RAIDEN BELGIUM: 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.
RAIDEN BELGIUM
Largest movements
- Receivables within one year +€77,486
up €77,486 (+865%), from €8,957 to €86,443
of which Trade receivables: +€64,172
- Deferred charges and accrued income +€48,702
up €48,702 (+562%), from €8,661 to €57,363
- Stocks and contracts +€1,999
up €1,999 (+26.8%), from €7,450 to €9,449
- Profit (loss) carried forward -€214,720
down €214,720 (-29.0%), from -€739,200 to -€953,920
- Other debts +€190,000
up €190,000 (+28.6%), from €665,166 to €855,166
- Accrued charges and deferred income +€127,932
up €127,932 (+2,186%), from €5,853 to €133,785
- Tax, wage and social debts +€19,475
up €19,475 (+96.1%), from €20,258 to €39,732
of which Taxes: +€19,560
- Trade debts +€2,971
up €2,971 (+5.1%), from €57,926 to €60,897
- Staff costs -€102,880
down €102,880 (-39.4%), from €261,267 to €158,387
- Gross operating margin +€11,251
up €11,251 (+30.3%), from -€37,133 to -€25,882
- Other operating charges -€5,037
down €5,037 (-89.4%), from €5,637 to €600
- Financial charges +€1,251
up €1,251 (+4.5%), from €27,486 to €28,737
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 | €40,002 | €165,660 | +€125,658 | +314% |
| Fixed assets | 21/28 | €3,869 | €2,837 | -€1,033 | -26.7% |
| Tangible fixed assets | 22/27 | €2,337 | €1,304 | -€1,033 | -44.2% |
| Furniture and vehicles | 24 | €2,337 | €1,304 | -€1,033 | -44.2% |
| Financial fixed assets | 28 | €1,533 | €1,533 | = | 0.0% |
| Current assets | 29/58 | €36,133 | €162,823 | +€126,690 | +351% |
| Stocks and contracts in progress | 3 | €7,450 | €9,449 | +€1,999 | +26.8% |
| Stocks | 30/36 | €7,450 | €9,449 | +€1,999 | +26.8% |
| Amounts receivable within one year | 40/41 | €8,957 | €86,443 | +€77,486 | +865% |
| Trade receivables | 40 | €37 | €64,209 | +€64,172 | +174,145% |
| Other amounts receivable | 41 | €8,920 | €22,234 | +€13,314 | +149% |
| Cash at bank and in hand | 54/58 | €11,065 | €9,568 | -€1,497 | -13.5% |
| Deferred charges and accrued income | 490/1 | €8,661 | €57,363 | +€48,702 | +562% |
| Total equity and liabilities | 10/49 | €40,002 | €165,660 | +€125,658 | +314% |
| Equity | 10/15 | -€709,200 | -€923,920 | -€214,720 | -30.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€739,200 | -€953,920 | -€214,720 | -29.0% |
| Amounts payable | 17/49 | €749,202 | €1,089,580 | +€340,378 | +45.4% |
| Amounts payable within one year | 42/48 | €743,349 | €955,795 | +€212,446 | +28.6% |
| Trade debts | 44 | €57,926 | €60,897 | +€2,971 | +5.1% |
| Suppliers | 440/4 | €57,926 | €60,897 | +€2,971 | +5.1% |
| Taxes, remuneration and social security | 45 | €20,258 | €39,732 | +€19,475 | +96.1% |
| Taxes | 450/3 | €468 | €20,029 | +€19,560 | +4,177% |
| Remuneration and social security | 454/9 | €19,789 | €19,704 | -€86 | -0.4% |
| Other amounts payable | 47/48 | €665,166 | €855,166 | +€190,000 | +28.6% |
| Accrued charges and deferred income | 492/3 | €5,853 | €133,785 | +€127,932 | +2,186% |
| Remuneration, social security and pensions | 62 | €261,267 | €158,387 | -€102,880 | -39.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €726 | €1,010 | +€284 | +39.1% |
| Other operating charges | 640/8 | €5,637 | €600 | -€5,037 | -89.4% |
| Non-recurring operating charges | 66A | - | €23 | +€23 | |
| Gross operating margin | 9900 | -€37,133 | -€25,882 | +€11,251 | +30.3% |
| Operating profit (loss) | 9901 | -€304,763 | -€185,901 | +€118,862 | +39.0% |
| Financial income | 75/76B | €65 | - | -€65 | |
| Recurring financial income | 75 | €65 | - | -€65 | |
| Financial charges | 65/66B | €27,486 | €28,737 | +€1,251 | +4.5% |
| Recurring financial charges | 65 | €27,486 | €28,737 | +€1,251 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | -€332,184 | -€214,638 | +€117,546 | +35.4% |
| Income taxes | 67/77 | €130 | €82 | -€48 | -36.9% |
| Profit (loss) for the period | 9904 | -€332,314 | -€214,720 | +€117,594 | +35.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€332,314 | -€214,720 | +€117,594 | +35.4% |
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 14 October 2026 via checked.be.