RAITO: 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.
RAITO
Largest movements
- Intangible fixed assets -€482,264
down €482,264 (-24.4%), from €2.0m to €1.5m
- Receivables after one year +€109,041
new in 2025: €109,041
- Receivables within one year +€61,565
up €61,565 (+42.0%), from €146,584 to €208,149
of which Other amounts receivable: +€104,188
- Profit (loss) carried forward -€337,747
down €337,747 (-21.7%), from -€1.6m to -€1.9m
- Tax, wage and social debts +€82,918
up €82,918 (+131.7%), from €62,972 to €145,890
of which Remuneration and social security: +€52,848
- Accrued charges and deferred income -€70,393
no longer reported in 2025 (was €70,393)
- Gross operating margin +€1.5m
up €1.5m (+649.0%), from €237,500 to €1.8m
- Depreciation +€1.1m
up €1.1m (+306.6%), from €357,763 to €1.5m
- Staff costs -€51,901
down €51,901 (-7.4%), from €700,796 to €648,895
- Taxes -€49,302
down €49,302 (-11337.7%), from -€435 to -€49,737
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.
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 | €2,681,172 | €2,348,481 | -€332,691 | -12.4% |
| Fixed assets | 21/28 | €1,982,817 | €1,493,879 | -€488,938 | -24.7% |
| Intangible fixed assets | 21 | €1,975,254 | €1,492,990 | -€482,264 | -24.4% |
| Tangible fixed assets | 22/27 | €4,263 | - | -€4,263 | |
| Plant, machinery and equipment | 23 | €4,263 | - | -€4,263 | |
| Financial fixed assets | 28 | €3,300 | €889 | -€2,411 | -73.1% |
| Current assets | 29/58 | €698,354 | €854,602 | +€156,248 | +22.4% |
| Amounts receivable after more than one year | 29 | - | €109,041 | +€109,041 | |
| Other amounts receivable | 291 | - | €109,041 | +€109,041 | |
| Amounts receivable within one year | 40/41 | €146,584 | €208,149 | +€61,565 | +42.0% |
| Trade receivables | 40 | €42,623 | - | -€42,623 | |
| Other amounts receivable | 41 | €103,961 | €208,149 | +€104,188 | +100.2% |
| Cash at bank and in hand | 54/58 | €505,729 | €501,945 | -€3,784 | -0.7% |
| Deferred charges and accrued income | 490/1 | €46,042 | €35,467 | -€10,575 | -23.0% |
| Total equity and liabilities | 10/49 | €2,681,172 | €2,348,481 | -€332,691 | -12.4% |
| Equity | 10/15 | €2,485,276 | €2,147,529 | -€337,747 | -13.6% |
| Contributions | 10/11 | €4,040,000 | €4,040,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,554,724 | -€1,892,471 | -€337,747 | -21.7% |
| Amounts payable | 17/49 | €195,896 | €200,951 | +€5,055 | +2.6% |
| Amounts payable after more than one year | 17 | €15,000 | - | -€15,000 | |
| Financial debts | 170/4 | €15,000 | - | -€15,000 | |
| Amounts payable within one year | 42/48 | €110,503 | €200,951 | +€90,448 | +81.9% |
| Trade debts | 44 | €47,531 | €55,061 | +€7,530 | +15.8% |
| Suppliers | 440/4 | €47,531 | €55,061 | +€7,530 | +15.8% |
| Taxes, remuneration and social security | 45 | €62,972 | €145,890 | +€82,918 | +131.7% |
| Taxes | 450/3 | €251 | €30,321 | +€30,070 | +11980.1% |
| Remuneration and social security | 454/9 | €62,721 | €115,569 | +€52,848 | +84.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €70,393 | - | -€70,393 | |
| Non-recurring operating income | 76A | - | €54,861 | +€54,861 | |
| Remuneration, social security and pensions | 62 | €700,796 | €648,895 | -€51,901 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €357,763 | €1,454,744 | +€1.1m | +306.6% |
| Other operating charges | 640/8 | €1,215 | €8,584 | +€7,369 | +606.3% |
| Non-recurring operating charges | 66A | - | €50,243 | +€50,243 | |
| Gross operating margin | 9900 | €237,500 | €1,778,885 | +€1.5m | +649.0% |
| Operating profit (loss) | 9901 | -€822,275 | -€383,582 | +€438,693 | +53.4% |
| Financial income | 75/76B | €18,075 | €653 | -€17,422 | -96.4% |
| Recurring financial income | 75 | €18,075 | €653 | -€17,422 | -96.4% |
| Financial charges | 65/66B | €13,876 | €4,554 | -€9,322 | -67.2% |
| Recurring financial charges | 65 | €13,876 | €4,554 | -€9,322 | -67.2% |
| Profit (loss) for the period before taxes | 9903 | -€818,076 | -€387,483 | +€430,593 | +52.6% |
| Income taxes | 67/77 | -€435 | -€49,737 | -€49,302 | -11337.7% |
| Profit (loss) for the period | 9904 | -€817,641 | -€337,746 | +€479,895 | +58.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€817,641 | -€337,746 | +€479,895 | +58.7% |
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 5 October 2026 via checked.be.