RATNACO: 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.
RATNACO
Largest movements
- Receivables within one year -€10,834
no longer reported in 2025 (was €10,834)
- Tangible fixed assets -€6,303
down €6,303 (-3.6%), from €176,485 to €170,182
of which Land and buildings: -€6,303
- Other debts +€38,541
up €38,541 (+22.0%), from €175,346 to €213,886
- Profit (loss) carried forward -€27,641
down €27,641 (-22.1%), from -€125,018 to -€152,659
- Trade debts -€22,496
down €22,496 (-61.0%), from €36,855 to €14,359
- Current portion of long-term debt -€5,125
down €5,125 (-46.7%), from €10,967 to €5,842
- Gross operating margin +€3,235
up €3,235 (+15.6%), from -€20,754 to -€17,518
- Taxes -€1,618
new in 2025: -€1,618
- Financial charges +€1,103
up €1,103 (+245.5%), from €449 to €1,553
- Other operating charges +€281
up €281 (+7.8%), from €3,604 to €3,885
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 | €221,985 | €203,646 | -€18,339 | -8.3% |
| Fixed assets | 21/28 | €176,485 | €170,182 | -€6,303 | -3.6% |
| Tangible fixed assets | 22/27 | €176,485 | €170,182 | -€6,303 | -3.6% |
| Land and buildings | 22 | €176,485 | €170,182 | -€6,303 | -3.6% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €45,500 | €33,464 | -€12,036 | -26.5% |
| Stocks and contracts in progress | 3 | €32,747 | €32,747 | = | 0.0% |
| Stocks | 30/36 | €32,747 | €32,747 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,834 | - | -€10,834 | |
| Other amounts receivable | 41 | €10,834 | - | -€10,834 | |
| Cash at bank and in hand | 54/58 | €1,453 | €175 | -€1,278 | -88.0% |
| Deferred charges and accrued income | 490/1 | €467 | €542 | +€76 | +16.2% |
| Total equity and liabilities | 10/49 | €221,985 | €203,646 | -€18,339 | -8.3% |
| Equity | 10/15 | -€2,800 | -€30,441 | -€27,641 | -987.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €103,618 | €103,618 | = | 0.0% |
| Distributable reserves | 133 | €103,618 | €103,618 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€125,018 | -€152,659 | -€27,641 | -22.1% |
| Amounts payable | 17/49 | €224,785 | €234,087 | +€9,302 | +4.1% |
| Amounts payable within one year | 42/48 | €224,785 | €234,087 | +€9,302 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €10,967 | €5,842 | -€5,125 | -46.7% |
| Trade debts | 44 | €36,855 | €14,359 | -€22,496 | -61.0% |
| Suppliers | 440/4 | €36,855 | €14,359 | -€22,496 | -61.0% |
| Taxes, remuneration and social security | 45 | €1,618 | - | -€1,618 | |
| Taxes | 450/3 | €1,618 | - | -€1,618 | |
| Other amounts payable | 47/48 | €175,346 | €213,886 | +€38,541 | +22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,303 | €6,303 | = | 0.0% |
| Other operating charges | 640/8 | €3,604 | €3,885 | +€281 | +7.8% |
| Gross operating margin | 9900 | -€20,754 | -€17,518 | +€3,235 | +15.6% |
| Operating profit (loss) | 9901 | -€30,661 | -€27,706 | +€2,955 | +9.6% |
| Financial charges | 65/66B | €449 | €1,553 | +€1,103 | +245.5% |
| Recurring financial charges | 65 | €449 | €1,553 | +€1,103 | +245.5% |
| Profit (loss) for the period before taxes | 9903 | -€31,110 | -€29,259 | +€1,851 | +6.0% |
| Income taxes | 67/77 | - | -€1,618 | -€1,618 | |
| Profit (loss) for the period | 9904 | -€31,110 | -€27,641 | +€3,469 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,110 | -€27,641 | +€3,469 | +11.2% |
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 9 October 2026 via checked.be.