,296 | +€18,523 | +38.8% |
| Income taxes | 67/77 | €14,490 | €20,015 | +€5,525 | +38.1% |
| Profit (loss) for the period | 9904 | €33,283 | €46,281 | +€12,998 | +39.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,283 | €46,281 | +€12,998 | +39.1% |
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 30 October 2026 via checked.be.