RAOS: 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.
RAOS
Largest movements
- Receivables within one year +€20,076
up €20,076 (+94.7%), from €21,190 to €41,266
of which Other amounts receivable: +€23,643
- Cash -€15,343
down €15,343 (-20.0%), from €76,690 to €61,347
mainly Contributions, distributions and other (-€53,638) and Receivables within one year (-€20,076)
- Tangible fixed assets -€13,310
down €13,310 (-20.0%), from €66,486 to €53,176
of which Furniture and vehicles: -€12,743
- Other debts +€28,638
up €28,638 (+56.0%), from €51,121 to €79,759
- Reserves -€22,405
down €22,405 (-47.5%), from €47,173 to €24,767
- Debts after one year -€10,752
down €10,752 (-27.1%), from €39,695 to €28,943
- Tax, wage and social debts -€7,505
down €7,505 (-100.0%), from €7,505 to €0
- Trade debts +€4,015
up €4,015, from €0 to €4,015
- Gross operating margin -€18,737
down €18,737 (-23.4%), from €80,084 to €61,347
- Taxes -€9,137
down €9,137 (-50.3%), from €18,163 to €9,027
- Depreciation +€6,140
up €6,140 (+60.0%), from €10,227 to €16,367
- Financial charges +€2,466
up €2,466 (+174.7%), from €1,411 to €3,877
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 | €166,053 | €158,662 | -€7,390 | -4.5% |
| Fixed assets | 21/28 | €66,486 | €53,591 | -€12,895 | -19.4% |
| Tangible fixed assets | 22/27 | €66,486 | €53,176 | -€13,310 | -20.0% |
| Furniture and vehicles | 24 | €63,139 | €50,396 | -€12,743 | -20.2% |
| Other tangible fixed assets | 26 | €3,346 | €2,779 | -€567 | -17.0% |
| Financial fixed assets | 28 | - | €415 | +€415 | |
| Current assets | 29/58 | €99,567 | €105,072 | +€5,505 | +5.5% |
| Amounts receivable within one year | 40/41 | €21,190 | €41,266 | +€20,076 | +94.7% |
| Trade receivables | 40 | €21,032 | €17,465 | -€3,567 | -17.0% |
| Other amounts receivable | 41 | €158 | €23,801 | +€23,643 | +14977.1% |
| Cash at bank and in hand | 54/58 | €76,690 | €61,347 | -€15,343 | -20.0% |
| Deferred charges and accrued income | 490/1 | €1,688 | €2,459 | +€772 | +45.7% |
| Total equity and liabilities | 10/49 | €166,053 | €158,662 | -€7,390 | -4.5% |
| Equity | 10/15 | €57,403 | €34,997 | -€22,405 | -39.0% |
| Contributions | 10/11 | €10,230 | €10,230 | = | 0.0% |
| Reserves | 13 | €47,173 | €24,767 | -€22,405 | -47.5% |
| Distributable reserves | 133 | €47,173 | €24,767 | -€22,405 | -47.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €108,650 | €123,665 | +€15,015 | +13.8% |
| Amounts payable after more than one year | 17 | €39,695 | €28,943 | -€10,752 | -27.1% |
| Financial debts | 170/4 | €39,695 | €28,943 | -€10,752 | -27.1% |
| Amounts payable within one year | 42/48 | €68,955 | €94,722 | +€25,767 | +37.4% |
| Current portion of amounts payable after more than one year | 42 | €10,310 | €10,752 | +€442 | +4.3% |
| Financial debts | 43 | €18 | €196 | +€178 | +965.1% |
| Credit institutions | 430/8 | - | €196 | +€196 | |
| Other loans | 439 | €18 | €0 | -€18 | -100.0% |
| Trade debts | 44 | €0 | €4,015 | +€4,015 | |
| Suppliers | 440/4 | €0 | €4,015 | +€4,015 | |
| Taxes, remuneration and social security | 45 | €7,505 | €0 | -€7,505 | -100.0% |
| Taxes | 450/3 | €7,505 | €0 | -€7,505 | -100.0% |
| Other amounts payable | 47/48 | €51,121 | €79,759 | +€28,638 | +56.0% |
| Non-recurring operating income | 76A | €23,982 | €0 | -€23,982 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,227 | €16,367 | +€6,140 | +60.0% |
| Other operating charges | 640/8 | €741 | €843 | +€102 | +13.7% |
| Gross operating margin | 9900 | €80,084 | €61,347 | -€18,737 | -23.4% |
| Operating profit (loss) | 9901 | €69,116 | €44,137 | -€24,980 | -36.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €1,411 | €3,877 | +€2,466 | +174.7% |
| Recurring financial charges | 65 | €1,411 | €3,877 | +€2,466 | +174.7% |
| Profit (loss) for the period before taxes | 9903 | €67,705 | €40,260 | -€27,445 | -40.5% |
| Income taxes | 67/77 | €18,163 | €9,027 | -€9,137 | -50.3% |
| Profit (loss) for the period | 9904 | €49,542 | €31,233 | -€18,309 | -37.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,542 | €31,233 | -€18,309 | -37.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.