RAPSODY: 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.
RAPSODY
Largest movements
- Financial fixed assets -€2.0m
no longer reported in 2024 (was €2.0m)
- Receivables within one year +€323,454
new in 2024: €323,454
- Cash -€27,733
down €27,733 (-91.3%), from €30,368 to €2,635
mainly Debts after one year (-€1.5m) and Receivables within one year (-€323,454)
- Debts after one year -€1.5m
no longer reported in 2024 (was €1.5m)
of which Other amounts payable: -€1.3m
- Profit (loss) carried forward +€328,771
up €328,771 (+75.8%), from -€433,755 to -€104,984
- Reserves -€286,535
down €286,535 (-47.6%), from €602,285 to €315,750
- Provisions -€200,762
no longer reported in 2024 (was €200,762)
- Other debts -€83,402
down €83,402 (-67.6%), from €123,402 to €40,000
- Taxes +€93,639
new in 2024: €93,639
- Financial charges -€5,543
down €5,543 (-6.6%), from €83,705 to €78,162
- Financial income +€2,210
new in 2024: €2,210
- Gross operating margin +€1,627
up €1,627 (+15.4%), from €10,588 to €12,215
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,033,974 | €331,405 | -€1.7m | -83.7% |
| Fixed assets | 21/28 | €2,003,285 | €3,101 | -€2.0m | -99.8% |
| Tangible fixed assets | 22/27 | €3,285 | €3,101 | -€183 | -5.6% |
| Land and buildings | 22 | €3,285 | €3,101 | -€183 | -5.6% |
| Financial fixed assets | 28 | €2,000,000 | - | -€2.0m | |
| Current assets | 29/58 | €30,689 | €328,303 | +€297,614 | +969.8% |
| Amounts receivable within one year | 40/41 | - | €323,454 | +€323,454 | |
| Other amounts receivable | 41 | - | €323,454 | +€323,454 | |
| Cash at bank and in hand | 54/58 | €30,368 | €2,635 | -€27,733 | -91.3% |
| Deferred charges and accrued income | 490/1 | €321 | €2,214 | +€1,893 | +589.8% |
| Total equity and liabilities | 10/49 | €2,033,974 | €331,405 | -€1.7m | -83.7% |
| Equity | 10/15 | €230,531 | €272,766 | +€42,236 | +18.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €602,285 | €315,750 | -€286,535 | -47.6% |
| Tax-exempt reserves | 132 | €602,285 | €315,750 | -€286,535 | -47.6% |
| Profit (loss) carried forward | 14 | -€433,755 | -€104,984 | +€328,771 | +75.8% |
| Provisions and deferred taxes | 16 | €200,762 | - | -€200,762 | |
| Deferred taxes | 168 | €200,762 | - | -€200,762 | |
| Amounts payable | 17/49 | €1,602,682 | €58,639 | -€1.5m | -96.3% |
| Amounts payable after more than one year | 17 | €1,477,965 | - | -€1.5m | |
| Financial debts | 170/4 | €200,000 | - | -€200,000 | |
| Other amounts payable | 178/9 | €1,277,965 | - | -€1.3m | |
| Amounts payable within one year | 42/48 | €124,717 | €58,639 | -€66,079 | -53.0% |
| Trade debts | 44 | €1,315 | - | -€1,315 | |
| Suppliers | 440/4 | €1,315 | - | -€1,315 | |
| Taxes, remuneration and social security | 45 | - | €18,639 | +€18,639 | |
| Taxes | 450/3 | - | €18,639 | +€18,639 | |
| Other amounts payable | 47/48 | €123,402 | €40,000 | -€83,402 | -67.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €183 | €183 | = | 0.0% |
| Other operating charges | 640/8 | €972 | €968 | -€4 | -0.4% |
| Gross operating margin | 9900 | €10,588 | €12,215 | +€1,627 | +15.4% |
| Operating profit (loss) | 9901 | €9,432 | €11,064 | +€1,631 | +17.3% |
| Financial income | 75/76B | - | €2,210 | +€2,210 | |
| Recurring financial income | 75 | - | €2,210 | +€2,210 | |
| Financial charges | 65/66B | €83,705 | €78,162 | -€5,543 | -6.6% |
| Recurring financial charges | 65 | €83,705 | €78,162 | -€5,543 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | -€74,273 | -€64,888 | +€9,385 | +12.6% |
| Transfer from deferred taxes | 780 | - | €200,762 | +€200,762 | |
| Income taxes | 67/77 | - | €93,639 | +€93,639 | |
| Profit (loss) for the period | 9904 | -€74,273 | €42,236 | +€116,508 | |
| Transfer from tax-exempt reserves | 789 | - | €602,285 | +€602,285 | |
| Transfer to tax-exempt reserves | 689 | - | €315,750 | +€315,750 | |
| Profit (loss) for the period to be appropriated | 9905 | -€74,273 | €328,771 | +€403,044 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.