RAES PATRICK & P.: what changed
What changed
RAES PATRICK & P.
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
€25,608
2024 · -€1,175+€26,783
Equity
€11,624
2024 · -€13,984+€25,608
Cash
€12,102
2024 · €9,958+€2,143
Balance sheet total
€202,532
2024 · €153,497+€49,036
Largest movements
Assets
- Stocks and contracts +€29,701
new in 2025: €29,701
- Current investments +€20,054
up €20,054 (+16.6%), from €120,707 to €140,761
- Deferred charges and accrued income -€2,447
down €2,447 (-53.4%), from €4,578 to €2,132
- Cash +€2,143
up €2,143 (+21.5%), from €9,958 to €12,102
mainly Net result for the year (+€25,608) and Other debts (+€19,254)
Equity and liabilities
- Profit (loss) carried forward +€25,608
up €25,608 (+53.8%), from -€47,571 to -€21,963
- Other debts +€19,254
up €19,254 (+12.2%), from €158,070 to €177,323
- Trade debts +€11,636
up €11,636 (+766%), from €1,520 to €13,155
- Tax, wage and social debts -€7,693
down €7,693 (-97.5%), from €7,891 to €197
of which Taxes: -€7,693
Income statement
- Staff costs -€30,910
down €30,910 (-55.0%), from €56,229 to €25,320
- Gross operating margin -€4,139
down €4,139 (-7.1%), from €58,457 to €54,319
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€1,175
Gross operating margin
-€4,139
Staff costs
+€30,910
Depreciation
-€132
Other operating charges
-€518
Financial income
+€369
Financial charges
+€297
Taxes
-€4
Result 2025
€25,608
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€23,743
Investment
-€21,600
Financing
€0
Cash 2024
€9,958
From operations (derived)
+€23,743
Net result for the year
+€25,608
Depreciation
+€2,099
Stocks and contracts
-€29,701
Receivables within one year
-€136
Deferred charges and accrued income
+€2,447
Trade debts
+€11,636
Tax, wage and social debts
-€7,693
Other debts
+€19,254
Accrued charges and deferred income
+€232
Investment (derived)
-€21,600
Investment in fixed assets (net)
-€1,546
Current investments
-€20,054
Cash 2025
€12,102
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €153,497 | €202,532 | +€49,036 | +31.9% |
| Fixed assets | 21/28 | €7,364 | €6,811 | -€552 | -7.5% |
| Tangible fixed assets | 22/27 | €7,139 | €6,587 | -€552 | -7.7% |
| Land and buildings | 22 | €1,104 | €1,338 | +€235 | +21.3% |
| Plant, machinery and equipment | 23 | €5,618 | €4,123 | -€1,495 | -26.6% |
| Furniture and vehicles | 24 | €418 | €1,125 | +€708 | +170% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €146,133 | €195,721 | +€49,588 | +33.9% |
| Stocks and contracts in progress | 3 | - | €29,701 | +€29,701 | |
| Stocks | 30/36 | - | €29,701 | +€29,701 | |
| Amounts receivable within one year | 40/41 | €10,889 | €11,026 | +€136 | +1.3% |
| Trade receivables | 40 | €1,566 | €1,792 | +€226 | +14.4% |
| Other amounts receivable | 41 | €9,323 | €9,233 | -€90 | -1.0% |
| Current investments | 50/53 | €120,707 | €140,761 | +€20,054 | +16.6% |
| Cash at bank and in hand | 54/58 | €9,958 | €12,102 | +€2,143 | +21.5% |
| Deferred charges and accrued income | 490/1 | €4,578 | €2,132 | -€2,447 | -53.4% |
| Total equity and liabilities | 10/49 | €153,497 | €202,532 | +€49,036 | +31.9% |
| Equity | 10/15 | -€13,984 | €11,624 | +€25,608 | |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €21,088 | €21,088 | = | 0.0% |
| Distributable reserves | 133 | €21,088 | €21,088 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,571 | -€21,963 | +€25,608 | +53.8% |
| Amounts payable | 17/49 | €167,480 | €190,908 | +€23,428 | +14.0% |
| Amounts payable within one year | 42/48 | €167,480 | €190,676 | +€23,196 | +13.8% |
| Trade debts | 44 | €1,520 | €13,155 | +€11,636 | +766% |
| Suppliers | 440/4 | €1,520 | €13,155 | +€11,636 | +766% |
| Taxes, remuneration and social security | 45 | €7,891 | €197 | -€7,693 | -97.5% |
| Taxes | 450/3 | €7,891 | €197 | -€7,693 | -97.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €158,070 | €177,323 | +€19,254 | +12.2% |
| Accrued charges and deferred income | 492/3 | - | €232 | +€232 | |
| Remuneration, social security and pensions | 62 | €56,229 | €25,320 | -€30,910 | -55.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,967 | €2,099 | +€132 | +6.7% |
| Other operating charges | 640/8 | €1,207 | €1,724 | +€518 | +42.9% |
| Gross operating margin | 9900 | €58,457 | €54,319 | -€4,139 | -7.1% |
| Operating profit (loss) | 9901 | -€946 | €25,176 | +€26,121 | |
| Financial income | 75/76B | €479 | €848 | +€369 | +77.1% |
| Recurring financial income | 75 | €479 | €848 | +€369 | +77.1% |
| Financial charges | 65/66B | €580 | €284 | -€297 | -51.1% |
| Recurring financial charges | 65 | €580 | €284 | -€297 | -51.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,047 | €25,740 | +€26,787 | |
| Income taxes | 67/77 | €128 | €132 | +€4 | +3.1% |
| Profit (loss) for the period | 9904 | -€1,175 | €25,608 | +€26,783 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,175 | €25,608 | +€26,783 |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.