RAEYCO: 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.
RAEYCO
Largest movements
- Receivables within one year -€267,671
down €267,671 (-18.8%), from €1.4m to €1.2m
of which Other amounts receivable: -€484,254
- Cash +€42,918
up €42,918 (+107%), from €40,250 to €83,168
mainly Trade debts (+€287,641) and Receivables within one year (+€267,671)
- Other debts -€538,844
down €538,844 (-38.7%), from €1.4m to €852,997
- Trade debts +€287,641
up €287,641 (+3,032%), from €9,487 to €297,128
- Accrued charges and deferred income +€20,573
up €20,573 (+1,457%), from €1,412 to €21,985
- Financial charges +€13,186
up €13,186 (+1,185%), from €1,113 to €14,299
- Gross operating margin -€9,206
down €9,206 (-27.5%), from €33,423 to €24,217
- Financial income +€6,738
up €6,738 (+223%), from €3,023 to €9,761
- Taxes -€4,080
down €4,080 (-43.4%), from €9,408 to €5,328
- Depreciation +€836
new in 2025: €836
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 | €1,859,754 | €1,644,954 | -€214,800 | -11.5% |
| Fixed assets | 21/28 | €396,000 | €405,665 | +€9,665 | +2.4% |
| Tangible fixed assets | 22/27 | - | €7,165 | +€7,165 | |
| Furniture and vehicles | 24 | - | €7,165 | +€7,165 | |
| Financial fixed assets | 28 | €396,000 | €398,500 | +€2,500 | +0.6% |
| Current assets | 29/58 | €1,463,754 | €1,239,289 | -€224,465 | -15.3% |
| Amounts receivable within one year | 40/41 | €1,423,504 | €1,155,833 | -€267,671 | -18.8% |
| Trade receivables | 40 | €194,745 | €411,328 | +€216,583 | +111% |
| Other amounts receivable | 41 | €1,228,759 | €744,505 | -€484,254 | -39.4% |
| Cash at bank and in hand | 54/58 | €40,250 | €83,168 | +€42,918 | +107% |
| Deferred charges and accrued income | 490/1 | €0 | €288 | +€288 | |
| Total equity and liabilities | 10/49 | €1,859,754 | €1,644,954 | -€214,800 | -11.5% |
| Equity | 10/15 | €446,288 | €458,107 | +€11,818 | +2.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €427,696 | €439,515 | +€11,818 | +2.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €425,836 | €437,655 | +€11,818 | +2.8% |
| Amounts payable | 17/49 | €1,413,466 | €1,186,847 | -€226,618 | -16.0% |
| Amounts payable within one year | 42/48 | €1,412,054 | €1,164,862 | -€247,192 | -17.5% |
| Trade debts | 44 | €9,487 | €297,128 | +€287,641 | +3,032% |
| Suppliers | 440/4 | €9,487 | €297,128 | +€287,641 | +3,032% |
| Taxes, remuneration and social security | 45 | €10,726 | €14,737 | +€4,011 | +37.4% |
| Taxes | 450/3 | €10,726 | €14,737 | +€4,011 | +37.4% |
| Other amounts payable | 47/48 | €1,391,841 | €852,997 | -€538,844 | -38.7% |
| Accrued charges and deferred income | 492/3 | €1,412 | €21,985 | +€20,573 | +1,457% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €836 | +€836 | |
| Other operating charges | 640/8 | €1,236 | €1,696 | +€460 | +37.2% |
| Gross operating margin | 9900 | €33,423 | €24,217 | -€9,206 | -27.5% |
| Operating profit (loss) | 9901 | €32,187 | €21,685 | -€10,502 | -32.6% |
| Financial income | 75/76B | €3,023 | €9,761 | +€6,738 | +223% |
| Recurring financial income | 75 | €3,023 | €9,761 | +€6,738 | +223% |
| Financial charges | 65/66B | €1,113 | €14,299 | +€13,186 | +1,185% |
| Recurring financial charges | 65 | €1,113 | €14,299 | +€13,186 | +1,185% |
| Profit (loss) for the period before taxes | 9903 | €34,097 | €17,147 | -€16,951 | -49.7% |
| Income taxes | 67/77 | €9,408 | €5,328 | -€4,080 | -43.4% |
| Profit (loss) for the period | 9904 | €24,689 | €11,818 | -€12,871 | -52.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,689 | €11,818 | -€12,871 | -52.1% |
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 18 October 2026 via checked.be.