RAPHMAEL: 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.
RAPHMAEL
Largest movements
- Receivables within one year -€5,013
no longer reported in 2025 (was €5,013)
of which Trade receivables: -€4,825
- Cash -€284
down €284 (-58.4%), from €485 to €202
mainly Trade debts (-€14,528)
- Trade debts -€14,528
down €14,528 (-71.6%), from €20,277 to €5,749
- Profit (loss) carried forward +€5,750
up €5,750 (+11.4%), from -€50,282 to -€44,531
- Other debts +€2,039
up €2,039 (+7.3%), from €27,762 to €29,801
- Tax, wage and social debts +€1,433
up €1,433 (+124.7%), from €1,150 to €2,583
- Gross operating margin +€514
up €514 (+9.1%), from €5,625 to €6,140
- Financial charges +€137
up €137 (+83.9%), from €164 to €301
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 | €17,507 | €12,202 | -€5,305 | -30.3% |
| Fixed assets | 21/28 | €12,000 | €12,000 | = | 0.0% |
| Intangible fixed assets | 21 | €12,000 | €12,000 | = | 0.0% |
| Current assets | 29/58 | €5,507 | €202 | -€5,305 | -96.3% |
| Amounts receivable within one year | 40/41 | €5,013 | - | -€5,013 | |
| Trade receivables | 40 | €4,825 | - | -€4,825 | |
| Other amounts receivable | 41 | €188 | - | -€188 | |
| Cash at bank and in hand | 54/58 | €485 | €202 | -€284 | -58.4% |
| Deferred charges and accrued income | 490/1 | €8 | - | -€8 | |
| Total equity and liabilities | 10/49 | €17,507 | €12,202 | -€5,305 | -30.3% |
| Equity | 10/15 | -€31,682 | -€25,931 | +€5,750 | +18.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,282 | -€44,531 | +€5,750 | +11.4% |
| Amounts payable | 17/49 | €49,189 | €38,133 | -€11,056 | -22.5% |
| Amounts payable within one year | 42/48 | €49,189 | €38,133 | -€11,056 | -22.5% |
| Trade debts | 44 | €20,277 | €5,749 | -€14,528 | -71.6% |
| Suppliers | 440/4 | €20,277 | €5,749 | -€14,528 | -71.6% |
| Taxes, remuneration and social security | 45 | €1,150 | €2,583 | +€1,433 | +124.7% |
| Taxes | 450/3 | €1,150 | €2,583 | +€1,433 | +124.7% |
| Other amounts payable | 47/48 | €27,762 | €29,801 | +€2,039 | +7.3% |
| Other operating charges | 640/8 | €62 | €89 | +€27 | +43.1% |
| Gross operating margin | 9900 | €5,625 | €6,140 | +€514 | +9.1% |
| Operating profit (loss) | 9901 | €5,563 | €6,051 | +€487 | +8.8% |
| Financial charges | 65/66B | €164 | €301 | +€137 | +83.9% |
| Recurring financial charges | 65 | €164 | €301 | +€137 | +83.9% |
| Profit (loss) for the period before taxes | 9903 | €5,400 | €5,750 | +€350 | +6.5% |
| Profit (loss) for the period | 9904 | €5,400 | €5,750 | +€350 | +6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,400 | €5,750 | +€350 | +6.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.