RAVE - NATION: 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.
RAVE - NATION
Largest movements
- Tangible fixed assets -€181,741
down €181,741 (-12.8%), from €1.4m to €1.2m
of which Land and buildings: -€180,055
- Cash +€98,137
up €98,137 (+15,674%), from €626 to €98,763
mainly Contributions, distributions and other (+€226,188) and Investment in fixed assets (net) (+€142,528)
- Receivables within one year +€89,457
up €89,457 (+20.4%), from €438,740 to €528,197
of which Other amounts receivable: +€68,625
- Short-term financial debts -€370,767
no longer reported in 2025 (was €370,767)
- Reserves +€303,820
up €303,820 (+31.0%), from €980,003 to €1.3m
of which Tax-exempt reserves: +€216,061
- Provisions +€72,020
up €72,020 (+131%), from €54,849 to €126,870
- Tax, wage and social debts -€45,319
down €45,319 (-30.6%), from €147,972 to €102,653
- Accrued charges and deferred income +€35,663
up €35,663 (+599%), from €5,958 to €41,621
- Gross operating margin -€88,526
down €88,526 (-34.3%), from €257,904 to €169,378
- Financial charges -€17,207
down €17,207 (-45.6%), from €37,700 to €20,493
- Taxes -€15,289
down €15,289 (-23.9%), from €64,086 to €48,797
- Financial income +€6,425
up €6,425 (+31.3%), from €20,553 to €26,979
- Other operating charges -€6,132
down €6,132 (-31.7%), from €19,363 to €13,230
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.
Derived cash bridge
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 | €1,997,566 | €2,004,208 | +€6,642 | +0.3% |
| Fixed assets | 21/28 | €1,436,551 | €1,254,442 | -€182,109 | -12.7% |
| Intangible fixed assets | 21 | €843 | €475 | -€368 | -43.6% |
| Tangible fixed assets | 22/27 | €1,416,427 | €1,234,686 | -€181,741 | -12.8% |
| Land and buildings | 22 | €1,402,693 | €1,222,638 | -€180,055 | -12.8% |
| Plant, machinery and equipment | 23 | €570 | €79 | -€490 | -86.1% |
| Furniture and vehicles | 24 | €1,200 | €900 | -€300 | -25.0% |
| Other tangible fixed assets | 26 | €11,964 | €11,069 | -€896 | -7.5% |
| Financial fixed assets | 28 | €19,281 | €19,281 | = | 0.0% |
| Current assets | 29/58 | €561,015 | €749,766 | +€188,751 | +33.6% |
| Stocks and contracts in progress | 3 | €121,129 | €121,129 | = | 0.0% |
| Stocks | 30/36 | €121,129 | €121,129 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €438,740 | €528,197 | +€89,457 | +20.4% |
| Trade receivables | 40 | €39,221 | €60,053 | +€20,832 | +53.1% |
| Other amounts receivable | 41 | €399,519 | €468,144 | +€68,625 | +17.2% |
| Cash at bank and in hand | 54/58 | €626 | €98,763 | +€98,137 | +15,674% |
| Deferred charges and accrued income | 490/1 | €519 | €1,676 | +€1,157 | +223% |
| Total equity and liabilities | 10/49 | €1,997,566 | €2,004,208 | +€6,642 | +0.3% |
| Equity | 10/15 | €1,206,858 | €1,510,678 | +€303,820 | +25.2% |
| Contributions | 10/11 | €185,701 | €185,701 | = | 0.0% |
| Reserves | 13 | €980,003 | €1,283,823 | +€303,820 | +31.0% |
| Non-distributable reserves | 130/1 | €19,760 | €19,760 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,760 | €19,760 | = | 0.0% |
| Tax-exempt reserves | 132 | €183,298 | €399,359 | +€216,061 | +118% |
| Distributable reserves | 133 | €776,946 | €864,704 | +€87,759 | +11.3% |
| Profit (loss) carried forward | 14 | €41,153 | €41,153 | = | 0.0% |
| Provisions and deferred taxes | 16 | €54,849 | €126,870 | +€72,020 | +131% |
| Deferred taxes | 168 | €54,849 | €126,870 | +€72,020 | +131% |
| Amounts payable | 17/49 | €735,859 | €366,661 | -€369,198 | -50.2% |
| Amounts payable after more than one year | 17 | €160,541 | €147,786 | -€12,756 | -7.9% |
| Financial debts | 170/4 | €160,541 | €147,786 | -€12,756 | -7.9% |
| Amounts payable within one year | 42/48 | €569,359 | €177,254 | -€392,106 | -68.9% |
| Current portion of amounts payable after more than one year | 42 | €12,613 | €12,756 | +€143 | +1.1% |
| Financial debts | 43 | €370,767 | - | -€370,767 | |
| Credit institutions | 430/8 | €370,767 | - | -€370,767 | |
| Trade debts | 44 | €22,905 | €51,346 | +€28,441 | +124% |
| Suppliers | 440/4 | €22,905 | €51,346 | +€28,441 | +124% |
| Advances received on contracts in progress | 46 | €12,000 | €3,645 | -€8,355 | -69.6% |
| Taxes, remuneration and social security | 45 | €147,972 | €102,653 | -€45,319 | -30.6% |
| Taxes | 450/3 | €147,972 | €102,653 | -€45,319 | -30.6% |
| Other amounts payable | 47/48 | €3,103 | €6,854 | +€3,751 | +121% |
| Accrued charges and deferred income | 492/3 | €5,958 | €41,621 | +€35,663 | +599% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,115 | €39,581 | -€1,534 | -3.7% |
| Other operating charges | 640/8 | €19,363 | €13,230 | -€6,132 | -31.7% |
| Gross operating margin | 9900 | €257,904 | €169,378 | -€88,526 | -34.3% |
| Operating profit (loss) | 9901 | €197,426 | €116,567 | -€80,859 | -41.0% |
| Financial income | 75/76B | €20,553 | €26,979 | +€6,425 | +31.3% |
| Recurring financial income | 75 | €20,553 | €26,979 | +€6,425 | +31.3% |
| Financial charges | 65/66B | €37,700 | €20,493 | -€17,207 | -45.6% |
| Recurring financial charges | 65 | €37,700 | €20,493 | -€17,207 | -45.6% |
| Profit (loss) for the period before taxes | 9903 | €180,280 | €123,053 | -€57,227 | -31.7% |
| Transfer from deferred taxes | 780 | €1,784 | €3,376 | +€1,591 | +89.2% |
| Income taxes | 67/77 | €64,086 | €48,797 | -€15,289 | -23.9% |
| Profit (loss) for the period | 9904 | €117,978 | €77,632 | -€40,346 | -34.2% |
| Transfer from tax-exempt reserves | 789 | €5,353 | €10,127 | +€4,774 | +89.2% |
| Profit (loss) for the period to be appropriated | 9905 | €123,331 | €87,759 | -€35,572 | -28.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.