Raf Gorris: 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.
Raf Gorris
Largest movements
- Receivables within one year -€763,000
down €763,000 (-97.8%), from €780,000 to €17,000
- Receivables after one year -€238,000
no longer reported in 2025 (was €238,000)
- Cash +€63,448
up €63,448 (+76.7%), from €82,699 to €146,147
mainly Receivables within one year (+€763,000) and Receivables after one year (+€238,000)
- Tangible fixed assets -€20,133
down €20,133 (-25.0%), from €80,533 to €60,400
- Profit (loss) carried forward -€556,449
new in 2025: -€556,449
- Other debts -€401,237
down €401,237 (-49.9%), from €804,124 to €402,888
- Other operating charges +€587,992
up €587,992 (+16385.2%), from €3,589 to €591,580
- Financial income +€11,493
up €11,493 (+89.6%), from €12,826 to €24,319
- Financial charges -€11,000
down €11,000 (-99.0%), from €11,107 to €107
- Taxes +€8,876
up €8,876, from -€3,994 to €4,882
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.
Cash bridge derived
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 | €1,263,984 | €306,298 | -€957,686 | -75.8% |
| Fixed assets | 21/28 | €163,285 | €143,151 | -€20,133 | -12.3% |
| Tangible fixed assets | 22/27 | €80,533 | €60,400 | -€20,133 | -25.0% |
| Land and buildings | 22 | €80,533 | €60,400 | -€20,133 | -25.0% |
| Financial fixed assets | 28 | €82,751 | €82,751 | = | 0.0% |
| Current assets | 29/58 | €1,100,699 | €163,147 | -€937,552 | -85.2% |
| Amounts receivable after more than one year | 29 | €238,000 | - | -€238,000 | |
| Trade receivables | 290 | €238,000 | - | -€238,000 | |
| Amounts receivable within one year | 40/41 | €780,000 | €17,000 | -€763,000 | -97.8% |
| Other amounts receivable | 41 | €780,000 | €17,000 | -€763,000 | -97.8% |
| Cash at bank and in hand | 54/58 | €82,699 | €146,147 | +€63,448 | +76.7% |
| Total equity and liabilities | 10/49 | €1,263,984 | €306,298 | -€957,686 | -75.8% |
| Equity | 10/15 | €459,859 | -€96,590 | -€556,449 | |
| Contributions | 10/11 | €426,000 | €426,000 | = | 0.0% |
| Reserves | 13 | €33,859 | €33,859 | = | 0.0% |
| Distributable reserves | 133 | €33,859 | €33,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€556,449 | -€556,449 | |
| Amounts payable | 17/49 | €804,124 | €402,888 | -€401,237 | -49.9% |
| Amounts payable within one year | 42/48 | €804,124 | €402,888 | -€401,237 | -49.9% |
| Other amounts payable | 47/48 | €804,124 | €402,888 | -€401,237 | -49.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,133 | €20,133 | = | 0.0% |
| Other operating charges | 640/8 | €3,589 | €591,580 | +€587,992 | +16385.2% |
| Gross operating margin | 9900 | €35,633 | €35,934 | +€301 | +0.8% |
| Operating profit (loss) | 9901 | €11,911 | -€575,779 | -€587,691 | |
| Financial income | 75/76B | €12,826 | €24,319 | +€11,493 | +89.6% |
| Recurring financial income | 75 | €12,826 | €24,319 | +€11,493 | +89.6% |
| Financial charges | 65/66B | €11,107 | €107 | -€11,000 | -99.0% |
| Recurring financial charges | 65 | €11,107 | €107 | -€11,000 | -99.0% |
| Profit (loss) for the period before taxes | 9903 | €13,630 | -€551,567 | -€565,198 | |
| Income taxes | 67/77 | -€3,994 | €4,882 | +€8,876 | |
| Profit (loss) for the period | 9904 | €17,625 | -€556,449 | -€574,073 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,625 | -€556,449 | -€574,073 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.