RAETS NAVIGATION: 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.
RAETS NAVIGATION
Largest movements
- Tangible fixed assets -€28,147
down €28,147 (-13.4%), from €210,834 to €182,687
- Receivables within one year -€14,283
down €14,283 (-91.9%), from €15,550 to €1,266
of which Trade receivables: -€14,459
- Debts after one year -€20,192
down €20,192 (-25.9%), from €77,843 to €57,650
- Profit (loss) carried forward -€13,737
down €13,737 (-21.1%), from €65,167 to €51,430
- Trade debts -€6,549
down €6,549 (-98.2%), from €6,670 to €121
- Gross operating margin -€18,121
down €18,121 (-51.5%), from €35,219 to €17,098
- Taxes -€1,202
no longer reported in 2024 (was €1,202)
- Financial charges -€999
down €999 (-27.6%), from €3,625 to €2,625
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €348,603 | €308,331 | -€40,272 | -11.6% |
| Fixed assets | 21/28 | €210,834 | €182,687 | -€28,147 | -13.4% |
| Tangible fixed assets | 22/27 | €210,834 | €182,687 | -€28,147 | -13.4% |
| Plant, machinery and equipment | 23 | €210,834 | €182,687 | -€28,147 | -13.4% |
| Current assets | 29/58 | €137,769 | €125,644 | -€12,125 | -8.8% |
| Amounts receivable within one year | 40/41 | €15,550 | €1,266 | -€14,283 | -91.9% |
| Trade receivables | 40 | €14,459 | - | -€14,459 | |
| Other amounts receivable | 41 | €1,090 | €1,266 | +€176 | +16.1% |
| Cash at bank and in hand | 54/58 | €122,220 | €124,378 | +€2,159 | +1.8% |
| Total equity and liabilities | 10/49 | €348,603 | €308,331 | -€40,272 | -11.6% |
| Equity | 10/15 | €188,716 | €174,979 | -€13,737 | -7.3% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €3,550 | €3,550 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,550 | €3,550 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,550 | €3,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,167 | €51,430 | -€13,737 | -21.1% |
| Amounts payable | 17/49 | €159,887 | €133,351 | -€26,535 | -16.6% |
| Amounts payable after more than one year | 17 | €77,843 | €57,650 | -€20,192 | -25.9% |
| Financial debts | 170/4 | €77,843 | €57,650 | -€20,192 | -25.9% |
| Amounts payable within one year | 42/48 | €82,044 | €75,701 | -€6,343 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €19,728 | €19,728 | = | 0.0% |
| Trade debts | 44 | €6,670 | €121 | -€6,549 | -98.2% |
| Suppliers | 440/4 | €6,670 | €121 | -€6,549 | -98.2% |
| Taxes, remuneration and social security | 45 | €2,241 | €2,446 | +€206 | +9.2% |
| Taxes | 450/3 | €2,241 | €2,446 | +€206 | +9.2% |
| Other amounts payable | 47/48 | €53,406 | €53,406 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,147 | €28,147 | = | 0.0% |
| Other operating charges | 640/8 | €278 | €62 | -€216 | -77.7% |
| Gross operating margin | 9900 | €35,219 | €17,098 | -€18,121 | -51.5% |
| Operating profit (loss) | 9901 | €6,793 | -€11,112 | -€17,905 | |
| Financial income | 75/76B | €255 | - | -€255 | |
| Recurring financial income | 75 | €255 | - | -€255 | |
| Financial charges | 65/66B | €3,625 | €2,625 | -€999 | -27.6% |
| Recurring financial charges | 65 | €3,625 | €2,625 | -€999 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €3,423 | -€13,737 | -€17,160 | |
| Income taxes | 67/77 | €1,202 | - | -€1,202 | |
| Profit (loss) for the period | 9904 | €2,222 | -€13,737 | -€15,959 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,222 | -€13,737 | -€15,959 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.