RAGOLLE: 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.
What changed
RAGOLLE
NACE 64.210, Activities of holding companies
fiscal year 31-12-2024 against 31-12-2025filed annual accounts (NBB)
Net result for the year
€36,113
31-12-2024 · -€20,102+€56,215
Equity
€24.7m
31-12-2024 · €24.7m+€36,113
Cash
€391,329
31-12-2024 · €685,170-€293,841
Balance sheet total
€39.6m
31-12-2024 · €40.4m-€773,309
Largest movements
Assets
- Tangible fixed assets -€887,409
down €887,409 (-2.7%), from €32.3m to €31.4m
Equity and liabilities
- Debts after one year -€701,616
down €701,616 (-8.0%), from €8.8m to €8.1m
of which Financial debts: -€698,916
Income statement
- Financial income -€117,294
down €117,294 (-54.1%), from €216,613 to €99,319
- Financial charges -€82,568
down €82,568 (-22.0%), from €375,123 to €292,554
- Gross operating margin +€63,255
up €63,255 (+5.7%), from €1.1m to €1.2m
- Other operating charges -€52,999
down €52,999 (-56.7%), from €93,430 to €40,431
- Taxes +€18,738
up €18,738 (+10.1%), from €185,617 to €204,356
From the 31-12-2024 result to the 31-12-2025 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.
Result 31-12-2024
-€20,102
Gross operating margin
+€63,255
Depreciation
-€725
Write-downs
-€5,850
Other operating charges
+€52,999
Financial income
-€117,294
Financial charges
+€82,568
Taxes
-€18,738
Result 31-12-2025
€36,113
Cash bridge derived
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€810,060
Investment
-€412,168
Financing
-€691,733
Cash 31-12-2024
€685,170
From operations (derived)
+€810,060
Net result for the year
+€36,113
Depreciation
+€899,577
Receivables within one year
-€8,003
Smaller working-capital items
-€1,070
Provisions
-€192,318
Trade debts
-€75,481
Other debts
+€216,355
Accrued charges and deferred income
-€65,112
Investment (derived)
-€412,168
Investment in fixed assets (net)
-€12,168
Current investments
-€400,000
Financing
-€691,733
Debts after one year
-€701,616
Current portion of long-term debt
+€9,882
Cash 31-12-2025
€391,329
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €40,352,499 | €39,579,189 | -€773,309 | -1.9% |
| Fixed assets | 21/28 | €32,325,637 | €31,438,228 | -€887,409 | -2.7% |
| Tangible fixed assets | 22/27 | €32,325,137 | €31,437,728 | -€887,409 | -2.7% |
| Land and buildings | 22 | €32,325,137 | €31,437,728 | -€887,409 | -2.7% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €8,026,862 | €8,140,962 | +€114,100 | +1.4% |
| Amounts receivable after more than one year | 29 | €255,965 | €255,965 | = | 0.0% |
| Other amounts receivable | 291 | €255,965 | €255,965 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,240,210 | €3,248,213 | +€8,003 | +0.2% |
| Trade receivables | 40 | €51,396 | €66,410 | +€15,015 | +29.2% |
| Other amounts receivable | 41 | €3,188,814 | €3,181,803 | -€7,011 | -0.2% |
| Current investments | 50/53 | €3,800,000 | €4,200,000 | +€400,000 | +10.5% |
| Cash at bank and in hand | 54/58 | €685,170 | €391,329 | -€293,841 | -42.9% |
| Deferred charges and accrued income | 490/1 | €45,517 | €45,455 | -€62 | -0.1% |
| Total equity and liabilities | 10/49 | €40,352,499 | €39,579,189 | -€773,309 | -1.9% |
| Equity | 10/15 | €24,712,505 | €24,748,618 | +€36,113 | +0.1% |
| Contributions | 10/11 | €765,475 | €765,475 | = | 0.0% |
| Capital | 10 | €765,475 | €765,475 | = | 0.0% |
| Issued capital | 100 | €765,475 | €765,475 | = | 0.0% |
| Reserves | 13 | €23,947,030 | €23,951,061 | +€4,031 | 0.0% |
| Non-distributable reserves | 130/1 | €76,547 | €76,547 | = | 0.0% |
| Legal reserve | 130 | €76,547 | €76,547 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,751,469 | €15,174,514 | -€576,955 | -3.7% |
| Distributable reserves | 133 | €8,119,014 | €8,700,000 | +€580,986 | +7.2% |
| Profit (loss) carried forward | 14 | €0 | €32,082 | +€32,082 | |
| Provisions and deferred taxes | 16 | €5,139,819 | €4,947,500 | -€192,318 | -3.7% |
| Deferred taxes | 168 | €5,139,819 | €4,947,500 | -€192,318 | -3.7% |
| Amounts payable | 17/49 | €10,500,175 | €9,883,071 | -€617,104 | -5.9% |
| Amounts payable after more than one year | 17 | €8,801,599 | €8,099,984 | -€701,616 | -8.0% |
| Financial debts | 170/4 | €8,776,554 | €8,077,639 | -€698,916 | -8.0% |
| Other amounts payable | 178/9 | €25,045 | €22,345 | -€2,700 | -10.8% |
| Amounts payable within one year | 42/48 | €1,412,738 | €1,562,361 | +€149,624 | +10.6% |
| Current portion of amounts payable after more than one year | 42 | €689,033 | €698,916 | +€9,882 | +1.4% |
| Trade debts | 44 | €101,321 | €25,840 | -€75,481 | -74.5% |
| Suppliers | 440/4 | €101,321 | €25,840 | -€75,481 | -74.5% |
| Taxes, remuneration and social security | 45 | €5,426 | €4,294 | -€1,132 | -20.9% |
| Taxes | 450/3 | €5,426 | €4,294 | -€1,132 | -20.9% |
| Other amounts payable | 47/48 | €616,957 | €833,312 | +€216,355 | +35.1% |
| Accrued charges and deferred income | 492/3 | €285,838 | €220,726 | -€65,112 | -22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €898,852 | €899,577 | +€725 | +0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,850 | €0 | +€5,850 | |
| Other operating charges | 640/8 | €93,430 | €40,431 | -€52,999 | -56.7% |
| Gross operating margin | 9900 | €1,118,138 | €1,181,393 | +€63,255 | +5.7% |
| Operating profit (loss) | 9901 | €131,706 | €241,386 | +€109,679 | +83.3% |
| Financial income | 75/76B | €216,613 | €99,319 | -€117,294 | -54.1% |
| Recurring financial income | 75 | €216,613 | €99,319 | -€117,294 | -54.1% |
| Financial charges | 65/66B | €375,123 | €292,554 | -€82,568 | -22.0% |
| Recurring financial charges | 65 | €375,123 | €292,554 | -€82,568 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | -€26,803 | €48,151 | +€74,954 | |
| Transfer from deferred taxes | 780 | €192,318 | €192,318 | -€0 | 0.0% |
| Income taxes | 67/77 | €185,617 | €204,356 | +€18,738 | +10.1% |
| Profit (loss) for the period | 9904 | -€20,102 | €36,113 | +€56,215 | |
| Transfer from tax-exempt reserves | 789 | €576,955 | €576,955 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €556,852 | €613,068 | +€56,215 | +10.1% |
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.