RAS: 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.
What changed
RAS
NACE 46.500, Wholesale of information and communication equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€50,658
2024 · €82,450-€31,792
Equity
€2.6m
2024 · €2.6m+€50,658
Cash
€721,336
2024 · €282,306+€439,030
Balance sheet total
€4.5m
2024 · €4.4m+€63,101
Largest movements
Assets
- Cash +€439,030
up €439,030 (+155.5%), from €282,306 to €721,336
mainly Receivables within one year (+€217,613) and Deferred charges and accrued income (+€69,549)
- Receivables within one year -€217,613
down €217,613 (-13.7%), from €1.6m to €1.4m
of which Trade receivables: -€166,595
- Deferred charges and accrued income -€69,549
down €69,549 (-52.5%), from €132,485 to €62,936
- Stocks and contracts -€53,599
down €53,599 (-2.5%), from €2.2m to €2.1m
Equity and liabilities
- Profit (loss) carried forward +€50,658
up €50,658 (+4.3%), from €1.2m to €1.2m
Income statement
- Write-downs -€95,821
down €95,821, from €66,386 to -€29,435
- Gross operating margin -€76,179
down €76,179 (-2.7%), from €2.8m to €2.8m
- Staff costs +€42,404
up €42,404 (+1.7%), from €2.6m to €2.6m
- Taxes +€41,638
up €41,638 (+448.5%), from €9,284 to €50,923
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.
Result 2024
€82,450
Gross operating margin
-€76,179
Staff costs
-€42,404
Depreciation
+€1,778
Write-downs
+€95,821
Provisions
-€132
Other operating charges
+€5,675
Financial income
+€16,554
Financial charges
+€8,734
Taxes
-€41,638
Result 2025
€50,658
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.
From operations
+€461,744
Investment
-€22,714
Financing
€0
Cash 2024
€282,306
From operations (derived)
+€461,744
Net result for the year
+€50,658
Depreciation
+€57,882
Stocks and contracts
+€53,599
Receivables within one year
+€217,613
Deferred charges and accrued income
+€69,549
Provisions
-€1,946
Trade debts
+€27,024
Tax, wage and social debts
-€12,635
Investment (derived)
-€22,714
Investment in fixed assets (net)
-€22,714
Cash 2025
€721,336
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,440,722 | €4,503,823 | +€63,101 | +1.4% |
| Fixed assets | 21/28 | €265,504 | €230,337 | -€35,167 | -13.2% |
| Intangible fixed assets | 21 | €151,667 | €116,667 | -€35,000 | -23.1% |
| Tangible fixed assets | 22/27 | €50,237 | €50,014 | -€223 | -0.4% |
| Plant, machinery and equipment | 23 | €942 | €0 | -€942 | -100.0% |
| Furniture and vehicles | 24 | €49,295 | €44,552 | -€4,743 | -9.6% |
| Other tangible fixed assets | 26 | €0 | €5,462 | +€5,462 | |
| Financial fixed assets | 28 | €63,601 | €63,656 | +€55 | +0.1% |
| Current assets | 29/58 | €4,175,218 | €4,273,486 | +€98,269 | +2.4% |
| Stocks and contracts in progress | 3 | €2,177,476 | €2,123,877 | -€53,599 | -2.5% |
| Stocks | 30/36 | €2,177,476 | €2,123,877 | -€53,599 | -2.5% |
| Amounts receivable within one year | 40/41 | €1,582,950 | €1,365,337 | -€217,613 | -13.7% |
| Trade receivables | 40 | €1,501,902 | €1,335,307 | -€166,595 | -11.1% |
| Other amounts receivable | 41 | €81,048 | €30,030 | -€51,018 | -62.9% |
| Cash at bank and in hand | 54/58 | €282,306 | €721,336 | +€439,030 | +155.5% |
| Deferred charges and accrued income | 490/1 | €132,485 | €62,936 | -€69,549 | -52.5% |
| Total equity and liabilities | 10/49 | €4,440,722 | €4,503,823 | +€63,101 | +1.4% |
| Equity | 10/15 | €2,571,632 | €2,622,290 | +€50,658 | +2.0% |
| Contributions | 10/11 | €216,000 | €216,000 | = | 0.0% |
| Reserves | 13 | €1,171,917 | €1,171,917 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,165,717 | €1,165,717 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,183,716 | €1,234,373 | +€50,658 | +4.3% |
| Provisions and deferred taxes | 16 | €20,094 | €18,148 | -€1,946 | -9.7% |
| Provisions for liabilities and charges | 160/5 | €20,094 | €18,148 | -€1,946 | -9.7% |
| Environmental obligations | 163 | €20,094 | €18,148 | -€1,946 | -9.7% |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €1,848,996 | €1,863,385 | +€14,389 | +0.8% |
| Amounts payable within one year | 42/48 | €1,848,996 | €1,863,385 | +€14,389 | +0.8% |
| Trade debts | 44 | €1,464,864 | €1,491,888 | +€27,024 | +1.8% |
| Suppliers | 440/4 | €1,464,864 | €1,491,888 | +€27,024 | +1.8% |
| Taxes, remuneration and social security | 45 | €384,132 | €371,497 | -€12,635 | -3.3% |
| Taxes | 450/3 | €123,417 | €94,017 | -€29,400 | -23.8% |
| Remuneration and social security | 454/9 | €260,714 | €277,480 | +€16,765 | +6.4% |
| Remuneration, social security and pensions | 62 | €2,561,096 | €2,603,500 | +€42,404 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,659 | €57,882 | -€1,778 | -3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €66,386 | -€29,435 | -€95,821 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,078 | -€1,946 | +€132 | +6.4% |
| Other operating charges | 640/8 | €45,798 | €40,122 | -€5,675 | -12.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €2,836,237 | €2,760,058 | -€76,179 | -2.7% |
| Operating profit (loss) | 9901 | €105,376 | €89,935 | -€15,441 | -14.7% |
| Financial income | 75/76B | €6,438 | €22,992 | +€16,554 | +257.1% |
| Recurring financial income | 75 | €6,438 | €22,992 | +€16,554 | +257.1% |
| Financial charges | 65/66B | €20,081 | €11,346 | -€8,734 | -43.5% |
| Recurring financial charges | 65 | €20,081 | €11,346 | -€8,734 | -43.5% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €91,734 | €101,580 | +€9,847 | +10.7% |
| Income taxes | 67/77 | €9,284 | €50,923 | +€41,638 | +448.5% |
| Profit (loss) for the period | 9904 | €82,450 | €50,658 | -€31,792 | -38.6% |
| Profit (loss) for the period to be appropriated | 9905 | €82,450 | €50,658 | -€31,792 | -38.6% |
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 6 October 2026 via checked.be.