RAIDHO: 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.
RAIDHO
Largest movements
- Stocks and contracts -€6,939
down €6,939 (-27.6%), from €25,138 to €18,199
- Deferred charges and accrued income -€4,589
down €4,589 (-34.9%), from €13,145 to €8,556
- Cash +€3,497
up €3,497 (+499622.9%), from €1 to €3,498
mainly Net result for the year (+€15,194) and Depreciation (+€7,351)
- Receivables within one year -€1,941
down €1,941 (-6.3%), from €30,752 to €28,810
of which Other amounts receivable: -€1,243
- Trade debts -€16,584
down €16,584 (-54.0%), from €30,699 to €14,115
- Profit (loss) carried forward +€15,194
up €15,194 (+1.5%), from -€996,895 to -€981,701
- Short-term financial debts -€3,692
no longer reported in 2025 (was €3,692)
- Tax, wage and social debts -€2,507
down €2,507 (-15.6%), from €16,041 to €13,534
of which Remuneration and social security: -€1,495
- Advances received -€2,328
down €2,328 (-48.8%), from €4,773 to €2,445
- Gross operating margin +€19,469
up €19,469 (+33.9%), from €57,398 to €76,867
- Staff costs +€3,174
up €3,174 (+6.9%), from €45,753 to €48,927
- Depreciation +€868
up €868 (+13.4%), from €6,483 to €7,351
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 | €94,747 | €84,830 | -€9,918 | -10.5% |
| Fixed assets | 21/28 | €25,712 | €25,767 | +€55 | +0.2% |
| Tangible fixed assets | 22/27 | €22,112 | €22,167 | +€55 | +0.2% |
| Plant, machinery and equipment | 23 | €7,129 | €10,692 | +€3,563 | +50.0% |
| Furniture and vehicles | 24 | €5,492 | €3,420 | -€2,072 | -37.7% |
| Leasing and similar rights | 25 | €235 | - | -€235 | |
| Other tangible fixed assets | 26 | €9,257 | €8,055 | -€1,201 | -13.0% |
| Financial fixed assets | 28 | €3,600 | €3,600 | = | 0.0% |
| Current assets | 29/58 | €69,035 | €59,063 | -€9,972 | -14.4% |
| Stocks and contracts in progress | 3 | €25,138 | €18,199 | -€6,939 | -27.6% |
| Stocks | 30/36 | €25,138 | €18,199 | -€6,939 | -27.6% |
| Amounts receivable within one year | 40/41 | €30,752 | €28,810 | -€1,941 | -6.3% |
| Trade receivables | 40 | €27,454 | €26,756 | -€698 | -2.5% |
| Other amounts receivable | 41 | €3,298 | €2,054 | -€1,243 | -37.7% |
| Cash at bank and in hand | 54/58 | €1 | €3,498 | +€3,497 | +499622.9% |
| Deferred charges and accrued income | 490/1 | €13,145 | €8,556 | -€4,589 | -34.9% |
| Total equity and liabilities | 10/49 | €94,747 | €84,830 | -€9,918 | -10.5% |
| Equity | 10/15 | €39,542 | €54,736 | +€15,194 | +38.4% |
| Contributions | 10/11 | €1,036,437 | €1,036,437 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€996,895 | -€981,701 | +€15,194 | +1.5% |
| Amounts payable | 17/49 | €55,205 | €30,094 | -€25,112 | -45.5% |
| Amounts payable within one year | 42/48 | €55,205 | €30,094 | -€25,112 | -45.5% |
| Financial debts | 43 | €3,692 | - | -€3,692 | |
| Credit institutions | 430/8 | €3,692 | - | -€3,692 | |
| Trade debts | 44 | €30,699 | €14,115 | -€16,584 | -54.0% |
| Suppliers | 440/4 | €30,699 | €14,115 | -€16,584 | -54.0% |
| Advances received on contracts in progress | 46 | €4,773 | €2,445 | -€2,328 | -48.8% |
| Taxes, remuneration and social security | 45 | €16,041 | €13,534 | -€2,507 | -15.6% |
| Taxes | 450/3 | €10,197 | €9,185 | -€1,012 | -9.9% |
| Remuneration and social security | 454/9 | €5,844 | €4,348 | -€1,495 | -25.6% |
| Non-recurring operating income | 76A | - | €10,280 | +€10,280 | |
| Remuneration, social security and pensions | 62 | €45,753 | €48,927 | +€3,174 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,483 | €7,351 | +€868 | +13.4% |
| Other operating charges | 640/8 | €2,443 | €2,619 | +€176 | +7.2% |
| Gross operating margin | 9900 | €57,398 | €76,867 | +€19,469 | +33.9% |
| Operating profit (loss) | 9901 | €2,719 | €17,970 | +€15,252 | +561.0% |
| Financial income | 75/76B | €69 | €77 | +€8 | +11.4% |
| Recurring financial income | 75 | €69 | €77 | +€8 | +11.4% |
| Financial charges | 65/66B | €3,394 | €2,653 | -€741 | -21.8% |
| Recurring financial charges | 65 | €3,394 | €2,563 | -€831 | -24.5% |
| Non-recurring financial charges | 66B | - | €90 | +€90 | |
| Profit (loss) for the period before taxes | 9903 | -€606 | €15,395 | +€16,001 | |
| Income taxes | 67/77 | €201 | €201 | -€1 | -0.3% |
| Profit (loss) for the period | 9904 | -€807 | €15,194 | +€16,001 | |
| Profit (loss) for the period to be appropriated | 9905 | -€807 | €15,194 | +€16,001 |
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 9 October 2026 via checked.be.