RAPHAELLE 2023: 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.
RAPHAELLE 2023
Largest movements
- Tangible fixed assets -€2,905
down €2,905 (-21.4%), from €13,563 to €10,659
of which Plant, machinery and equipment: -€1,852
- Cash -€1,223
down €1,223 (-15.0%), from €8,148 to €6,924
mainly Debts after one year (-€5,144) and Net result for the year (-€5,019)
- Stocks and contracts -€571
down €571 (-21.0%), from €2,711 to €2,141
- Debts after one year -€5,144
down €5,144 (-38.1%), from €13,518 to €8,374
- Profit (loss) carried forward -€5,019
down €5,019 (-16.5%), from -€30,371 to -€35,390
- Tax, wage and social debts +€1,882
up €1,882 (+32.7%), from €5,757 to €7,639
of which Taxes: +€1,683
- Other debts +€1,817
up €1,817 (+8.5%), from €21,435 to €23,252
- Trade debts +€1,243
up €1,243 (+16.5%), from €7,513 to €8,756
- Gross operating margin +€24,723
up €24,723, from -€8,019 to €16,704
- Staff costs +€9,323
up €9,323 (+225.9%), from €4,126 to €13,449
- Financial income -€1,591
down €1,591 (-100.0%), from €1,591 to €0
- Financial charges +€1,273
up €1,273 (+69.5%), from €1,832 to €3,106
- Other operating charges +€1,235
up €1,235, from €0 to €1,235
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 | €24,422 | €19,910 | -€4,513 | -18.5% |
| Fixed assets | 21/28 | €13,563 | €10,659 | -€2,905 | -21.4% |
| Tangible fixed assets | 22/27 | €13,563 | €10,659 | -€2,905 | -21.4% |
| Plant, machinery and equipment | 23 | €9,879 | €8,027 | -€1,852 | -18.7% |
| Furniture and vehicles | 24 | €3,684 | €2,632 | -€1,053 | -28.6% |
| Current assets | 29/58 | €10,859 | €9,251 | -€1,608 | -14.8% |
| Stocks and contracts in progress | 3 | €2,711 | €2,141 | -€571 | -21.0% |
| Stocks | 30/36 | €2,711 | €2,141 | -€571 | -21.0% |
| Cash at bank and in hand | 54/58 | €8,148 | €6,924 | -€1,223 | -15.0% |
| Deferred charges and accrued income | 490/1 | - | €186 | +€186 | |
| Total equity and liabilities | 10/49 | €24,422 | €19,910 | -€4,513 | -18.5% |
| Equity | 10/15 | -€28,371 | -€33,390 | -€5,019 | -17.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,371 | -€35,390 | -€5,019 | -16.5% |
| Amounts payable | 17/49 | €52,794 | €53,300 | +€507 | +1.0% |
| Amounts payable after more than one year | 17 | €13,518 | €8,374 | -€5,144 | -38.1% |
| Financial debts | 170/4 | €13,518 | €8,374 | -€5,144 | -38.1% |
| Amounts payable within one year | 42/48 | €39,275 | €44,926 | +€5,651 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €4,571 | €5,144 | +€573 | +12.5% |
| Financial debts | 43 | - | €136 | +€136 | |
| Credit institutions | 430/8 | - | €136 | +€136 | |
| Trade debts | 44 | €7,513 | €8,756 | +€1,243 | +16.5% |
| Suppliers | 440/4 | €7,513 | €8,756 | +€1,243 | +16.5% |
| Taxes, remuneration and social security | 45 | €5,757 | €7,639 | +€1,882 | +32.7% |
| Taxes | 450/3 | €4,157 | €5,840 | +€1,683 | +40.5% |
| Remuneration and social security | 454/9 | €1,599 | €1,798 | +€199 | +12.5% |
| Other amounts payable | 47/48 | €21,435 | €23,252 | +€1,817 | +8.5% |
| Remuneration, social security and pensions | 62 | €4,126 | €13,449 | +€9,323 | +225.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,721 | €3,934 | +€213 | +5.7% |
| Other operating charges | 640/8 | €0 | €1,235 | +€1,235 | |
| Gross operating margin | 9900 | -€8,019 | €16,704 | +€24,723 | |
| Operating profit (loss) | 9901 | -€15,867 | -€1,914 | +€13,953 | +87.9% |
| Financial income | 75/76B | €1,591 | €0 | -€1,591 | -100.0% |
| Recurring financial income | 75 | €1,591 | €0 | -€1,591 | -100.0% |
| Financial charges | 65/66B | €1,832 | €3,106 | +€1,273 | +69.5% |
| Recurring financial charges | 65 | €1,832 | €3,106 | +€1,273 | +69.5% |
| Profit (loss) for the period before taxes | 9903 | -€16,108 | -€5,019 | +€11,089 | +68.8% |
| Profit (loss) for the period | 9904 | -€16,108 | -€5,019 | +€11,089 | +68.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,108 | -€5,019 | +€11,089 | +68.8% |
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 2 October 2026 via checked.be.