Raluc: 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.
Raluc
Largest movements
- Current investments +€100,279
up €100,279 (+90.4%), from €110,952 to €211,231
- Cash -€45,946
down €45,946 (-38.7%), from €118,720 to €72,775
mainly Current investments (-€100,279) and Receivables within one year (-€1,906)
- Reserves +€34,071
up €34,071 (+1352.8%), from €2,519 to €36,589
of which Distributable reserves: +€32,367
- Profit (loss) carried forward +€18,826
no longer reported in 2025 (was -€18,826)
- Taxes +€13,700
new in 2025: €13,700
- Depreciation -€4,828
down €4,828 (-59.3%), from €8,147 to €3,318
- Financial income +€1,846
up €1,846 (+548.7%), from €337 to €2,183
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 | €613,693 | €666,589 | +€52,896 | +8.6% |
| Fixed assets | 21/28 | €383,846 | €380,528 | -€3,318 | -0.9% |
| Tangible fixed assets | 22/27 | €383,846 | €380,528 | -€3,318 | -0.9% |
| Land and buildings | 22 | €383,846 | €380,528 | -€3,318 | -0.9% |
| Current assets | 29/58 | €229,846 | €286,061 | +€56,215 | +24.5% |
| Amounts receivable within one year | 40/41 | €150 | €2,056 | +€1,906 | +1269.4% |
| Other amounts receivable | 41 | €150 | €2,056 | +€1,906 | +1269.4% |
| Current investments | 50/53 | €110,952 | €211,231 | +€100,279 | +90.4% |
| Cash at bank and in hand | 54/58 | €118,720 | €72,775 | -€45,946 | -38.7% |
| Deferred charges and accrued income | 490/1 | €24 | - | -€24 | |
| Total equity and liabilities | 10/49 | €613,693 | €666,589 | +€52,896 | +8.6% |
| Equity | 10/15 | €613,693 | €666,589 | +€52,896 | +8.6% |
| Contributions | 10/11 | €630,000 | €630,000 | = | 0.0% |
| Capital | 10 | €630,000 | €630,000 | = | 0.0% |
| Issued capital | 100 | €630,000 | €630,000 | = | 0.0% |
| Reserves | 13 | €2,519 | €36,589 | +€34,071 | +1352.8% |
| Non-distributable reserves | 130/1 | €2,519 | €4,222 | +€1,704 | +67.6% |
| Legal reserve | 130 | €2,519 | €4,222 | +€1,704 | +67.6% |
| Distributable reserves | 133 | - | €32,367 | +€32,367 | |
| Profit (loss) carried forward | 14 | -€18,826 | - | +€18,826 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,147 | €3,318 | -€4,828 | -59.3% |
| Other operating charges | 640/8 | €14,758 | €15,219 | +€461 | +3.1% |
| Gross operating margin | 9900 | €83,528 | €83,215 | -€313 | -0.4% |
| Operating profit (loss) | 9901 | €60,624 | €64,678 | +€4,054 | +6.7% |
| Financial income | 75/76B | €337 | €2,183 | +€1,846 | +548.7% |
| Recurring financial income | 75 | €337 | €2,183 | +€1,846 | +548.7% |
| Financial charges | 65/66B | €518 | €265 | -€253 | -48.9% |
| Recurring financial charges | 65 | €518 | €265 | -€253 | -48.9% |
| Profit (loss) for the period before taxes | 9903 | €60,443 | €66,596 | +€6,154 | +10.2% |
| Income taxes | 67/77 | - | €13,700 | +€13,700 | |
| Profit (loss) for the period | 9904 | €60,443 | €52,896 | -€7,546 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €60,443 | €52,896 | -€7,546 | -12.5% |
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 29 September 2026 via checked.be.