Rai: 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.
Rai
Largest movements
- Cash +€48,003
up €48,003 (+55.5%), from €86,541 to €134,544
mainly Net result for the year (+€43,952) and Receivables within one year (+€4,652)
- Receivables within one year -€4,652
down €4,652 (-42.6%), from €10,925 to €6,273
of which Trade receivables: -€5,337
- Tangible fixed assets -€3,544
down €3,544 (-12.3%), from €28,811 to €25,267
- Profit (loss) carried forward +€43,952
up €43,952 (+76.7%), from €57,328 to €101,281
- Tax, wage and social debts -€3,333
down €3,333 (-16.9%), from €19,761 to €16,428
of which Taxes: -€4,328
- Staff costs +€12,718
up €12,718 (+65.1%), from €19,532 to €32,250
- Taxes -€3,011
down €3,011 (-20.9%), from €14,418 to €11,407
- Gross operating margin -€2,146
down €2,146 (-2.2%), from €96,496 to €94,351
- Other operating charges +€1,828
up €1,828 (+167.7%), from €1,090 to €2,918
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 | €138,868 | €178,475 | +€39,607 | +28.5% |
| Fixed assets | 21/28 | €37,828 | €34,084 | -€3,744 | -9.9% |
| Intangible fixed assets | 21 | €1,817 | €1,617 | -€200 | -11.0% |
| Tangible fixed assets | 22/27 | €28,811 | €25,267 | -€3,544 | -12.3% |
| Plant, machinery and equipment | 23 | €28,811 | €25,267 | -€3,544 | -12.3% |
| Financial fixed assets | 28 | €7,200 | €7,200 | = | 0.0% |
| Current assets | 29/58 | €101,041 | €144,391 | +€43,350 | +42.9% |
| Stocks and contracts in progress | 3 | €3,575 | €3,575 | = | 0.0% |
| Stocks | 30/36 | €3,575 | €3,575 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,925 | €6,273 | -€4,652 | -42.6% |
| Trade receivables | 40 | €5,337 | - | -€5,337 | |
| Other amounts receivable | 41 | €5,588 | €6,273 | +€685 | +12.3% |
| Cash at bank and in hand | 54/58 | €86,541 | €134,544 | +€48,003 | +55.5% |
| Total equity and liabilities | 10/49 | €138,868 | €178,475 | +€39,607 | +28.5% |
| Equity | 10/15 | €117,328 | €161,281 | +€43,952 | +37.5% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,328 | €101,281 | +€43,952 | +76.7% |
| Amounts payable | 17/49 | €21,540 | €17,194 | -€4,346 | -20.2% |
| Amounts payable within one year | 42/48 | €21,540 | €17,194 | -€4,346 | -20.2% |
| Trade debts | 44 | €1,779 | €376 | -€1,403 | -78.8% |
| Suppliers | 440/4 | €1,779 | €376 | -€1,403 | -78.8% |
| Taxes, remuneration and social security | 45 | €19,761 | €16,428 | -€3,333 | -16.9% |
| Taxes | 450/3 | €18,134 | €13,806 | -€4,328 | -23.9% |
| Remuneration and social security | 454/9 | €1,627 | €2,622 | +€994 | +61.1% |
| Other amounts payable | 47/48 | - | €390 | +€390 | |
| Remuneration, social security and pensions | 62 | €19,532 | €32,250 | +€12,718 | +65.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,091 | €3,744 | +€653 | +21.1% |
| Other operating charges | 640/8 | €1,090 | €2,918 | +€1,828 | +167.7% |
| Gross operating margin | 9900 | €96,496 | €94,351 | -€2,146 | -2.2% |
| Operating profit (loss) | 9901 | €72,783 | €55,439 | -€17,345 | -23.8% |
| Financial income | 75/76B | €3 | €13 | +€11 | +369.0% |
| Recurring financial income | 75 | €3 | €13 | +€11 | +369.0% |
| Financial charges | 65/66B | €1,040 | €93 | -€947 | -91.0% |
| Recurring financial charges | 65 | €1,040 | €93 | -€947 | -91.0% |
| Profit (loss) for the period before taxes | 9903 | €71,746 | €55,359 | -€16,387 | -22.8% |
| Income taxes | 67/77 | €14,418 | €11,407 | -€3,011 | -20.9% |
| Profit (loss) for the period | 9904 | €57,328 | €43,952 | -€13,376 | -23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €57,328 | €43,952 | -€13,376 | -23.3% |
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 9 October 2026 via checked.be.