RAGA: 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.
RAGA
Largest movements
- Tangible fixed assets -€21,596
down €21,596 (-9.0%), from €239,382 to €217,785
- Profit (loss) carried forward -€30,802
down €30,802 (-9.3%), from -€332,487 to -€363,290
- Other debts +€9,206
up €9,206 (+2.6%), from €360,869 to €370,075
- Gross operating margin +€1,794
up €1,794 (+16.3%), from -€11,000 to -€9,206
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €239,382 | €217,785 | -€21,596 | -9.0% |
| Fixed assets | 21/28 | €239,382 | €217,785 | -€21,596 | -9.0% |
| Tangible fixed assets | 22/27 | €239,382 | €217,785 | -€21,596 | -9.0% |
| Land and buildings | 22 | €239,382 | €217,785 | -€21,596 | -9.0% |
| Total equity and liabilities | 10/49 | €239,382 | €217,785 | -€21,596 | -9.0% |
| Equity | 10/15 | -€132,487 | -€163,290 | -€30,802 | -23.2% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€332,487 | -€363,290 | -€30,802 | -9.3% |
| Amounts payable | 17/49 | €371,869 | €381,075 | +€9,206 | +2.5% |
| Amounts payable within one year | 42/48 | €371,869 | €381,075 | +€9,206 | +2.5% |
| Trade debts | 44 | €11,000 | €11,000 | = | 0.0% |
| Suppliers | 440/4 | €11,000 | €11,000 | = | 0.0% |
| Other amounts payable | 47/48 | €360,869 | €370,075 | +€9,206 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,596 | €21,596 | = | 0.0% |
| Gross operating margin | 9900 | -€11,000 | -€9,206 | +€1,794 | +16.3% |
| Operating profit (loss) | 9901 | -€32,596 | -€30,802 | +€1,794 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | -€32,596 | -€30,802 | +€1,794 | +5.5% |
| Profit (loss) for the period | 9904 | -€32,596 | -€30,802 | +€1,794 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,596 | -€30,802 | +€1,794 | +5.5% |
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 8 October 2026 via checked.be.