RAI'S: 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'S
Largest movements
- Receivables within one year +€16,547
up €16,547 (+79.0%), from €20,953 to €37,500
- Stocks and contracts +€14,178
up €14,178 (+56.3%), from €25,204 to €39,382
- Tangible fixed assets -€4,135
down €4,135 (-4.9%), from €84,374 to €80,239
- Cash -€2,160
down €2,160 (-8.5%), from €25,291 to €23,131
mainly Receivables within one year (-€16,547) and Stocks and contracts (-€14,178)
- Trade debts +€20,382
up €20,382 (+104%), from €19,633 to €40,015
- Reserves +€3,933
up €3,933 (+3.4%), from €114,204 to €118,137
- Gross operating margin -€8,834
down €8,834 (-33.6%), from €26,284 to €17,450
- Taxes -€1,581
down €1,581 (-33.7%), from €4,698 to €3,117
- Financial charges +€774
up €774 (+26.7%), from €2,906 to €3,680
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.
Derived cash bridge
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 | €156,702 | €182,723 | +€26,021 | +16.6% |
| Fixed assets | 21/28 | €85,189 | €81,054 | -€4,135 | -4.9% |
| Tangible fixed assets | 22/27 | €84,374 | €80,239 | -€4,135 | -4.9% |
| Land and buildings | 22 | €84,374 | €80,239 | -€4,135 | -4.9% |
| Financial fixed assets | 28 | €815 | €815 | = | 0.0% |
| Current assets | 29/58 | €71,513 | €101,669 | +€30,156 | +42.2% |
| Stocks and contracts in progress | 3 | €25,204 | €39,382 | +€14,178 | +56.3% |
| Stocks | 30/36 | €25,204 | €39,382 | +€14,178 | +56.3% |
| Amounts receivable within one year | 40/41 | €20,953 | €37,500 | +€16,547 | +79.0% |
| Other amounts receivable | 41 | €20,953 | €37,500 | +€16,547 | +79.0% |
| Cash at bank and in hand | 54/58 | €25,291 | €23,131 | -€2,160 | -8.5% |
| Deferred charges and accrued income | 490/1 | €65 | €1,655 | +€1,590 | +2,449% |
| Total equity and liabilities | 10/49 | €156,702 | €182,723 | +€26,021 | +16.6% |
| Equity | 10/15 | €132,796 | €136,729 | +€3,933 | +3.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €114,204 | €118,137 | +€3,933 | +3.4% |
| Distributable reserves | 133 | €114,204 | €118,137 | +€3,933 | +3.4% |
| Amounts payable | 17/49 | €23,906 | €45,994 | +€22,088 | +92.4% |
| Amounts payable within one year | 42/48 | €23,906 | €45,994 | +€22,088 | +92.4% |
| Trade debts | 44 | €19,633 | €40,015 | +€20,382 | +104% |
| Suppliers | 440/4 | €19,633 | €40,015 | +€20,382 | +104% |
| Taxes, remuneration and social security | 45 | €4,273 | €5,980 | +€1,706 | +39.9% |
| Taxes | 450/3 | €1,963 | €3,670 | +€1,706 | +86.9% |
| Remuneration and social security | 454/9 | €2,310 | €2,310 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,135 | €4,135 | = | 0.0% |
| Other operating charges | 640/8 | €2,413 | €2,586 | +€173 | +7.2% |
| Gross operating margin | 9900 | €26,284 | €17,450 | -€8,834 | -33.6% |
| Operating profit (loss) | 9901 | €19,736 | €10,729 | -€9,007 | -45.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €2,906 | €3,680 | +€774 | +26.7% |
| Recurring financial charges | 65 | €2,906 | €3,680 | +€774 | +26.7% |
| Profit (loss) for the period before taxes | 9903 | €16,830 | €7,050 | -€9,780 | -58.1% |
| Income taxes | 67/77 | €4,698 | €3,117 | -€1,581 | -33.7% |
| Profit (loss) for the period | 9904 | €12,132 | €3,933 | -€8,199 | -67.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,132 | €3,933 | -€8,199 | -67.6% |
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 19 October 2026 via checked.be.