RAVAGE: 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.
RAVAGE
Largest movements
- Receivables within one year +€679,332
up €679,332 (+709.4%), from €95,759 to €775,091
of which Other amounts receivable: +€678,592
- Current investments -€602,772
no longer reported in 2025 (was €602,772)
- Tangible fixed assets -€26,480
down €26,480 (-4.8%), from €554,687 to €528,208
- Profit (loss) carried forward +€80,222
up €80,222 (+127.0%), from €63,168 to €143,390
- Debts after one year -€26,372
down €26,372 (-5.8%), from €458,380 to €432,008
- Gross operating margin +€143,026
up €143,026, from -€10,298 to €132,728
- Financial income -€54,317
down €54,317 (-83.6%), from €64,946 to €10,629
of which Non-recurring financial income: -€59,740
- Financial charges +€4,587
up €4,587 (+27.7%), from €16,538 to €21,126
- Depreciation +€4,526
up €4,526 (+17.4%), from €26,079 to €30,605
- Taxes +€3,377
new in 2025: €3,377
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 | €1,278,864 | €1,327,236 | +€48,372 | +3.8% |
| Fixed assets | 21/28 | €554,687 | €528,208 | -€26,480 | -4.8% |
| Tangible fixed assets | 22/27 | €554,687 | €528,208 | -€26,480 | -4.8% |
| Land and buildings | 22 | €554,687 | €528,208 | -€26,480 | -4.8% |
| Current assets | 29/58 | €724,177 | €799,028 | +€74,852 | +10.3% |
| Amounts receivable within one year | 40/41 | €95,759 | €775,091 | +€679,332 | +709.4% |
| Trade receivables | 40 | €197 | €937 | +€740 | +375.6% |
| Other amounts receivable | 41 | €95,562 | €774,154 | +€678,592 | +710.1% |
| Current investments | 50/53 | €602,772 | - | -€602,772 | |
| Cash at bank and in hand | 54/58 | €24,898 | €21,194 | -€3,704 | -14.9% |
| Deferred charges and accrued income | 490/1 | €748 | €2,743 | +€1,995 | +266.5% |
| Total equity and liabilities | 10/49 | €1,278,864 | €1,327,236 | +€48,372 | +3.8% |
| Equity | 10/15 | €774,771 | €854,993 | +€80,222 | +10.4% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €674,418 | €674,418 | = | 0.0% |
| Distributable reserves | 133 | €674,418 | €674,418 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,168 | €143,390 | +€80,222 | +127.0% |
| Amounts payable | 17/49 | €504,093 | €472,243 | -€31,850 | -6.3% |
| Amounts payable after more than one year | 17 | €458,380 | €432,008 | -€26,372 | -5.8% |
| Financial debts | 170/4 | €458,380 | €432,008 | -€26,372 | -5.8% |
| Amounts payable within one year | 42/48 | €38,679 | €33,324 | -€5,355 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €25,313 | €26,372 | +€1,059 | +4.2% |
| Trade debts | 44 | €3,254 | €1,598 | -€1,656 | -50.9% |
| Suppliers | 440/4 | €3,254 | €1,598 | -€1,656 | -50.9% |
| Taxes, remuneration and social security | 45 | €4,758 | - | -€4,758 | |
| Taxes | 450/3 | €4,758 | - | -€4,758 | |
| Other amounts payable | 47/48 | €5,354 | €5,354 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,035 | €6,912 | -€123 | -1.8% |
| Non-recurring operating income | 76A | - | €44,340 | +€44,340 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,079 | €30,605 | +€4,526 | +17.4% |
| Other operating charges | 640/8 | €6,332 | €7,017 | +€685 | +10.8% |
| Non-recurring operating charges | 66A | - | €1,011 | +€1,011 | |
| Gross operating margin | 9900 | -€10,298 | €132,728 | +€143,026 | |
| Operating profit (loss) | 9901 | -€42,709 | €94,096 | +€136,804 | |
| Financial income | 75/76B | €64,946 | €10,629 | -€54,317 | -83.6% |
| Recurring financial income | 75 | €5,206 | €10,629 | +€5,423 | +104.2% |
| Non-recurring financial income | 76B | €59,740 | - | -€59,740 | |
| Financial charges | 65/66B | €16,538 | €21,126 | +€4,587 | +27.7% |
| Recurring financial charges | 65 | €16,538 | €21,126 | +€4,587 | +27.7% |
| Profit (loss) for the period before taxes | 9903 | €5,699 | €83,599 | +€77,900 | +1367.0% |
| Income taxes | 67/77 | - | €3,377 | +€3,377 | |
| Profit (loss) for the period | 9904 | €5,699 | €80,222 | +€74,523 | +1307.8% |
| Profit (loss) for the period to be appropriated | 9905 | €5,699 | €80,222 | +€74,523 | +1307.8% |
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 5 October 2026 via checked.be.