RAKOMA: 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.
RAKOMA
Largest movements
- Receivables within one year -€172,282
down €172,282 (-28.6%), from €603,071 to €430,789
of which Trade receivables: -€158,454
- Cash +€54,594
up €54,594 (+28.0%), from €194,913 to €249,507
mainly Receivables within one year (+€172,282) and Short-term financial debts (+€63,921)
- Trade debts -€255,895
down €255,895 (-57.3%), from €446,848 to €190,953
- Short-term financial debts +€63,921
new in 2025: €63,921
- Reserves +€35,504
up €35,504 (+7.6%), from €470,131 to €505,635
of which Distributable reserves: +€35,504
- Tax, wage and social debts +€17,195
up €17,195 (+10.1%), from €169,553 to €186,748
of which Taxes: +€23,747
- Gross operating margin -€95,052
down €95,052 (-14.4%), from €661,838 to €566,787
- Staff costs -€28,888
down €28,888 (-5.6%), from €517,141 to €488,254
- Taxes -€14,629
down €14,629 (-46.1%), from €31,727 to €17,098
- Financial charges -€6,702
down €6,702 (-25.1%), from €26,678 to €19,976
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 | €1,180,490 | €1,046,492 | -€133,998 | -11.4% |
| Fixed assets | 21/28 | €24,852 | €17,573 | -€7,279 | -29.3% |
| Tangible fixed assets | 22/27 | €24,803 | €17,524 | -€7,279 | -29.3% |
| Plant, machinery and equipment | 23 | €2,046 | €4,796 | +€2,750 | +134% |
| Furniture and vehicles | 24 | €19,907 | €11,303 | -€8,604 | -43.2% |
| Other tangible fixed assets | 26 | €2,850 | €1,425 | -€1,425 | -50.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €1,155,637 | €1,028,919 | -€126,718 | -11.0% |
| Stocks and contracts in progress | 3 | €353,366 | €344,961 | -€8,405 | -2.4% |
| Stocks | 30/36 | €168,498 | €169,546 | +€1,048 | +0.6% |
| Contracts in progress | 37 | €184,868 | €175,415 | -€9,453 | -5.1% |
| Amounts receivable within one year | 40/41 | €603,071 | €430,789 | -€172,282 | -28.6% |
| Trade receivables | 40 | €432,218 | €273,764 | -€158,454 | -36.7% |
| Other amounts receivable | 41 | €170,852 | €157,024 | -€13,828 | -8.1% |
| Cash at bank and in hand | 54/58 | €194,913 | €249,507 | +€54,594 | +28.0% |
| Deferred charges and accrued income | 490/1 | €4,288 | €3,663 | -€625 | -14.6% |
| Total equity and liabilities | 10/49 | €1,180,490 | €1,046,492 | -€133,998 | -11.4% |
| Equity | 10/15 | €532,131 | €567,635 | +€35,504 | +6.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €470,131 | €505,635 | +€35,504 | +7.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €463,931 | €499,435 | +€35,504 | +7.7% |
| Amounts payable | 17/49 | €648,359 | €478,857 | -€169,502 | -26.1% |
| Amounts payable within one year | 42/48 | €648,359 | €478,857 | -€169,502 | -26.1% |
| Current portion of amounts payable after more than one year | 42 | €31,958 | €37,235 | +€5,277 | +16.5% |
| Financial debts | 43 | - | €63,921 | +€63,921 | |
| Credit institutions | 430/8 | - | €63,921 | +€63,921 | |
| Trade debts | 44 | €446,848 | €190,953 | -€255,895 | -57.3% |
| Suppliers | 440/4 | €446,848 | €190,953 | -€255,895 | -57.3% |
| Taxes, remuneration and social security | 45 | €169,553 | €186,748 | +€17,195 | +10.1% |
| Taxes | 450/3 | €92,064 | €115,811 | +€23,747 | +25.8% |
| Remuneration and social security | 454/9 | €77,489 | €70,937 | -€6,552 | -8.5% |
| Remuneration, social security and pensions | 62 | €517,141 | €488,254 | -€28,888 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,727 | €11,392 | +€665 | +6.2% |
| Other operating charges | 640/8 | €3,652 | €4,201 | +€549 | +15.0% |
| Gross operating margin | 9900 | €661,838 | €566,787 | -€95,052 | -14.4% |
| Operating profit (loss) | 9901 | €130,318 | €62,940 | -€67,378 | -51.7% |
| Financial income | 75/76B | €9,545 | €9,638 | +€92 | +1.0% |
| Recurring financial income | 75 | €9,545 | €9,638 | +€92 | +1.0% |
| Financial charges | 65/66B | €26,678 | €19,976 | -€6,702 | -25.1% |
| Recurring financial charges | 65 | €26,678 | €19,976 | -€6,702 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | €113,185 | €52,602 | -€60,583 | -53.5% |
| Income taxes | 67/77 | €31,727 | €17,098 | -€14,629 | -46.1% |
| Profit (loss) for the period | 9904 | €81,458 | €35,504 | -€45,955 | -56.4% |
| Profit (loss) for the period to be appropriated | 9905 | €81,458 | €35,504 | -€45,955 | -56.4% |
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 13 October 2026 via checked.be.