RALUCO: 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.
RALUCO
Largest movements
- Receivables within one year -€81,295
down €81,295 (-45.3%), from €179,584 to €98,289
of which Trade receivables: -€82,235
- Tangible fixed assets -€63,233
down €63,233 (-20.1%), from €314,567 to €251,334
of which Plant, machinery and equipment: -€57,473
- Formation expenses +€15,790
up €15,790, from €0 to €15,790
- Stocks and contracts +€14,168
up €14,168 (+26.7%), from €53,094 to €67,262
- Debts after one year -€71,600
down €71,600 (-29.4%), from €243,579 to €171,979
of which Financial debts: -€71,600
- Reserves -€39,663
down €39,663 (-72.3%), from €54,836 to €15,173
of which Distributable reserves: -€39,663
- Tax, wage and social debts -€7,999
down €7,999 (-14.8%), from €54,062 to €46,063
of which Remuneration and social security: -€7,801
- Short-term financial debts -€5,975
down €5,975 (-26.6%), from €22,433 to €16,458
- Trade debts +€5,924
up €5,924 (+8.7%), from €68,468 to €74,392
- Gross operating margin -€66,514
down €66,514 (-21.9%), from €303,911 to €237,397
- Staff costs -€8,503
down €8,503 (-3.8%), from €222,983 to €214,480
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €579,110 | €461,225 | -€117,886 | -20.4% |
| Formation expenses | 20 | €0 | €15,790 | +€15,790 | |
| Fixed assets | 21/28 | €314,930 | €251,697 | -€63,233 | -20.1% |
| Tangible fixed assets | 22/27 | €314,567 | €251,334 | -€63,233 | -20.1% |
| Land and buildings | 22 | €14,297 | €13,276 | -€1,021 | -7.1% |
| Plant, machinery and equipment | 23 | €281,562 | €224,089 | -€57,473 | -20.4% |
| Other tangible fixed assets | 26 | €18,708 | €13,969 | -€4,739 | -25.3% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €264,181 | €193,738 | -€70,443 | -26.7% |
| Stocks and contracts in progress | 3 | €53,094 | €67,262 | +€14,168 | +26.7% |
| Stocks | 30/36 | €53,094 | €67,262 | +€14,168 | +26.7% |
| Amounts receivable within one year | 40/41 | €179,584 | €98,289 | -€81,295 | -45.3% |
| Trade receivables | 40 | €170,829 | €88,594 | -€82,235 | -48.1% |
| Other amounts receivable | 41 | €8,755 | €9,695 | +€940 | +10.7% |
| Cash at bank and in hand | 54/58 | €22,584 | €20,191 | -€2,393 | -10.6% |
| Deferred charges and accrued income | 490/1 | €8,919 | €7,996 | -€923 | -10.3% |
| Total equity and liabilities | 10/49 | €579,110 | €461,225 | -€117,886 | -20.4% |
| Equity | 10/15 | €104,836 | €65,173 | -€39,663 | -37.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €54,836 | €15,173 | -€39,663 | -72.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €54,836 | €15,173 | -€39,663 | -72.3% |
| Amounts payable | 17/49 | €474,274 | €396,051 | -€78,223 | -16.5% |
| Amounts payable after more than one year | 17 | €243,579 | €171,979 | -€71,600 | -29.4% |
| Financial debts | 170/4 | €243,579 | €171,979 | -€71,600 | -29.4% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €230,299 | €223,766 | -€6,533 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €75,285 | €76,753 | +€1,468 | +1.9% |
| Financial debts | 43 | €22,433 | €16,458 | -€5,975 | -26.6% |
| Credit institutions | 430/8 | €22,433 | €16,458 | -€5,975 | -26.6% |
| Trade debts | 44 | €68,468 | €74,392 | +€5,924 | +8.7% |
| Suppliers | 440/4 | €68,468 | €74,392 | +€5,924 | +8.7% |
| Taxes, remuneration and social security | 45 | €54,062 | €46,063 | -€7,999 | -14.8% |
| Taxes | 450/3 | €23,151 | €22,953 | -€198 | -0.9% |
| Remuneration and social security | 454/9 | €30,911 | €23,110 | -€7,801 | -25.2% |
| Other amounts payable | 47/48 | €10,050 | €10,100 | +€50 | +0.5% |
| Accrued charges and deferred income | 492/3 | €397 | €306 | -€90 | -22.7% |
| Remuneration, social security and pensions | 62 | €222,983 | €214,480 | -€8,503 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,962 | €73,356 | +€2,395 | +3.4% |
| Other operating charges | 640/8 | €499 | €513 | +€14 | +2.8% |
| Operating charges capitalised as restructuring costs | 649 | - | -€18,219 | -€18,219 | |
| Gross operating margin | 9900 | €303,911 | €237,397 | -€66,514 | -21.9% |
| Operating profit (loss) | 9901 | €9,467 | -€32,734 | -€42,201 | |
| Financial income | 75/76B | €21 | €28 | +€6 | +30.3% |
| Recurring financial income | 75 | €21 | €28 | +€6 | +30.3% |
| Financial charges | 65/66B | €8,387 | €6,957 | -€1,430 | -17.1% |
| Recurring financial charges | 65 | €8,387 | €6,957 | -€1,430 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €1,101 | -€39,663 | -€40,765 | |
| Profit (loss) for the period | 9904 | €1,101 | -€39,663 | -€40,765 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,101 | -€39,663 | -€40,765 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.