RAES JIM: 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 JIM
Largest movements
- Cash -€122,253
down €122,253 (-32.6%), from €375,024 to €252,771
mainly Investment in fixed assets (net) (-€134,871) and Contributions, distributions and other (-€91,060)
- Tangible fixed assets +€63,380
up €63,380 (+12.0%), from €529,769 to €593,149
of which Land and buildings: +€91,381
- Reserves -€139,377
down €139,377 (-33.3%), from €418,060 to €278,683
- Other debts +€121,010
up €121,010 (+68.5%), from €176,535 to €297,545
- Debts after one year -€34,098
down €34,098 (-13.6%), from €251,533 to €217,435
- Advances received -€13,677
down €13,677 (-7.7%), from €178,715 to €165,038
- Gross operating margin +€35,950
up €35,950 (+22.1%), from €162,653 to €198,603
- Taxes -€33,402
down €33,402, from €26,923 to -€6,480
- Financial charges +€9,661
up €9,661 (+112%), from €8,605 to €18,266
- Other operating charges +€6,418
up €6,418 (+143%), from €4,486 to €10,904
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 | €1,107,337 | €1,032,924 | -€74,413 | -6.7% |
| Fixed assets | 21/28 | €529,949 | €593,329 | +€63,380 | +12.0% |
| Tangible fixed assets | 22/27 | €529,769 | €593,149 | +€63,380 | +12.0% |
| Land and buildings | 22 | €418,297 | €509,677 | +€91,381 | +21.8% |
| Plant, machinery and equipment | 23 | €33,457 | €43,414 | +€9,957 | +29.8% |
| Furniture and vehicles | 24 | €78,015 | €40,058 | -€37,957 | -48.7% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €577,388 | €439,595 | -€137,793 | -23.9% |
| Stocks and contracts in progress | 3 | €62,106 | €53,376 | -€8,730 | -14.1% |
| Stocks | 30/36 | €62,106 | €53,376 | -€8,730 | -14.1% |
| Amounts receivable within one year | 40/41 | €103,040 | €97,921 | -€5,119 | -5.0% |
| Trade receivables | 40 | €93,287 | €77,063 | -€16,224 | -17.4% |
| Other amounts receivable | 41 | €9,753 | €20,858 | +€11,105 | +114% |
| Current investments | 50/53 | €32,599 | €32,599 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €375,024 | €252,771 | -€122,253 | -32.6% |
| Deferred charges and accrued income | 490/1 | €4,620 | €2,928 | -€1,692 | -36.6% |
| Total equity and liabilities | 10/49 | €1,107,337 | €1,032,924 | -€74,413 | -6.7% |
| Equity | 10/15 | €438,060 | €291,740 | -€146,320 | -33.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €418,060 | €278,683 | -€139,377 | -33.3% |
| Distributable reserves | 133 | €418,060 | €278,683 | -€139,377 | -33.3% |
| Profit (loss) carried forward | 14 | - | -€6,943 | -€6,943 | |
| Amounts payable | 17/49 | €669,277 | €741,184 | +€71,907 | +10.7% |
| Amounts payable after more than one year | 17 | €251,533 | €217,435 | -€34,098 | -13.6% |
| Financial debts | 170/4 | €251,533 | €217,435 | -€34,098 | -13.6% |
| Amounts payable within one year | 42/48 | €417,744 | €516,283 | +€98,539 | +23.6% |
| Current portion of amounts payable after more than one year | 42 | €33,894 | €34,098 | +€204 | +0.6% |
| Trade debts | 44 | €17,290 | €10,821 | -€6,470 | -37.4% |
| Suppliers | 440/4 | €17,290 | €10,821 | -€6,470 | -37.4% |
| Advances received on contracts in progress | 46 | €178,715 | €165,038 | -€13,677 | -7.7% |
| Taxes, remuneration and social security | 45 | €11,308 | €8,781 | -€2,527 | -22.3% |
| Taxes | 450/3 | €7,665 | €4,581 | -€3,084 | -40.2% |
| Remuneration and social security | 454/9 | €3,643 | €4,200 | +€557 | +15.3% |
| Other amounts payable | 47/48 | €176,535 | €297,545 | +€121,010 | +68.5% |
| Accrued charges and deferred income | 492/3 | - | €7,466 | +€7,466 | |
| Remuneration, social security and pensions | 62 | €23,751 | €22,860 | -€891 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,111 | €71,491 | -€1,620 | -2.2% |
| Other operating charges | 640/8 | €4,486 | €10,904 | +€6,418 | +143% |
| Non-recurring operating charges | 66A | - | €138,997 | +€138,997 | |
| Gross operating margin | 9900 | €162,653 | €198,603 | +€35,950 | +22.1% |
| Operating profit (loss) | 9901 | €61,306 | -€45,649 | -€106,955 | |
| Financial income | 75/76B | €1,597 | €2,175 | +€578 | +36.2% |
| Recurring financial income | 75 | €1,597 | €2,175 | +€578 | +36.2% |
| Financial charges | 65/66B | €8,605 | €18,266 | +€9,661 | +112% |
| Recurring financial charges | 65 | €8,605 | €18,266 | +€9,661 | +112% |
| Profit (loss) for the period before taxes | 9903 | €54,298 | -€61,740 | -€116,038 | |
| Income taxes | 67/77 | €26,923 | -€6,480 | -€33,402 | |
| Profit (loss) for the period | 9904 | €27,375 | -€55,260 | -€82,635 | |
| Transfer from tax-exempt reserves | 789 | €5,877 | €0 | -€5,877 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €33,252 | -€55,260 | -€88,512 |
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 19 October 2026 via checked.be.