Rai Stone: 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 Stone
Largest movements
- Receivables within one year +€26,992
up €26,992 (+15.7%), from €171,713 to €198,705
of which Trade receivables: +€17,214
- Tangible fixed assets +€12,919
up €12,919 (+503.1%), from €2,568 to €15,487
of which Other tangible fixed assets: +€9,495
- Other debts +€100,804
up €100,804 (+1775.7%), from €5,677 to €106,481
- Reserves -€71,682
down €71,682 (-35.6%), from €201,191 to €129,509
- Tax, wage and social debts +€12,833
up €12,833 (+48.9%), from €26,265 to €39,098
- Gross operating margin -€15,793
down €15,793 (-16.4%), from €96,532 to €80,739
- Financial charges +€8,139
up €8,139 (+917.6%), from €887 to €9,026
- Taxes -€4,663
down €4,663 (-18.7%), from €24,883 to €20,220
- Financial income -€3,595
down €3,595 (-99.0%), from €3,633 to €38
- Depreciation +€1,473
up €1,473 (+132.9%), from €1,108 to €2,581
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 | €1,116,822 | €1,163,763 | +€46,941 | +4.2% |
| Fixed assets | 21/28 | €828,946 | €841,865 | +€12,919 | +1.6% |
| Tangible fixed assets | 22/27 | €2,568 | €15,487 | +€12,919 | +503.1% |
| Plant, machinery and equipment | 23 | €2,568 | €3,905 | +€1,337 | +52.1% |
| Furniture and vehicles | 24 | - | €2,087 | +€2,087 | |
| Other tangible fixed assets | 26 | - | €9,495 | +€9,495 | |
| Financial fixed assets | 28 | €826,378 | €826,378 | = | 0.0% |
| Current assets | 29/58 | €287,876 | €321,898 | +€34,022 | +11.8% |
| Amounts receivable within one year | 40/41 | €171,713 | €198,705 | +€26,992 | +15.7% |
| Trade receivables | 40 | €170,897 | €188,111 | +€17,214 | +10.1% |
| Other amounts receivable | 41 | €816 | €10,594 | +€9,778 | +1198.3% |
| Current investments | 50/53 | €17,037 | €17,037 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €98,364 | €105,331 | +€6,967 | +7.1% |
| Deferred charges and accrued income | 490/1 | €762 | €825 | +€63 | +8.3% |
| Total equity and liabilities | 10/49 | €1,116,822 | €1,163,763 | +€46,941 | +4.2% |
| Equity | 10/15 | €205,191 | €133,509 | -€71,682 | -34.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €201,191 | €129,509 | -€71,682 | -35.6% |
| Distributable reserves | 133 | €201,191 | €129,509 | -€71,682 | -35.6% |
| Amounts payable | 17/49 | €911,631 | €1,030,254 | +€118,623 | +13.0% |
| Amounts payable after more than one year | 17 | €850,000 | €850,000 | = | 0.0% |
| Other amounts payable | 178/9 | €850,000 | €850,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €61,631 | €180,254 | +€118,623 | +192.5% |
| Trade debts | 44 | €29,689 | €34,675 | +€4,986 | +16.8% |
| Suppliers | 440/4 | €29,689 | €34,675 | +€4,986 | +16.8% |
| Taxes, remuneration and social security | 45 | €26,265 | €39,098 | +€12,833 | +48.9% |
| Taxes | 450/3 | €26,265 | €39,098 | +€12,833 | +48.9% |
| Other amounts payable | 47/48 | €5,677 | €106,481 | +€100,804 | +1775.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,108 | €2,581 | +€1,473 | +132.9% |
| Other operating charges | 640/8 | €1,686 | €2,985 | +€1,299 | +77.0% |
| Gross operating margin | 9900 | €96,532 | €80,739 | -€15,793 | -16.4% |
| Operating profit (loss) | 9901 | €93,738 | €75,173 | -€18,565 | -19.8% |
| Financial income | 75/76B | €3,633 | €38 | -€3,595 | -99.0% |
| Recurring financial income | 75 | €3,633 | €38 | -€3,595 | -99.0% |
| Financial charges | 65/66B | €887 | €9,026 | +€8,139 | +917.6% |
| Recurring financial charges | 65 | €887 | €9,026 | +€8,139 | +917.6% |
| Profit (loss) for the period before taxes | 9903 | €96,484 | €66,185 | -€30,299 | -31.4% |
| Income taxes | 67/77 | €24,883 | €20,220 | -€4,663 | -18.7% |
| Profit (loss) for the period | 9904 | €71,601 | €45,965 | -€25,636 | -35.8% |
| Profit (loss) for the period to be appropriated | 9905 | €71,601 | €45,965 | -€25,636 | -35.8% |
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 12 October 2026 via checked.be.