RAES & VAN STEENDAM: 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 & VAN STEENDAM
Largest movements
- Receivables within one year -€90,780
down €90,780 (-43.7%), from €207,919 to €117,139
of which Other amounts receivable: -€80,747
- Cash -€39,749
down €39,749 (-58.1%), from €68,454 to €28,706
mainly Trade debts (-€68,703) and Accrued charges and deferred income (-€42,835)
- Trade debts -€68,703
down €68,703 (-93.2%), from €73,741 to €5,038
- Accrued charges and deferred income -€42,835
down €42,835 (-86.9%), from €49,303 to €6,468
- Profit (loss) carried forward -€19,278
down €19,278 (-140%), from -€13,739 to -€33,017
- Gross operating margin +€28,167
up €28,167 (+73.2%), from -€38,501 to -€10,334
- Financial charges -€23,498
down €23,498 (-77.8%), from €30,185 to €6,687
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 | €577,425 | €446,897 | -€130,528 | -22.6% |
| Current assets | 29/58 | €577,425 | €446,897 | -€130,528 | -22.6% |
| Stocks and contracts in progress | 3 | €301,052 | €301,052 | = | 0.0% |
| Stocks | 30/36 | €301,052 | €301,052 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €207,919 | €117,139 | -€90,780 | -43.7% |
| Trade receivables | 40 | €126,260 | €116,227 | -€10,033 | -7.9% |
| Other amounts receivable | 41 | €81,659 | €912 | -€80,747 | -98.9% |
| Cash at bank and in hand | 54/58 | €68,454 | €28,706 | -€39,749 | -58.1% |
| Total equity and liabilities | 10/49 | €577,425 | €446,897 | -€130,528 | -22.6% |
| Equity | 10/15 | €6,721 | -€12,557 | -€19,278 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,739 | -€33,017 | -€19,278 | -140% |
| Amounts payable | 17/49 | €570,704 | €459,453 | -€111,251 | -19.5% |
| Amounts payable within one year | 42/48 | €521,401 | €452,985 | -€68,415 | -13.1% |
| Trade debts | 44 | €73,741 | €5,038 | -€68,703 | -93.2% |
| Suppliers | 440/4 | €73,741 | €5,038 | -€68,703 | -93.2% |
| Taxes, remuneration and social security | 45 | - | €288 | +€288 | |
| Taxes | 450/3 | - | €288 | +€288 | |
| Other amounts payable | 47/48 | €447,660 | €447,660 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €49,303 | €6,468 | -€42,835 | -86.9% |
| Other operating charges | 640/8 | €1,973 | €2,257 | +€284 | +14.4% |
| Gross operating margin | 9900 | -€38,501 | -€10,334 | +€28,167 | +73.2% |
| Operating profit (loss) | 9901 | -€40,474 | -€12,591 | +€27,883 | +68.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €30,185 | €6,687 | -€23,498 | -77.8% |
| Recurring financial charges | 65 | €30,185 | €6,687 | -€23,498 | -77.8% |
| Profit (loss) for the period before taxes | 9903 | -€70,659 | -€19,278 | +€51,381 | +72.7% |
| Profit (loss) for the period | 9904 | -€70,659 | -€19,278 | +€51,381 | +72.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€70,659 | -€19,278 | +€51,381 | +72.7% |
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 24 October 2026 via checked.be.