RAGAF: 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.
RAGAF
Largest movements
- Tangible fixed assets -€10,124
down €10,124 (-14.9%), from €67,844 to €57,720
- Deferred charges and accrued income +€9,340
new in 2025: €9,340
- Receivables within one year -€2,530
down €2,530 (-13.3%), from €19,048 to €16,518
of which Trade receivables: -€3,098
- Cash -€1,499
down €1,499 (-3.3%), from €44,923 to €43,424
mainly Deferred charges and accrued income (-€9,340) and Other debts (-€6,348)
- Other debts -€6,348
down €6,348 (-9.3%), from €68,126 to €61,778
- Gross operating margin -€3,345
down €3,345 (-22.1%), from €15,118 to €11,773
- Taxes -€821
down €821 (-71.1%), from €1,155 to €334
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 | €131,815 | €127,002 | -€4,813 | -3.7% |
| Fixed assets | 21/28 | €67,844 | €57,720 | -€10,124 | -14.9% |
| Tangible fixed assets | 22/27 | €67,844 | €57,720 | -€10,124 | -14.9% |
| Land and buildings | 22 | €67,844 | €57,720 | -€10,124 | -14.9% |
| Current assets | 29/58 | €63,971 | €69,282 | +€5,311 | +8.3% |
| Amounts receivable within one year | 40/41 | €19,048 | €16,518 | -€2,530 | -13.3% |
| Trade receivables | 40 | €18,925 | €15,827 | -€3,098 | -16.4% |
| Other amounts receivable | 41 | €123 | €691 | +€568 | +461.8% |
| Cash at bank and in hand | 54/58 | €44,923 | €43,424 | -€1,499 | -3.3% |
| Deferred charges and accrued income | 490/1 | - | €9,340 | +€9,340 | |
| Total equity and liabilities | 10/49 | €131,815 | €127,002 | -€4,813 | -3.7% |
| Equity | 10/15 | €61,235 | €62,239 | +€1,004 | +1.6% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €4,958 | €4,958 | = | 0.0% |
| Distributable reserves | 133 | €4,958 | €4,958 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,698 | €7,702 | +€1,004 | +15.0% |
| Amounts payable | 17/49 | €70,580 | €64,763 | -€5,817 | -8.2% |
| Amounts payable within one year | 42/48 | €70,580 | €64,763 | -€5,817 | -8.2% |
| Trade debts | 44 | €610 | €467 | -€143 | -23.4% |
| Suppliers | 440/4 | €610 | €467 | -€143 | -23.4% |
| Taxes, remuneration and social security | 45 | €1,844 | €2,518 | +€674 | +36.6% |
| Taxes | 450/3 | €1,844 | €2,518 | +€674 | +36.6% |
| Other amounts payable | 47/48 | €68,126 | €61,778 | -€6,348 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,125 | €10,124 | -€1 | 0.0% |
| Gross operating margin | 9900 | €15,118 | €11,773 | -€3,345 | -22.1% |
| Operating profit (loss) | 9901 | €4,993 | €1,649 | -€3,344 | -67.0% |
| Financial charges | 65/66B | €319 | €311 | -€8 | -2.5% |
| Recurring financial charges | 65 | €319 | €311 | -€8 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | €4,674 | €1,338 | -€3,336 | -71.4% |
| Income taxes | 67/77 | €1,155 | €334 | -€821 | -71.1% |
| Profit (loss) for the period | 9904 | €3,519 | €1,004 | -€2,515 | -71.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,519 | €1,004 | -€2,515 | -71.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.