RAS MANAGEMENT: 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.
RAS MANAGEMENT
Largest movements
- Receivables within one year +€10,443
up €10,443 (+2333.8%), from €447 to €10,890
of which Trade receivables: +€10,842
- Tangible fixed assets -€2,784
down €2,784 (-61.6%), from €4,522 to €1,738
- Cash +€1,860
up €1,860 (+58.4%), from €3,186 to €5,045
mainly Other debts (+€8,001) and Depreciation (+€2,784)
- Other debts +€8,001
up €8,001 (+1.8%), from €442,002 to €450,003
- Tax, wage and social debts +€2,600
up €2,600 (+1506.4%), from €173 to €2,773
- Profit (loss) carried forward -€1,055
down €1,055 (-0.2%), from -€567,349 to -€568,403
- Gross operating margin +€1,162
up €1,162 (+82.9%), from €1,402 to €2,565
- Depreciation -€612
down €612 (-18.0%), from €3,396 to €2,784
- Financial charges +€95
up €95 (+50.1%), from €189 to €284
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 | €13,063 | €22,577 | +€9,514 | +72.8% |
| Fixed assets | 21/28 | €7,522 | €4,738 | -€2,784 | -37.0% |
| Tangible fixed assets | 22/27 | €4,522 | €1,738 | -€2,784 | -61.6% |
| Furniture and vehicles | 24 | €4,522 | €1,738 | -€2,784 | -61.6% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €5,540 | €17,838 | +€12,298 | +222.0% |
| Amounts receivable within one year | 40/41 | €447 | €10,890 | +€10,443 | +2333.8% |
| Trade receivables | 40 | €48 | €10,890 | +€10,842 | +22773.3% |
| Other amounts receivable | 41 | €400 | - | -€400 | |
| Cash at bank and in hand | 54/58 | €3,186 | €5,045 | +€1,860 | +58.4% |
| Deferred charges and accrued income | 490/1 | €1,907 | €1,903 | -€5 | -0.2% |
| Total equity and liabilities | 10/49 | €13,063 | €22,577 | +€9,514 | +72.8% |
| Equity | 10/15 | -€499,149 | -€500,203 | -€1,055 | -0.2% |
| 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 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€567,349 | -€568,403 | -€1,055 | -0.2% |
| Provisions and deferred taxes | 16 | €70,000 | €70,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €70,000 | €70,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €70,000 | €70,000 | = | 0.0% |
| Amounts payable | 17/49 | €442,211 | €452,780 | +€10,569 | +2.4% |
| Amounts payable within one year | 42/48 | €442,211 | €452,780 | +€10,569 | +2.4% |
| Trade debts | 44 | €37 | €5 | -€32 | -86.9% |
| Suppliers | 440/4 | €37 | €5 | -€32 | -86.9% |
| Taxes, remuneration and social security | 45 | €173 | €2,773 | +€2,600 | +1506.4% |
| Taxes | 450/3 | €173 | €2,773 | +€2,600 | +1506.4% |
| Other amounts payable | 47/48 | €442,002 | €450,003 | +€8,001 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,396 | €2,784 | -€612 | -18.0% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €1,402 | €2,565 | +€1,162 | +82.9% |
| Operating profit (loss) | 9901 | -€2,378 | -€606 | +€1,772 | +74.5% |
| Financial income | 75/76B | €20 | - | -€20 | |
| Recurring financial income | 75 | €20 | - | -€20 | |
| Financial charges | 65/66B | €189 | €284 | +€95 | +50.1% |
| Recurring financial charges | 65 | €189 | €284 | +€95 | +50.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,547 | -€890 | +€1,657 | +65.1% |
| Income taxes | 67/77 | €173 | €165 | -€8 | -4.5% |
| Profit (loss) for the period | 9904 | -€2,719 | -€1,055 | +€1,665 | +61.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,719 | -€1,055 | +€1,665 | +61.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.