RAISô: what changed
Two fiscal 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.
RAISô
Largest movements
- Receivables within one year +€50,457
up €50,457 (+123.4%), from €40,873 to €91,330
of which Trade receivables: +€46,505
- Cash -€39,971
down €39,971 (-39.7%), from €100,750 to €60,779
mainly Receivables within one year (-€50,457) and Other debts (-€40,000)
- Receivables after one year -€5,389
down €5,389 (-100.0%), from €5,389 to €0
- Tangible fixed assets -€2,697
down €2,697 (-4.3%), from €62,646 to €59,949
of which Leasing and similar rights: -€16,567
- Other debts -€40,000
down €40,000 (-100.0%), from €40,016 to €16
- Profit (loss) carried forward +€34,956
up €34,956 (+33.0%), from €106,076 to €141,032
- Trade debts +€31,884
up €31,884 (+198.1%), from €16,093 to €47,977
- Tax, wage and social debts -€16,558
down €16,558 (-69.8%), from €23,728 to €7,170
of which Taxes: -€19,547
- Current portion of long-term debt -€15,112
down €15,112 (-72.4%), from €20,872 to €5,760
- Gross operating margin -€136,721
down €136,721 (-46.2%), from €295,814 to €159,093
- Staff costs -€89,498
down €89,498 (-52.9%), from €169,226 to €79,727
- Taxes -€7,485
down €7,485 (-34.2%), from €21,891 to €14,406
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 | €222,514 | €220,844 | -€1,670 | -0.8% |
| Fixed assets | 21/28 | €67,675 | €62,325 | -€5,350 | -7.9% |
| Intangible fixed assets | 21 | €2,519 | €1,967 | -€552 | -21.9% |
| Tangible fixed assets | 22/27 | €62,646 | €59,949 | -€2,697 | -4.3% |
| Plant, machinery and equipment | 23 | €14,390 | €27,047 | +€12,657 | +88.0% |
| Furniture and vehicles | 24 | €5,724 | €8,001 | +€2,276 | +39.8% |
| Leasing and similar rights | 25 | €35,249 | €18,682 | -€16,567 | -47.0% |
| Other tangible fixed assets | 26 | €7,283 | €6,220 | -€1,063 | -14.6% |
| Financial fixed assets | 28 | €2,510 | €410 | -€2,100 | -83.7% |
| Current assets | 29/58 | €154,839 | €158,518 | +€3,679 | +2.4% |
| Amounts receivable after more than one year | 29 | €5,389 | €0 | -€5,389 | -100.0% |
| Other amounts receivable | 291 | €5,389 | €0 | -€5,389 | -100.0% |
| Amounts receivable within one year | 40/41 | €40,873 | €91,330 | +€50,457 | +123.4% |
| Trade receivables | 40 | €35,995 | €82,499 | +€46,505 | +129.2% |
| Other amounts receivable | 41 | €4,878 | €8,830 | +€3,952 | +81.0% |
| Cash at bank and in hand | 54/58 | €100,750 | €60,779 | -€39,971 | -39.7% |
| Deferred charges and accrued income | 490/1 | €7,828 | €6,410 | -€1,418 | -18.1% |
| Total equity and liabilities | 10/49 | €222,514 | €220,844 | -€1,670 | -0.8% |
| Equity | 10/15 | €116,076 | €151,032 | +€34,956 | +30.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €106,076 | €141,032 | +€34,956 | +33.0% |
| Amounts payable | 17/49 | €106,438 | €69,812 | -€36,627 | -34.4% |
| Amounts payable after more than one year | 17 | €3,697 | €8,889 | +€5,192 | +140.4% |
| Financial debts | 170/4 | €3,697 | €8,889 | +€5,192 | +140.4% |
| Amounts payable within one year | 42/48 | €102,741 | €60,923 | -€41,819 | -40.7% |
| Current portion of amounts payable after more than one year | 42 | €20,872 | €5,760 | -€15,112 | -72.4% |
| Financial debts | 43 | €2,032 | €0 | -€2,032 | -100.0% |
| Credit institutions | 430/8 | €2,032 | €0 | -€2,032 | -100.0% |
| Trade debts | 44 | €16,093 | €47,977 | +€31,884 | +198.1% |
| Suppliers | 440/4 | €16,093 | €47,977 | +€31,884 | +198.1% |
| Taxes, remuneration and social security | 45 | €23,728 | €7,170 | -€16,558 | -69.8% |
| Taxes | 450/3 | €19,547 | €0 | -€19,547 | -100.0% |
| Remuneration and social security | 454/9 | €4,181 | €7,170 | +€2,989 | +71.5% |
| Other amounts payable | 47/48 | €40,016 | €16 | -€40,000 | -100.0% |
| Non-recurring operating income | 76A | €180 | €7,438 | +€7,258 | +4036.6% |
| Remuneration, social security and pensions | 62 | €169,226 | €79,727 | -€89,498 | -52.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,156 | €27,204 | +€2,048 | +8.1% |
| Other operating charges | 640/8 | €1,400 | €1,768 | +€368 | +26.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €295,814 | €159,093 | -€136,721 | -46.2% |
| Operating profit (loss) | 9901 | €100,033 | €50,395 | -€49,638 | -49.6% |
| Financial income | 75/76B | €130 | €205 | +€75 | +57.9% |
| Recurring financial income | 75 | €130 | €205 | +€75 | +57.9% |
| Financial charges | 65/66B | €2,723 | €1,237 | -€1,486 | -54.6% |
| Recurring financial charges | 65 | €2,723 | €1,237 | -€1,486 | -54.6% |
| Profit (loss) for the period before taxes | 9903 | €97,439 | €49,362 | -€48,076 | -49.3% |
| Income taxes | 67/77 | €21,891 | €14,406 | -€7,485 | -34.2% |
| Profit (loss) for the period | 9904 | €75,548 | €34,956 | -€40,592 | -53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €75,548 | €34,956 | -€40,592 | -53.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.