RAION CAPITAL: 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.
RAION CAPITAL
Largest movements
- Current investments +€26,950
up €26,950 (+7.7%), from €350,375 to €377,325
- Receivables within one year +€11,969
up €11,969 (+27.4%), from €43,617 to €55,586
of which Trade receivables: +€13,995
- Cash +€7,420
up €7,420 (+604%), from €1,228 to €8,647
mainly Other debts (+€100,000) and Net result for the year (+€74,193)
- Other debts +€100,000
up €100,000, from €0 to €100,000
- Reserves -€26,000
down €26,000 (-11.3%), from €231,000 to €205,000
- Short-term financial debts -€16,625
down €16,625 (-7.0%), from €236,727 to €220,102
of which Credit institutions: -€20,000
- Tax, wage and social debts -€7,237
down €7,237 (-39.6%), from €18,257 to €11,020
of which Taxes: -€5,091
- Debts after one year -€7,103
down €7,103 (-12.6%), from €56,286 to €49,184
- Gross operating margin -€14,941
down €14,941 (-11.3%), from €132,701 to €117,761
- Taxes -€2,569
down €2,569 (-8.3%), from €31,020 to €28,451
- Financial charges -€1,871
down €1,871 (-14.6%), from €12,821 to €10,950
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 | €556,571 | €596,115 | +€39,544 | +7.1% |
| Fixed assets | 21/28 | €24,153 | €19,009 | -€5,143 | -21.3% |
| Tangible fixed assets | 22/27 | €13,653 | €8,509 | -€5,143 | -37.7% |
| Land and buildings | 22 | €1,118 | €204 | -€914 | -81.7% |
| Plant, machinery and equipment | 23 | €6,929 | €5,765 | -€1,163 | -16.8% |
| Furniture and vehicles | 24 | €5,606 | €2,540 | -€3,066 | -54.7% |
| Financial fixed assets | 28 | €10,500 | €10,500 | = | 0.0% |
| Current assets | 29/58 | €532,418 | €577,105 | +€44,687 | +8.4% |
| Amounts receivable after more than one year | 29 | €134,500 | €134,500 | = | 0.0% |
| Other amounts receivable | 291 | €134,500 | €134,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €43,617 | €55,586 | +€11,969 | +27.4% |
| Trade receivables | 40 | €39,750 | €53,745 | +€13,995 | +35.2% |
| Other amounts receivable | 41 | €3,867 | €1,841 | -€2,026 | -52.4% |
| Current investments | 50/53 | €350,375 | €377,325 | +€26,950 | +7.7% |
| Cash at bank and in hand | 54/58 | €1,228 | €8,647 | +€7,420 | +604% |
| Deferred charges and accrued income | 490/1 | €2,698 | €1,047 | -€1,651 | -61.2% |
| Total equity and liabilities | 10/49 | €556,571 | €596,115 | +€39,544 | +7.1% |
| Equity | 10/15 | €232,679 | €206,872 | -€25,807 | -11.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €231,000 | €205,000 | -€26,000 | -11.3% |
| Distributable reserves | 133 | €231,000 | €205,000 | -€26,000 | -11.3% |
| Profit (loss) carried forward | 14 | €679 | €872 | +€193 | +28.4% |
| Amounts payable | 17/49 | €323,891 | €389,242 | +€65,351 | +20.2% |
| Amounts payable after more than one year | 17 | €56,286 | €49,184 | -€7,103 | -12.6% |
| Financial debts | 170/4 | €56,286 | €49,184 | -€7,103 | -12.6% |
| Amounts payable within one year | 42/48 | €267,605 | €340,059 | +€72,454 | +27.1% |
| Current portion of amounts payable after more than one year | 42 | €11,138 | €7,103 | -€4,035 | -36.2% |
| Financial debts | 43 | €236,727 | €220,102 | -€16,625 | -7.0% |
| Credit institutions | 430/8 | €230,000 | €210,000 | -€20,000 | -8.7% |
| Other loans | 439 | €6,727 | €10,102 | +€3,375 | +50.2% |
| Trade debts | 44 | €1,483 | €1,834 | +€351 | +23.7% |
| Suppliers | 440/4 | €1,483 | €1,834 | +€351 | +23.7% |
| Taxes, remuneration and social security | 45 | €18,257 | €11,020 | -€7,237 | -39.6% |
| Taxes | 450/3 | €16,111 | €11,020 | -€5,091 | -31.6% |
| Remuneration and social security | 454/9 | €2,146 | €0 | -€2,146 | -100% |
| Other amounts payable | 47/48 | €0 | €100,000 | +€100,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,964 | €5,143 | -€821 | -13.8% |
| Other operating charges | 640/8 | €1,191 | €1,071 | -€121 | -10.1% |
| Gross operating margin | 9900 | €132,701 | €117,761 | -€14,941 | -11.3% |
| Operating profit (loss) | 9901 | €125,546 | €111,547 | -€13,999 | -11.2% |
| Financial income | 75/76B | €1,799 | €2,047 | +€248 | +13.8% |
| Recurring financial income | 75 | €1,799 | €2,047 | +€248 | +13.8% |
| Financial charges | 65/66B | €12,821 | €10,950 | -€1,871 | -14.6% |
| Recurring financial charges | 65 | €12,821 | €10,950 | -€1,871 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €114,524 | €102,644 | -€11,880 | -10.4% |
| Income taxes | 67/77 | €31,020 | €28,451 | -€2,569 | -8.3% |
| Profit (loss) for the period | 9904 | €83,504 | €74,193 | -€9,312 | -11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €83,504 | €74,193 | -€9,312 | -11.2% |
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 31 October 2026 via checked.be.