RAVEN'S FLEET: 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'S FLEET
Largest movements
- Receivables within one year -€39,114
down €39,114 (-51.7%), from €75,638 to €36,524
of which Other amounts receivable: -€25,090
- Cash -€7,203
down €7,203 (-44.6%), from €16,132 to €8,929
mainly Other debts (-€31,000) and Trade debts (-€18,122)
- Tangible fixed assets -€2,470
down €2,470 (-32.1%), from €7,694 to €5,224
of which Furniture and vehicles: -€3,595
- Deferred charges and accrued income -€2,043
down €2,043 (-98.8%), from €2,068 to €25
- Other debts -€31,000
no longer reported in 2025 (was €31,000)
- Trade debts -€18,122
down €18,122 (-53.4%), from €33,952 to €15,830
- Tax, wage and social debts -€7,907
down €7,907 (-39.3%), from €20,142 to €12,235
of which Taxes: -€6,109
- Profit (loss) carried forward +€6,199
up €6,199 (+42.9%), from €14,439 to €20,638
- Gross operating margin -€21,377
down €21,377 (-44.5%), from €48,041 to €26,665
- Staff costs -€5,699
down €5,699 (-49.1%), from €11,609 to €5,911
- Other operating charges -€4,150
down €4,150 (-72.3%), from €5,742 to €1,592
- Taxes +€2,278
up €2,278 (+79.3%), from €2,872 to €5,151
- Depreciation +€1,515
up €1,515 (+67.7%), from €2,240 to €3,755
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.
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 | €101,533 | €50,703 | -€50,830 | -50.1% |
| Fixed assets | 21/28 | €7,694 | €5,224 | -€2,470 | -32.1% |
| Tangible fixed assets | 22/27 | €7,694 | €5,224 | -€2,470 | -32.1% |
| Plant, machinery and equipment | 23 | - | €1,125 | +€1,125 | |
| Furniture and vehicles | 24 | €7,694 | €4,099 | -€3,595 | -46.7% |
| Current assets | 29/58 | €93,838 | €45,478 | -€48,360 | -51.5% |
| Amounts receivable within one year | 40/41 | €75,638 | €36,524 | -€39,114 | -51.7% |
| Trade receivables | 40 | €43,959 | €29,935 | -€14,024 | -31.9% |
| Other amounts receivable | 41 | €31,679 | €6,589 | -€25,090 | -79.2% |
| Cash at bank and in hand | 54/58 | €16,132 | €8,929 | -€7,203 | -44.6% |
| Deferred charges and accrued income | 490/1 | €2,068 | €25 | -€2,043 | -98.8% |
| Total equity and liabilities | 10/49 | €101,533 | €50,703 | -€50,830 | -50.1% |
| Equity | 10/15 | €16,439 | €22,638 | +€6,199 | +37.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Contributions outside capital | 11 | €2,000 | €2,000 | = | 0.0% |
| Other | 1109/19 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,439 | €20,638 | +€6,199 | +42.9% |
| Amounts payable | 17/49 | €85,094 | €28,065 | -€57,029 | -67.0% |
| Amounts payable within one year | 42/48 | €85,094 | €28,065 | -€57,029 | -67.0% |
| Trade debts | 44 | €33,952 | €15,830 | -€18,122 | -53.4% |
| Suppliers | 440/4 | €33,952 | €15,830 | -€18,122 | -53.4% |
| Taxes, remuneration and social security | 45 | €20,142 | €12,235 | -€7,907 | -39.3% |
| Taxes | 450/3 | €17,965 | €11,857 | -€6,109 | -34.0% |
| Remuneration and social security | 454/9 | €2,177 | €378 | -€1,798 | -82.6% |
| Other amounts payable | 47/48 | €31,000 | - | -€31,000 | |
| Remuneration, social security and pensions | 62 | €11,609 | €5,911 | -€5,699 | -49.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,240 | €3,755 | +€1,515 | +67.7% |
| Other operating charges | 640/8 | €5,742 | €1,592 | -€4,150 | -72.3% |
| Gross operating margin | 9900 | €48,041 | €26,665 | -€21,377 | -44.5% |
| Operating profit (loss) | 9901 | €28,450 | €15,407 | -€13,043 | -45.8% |
| Financial income | 75/76B | €1,937 | €1,100 | -€837 | -43.2% |
| Recurring financial income | 75 | €1,937 | €1,100 | -€837 | -43.2% |
| Financial charges | 65/66B | €4,011 | €5,157 | +€1,146 | +28.6% |
| Recurring financial charges | 65 | €4,011 | €5,157 | +€1,146 | +28.6% |
| Profit (loss) for the period before taxes | 9903 | €26,376 | €11,350 | -€15,026 | -57.0% |
| Income taxes | 67/77 | €2,872 | €5,151 | +€2,278 | +79.3% |
| Profit (loss) for the period | 9904 | €23,503 | €6,199 | -€17,304 | -73.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,503 | €6,199 | -€17,304 | -73.6% |
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 22 October 2026 via checked.be.