RAVEN PROJECTS II: 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 PROJECTS II
Largest movements
- Tangible fixed assets -€745,189
down €745,189 (-100%), from €745,189 to €0
- Receivables within one year +€12,600
up €12,600 (+9.3%), from €135,036 to €147,636
of which Other amounts receivable: +€12,600
- Revaluation surpluses -€331,625
down €331,625 (-100%), from €331,625 to €0
- Other debts -€294,500
down €294,500 (-49.9%), from €590,711 to €296,211
- Profit (loss) carried forward -€110,986
down €110,986 (-109%), from -€101,672 to -€212,658
- Financial charges -€19,755
down €19,755 (-58.9%), from €33,543 to €13,788
- Financial income -€8,878
down €8,878 (-100%), from €8,878 to €0
- Purchases and services +€4,240
new in 2025: €4,240
- Gross operating margin +€333
up €333 (+7.3%), from -€4,573 to -€4,240
- Other operating charges +€218
up €218 (+43.2%), from €505 to €723
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 | €883,515 | €148,181 | -€735,334 | -83.2% |
| Fixed assets | 21/28 | €745,189 | €0 | -€745,189 | -100% |
| Tangible fixed assets | 22/27 | €745,189 | €0 | -€745,189 | -100% |
| Land and buildings | 22 | €745,189 | €0 | -€745,189 | -100% |
| Current assets | 29/58 | €138,325 | €148,181 | +€9,856 | +7.1% |
| Amounts receivable within one year | 40/41 | €135,036 | €147,636 | +€12,600 | +9.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €135,036 | €147,636 | +€12,600 | +9.3% |
| Cash at bank and in hand | 54/58 | €316 | €545 | +€228 | +72.2% |
| Deferred charges and accrued income | 490/1 | €2,973 | €0 | -€2,973 | -100% |
| Total equity and liabilities | 10/49 | €883,515 | €148,181 | -€735,334 | -83.2% |
| Equity | 10/15 | €291,926 | -€150,684 | -€442,611 | |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Revaluation surpluses | 12 | €331,625 | €0 | -€331,625 | -100% |
| Profit (loss) carried forward | 14 | -€101,672 | -€212,658 | -€110,986 | -109% |
| Amounts payable | 17/49 | €591,588 | €298,865 | -€292,723 | -49.5% |
| Amounts payable within one year | 42/48 | €591,201 | €298,865 | -€292,336 | -49.4% |
| Trade debts | 44 | €490 | €2,654 | +€2,164 | +442% |
| Suppliers | 440/4 | €490 | €2,654 | +€2,164 | +442% |
| Other amounts payable | 47/48 | €590,711 | €296,211 | -€294,500 | -49.9% |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €4,240 | +€4,240 | |
| Other operating charges | 640/8 | €505 | €723 | +€218 | +43.2% |
| Non-recurring operating charges | 66A | - | €92,234 | +€92,234 | |
| Gross operating margin | 9900 | -€4,573 | -€4,240 | +€333 | +7.3% |
| Operating profit (loss) | 9901 | -€5,079 | -€97,198 | -€92,119 | -1,814% |
| Financial income | 75/76B | €8,878 | €0 | -€8,878 | -100% |
| Recurring financial income | 75 | €8,878 | €0 | -€8,878 | -100% |
| Financial charges | 65/66B | €33,543 | €13,788 | -€19,755 | -58.9% |
| Recurring financial charges | 65 | €33,543 | €13,788 | -€19,755 | -58.9% |
| Profit (loss) for the period before taxes | 9903 | -€29,744 | -€110,986 | -€81,242 | -273% |
| Profit (loss) for the period | 9904 | -€29,744 | -€110,986 | -€81,242 | -273% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,744 | -€110,986 | -€81,242 | -273% |
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 13 October 2026 via checked.be.