RASTELI: 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.
RASTELI
Largest movements
- Stocks and contracts -€147,942
down €147,942 (-20.6%), from €719,567 to €571,625
- Cash +€38,423
up €38,423 (+10.5%), from €365,283 to €403,707
mainly Stocks and contracts (+€147,942) and Trade debts (+€70,061)
- Receivables within one year -€28,851
down €28,851 (-5.8%), from €500,195 to €471,344
of which Other amounts receivable: -€45,614
- Intangible fixed assets -€25,766
down €25,766 (-55.2%), from €46,698 to €20,932
- Tax, wage and social debts -€109,304
down €109,304 (-63.0%), from €173,438 to €64,134
of which Taxes: -€90,312
- Debts after one year -€81,500
down €81,500 (-100.0%), from €81,500 to €0
- Trade debts +€70,061
up €70,061 (+74.5%), from €93,992 to €164,053
- Other debts -€39,845
down €39,845 (-100.0%), from €39,845 to €0
- Reserves -€22,324
down €22,324 (-1.8%), from €1.3m to €1.3m
of which Distributable reserves: -€22,324
- Staff costs -€79,927
down €79,927 (-10.4%), from €764,886 to €684,959
- Write-downs -€41,112
down €41,112 (-93.9%), from €43,761 to €2,649
- Depreciation -€22,246
down €22,246 (-40.5%), from €54,895 to €32,650
- Other operating charges -€12,945
down €12,945 (-26.0%), from €49,810 to €36,865
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 | €1,730,371 | €1,553,564 | -€176,807 | -10.2% |
| Fixed assets | 21/28 | €71,106 | €38,456 | -€32,650 | -45.9% |
| Intangible fixed assets | 21 | €46,698 | €20,932 | -€25,766 | -55.2% |
| Tangible fixed assets | 22/27 | €24,408 | €17,524 | -€6,884 | -28.2% |
| Furniture and vehicles | 24 | €9,335 | €4,816 | -€4,519 | -48.4% |
| Other tangible fixed assets | 26 | €15,073 | €12,709 | -€2,364 | -15.7% |
| Current assets | 29/58 | €1,659,266 | €1,515,108 | -€144,157 | -8.7% |
| Stocks and contracts in progress | 3 | €719,567 | €571,625 | -€147,942 | -20.6% |
| Stocks | 30/36 | €719,567 | €571,625 | -€147,942 | -20.6% |
| Amounts receivable within one year | 40/41 | €500,195 | €471,344 | -€28,851 | -5.8% |
| Trade receivables | 40 | €438,196 | €454,959 | +€16,763 | +3.8% |
| Other amounts receivable | 41 | €61,999 | €16,385 | -€45,614 | -73.6% |
| Cash at bank and in hand | 54/58 | €365,283 | €403,707 | +€38,423 | +10.5% |
| Deferred charges and accrued income | 490/1 | €74,221 | €68,432 | -€5,788 | -7.8% |
| Total equity and liabilities | 10/49 | €1,730,371 | €1,553,564 | -€176,807 | -10.2% |
| Equity | 10/15 | €1,335,023 | €1,312,699 | -€22,324 | -1.7% |
| 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 | €1,273,023 | €1,250,699 | -€22,324 | -1.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,266,823 | €1,244,499 | -€22,324 | -1.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €395,348 | €240,865 | -€154,483 | -39.1% |
| Amounts payable after more than one year | 17 | €81,500 | €0 | -€81,500 | -100.0% |
| Financial debts | 170/4 | €81,500 | €0 | -€81,500 | -100.0% |
| Amounts payable within one year | 42/48 | €313,475 | €228,187 | -€85,288 | -27.2% |
| Current portion of amounts payable after more than one year | 42 | €6,200 | €0 | -€6,200 | -100.0% |
| Trade debts | 44 | €93,992 | €164,053 | +€70,061 | +74.5% |
| Suppliers | 440/4 | €93,992 | €164,053 | +€70,061 | +74.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €173,438 | €64,134 | -€109,304 | -63.0% |
| Taxes | 450/3 | €98,916 | €8,603 | -€90,312 | -91.3% |
| Remuneration and social security | 454/9 | €74,523 | €55,531 | -€18,992 | -25.5% |
| Other amounts payable | 47/48 | €39,845 | €0 | -€39,845 | -100.0% |
| Accrued charges and deferred income | 492/3 | €373 | €12,678 | +€12,305 | +3302.9% |
| Remuneration, social security and pensions | 62 | €764,886 | €684,959 | -€79,927 | -10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,895 | €32,650 | -€22,246 | -40.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €43,761 | €2,649 | -€41,112 | -93.9% |
| Other operating charges | 640/8 | €49,810 | €36,865 | -€12,945 | -26.0% |
| Gross operating margin | 9900 | €756,103 | €754,014 | -€2,089 | -0.3% |
| Operating profit (loss) | 9901 | -€157,250 | -€3,109 | +€154,141 | +98.0% |
| Financial income | 75/76B | €10,654 | €3,288 | -€7,366 | -69.1% |
| Recurring financial income | 75 | €10,654 | €3,288 | -€7,366 | -69.1% |
| Financial charges | 65/66B | €19,446 | €21,239 | +€1,792 | +9.2% |
| Recurring financial charges | 65 | €19,446 | €21,239 | +€1,792 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | -€166,043 | -€21,060 | +€144,983 | +87.3% |
| Income taxes | 67/77 | €0 | €1,264 | +€1,264 | |
| Profit (loss) for the period | 9904 | -€166,043 | -€22,324 | +€143,718 | +86.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€166,043 | -€22,324 | +€143,718 | +86.6% |
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 4 October 2026 via checked.be.