RaVaCo: 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.
RaVaCo
Largest movements
- Stocks and contracts -€360,565
down €360,565 (-96.3%), from €374,286 to €13,721
- Tangible fixed assets +€329,324
up €329,324 (+278.6%), from €118,213 to €447,537
of which Land and buildings: +€337,376
- Receivables within one year +€14,544
up €14,544 (+70.0%), from €20,791 to €35,335
of which Trade receivables: +€22,215
- Profit (loss) carried forward -€12,458
down €12,458 (-863.1%), from -€1,443 to -€13,901
- Other debts +€9,302
up €9,302 (+18.8%), from €49,481 to €58,783
- Debts after one year -€5,574
down €5,574 (-1.4%), from €406,511 to €400,937
- Depreciation +€14,806
up €14,806 (+94.6%), from €15,646 to €30,451
- Gross operating margin +€2,605
up €2,605 (+11.4%), from €22,845 to €25,451
- Other operating charges -€715
down €715 (-20.9%), from €3,424 to €2,709
- Taxes -€465
down €465 (-75.3%), from €617 to €152
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 | €517,551 | €500,554 | -€16,997 | -3.3% |
| Fixed assets | 21/28 | €118,213 | €447,537 | +€329,324 | +278.6% |
| Tangible fixed assets | 22/27 | €118,213 | €447,537 | +€329,324 | +278.6% |
| Land and buildings | 22 | €101,320 | €438,696 | +€337,376 | +333.0% |
| Plant, machinery and equipment | 23 | €9,255 | €4,256 | -€4,999 | -54.0% |
| Furniture and vehicles | 24 | €7,638 | €4,585 | -€3,053 | -40.0% |
| Current assets | 29/58 | €399,338 | €53,017 | -€346,321 | -86.7% |
| Stocks and contracts in progress | 3 | €374,286 | €13,721 | -€360,565 | -96.3% |
| Stocks | 30/36 | €374,286 | €13,721 | -€360,565 | -96.3% |
| Amounts receivable within one year | 40/41 | €20,791 | €35,335 | +€14,544 | +70.0% |
| Trade receivables | 40 | €6,738 | €28,954 | +€22,215 | +329.7% |
| Other amounts receivable | 41 | €14,053 | €6,382 | -€7,671 | -54.6% |
| Cash at bank and in hand | 54/58 | €2,951 | €1,261 | -€1,690 | -57.3% |
| Deferred charges and accrued income | 490/1 | €1,310 | €2,700 | +€1,390 | +106.1% |
| Total equity and liabilities | 10/49 | €517,551 | €500,554 | -€16,997 | -3.3% |
| Equity | 10/15 | €37,145 | €24,687 | -€12,458 | -33.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €32,388 | €32,388 | = | 0.0% |
| Distributable reserves | 133 | €32,388 | €32,388 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,443 | -€13,901 | -€12,458 | -863.1% |
| Amounts payable | 17/49 | €480,406 | €475,867 | -€4,540 | -0.9% |
| Amounts payable after more than one year | 17 | €406,511 | €400,937 | -€5,574 | -1.4% |
| Financial debts | 170/4 | €406,511 | €400,937 | -€5,574 | -1.4% |
| Amounts payable within one year | 42/48 | €73,895 | €74,930 | +€1,035 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €8,443 | €5,733 | -€2,710 | -32.1% |
| Trade debts | 44 | €7,588 | €3,687 | -€3,902 | -51.4% |
| Suppliers | 440/4 | €7,588 | €3,687 | -€3,902 | -51.4% |
| Taxes, remuneration and social security | 45 | €8,383 | €6,727 | -€1,656 | -19.8% |
| Taxes | 450/3 | €6,583 | €4,927 | -€1,656 | -25.2% |
| Remuneration and social security | 454/9 | €1,800 | €1,800 | = | 0.0% |
| Other amounts payable | 47/48 | €49,481 | €58,783 | +€9,302 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,646 | €30,451 | +€14,806 | +94.6% |
| Other operating charges | 640/8 | €3,424 | €2,709 | -€715 | -20.9% |
| Gross operating margin | 9900 | €22,845 | €25,451 | +€2,605 | +11.4% |
| Operating profit (loss) | 9901 | €3,775 | -€7,710 | -€11,485 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -83.3% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -83.3% |
| Financial charges | 65/66B | €4,602 | €4,596 | -€6 | -0.1% |
| Recurring financial charges | 65 | €4,602 | €4,596 | -€6 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | -€827 | -€12,306 | -€11,479 | -1388.8% |
| Income taxes | 67/77 | €617 | €152 | -€465 | -75.3% |
| Profit (loss) for the period | 9904 | -€1,443 | -€12,458 | -€11,014 | -763.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,443 | -€12,458 | -€11,014 | -763.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.