RAPETTI: 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.
RAPETTI
Largest movements
- Receivables within one year +€33,966
up €33,966 (+222.0%), from €15,299 to €49,264
of which Other amounts receivable: +€17,629
- Cash +€15,801
up €15,801 (+45.1%), from €35,010 to €50,811
mainly Net result for the year (+€26,753) and Trade debts (+€16,581)
- Tangible fixed assets -€15,432
down €15,432 (-48.1%), from €32,087 to €16,655
of which Furniture and vehicles: -€13,015
- Reserves +€26,753
up €26,753 (+53.2%), from €50,320 to €77,073
- Trade debts +€16,581
new in 2025: €16,581
- Debts after one year -€6,618
down €6,618 (-49.5%), from €13,375 to €6,756
- Tax, wage and social debts -€2,263
down €2,263 (-87.9%), from €2,574 to €311
- Purchases and services +€86,272
up €86,272 (+63.0%), from €136,885 to €223,157
- Gross operating margin -€16,674
down €16,674 (-25.6%), from €65,172 to €48,498
- Depreciation +€1,730
up €1,730 (+15.7%), from €10,989 to €12,719
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 | €83,654 | €117,340 | +€33,686 | +40.3% |
| Fixed assets | 21/28 | €32,087 | €16,655 | -€15,432 | -48.1% |
| Tangible fixed assets | 22/27 | €32,087 | €16,655 | -€15,432 | -48.1% |
| Plant, machinery and equipment | 23 | €6,519 | €4,102 | -€2,417 | -37.1% |
| Furniture and vehicles | 24 | €25,568 | €12,553 | -€13,015 | -50.9% |
| Current assets | 29/58 | €51,567 | €100,685 | +€49,118 | +95.2% |
| Amounts receivable within one year | 40/41 | €15,299 | €49,264 | +€33,966 | +222.0% |
| Trade receivables | 40 | €2,880 | €19,217 | +€16,336 | +567.2% |
| Other amounts receivable | 41 | €12,418 | €30,048 | +€17,629 | +142.0% |
| Cash at bank and in hand | 54/58 | €35,010 | €50,811 | +€15,801 | +45.1% |
| Deferred charges and accrued income | 490/1 | €1,259 | €610 | -€649 | -51.6% |
| Total equity and liabilities | 10/49 | €83,654 | €117,340 | +€33,686 | +40.3% |
| Equity | 10/15 | €60,320 | €87,073 | +€26,753 | +44.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | €10,000 | €10,000 | = | 0.0% |
| Issued capital | 100 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €50,320 | €77,073 | +€26,753 | +53.2% |
| Distributable reserves | 133 | €50,320 | €77,073 | +€26,753 | +53.2% |
| Amounts payable | 17/49 | €23,334 | €30,267 | +€6,933 | +29.7% |
| Amounts payable after more than one year | 17 | €13,375 | €6,756 | -€6,618 | -49.5% |
| Financial debts | 170/4 | €13,375 | €6,756 | -€6,618 | -49.5% |
| Amounts payable within one year | 42/48 | €9,959 | €23,510 | +€13,551 | +136.1% |
| Current portion of amounts payable after more than one year | 42 | €6,310 | €6,618 | +€308 | +4.9% |
| Trade debts | 44 | - | €16,581 | +€16,581 | |
| Suppliers | 440/4 | - | €16,581 | +€16,581 | |
| Taxes, remuneration and social security | 45 | €2,574 | €311 | -€2,263 | -87.9% |
| Remuneration and social security | 454/9 | €2,574 | €311 | -€2,263 | -87.9% |
| Other amounts payable | 47/48 | €1,075 | - | -€1,075 | |
| Goods, raw materials, services and sundry goods | 60/61 | €136,885 | €223,157 | +€86,272 | +63.0% |
| Remuneration, social security and pensions | 62 | €4,213 | €4,595 | +€382 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,989 | €12,719 | +€1,730 | +15.7% |
| Other operating charges | 640/8 | €949 | €547 | -€402 | -42.4% |
| Non-recurring operating charges | 66A | - | €2,978 | +€2,978 | |
| Gross operating margin | 9900 | €65,172 | €48,498 | -€16,674 | -25.6% |
| Operating profit (loss) | 9901 | €49,021 | €27,659 | -€21,362 | -43.6% |
| Financial income | 75/76B | €0 | €4 | +€4 | +7020.0% |
| Recurring financial income | 75 | €0 | €4 | +€4 | +7020.0% |
| Financial charges | 65/66B | €1,097 | €910 | -€187 | -17.0% |
| Recurring financial charges | 65 | €1,097 | €910 | -€187 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €47,925 | €26,753 | -€21,172 | -44.2% |
| Income taxes | 67/77 | €599 | - | -€599 | |
| Profit (loss) for the period | 9904 | €47,326 | €26,753 | -€20,573 | -43.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,326 | €26,753 | -€20,573 | -43.5% |
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 30 September 2026 via checked.be.