RASSCHAERT & P.: 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.
RASSCHAERT & P.
Largest movements
- Receivables within one year +€4,327
up €4,327 (+12.3%), from €35,261 to €39,588
of which Trade receivables: +€4,732
- Tangible fixed assets -€1,985
down €1,985 (-29.2%), from €6,809 to €4,823
of which Plant, machinery and equipment: -€1,968
- Debts after one year +€98,790
new in 2025: €98,790
- Other debts -€80,552
no longer reported in 2025 (was €80,552)
- Profit (loss) carried forward -€12,679
down €12,679 (-20.4%), from -€62,233 to -€74,912
- Trade debts -€3,423
down €3,423 (-81.8%), from €4,184 to €761
- Short-term financial debts +€600
up €600 (+853%), from €70 to €671
- Gross operating margin -€15,420
down €15,420, from €6,040 to -€9,380
- Depreciation -€1,144
down €1,144 (-36.6%), from €3,129 to €1,985
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,718 | €46,220 | +€2,502 | +5.7% |
| Fixed assets | 21/28 | €6,809 | €4,823 | -€1,985 | -29.2% |
| Tangible fixed assets | 22/27 | €6,809 | €4,823 | -€1,985 | -29.2% |
| Plant, machinery and equipment | 23 | €6,791 | €4,823 | -€1,968 | -29.0% |
| Other tangible fixed assets | 26 | €18 | - | -€18 | |
| Current assets | 29/58 | €36,909 | €41,396 | +€4,487 | +12.2% |
| Stocks and contracts in progress | 3 | €999 | €999 | = | 0.0% |
| Stocks | 30/36 | €999 | €999 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €35,261 | €39,588 | +€4,327 | +12.3% |
| Trade receivables | 40 | €33,653 | €38,385 | +€4,732 | +14.1% |
| Other amounts receivable | 41 | €1,608 | €1,203 | -€405 | -25.2% |
| Deferred charges and accrued income | 490/1 | €650 | €810 | +€160 | +24.6% |
| Total equity and liabilities | 10/49 | €43,718 | €46,220 | +€2,502 | +5.7% |
| Equity | 10/15 | -€41,773 | -€54,452 | -€12,679 | -30.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€62,233 | -€74,912 | -€12,679 | -20.4% |
| Amounts payable | 17/49 | €85,491 | €100,672 | +€15,181 | +17.8% |
| Amounts payable after more than one year | 17 | - | €98,790 | +€98,790 | |
| Other amounts payable | 178/9 | - | €98,790 | +€98,790 | |
| Amounts payable within one year | 42/48 | €85,491 | €1,883 | -€83,609 | -97.8% |
| Financial debts | 43 | €70 | €671 | +€600 | +853% |
| Credit institutions | 430/8 | €70 | €671 | +€600 | +853% |
| Trade debts | 44 | €4,184 | €761 | -€3,423 | -81.8% |
| Suppliers | 440/4 | €4,184 | €761 | -€3,423 | -81.8% |
| Taxes, remuneration and social security | 45 | €685 | €451 | -€234 | -34.2% |
| Taxes | 450/3 | €685 | €451 | -€234 | -34.2% |
| Other amounts payable | 47/48 | €80,552 | - | -€80,552 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,129 | €1,985 | -€1,144 | -36.6% |
| Other operating charges | 640/8 | €834 | €865 | +€31 | +3.7% |
| Gross operating margin | 9900 | €6,040 | -€9,380 | -€15,420 | |
| Operating profit (loss) | 9901 | €2,076 | -€12,231 | -€14,307 | |
| Financial income | 75/76B | €38 | €0 | -€38 | -99.7% |
| Recurring financial income | 75 | €38 | €0 | -€38 | -99.7% |
| Financial charges | 65/66B | €252 | €240 | -€12 | -4.7% |
| Recurring financial charges | 65 | €252 | €240 | -€12 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €1,863 | -€12,471 | -€14,334 | |
| Income taxes | 67/77 | €251 | €208 | -€42 | -16.9% |
| Profit (loss) for the period | 9904 | €1,612 | -€12,679 | -€14,291 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,612 | -€12,679 | -€14,291 |
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 25 October 2026 via checked.be.