Raes Solutions: 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 Solutions
Largest movements
- Cash -€6,798
down €6,798 (-61.8%), from €10,995 to €4,197
mainly Receivables within one year (-€4,390) and Contributions, distributions and other (-€3,653)
- Receivables within one year +€4,390
up €4,390 (+26.6%), from €16,499 to €20,889
of which Trade receivables: +€4,400
- Tangible fixed assets -€935
down €935 (-30.9%), from €3,028 to €2,094
- Other debts -€2,362
down €2,362 (-27.5%), from €8,577 to €6,215
- Trade debts -€980
no longer reported in 2026 (was €980)
- Gross operating margin -€6,085
down €6,085 (-50.0%), from €12,161 to €6,076
- Taxes -€1,453
down €1,453 (-52.3%), from €2,777 to €1,324
- Financial income -€285
down €285 (-41.3%), from €690 to €405
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,707 | €27,365 | -€3,342 | -10.9% |
| Fixed assets | 21/28 | €3,029 | €2,095 | -€935 | -30.8% |
| Tangible fixed assets | 22/27 | €3,028 | €2,094 | -€935 | -30.9% |
| Furniture and vehicles | 24 | €3,028 | €2,094 | -€935 | -30.9% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €27,678 | €25,270 | -€2,408 | -8.7% |
| Amounts receivable within one year | 40/41 | €16,499 | €20,889 | +€4,390 | +26.6% |
| Trade receivables | 40 | €331 | €4,731 | +€4,400 | +1330.9% |
| Other amounts receivable | 41 | €16,168 | €16,159 | -€10 | -0.1% |
| Cash at bank and in hand | 54/58 | €10,995 | €4,197 | -€6,798 | -61.8% |
| Deferred charges and accrued income | 490/1 | €183 | €183 | = | 0.0% |
| Total equity and liabilities | 10/49 | €30,707 | €27,365 | -€3,342 | -10.9% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable | 17/49 | €12,107 | €8,765 | -€3,342 | -27.6% |
| Amounts payable within one year | 42/48 | €12,107 | €8,765 | -€3,342 | -27.6% |
| Trade debts | 44 | €980 | - | -€980 | |
| Suppliers | 440/4 | €980 | - | -€980 | |
| Taxes, remuneration and social security | 45 | €2,550 | €2,550 | = | 0.0% |
| Taxes | 450/3 | €2,550 | €2,550 | = | 0.0% |
| Other amounts payable | 47/48 | €8,577 | €6,215 | -€2,362 | -27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €935 | €935 | = | 0.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €12,161 | €6,076 | -€6,085 | -50.0% |
| Operating profit (loss) | 9901 | €10,721 | €4,622 | -€6,099 | -56.9% |
| Financial income | 75/76B | €690 | €405 | -€285 | -41.3% |
| Recurring financial income | 75 | €690 | €405 | -€285 | -41.3% |
| Financial charges | 65/66B | €56 | €49 | -€7 | -12.8% |
| Recurring financial charges | 65 | €56 | €49 | -€7 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €11,354 | €4,977 | -€6,377 | -56.2% |
| Income taxes | 67/77 | €2,777 | €1,324 | -€1,453 | -52.3% |
| Profit (loss) for the period | 9904 | €8,577 | €3,653 | -€4,923 | -57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,577 | €3,653 | -€4,923 | -57.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.