RAJ TECHNOLOGIES: 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.
RAJ TECHNOLOGIES
Largest movements
- Cash +€67,678
up €67,678 (+54.8%), from €123,565 to €191,243
mainly Net result for the year (+€77,666) and Receivables within one year (+€8,114)
- Receivables within one year -€8,114
down €8,114 (-29.0%), from €27,948 to €19,834
of which Trade receivables: -€8,721
- Profit (loss) carried forward +€77,666
up €77,666 (+62.5%), from €124,329 to €201,995
- Tax, wage and social debts -€20,713
down €20,713 (-76.3%), from €27,131 to €6,418
of which Taxes: -€20,713
- Gross operating margin -€7,582
down €7,582 (-7.1%), from €106,818 to €99,236
- Taxes -€1,565
down €1,565 (-7.1%), from €21,958 to €20,393
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 | €154,148 | €212,710 | +€58,562 | +38.0% |
| Fixed assets | 21/28 | €2,635 | €1,633 | -€1,002 | -38.0% |
| Tangible fixed assets | 22/27 | €2,635 | €1,633 | -€1,002 | -38.0% |
| Plant, machinery and equipment | 23 | €1,890 | €1,175 | -€715 | -37.8% |
| Furniture and vehicles | 24 | €745 | €458 | -€287 | -38.5% |
| Current assets | 29/58 | €151,513 | €211,077 | +€59,564 | +39.3% |
| Amounts receivable within one year | 40/41 | €27,948 | €19,834 | -€8,114 | -29.0% |
| Trade receivables | 40 | €27,948 | €19,227 | -€8,721 | -31.2% |
| Other amounts receivable | 41 | - | €607 | +€607 | |
| Cash at bank and in hand | 54/58 | €123,565 | €191,243 | +€67,678 | +54.8% |
| Total equity and liabilities | 10/49 | €154,148 | €212,710 | +€58,562 | +38.0% |
| Equity | 10/15 | €126,329 | €203,995 | +€77,666 | +61.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | €2,000 | = | 0.0% |
| Issued capital | 100 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €124,329 | €201,995 | +€77,666 | +62.5% |
| Amounts payable | 17/49 | €27,819 | €8,715 | -€19,104 | -68.7% |
| Amounts payable within one year | 42/48 | €27,819 | €8,715 | -€19,104 | -68.7% |
| Trade debts | 44 | €504 | €1,463 | +€959 | +190.3% |
| Suppliers | 440/4 | €504 | €1,463 | +€959 | +190.3% |
| Taxes, remuneration and social security | 45 | €27,131 | €6,418 | -€20,713 | -76.3% |
| Taxes | 450/3 | €26,816 | €6,103 | -€20,713 | -77.2% |
| Remuneration and social security | 454/9 | €315 | €315 | = | 0.0% |
| Other amounts payable | 47/48 | €184 | €834 | +€650 | +353.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €371 | €1,002 | +€631 | +170.1% |
| Other operating charges | 640/8 | €331 | €109 | -€222 | -67.1% |
| Gross operating margin | 9900 | €106,818 | €99,236 | -€7,582 | -7.1% |
| Operating profit (loss) | 9901 | €106,116 | €98,125 | -€7,991 | -7.5% |
| Financial charges | 65/66B | €70 | €66 | -€4 | -5.7% |
| Recurring financial charges | 65 | €70 | €66 | -€4 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €106,046 | €98,059 | -€7,987 | -7.5% |
| Income taxes | 67/77 | €21,958 | €20,393 | -€1,565 | -7.1% |
| Profit (loss) for the period | 9904 | €84,088 | €77,666 | -€6,422 | -7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €84,088 | €77,666 | -€6,422 | -7.6% |
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 2 October 2026 via checked.be.