Raphaette: 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.
Raphaette
Largest movements
- Tangible fixed assets -€7,033
down €7,033 (-2.3%), from €311,179 to €304,146
- Cash +€4,523
up €4,523 (+112%), from €4,023 to €8,546
mainly Net result for the year (+€13,029) and Depreciation (+€7,033)
- Debts after one year -€13,193
down €13,193 (-8.2%), from €161,548 to €148,356
- Reserves +€13,029
up €13,029 (+161%), from €8,105 to €21,134
- Other debts -€9,462
down €9,462 (-7.8%), from €121,706 to €112,245
- Trade debts +€3,592
up €3,592 (+95.9%), from €3,747 to €7,339
- Tax, wage and social debts +€3,457
up €3,457 (+53.2%), from €6,503 to €9,961
- Gross operating margin +€17,234
up €17,234 (+113%), from €15,271 to €32,505
- Taxes +€3,921
up €3,921 (+458%), from €856 to €4,777
- Other operating charges +€2,566
up €2,566 (+184%), from €1,396 to €3,962
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 | €315,570 | €313,227 | -€2,343 | -0.7% |
| Fixed assets | 21/28 | €311,179 | €304,146 | -€7,033 | -2.3% |
| Tangible fixed assets | 22/27 | €311,179 | €304,146 | -€7,033 | -2.3% |
| Land and buildings | 22 | €311,179 | €304,146 | -€7,033 | -2.3% |
| Current assets | 29/58 | €4,391 | €9,081 | +€4,690 | +107% |
| Amounts receivable within one year | 40/41 | €226 | €56 | -€170 | -75.2% |
| Trade receivables | 40 | €226 | €56 | -€170 | -75.2% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €4,023 | €8,546 | +€4,523 | +112% |
| Deferred charges and accrued income | 490/1 | €142 | €479 | +€337 | +237% |
| Total equity and liabilities | 10/49 | €315,570 | €313,227 | -€2,343 | -0.7% |
| Equity | 10/15 | €9,105 | €22,134 | +€13,029 | +143% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €8,105 | €21,134 | +€13,029 | +161% |
| Distributable reserves | 133 | €8,105 | €21,134 | +€13,029 | +161% |
| Amounts payable | 17/49 | €306,465 | €291,093 | -€15,372 | -5.0% |
| Amounts payable after more than one year | 17 | €161,548 | €148,356 | -€13,193 | -8.2% |
| Financial debts | 170/4 | €161,548 | €148,356 | -€13,193 | -8.2% |
| Amounts payable within one year | 42/48 | €144,916 | €142,737 | -€2,179 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €12,960 | €13,193 | +€233 | +1.8% |
| Trade debts | 44 | €3,747 | €7,339 | +€3,592 | +95.9% |
| Suppliers | 440/4 | €3,747 | €7,339 | +€3,592 | +95.9% |
| Taxes, remuneration and social security | 45 | €6,503 | €9,961 | +€3,457 | +53.2% |
| Taxes | 450/3 | €6,503 | €9,961 | +€3,457 | +53.2% |
| Other amounts payable | 47/48 | €121,706 | €112,245 | -€9,462 | -7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,033 | €7,033 | = | 0.0% |
| Other operating charges | 640/8 | €1,396 | €3,962 | +€2,566 | +184% |
| Gross operating margin | 9900 | €15,271 | €32,505 | +€17,234 | +113% |
| Operating profit (loss) | 9901 | €6,842 | €21,511 | +€14,669 | +214% |
| Financial income | 75/76B | - | €40 | +€40 | |
| Recurring financial income | 75 | - | €40 | +€40 | |
| Financial charges | 65/66B | €3,488 | €3,745 | +€257 | +7.4% |
| Recurring financial charges | 65 | €3,488 | €3,745 | +€257 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €3,355 | €17,806 | +€14,452 | +431% |
| Income taxes | 67/77 | €856 | €4,777 | +€3,921 | +458% |
| Profit (loss) for the period | 9904 | €2,499 | €13,029 | +€10,530 | +421% |
| Profit (loss) for the period to be appropriated | 9905 | €2,499 | €13,029 | +€10,530 | +421% |
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 17 October 2026 via checked.be.