RAVAL: 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.
RAVAL
Largest movements
- Receivables within one year +€188,685
up €188,685 (+533.7%), from €35,354 to €224,039
of which Other amounts receivable: +€202,479
- Cash +€139,246
up €139,246 (+129.8%), from €107,262 to €246,508
mainly Net result for the year (+€277,090) and Stocks and contracts (+€110,077)
- Stocks and contracts -€110,077
down €110,077 (-29.0%), from €379,277 to €269,200
- Tangible fixed assets -€19,036
down €19,036 (-7.9%), from €240,050 to €221,014
of which Land and buildings: -€56,665
- Reserves +€277,090
up €277,090 (+494.7%), from €56,014 to €333,104
of which Tax-exempt reserves: +€153,166
- Contributions -€225,294
down €225,294 (-78.7%), from €286,250 to €60,956
- Debts after one year -€79,750
down €79,750 (-72.6%), from €109,921 to €30,172
- Other debts +€75,696
up €75,696 (+37.8%), from €200,194 to €275,889
- Current portion of long-term debt +€53,328
up €53,328 (+216.8%), from €24,601 to €77,929
- Turnover -€1.0m
no longer reported in 2025 (was €1.0m)
- Purchases and services -€983,029
no longer reported in 2025 (was €983,029)
- Gross operating margin +€400,894
up €400,894 (+417.3%), from €96,080 to €496,974
- Taxes +€44,784
up €44,784 (+14703.9%), from €305 to €45,088
- Staff costs +€26,531
up €26,531 (+40.8%), from €65,011 to €91,542
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 | €764,657 | €962,149 | +€197,492 | +25.8% |
| Fixed assets | 21/28 | €241,438 | €222,402 | -€19,036 | -7.9% |
| Tangible fixed assets | 22/27 | €240,050 | €221,014 | -€19,036 | -7.9% |
| Land and buildings | 22 | €226,159 | €169,494 | -€56,665 | -25.1% |
| Plant, machinery and equipment | 23 | €13,891 | €8,057 | -€5,833 | -42.0% |
| Furniture and vehicles | 24 | - | €43,463 | +€43,463 | |
| Financial fixed assets | 28 | €1,388 | €1,388 | = | 0.0% |
| Current assets | 29/58 | €523,219 | €739,747 | +€216,528 | +41.4% |
| Stocks and contracts in progress | 3 | €379,277 | €269,200 | -€110,077 | -29.0% |
| Stocks | 30/36 | €379,277 | €269,200 | -€110,077 | -29.0% |
| Amounts receivable within one year | 40/41 | €35,354 | €224,039 | +€188,685 | +533.7% |
| Trade receivables | 40 | €13,794 | €0 | -€13,794 | -100.0% |
| Other amounts receivable | 41 | €21,560 | €224,039 | +€202,479 | +939.1% |
| Cash at bank and in hand | 54/58 | €107,262 | €246,508 | +€139,246 | +129.8% |
| Deferred charges and accrued income | 490/1 | €1,326 | €0 | -€1,326 | -100.0% |
| Total equity and liabilities | 10/49 | €764,657 | €962,149 | +€197,492 | +25.8% |
| Equity | 10/15 | €342,264 | €394,060 | +€51,796 | +15.1% |
| Contributions | 10/11 | €286,250 | €60,956 | -€225,294 | -78.7% |
| Reserves | 13 | €56,014 | €333,104 | +€277,090 | +494.7% |
| Non-distributable reserves | 130/1 | €13,125 | €13,125 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,125 | €13,125 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €153,166 | +€153,166 | |
| Distributable reserves | 133 | €42,889 | €166,813 | +€123,924 | +288.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €51,055 | +€51,055 | |
| Deferred taxes | 168 | - | €51,055 | +€51,055 | |
| Amounts payable | 17/49 | €422,393 | €517,033 | +€94,640 | +22.4% |
| Amounts payable after more than one year | 17 | €109,921 | €30,172 | -€79,750 | -72.6% |
| Financial debts | 170/4 | €109,921 | €30,172 | -€79,750 | -72.6% |
| Amounts payable within one year | 42/48 | €312,472 | €483,720 | +€171,248 | +54.8% |
| Current portion of amounts payable after more than one year | 42 | €24,601 | €77,929 | +€53,328 | +216.8% |
| Trade debts | 44 | €80,069 | €95,290 | +€15,221 | +19.0% |
| Suppliers | 440/4 | €80,069 | €95,290 | +€15,221 | +19.0% |
| Taxes, remuneration and social security | 45 | €7,608 | €34,611 | +€27,003 | +354.9% |
| Taxes | 450/3 | €305 | €12,392 | +€12,088 | +3968.8% |
| Remuneration and social security | 454/9 | €7,303 | €22,219 | +€14,916 | +204.2% |
| Other amounts payable | 47/48 | €200,194 | €275,889 | +€75,696 | +37.8% |
| Accrued charges and deferred income | 492/3 | - | €3,142 | +€3,142 | |
| Turnover | 70 | €1,010,699 | - | -€1.0m | |
| Non-recurring operating income | 76A | - | €408,442 | +€408,442 | |
| Goods, raw materials, services and sundry goods | 60/61 | €983,029 | - | -€983,029 | |
| Remuneration, social security and pensions | 62 | €65,011 | €91,542 | +€26,531 | +40.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,646 | €30,462 | +€6,815 | +28.8% |
| Other operating charges | 640/8 | €10,508 | €11,935 | +€1,428 | +13.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €96,080 | €496,974 | +€400,894 | +417.3% |
| Operating profit (loss) | 9901 | -€3,085 | €363,035 | +€366,120 | |
| Financial income | 75/76B | €9,011 | €14,557 | +€5,546 | +61.5% |
| Recurring financial income | 75 | €9,011 | €14,557 | +€5,546 | +61.5% |
| Financial charges | 65/66B | €3,243 | €4,358 | +€1,115 | +34.4% |
| Recurring financial charges | 65 | €3,243 | €4,358 | +€1,115 | +34.4% |
| Profit (loss) for the period before taxes | 9903 | €2,683 | €373,233 | +€370,551 | +13811.8% |
| Transfer to deferred taxes | 680 | - | €51,055 | +€51,055 | |
| Income taxes | 67/77 | €305 | €45,088 | +€44,784 | +14703.9% |
| Profit (loss) for the period | 9904 | €2,378 | €277,090 | +€274,711 | +11550.8% |
| Transfer to tax-exempt reserves | 689 | - | €153,166 | +€153,166 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,378 | €123,924 | +€121,546 | +5110.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.