RAVCO: 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.
RAVCO
Largest movements
- Intangible fixed assets +€85,990
new in 2025: €85,990
- Receivables after one year -€38,268
down €38,268 (-65.7%), from €58,203 to €19,936
- Financial fixed assets -€25,000
down €25,000 (-100.0%), from €25,000 to €0
- Tangible fixed assets +€4,437
up €4,437 (+369.3%), from €1,202 to €5,638
of which Plant, machinery and equipment: +€3,304
- Trade debts +€15,113
up €15,113 (+2508.4%), from €602 to €15,715
- Tax, wage and social debts +€9,264
up €9,264 (+229.7%), from €4,033 to €13,298
of which Remuneration and social security: +€5,806
- Gross operating margin +€50,260
up €50,260, from -€1,460 to €48,799
- Financial charges +€24,996
up €24,996 (+11020.3%), from €227 to €25,223
of which Non-recurring financial charges: +€25,000
- Staff costs +€19,929
new in 2025: €19,929
- Depreciation +€2,399
up €2,399 (+1184.2%), from €203 to €2,601
- Taxes +€610
up €610 (+420.0%), from €145 to €755
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 | €171,543 | €195,736 | +€24,193 | +14.1% |
| Fixed assets | 21/28 | €26,202 | €91,628 | +€65,427 | +249.7% |
| Intangible fixed assets | 21 | - | €85,990 | +€85,990 | |
| Tangible fixed assets | 22/27 | €1,202 | €5,638 | +€4,437 | +369.3% |
| Plant, machinery and equipment | 23 | - | €3,304 | +€3,304 | |
| Furniture and vehicles | 24 | €1,202 | €2,334 | +€1,133 | +94.3% |
| Financial fixed assets | 28 | €25,000 | €0 | -€25,000 | -100.0% |
| Current assets | 29/58 | €145,341 | €104,108 | -€41,233 | -28.4% |
| Amounts receivable after more than one year | 29 | €58,203 | €19,936 | -€38,268 | -65.7% |
| Other amounts receivable | 291 | €58,203 | €19,936 | -€38,268 | -65.7% |
| Amounts receivable within one year | 40/41 | €59,332 | €57,434 | -€1,898 | -3.2% |
| Trade receivables | 40 | €53,654 | €47,611 | -€6,043 | -11.3% |
| Other amounts receivable | 41 | €5,678 | €9,824 | +€4,145 | +73.0% |
| Cash at bank and in hand | 54/58 | €27,374 | €26,238 | -€1,136 | -4.2% |
| Deferred charges and accrued income | 490/1 | €431 | €500 | +€69 | +16.0% |
| Total equity and liabilities | 10/49 | €171,543 | €195,736 | +€24,193 | +14.1% |
| Equity | 10/15 | €90,918 | €91,042 | +€124 | +0.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €48,463 | €48,463 | = | 0.0% |
| Distributable reserves | 133 | €48,463 | €48,463 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,255 | €36,379 | +€124 | +0.3% |
| Amounts payable | 17/49 | €80,625 | €104,694 | +€24,069 | +29.9% |
| Amounts payable within one year | 42/48 | €80,530 | €104,390 | +€23,860 | +29.6% |
| Trade debts | 44 | €602 | €15,715 | +€15,113 | +2508.4% |
| Suppliers | 440/4 | €602 | €15,715 | +€15,113 | +2508.4% |
| Taxes, remuneration and social security | 45 | €4,033 | €13,298 | +€9,264 | +229.7% |
| Taxes | 450/3 | €4,033 | €7,492 | +€3,459 | +85.8% |
| Remuneration and social security | 454/9 | - | €5,806 | +€5,806 | |
| Other amounts payable | 47/48 | €75,894 | €75,378 | -€517 | -0.7% |
| Accrued charges and deferred income | 492/3 | €95 | €304 | +€209 | +220.5% |
| Remuneration, social security and pensions | 62 | - | €19,929 | +€19,929 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €203 | €2,601 | +€2,399 | +1184.2% |
| Other operating charges | 640/8 | €505 | €747 | +€242 | +47.9% |
| Gross operating margin | 9900 | -€1,460 | €48,799 | +€50,260 | |
| Operating profit (loss) | 9901 | -€2,168 | €25,522 | +€27,691 | |
| Financial income | 75/76B | €661 | €580 | -€81 | -12.3% |
| Recurring financial income | 75 | €661 | €580 | -€81 | -12.3% |
| Financial charges | 65/66B | €227 | €25,223 | +€24,996 | +11020.3% |
| Recurring financial charges | 65 | €227 | €223 | -€4 | -1.6% |
| Non-recurring financial charges | 66B | €0 | €25,000 | +€25,000 | |
| Profit (loss) for the period before taxes | 9903 | -€1,734 | €879 | +€2,613 | |
| Income taxes | 67/77 | €145 | €755 | +€610 | +420.0% |
| Profit (loss) for the period | 9904 | -€1,879 | €124 | +€2,003 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,879 | €124 | +€2,003 |
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 8 October 2026 via checked.be.