RAJA 'S: 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.
RAJA 'S
Largest movements
- Financial fixed assets -€13,300
no longer reported in 2025 (was €13,300)
- Tangible fixed assets +€6,058
up €6,058 (+31.8%), from €19,051 to €25,109
of which Furniture and vehicles: +€6,405
- Cash -€5,232
down €5,232 (-34.8%), from €15,050 to €9,818
mainly Net result for the year (-€21,708) and Receivables within one year (-€4,073)
- Receivables within one year +€4,073
up €4,073 (+39.1%), from €10,424 to €14,497
of which Other amounts receivable: +€3,555
- Deferred charges and accrued income -€3,511
down €3,511 (-62.9%), from €5,580 to €2,069
- Profit (loss) carried forward -€21,708
down €21,708, from €12,023 to -€9,685
- Other debts +€11,938
up €11,938 (+47.8%), from €25,000 to €36,937
- Trade debts -€3,728
down €3,728 (-45.8%), from €8,136 to €4,407
- Gross operating margin -€93,071
down €93,071 (-66.4%), from €140,172 to €47,101
- Staff costs -€38,958
down €38,958 (-41.9%), from €92,889 to €53,931
- Taxes -€3,956
down €3,956 (-96.2%), from €4,112 to €156
- Depreciation +€3,045
up €3,045 (+109%), from €2,806 to €5,850
- Other operating charges +€1,852
up €1,852 (+79.2%), from €2,338 to €4,190
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 | €67,121 | €54,129 | -€12,992 | -19.4% |
| Fixed assets | 21/28 | €32,351 | €25,109 | -€7,242 | -22.4% |
| Tangible fixed assets | 22/27 | €19,051 | €25,109 | +€6,058 | +31.8% |
| Plant, machinery and equipment | 23 | €8,585 | €8,238 | -€347 | -4.0% |
| Furniture and vehicles | 24 | €10,466 | €16,871 | +€6,405 | +61.2% |
| Financial fixed assets | 28 | €13,300 | - | -€13,300 | |
| Current assets | 29/58 | €34,770 | €29,020 | -€5,750 | -16.5% |
| Stocks and contracts in progress | 3 | €3,717 | €2,636 | -€1,081 | -29.1% |
| Stocks | 30/36 | €3,717 | €2,636 | -€1,081 | -29.1% |
| Amounts receivable within one year | 40/41 | €10,424 | €14,497 | +€4,073 | +39.1% |
| Trade receivables | 40 | €8,536 | €9,054 | +€518 | +6.1% |
| Other amounts receivable | 41 | €1,888 | €5,443 | +€3,555 | +188% |
| Cash at bank and in hand | 54/58 | €15,050 | €9,818 | -€5,232 | -34.8% |
| Deferred charges and accrued income | 490/1 | €5,580 | €2,069 | -€3,511 | -62.9% |
| Total equity and liabilities | 10/49 | €67,121 | €54,129 | -€12,992 | -19.4% |
| Equity | 10/15 | €31,023 | €9,315 | -€21,708 | -70.0% |
| Reserves | 13 | €19,000 | €19,000 | = | 0.0% |
| Distributable reserves | 133 | €19,000 | €19,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,023 | -€9,685 | -€21,708 | |
| Amounts payable | 17/49 | €36,098 | €44,814 | +€8,715 | +24.1% |
| Amounts payable within one year | 42/48 | €36,098 | €44,814 | +€8,715 | +24.1% |
| Trade debts | 44 | €8,136 | €4,407 | -€3,728 | -45.8% |
| Suppliers | 440/4 | €8,136 | €4,407 | -€3,728 | -45.8% |
| Taxes, remuneration and social security | 45 | €2,963 | €3,469 | +€506 | +17.1% |
| Taxes | 450/3 | €1,049 | €549 | -€500 | -47.7% |
| Remuneration and social security | 454/9 | €1,913 | €2,919 | +€1,006 | +52.6% |
| Other amounts payable | 47/48 | €25,000 | €36,937 | +€11,938 | +47.8% |
| Non-recurring operating income | 76A | €620 | €22,084 | +€21,464 | +3,463% |
| Remuneration, social security and pensions | 62 | €92,889 | €53,931 | -€38,958 | -41.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,806 | €5,850 | +€3,045 | +109% |
| Other operating charges | 640/8 | €2,338 | €4,190 | +€1,852 | +79.2% |
| Non-recurring operating charges | 66A | €2,647 | €3,382 | +€734 | +27.7% |
| Gross operating margin | 9900 | €140,172 | €47,101 | -€93,071 | -66.4% |
| Operating profit (loss) | 9901 | €39,493 | -€20,251 | -€59,743 | |
| Financial income | 75/76B | €248 | €100 | -€148 | -59.5% |
| Recurring financial income | 75 | €248 | €100 | -€148 | -59.5% |
| Financial charges | 65/66B | €399 | €1,402 | +€1,002 | +251% |
| Recurring financial charges | 65 | €399 | €1,402 | +€1,002 | +251% |
| Profit (loss) for the period before taxes | 9903 | €39,341 | -€21,552 | -€60,893 | |
| Income taxes | 67/77 | €4,112 | €156 | -€3,956 | -96.2% |
| Profit (loss) for the period | 9904 | €35,229 | -€21,708 | -€56,937 | |
| Profit (loss) for the period to be appropriated | 9905 | €35,229 | -€21,708 | -€56,937 |
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 20 October 2026 via checked.be.