RALPHAZAR: 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.
RALPHAZAR
Largest movements
- Receivables within one year -€5,364
down €5,364 (-48.2%), from €11,137 to €5,772
of which Trade receivables: -€3,400
- Profit (loss) carried forward -€21,914
down €21,914 (-13.2%), from -€165,660 to -€187,574
- Short-term financial debts +€12,719
up €12,719 (+15.3%), from €83,029 to €95,748
of which Other loans: +€12,750
- Other debts +€11,254
up €11,254 (+272.1%), from €4,136 to €15,390
- Tax, wage and social debts -€9,569
down €9,569 (-42.6%), from €22,437 to €12,868
of which Taxes: -€8,327
- Accrued charges and deferred income +€2,100
up €2,100 (+7.7%), from €27,300 to €29,400
- Staff costs -€14,036
down €14,036, from €14,025 to -€11
- Write-downs -€5,712
no longer reported in 2025 (was €5,712)
- Other operating charges -€3,425
down €3,425 (-81.2%), from €4,219 to €794
- Financial charges -€896
down €896 (-21.9%), from €4,087 to €3,190
- Gross operating margin -€555
down €555 (-3.2%), from -€17,385 to -€17,941
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,137 | €5,772 | -€5,364 | -48.2% |
| Current assets | 29/58 | €11,137 | €5,772 | -€5,364 | -48.2% |
| Amounts receivable within one year | 40/41 | €11,137 | €5,772 | -€5,364 | -48.2% |
| Trade receivables | 40 | €3,820 | €420 | -€3,400 | -89.0% |
| Other amounts receivable | 41 | €7,317 | €5,352 | -€1,964 | -26.8% |
| Total equity and liabilities | 10/49 | €11,137 | €5,772 | -€5,364 | -48.2% |
| Equity | 10/15 | -€127,200 | -€149,114 | -€21,914 | -17.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,860 | €19,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€165,660 | -€187,574 | -€21,914 | -13.2% |
| Amounts payable | 17/49 | €138,337 | €154,886 | +€16,550 | +12.0% |
| Amounts payable within one year | 42/48 | €111,037 | €125,486 | +€14,450 | +13.0% |
| Financial debts | 43 | €83,029 | €95,748 | +€12,719 | +15.3% |
| Credit institutions | 430/8 | €31 | - | -€31 | |
| Other loans | 439 | €82,998 | €95,748 | +€12,750 | +15.4% |
| Trade debts | 44 | €1,436 | €1,481 | +€45 | +3.1% |
| Suppliers | 440/4 | €1,436 | €1,481 | +€45 | +3.1% |
| Taxes, remuneration and social security | 45 | €22,437 | €12,868 | -€9,569 | -42.6% |
| Taxes | 450/3 | €20,275 | €11,948 | -€8,327 | -41.1% |
| Remuneration and social security | 454/9 | €2,162 | €920 | -€1,242 | -57.5% |
| Other amounts payable | 47/48 | €4,136 | €15,390 | +€11,254 | +272.1% |
| Accrued charges and deferred income | 492/3 | €27,300 | €29,400 | +€2,100 | +7.7% |
| Non-recurring operating income | 76A | €3,620 | - | -€3,620 | |
| Remuneration, social security and pensions | 62 | €14,025 | -€11 | -€14,036 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,712 | - | -€5,712 | |
| Other operating charges | 640/8 | €4,219 | €794 | -€3,425 | -81.2% |
| Gross operating margin | 9900 | -€17,385 | -€17,941 | -€555 | -3.2% |
| Operating profit (loss) | 9901 | -€41,341 | -€18,724 | +€22,618 | +54.7% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €4,087 | €3,190 | -€896 | -21.9% |
| Recurring financial charges | 65 | €4,087 | €3,190 | -€896 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | -€45,424 | -€21,914 | +€23,510 | +51.8% |
| Income taxes | 67/77 | €73 | €0 | -€73 | -100.0% |
| Profit (loss) for the period | 9904 | -€45,497 | -€21,914 | +€23,583 | +51.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,497 | -€21,914 | +€23,583 | +51.8% |
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 8 October 2026 via checked.be.