RAV 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.
RAV MANAGEMENT
Largest movements
- Cash +€502,678
up €502,678 (+3875.9%), from €12,969 to €515,648
mainly Net result for the year (+€447,450) and Tax, wage and social debts (+€233,889)
- Receivables within one year +€138,962
up €138,962 (+335.8%), from €41,383 to €180,344
of which Trade receivables: +€144,450
- Current investments -€14,066
down €14,066 (-36.8%), from €38,223 to €24,157
- Tangible fixed assets -€7,307
down €7,307 (-73.3%), from €9,964 to €2,657
- Reserves +€353,468
up €353,468 (+721.6%), from €48,982 to €402,450
- Tax, wage and social debts +€233,889
up €233,889 (+3277.2%), from €7,137 to €241,026
of which Taxes: +€231,889
- Other debts +€33,815
up €33,815 (+77.1%), from €43,831 to €77,646
- Gross operating margin +€537,133
up €537,133 (+744.7%), from €72,128 to €609,261
- Taxes +€146,415
up €146,415 (+951.4%), from €15,389 to €161,804
- Financial income +€8,015
up €8,015 (+453.8%), from €1,766 to €9,781
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 | €105,946 | €726,655 | +€620,709 | +585.9% |
| Fixed assets | 21/28 | €10,337 | €3,030 | -€7,307 | -70.7% |
| Tangible fixed assets | 22/27 | €9,964 | €2,657 | -€7,307 | -73.3% |
| Furniture and vehicles | 24 | €9,964 | €2,657 | -€7,307 | -73.3% |
| Financial fixed assets | 28 | €373 | €373 | = | 0.0% |
| Current assets | 29/58 | €95,609 | €723,625 | +€628,016 | +656.9% |
| Amounts receivable within one year | 40/41 | €41,383 | €180,344 | +€138,962 | +335.8% |
| Trade receivables | 40 | €895 | €145,344 | +€144,450 | +16146.7% |
| Other amounts receivable | 41 | €40,488 | €35,000 | -€5,488 | -13.6% |
| Current investments | 50/53 | €38,223 | €24,157 | -€14,066 | -36.8% |
| Cash at bank and in hand | 54/58 | €12,969 | €515,648 | +€502,678 | +3875.9% |
| Deferred charges and accrued income | 490/1 | €3,034 | €3,476 | +€442 | +14.6% |
| Total equity and liabilities | 10/49 | €105,946 | €726,655 | +€620,709 | +585.9% |
| Equity | 10/15 | €50,982 | €404,450 | +€353,468 | +693.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Outside capital | 11 | €2,000 | €2,000 | = | 0.0% |
| Share premium | 1100/10 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €48,982 | €402,450 | +€353,468 | +721.6% |
| Distributable reserves | 133 | €48,982 | €402,450 | +€353,468 | +721.6% |
| Amounts payable | 17/49 | €54,965 | €322,205 | +€267,241 | +486.2% |
| Amounts payable within one year | 42/48 | €54,965 | €322,205 | +€267,241 | +486.2% |
| Trade debts | 44 | €3,997 | €3,533 | -€464 | -11.6% |
| Suppliers | 440/4 | €3,997 | €3,533 | -€464 | -11.6% |
| Taxes, remuneration and social security | 45 | €7,137 | €241,026 | +€233,889 | +3277.2% |
| Taxes | 450/3 | €7,137 | €239,026 | +€231,889 | +3249.2% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €43,831 | €77,646 | +€33,815 | +77.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,905 | €7,629 | -€4,276 | -35.9% |
| Other operating charges | 640/8 | €1,898 | €849 | -€1,049 | -55.3% |
| Gross operating margin | 9900 | €72,128 | €609,261 | +€537,133 | +744.7% |
| Operating profit (loss) | 9901 | €58,326 | €600,784 | +€542,458 | +930.0% |
| Financial income | 75/76B | €1,766 | €9,781 | +€8,015 | +453.8% |
| Recurring financial income | 75 | €1,766 | €9,781 | +€8,015 | +453.8% |
| Financial charges | 65/66B | €872 | €1,311 | +€439 | +50.4% |
| Recurring financial charges | 65 | €872 | €1,311 | +€439 | +50.4% |
| Profit (loss) for the period before taxes | 9903 | €59,220 | €609,254 | +€550,034 | +928.8% |
| Income taxes | 67/77 | €15,389 | €161,804 | +€146,415 | +951.4% |
| Profit (loss) for the period | 9904 | €43,831 | €447,450 | +€403,619 | +920.9% |
| Profit (loss) for the period to be appropriated | 9905 | €43,831 | €447,450 | +€403,619 | +920.9% |
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.