RAVEN HOLDING: 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.
RAVEN HOLDING
Largest movements
- Receivables within one year +€866,226
up €866,226 (+59.9%), from €1.4m to €2.3m
of which Trade receivables: +€864,353
- Financial fixed assets +€274,500
up €274,500 (+27.2%), from €1.0m to €1.3m
- Stocks and contracts +€167,995
up €167,995 (+11.6%), from €1.5m to €1.6m
- Other debts +€1.7m
up €1.7m (+260%), from €672,589 to €2.4m
- Debts after one year -€830,486
down €830,486 (-25.4%), from €3.3m to €2.4m
- Revaluation surpluses +€275,000
up €275,000 (+75.8%), from €363,000 to €638,000
- Trade debts +€88,210
up €88,210 (+117%), from €75,438 to €163,648
- Financial charges -€116,879
down €116,879 (-66.9%), from €174,818 to €57,940
- Gross operating margin -€111,826
down €111,826 (-40.8%), from €274,368 to €162,542
- Financial income -€6,617
down €6,617 (-28.7%), from €23,088 to €16,470
- Staff costs +€6,494
up €6,494 (+6.2%), from €103,983 to €110,477
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 | €4,120,430 | €5,406,857 | +€1.3m | +31.2% |
| Fixed assets | 21/28 | €1,050,802 | €1,318,229 | +€267,428 | +25.4% |
| Intangible fixed assets | 21 | €3,449 | €2,599 | -€850 | -24.6% |
| Tangible fixed assets | 22/27 | €39,353 | €33,130 | -€6,222 | -15.8% |
| Land and buildings | 22 | €35,444 | €30,052 | -€5,392 | -15.2% |
| Plant, machinery and equipment | 23 | €1,861 | €1,578 | -€283 | -15.2% |
| Furniture and vehicles | 24 | €2,048 | €1,500 | -€548 | -26.7% |
| Financial fixed assets | 28 | €1,008,000 | €1,282,500 | +€274,500 | +27.2% |
| Current assets | 29/58 | €3,069,628 | €4,088,628 | +€1.0m | +33.2% |
| Amounts receivable after more than one year | 29 | €121,000 | €145,526 | +€24,526 | +20.3% |
| Other amounts receivable | 291 | €121,000 | €145,526 | +€24,526 | +20.3% |
| Stocks and contracts in progress | 3 | €1,453,561 | €1,621,556 | +€167,995 | +11.6% |
| Stocks | 30/36 | €1,453,561 | €1,621,556 | +€167,995 | +11.6% |
| Amounts receivable within one year | 40/41 | €1,445,280 | €2,311,505 | +€866,226 | +59.9% |
| Trade receivables | 40 | €435,340 | €1,299,693 | +€864,353 | +199% |
| Other amounts receivable | 41 | €1,009,939 | €1,011,812 | +€1,873 | +0.2% |
| Cash at bank and in hand | 54/58 | €48,637 | €7,605 | -€41,033 | -84.4% |
| Deferred charges and accrued income | 490/1 | €1,150 | €2,436 | +€1,286 | +112% |
| Total equity and liabilities | 10/49 | €4,120,430 | €5,406,857 | +€1.3m | +31.2% |
| Equity | 10/15 | €55,461 | €332,666 | +€277,205 | +500% |
| Contributions | 10/11 | €9,000 | €9,000 | = | 0.0% |
| Revaluation surpluses | 12 | €363,000 | €638,000 | +€275,000 | +75.8% |
| Profit (loss) carried forward | 14 | -€316,539 | -€314,334 | +€2,205 | +0.7% |
| Amounts payable | 17/49 | €4,064,968 | €5,074,191 | +€1.0m | +24.8% |
| Amounts payable after more than one year | 17 | €3,264,852 | €2,434,366 | -€830,486 | -25.4% |
| Financial debts | 170/4 | €3,264,852 | €2,434,366 | -€830,486 | -25.4% |
| Amounts payable within one year | 42/48 | €790,379 | €2,630,088 | +€1.8m | +233% |
| Current portion of amounts payable after more than one year | 42 | €21,547 | €22,127 | +€579 | +2.7% |
| Trade debts | 44 | €75,438 | €163,648 | +€88,210 | +117% |
| Suppliers | 440/4 | €75,438 | €163,648 | +€88,210 | +117% |
| Taxes, remuneration and social security | 45 | €20,805 | €23,163 | +€2,358 | +11.3% |
| Taxes | 450/3 | €1,469 | €5,363 | +€3,894 | +265% |
| Remuneration and social security | 454/9 | €19,337 | €17,800 | -€1,536 | -7.9% |
| Other amounts payable | 47/48 | €672,589 | €2,421,149 | +€1.7m | +260% |
| Accrued charges and deferred income | 492/3 | €9,738 | €9,738 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €103,983 | €110,477 | +€6,494 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,149 | €7,072 | -€1,077 | -13.2% |
| Other operating charges | 640/8 | €3,667 | €1,319 | -€2,348 | -64.0% |
| Gross operating margin | 9900 | €274,368 | €162,542 | -€111,826 | -40.8% |
| Operating profit (loss) | 9901 | €158,569 | €43,674 | -€114,895 | -72.5% |
| Financial income | 75/76B | €23,088 | €16,470 | -€6,617 | -28.7% |
| Recurring financial income | 75 | €23,088 | €16,470 | -€6,617 | -28.7% |
| Financial charges | 65/66B | €174,818 | €57,940 | -€116,879 | -66.9% |
| Recurring financial charges | 65 | €174,818 | €57,940 | -€116,879 | -66.9% |
| Profit (loss) for the period before taxes | 9903 | €6,838 | €2,205 | -€4,633 | -67.8% |
| Profit (loss) for the period | 9904 | €6,838 | €2,205 | -€4,633 | -67.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,838 | €2,205 | -€4,633 | -67.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.