Raoul: 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.
Raoul
Largest movements
- Receivables after one year +€160,000
new in 2025: €160,000
- Receivables within one year -€54,744
down €54,744 (-79.0%), from €69,339 to €14,595
of which Other amounts receivable: -€40,000
- Cash -€13,235
down €13,235 (-83.0%), from €15,946 to €2,711
mainly Receivables after one year (-€160,000) and Deferred charges and accrued income (-€2,618)
- Deferred charges and accrued income +€2,618
up €2,618 (+1,496%), from €175 to €2,793
- Profit (loss) carried forward +€75,663
up €75,663 (+132%), from €57,196 to €132,859
- Tax, wage and social debts +€18,825
up €18,825 (+77.2%), from €24,389 to €43,214
of which Taxes: +€18,825
- Gross operating margin +€19,597
up €19,597 (+27.0%), from €72,523 to €92,120
- Taxes +€4,609
up €4,609 (+32.2%), from €14,307 to €18,916
- Financial income +€2,443
up €2,443 (+1,396%), from €175 to €2,618
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 | €85,460 | €180,099 | +€94,639 | +111% |
| Current assets | 29/58 | €85,460 | €180,099 | +€94,639 | +111% |
| Amounts receivable after more than one year | 29 | - | €160,000 | +€160,000 | |
| Other amounts receivable | 291 | - | €160,000 | +€160,000 | |
| Amounts receivable within one year | 40/41 | €69,339 | €14,595 | -€54,744 | -79.0% |
| Trade receivables | 40 | €29,264 | €14,520 | -€14,744 | -50.4% |
| Other amounts receivable | 41 | €40,075 | €75 | -€40,000 | -99.8% |
| Cash at bank and in hand | 54/58 | €15,946 | €2,711 | -€13,235 | -83.0% |
| Deferred charges and accrued income | 490/1 | €175 | €2,793 | +€2,618 | +1,496% |
| Total equity and liabilities | 10/49 | €85,460 | €180,099 | +€94,639 | +111% |
| Equity | 10/15 | €60,196 | €135,859 | +€75,663 | +126% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,196 | €132,859 | +€75,663 | +132% |
| Amounts payable | 17/49 | €25,264 | €44,240 | +€18,976 | +75.1% |
| Amounts payable within one year | 42/48 | €25,264 | €44,240 | +€18,976 | +75.1% |
| Trade debts | 44 | €875 | €1,026 | +€151 | +17.3% |
| Suppliers | 440/4 | €875 | €1,026 | +€151 | +17.3% |
| Taxes, remuneration and social security | 45 | €24,389 | €43,214 | +€18,825 | +77.2% |
| Taxes | 450/3 | €21,689 | €40,514 | +€18,825 | +86.8% |
| Remuneration and social security | 454/9 | €2,700 | €2,700 | = | 0.0% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €72,523 | €92,120 | +€19,597 | +27.0% |
| Operating profit (loss) | 9901 | €72,397 | €91,992 | +€19,595 | +27.1% |
| Financial income | 75/76B | €175 | €2,618 | +€2,443 | +1,396% |
| Recurring financial income | 75 | €175 | €2,618 | +€2,443 | +1,396% |
| Financial charges | 65/66B | €86 | €31 | -€55 | -63.8% |
| Recurring financial charges | 65 | €86 | €31 | -€55 | -63.8% |
| Profit (loss) for the period before taxes | 9903 | €72,485 | €94,578 | +€22,093 | +30.5% |
| Income taxes | 67/77 | €14,307 | €18,916 | +€4,609 | +32.2% |
| Profit (loss) for the period | 9904 | €58,179 | €75,663 | +€17,484 | +30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €58,179 | €75,663 | +€17,484 | +30.1% |
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 14 October 2026 via checked.be.