RAVENDER: 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.
RAVENDER
Largest movements
- Current investments +€104,764
up €104,764 (+261.9%), from €40,000 to €144,764
- Cash -€66,894
down €66,894 (-29.7%), from €225,425 to €158,531
mainly Current investments (-€104,764) and Investment in fixed assets (net) (-€15,476)
- Tangible fixed assets +€7,720
up €7,720 (+96.5%), from €8,001 to €15,721
of which Other tangible fixed assets: +€13,485
- Reserves +€39,435
up €39,435 (+529.8%), from €7,443 to €46,878
of which Distributable reserves: +€39,435
- Tax, wage and social debts +€13,545
up €13,545 (+71.9%), from €18,845 to €32,390
- Other debts -€9,139
down €9,139 (-29.8%), from €30,697 to €21,558
- Financial income +€38,181
up €38,181 (+8991.7%), from €425 to €38,605
- Taxes +€13,034
up €13,034 (+117.0%), from €11,141 to €24,175
- Gross operating margin -€4,772
down €4,772 (-11.0%), from €43,366 to €38,593
- Financial charges +€4,389
up €4,389 (+1572.3%), from €279 to €4,668
- Other operating charges -€1,495
down €1,495 (-56.2%), from €2,660 to €1,165
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 | €395,736 | €441,044 | +€45,308 | +11.4% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €108,001 | €115,721 | +€7,720 | +7.1% |
| Tangible fixed assets | 22/27 | €8,001 | €15,721 | +€7,720 | +96.5% |
| Furniture and vehicles | 24 | €1,817 | €2,236 | +€418 | +23.0% |
| Leasing and similar rights | 25 | €6,184 | €0 | -€6,184 | -100.0% |
| Other tangible fixed assets | 26 | - | €13,485 | +€13,485 | |
| Financial fixed assets | 28 | €100,000 | €100,000 | = | 0.0% |
| Current assets | 29/58 | €287,735 | €325,323 | +€37,588 | +13.1% |
| Amounts receivable within one year | 40/41 | €20,617 | €21,330 | +€713 | +3.5% |
| Trade receivables | 40 | €18,425 | €19,321 | +€896 | +4.9% |
| Other amounts receivable | 41 | €2,192 | €2,009 | -€183 | -8.3% |
| Current investments | 50/53 | €40,000 | €144,764 | +€104,764 | +261.9% |
| Cash at bank and in hand | 54/58 | €225,425 | €158,531 | -€66,894 | -29.7% |
| Deferred charges and accrued income | 490/1 | €1,693 | €698 | -€996 | -58.8% |
| Total equity and liabilities | 10/49 | €395,736 | €441,044 | +€45,308 | +11.4% |
| Equity | 10/15 | €340,874 | €380,309 | +€39,435 | +11.6% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €7,443 | €46,878 | +€39,435 | +529.8% |
| Tax-exempt reserves | 132 | €3,943 | €3,943 | = | 0.0% |
| Distributable reserves | 133 | €3,500 | €42,935 | +€39,435 | +1126.7% |
| Profit (loss) carried forward | 14 | €298,431 | €298,431 | = | 0.0% |
| Amounts payable | 17/49 | €54,862 | €60,734 | +€5,873 | +10.7% |
| Amounts payable within one year | 42/48 | €54,862 | €60,734 | +€5,873 | +10.7% |
| Trade debts | 44 | €5,319 | €6,786 | +€1,467 | +27.6% |
| Suppliers | 440/4 | €5,319 | €6,786 | +€1,467 | +27.6% |
| Taxes, remuneration and social security | 45 | €18,845 | €32,390 | +€13,545 | +71.9% |
| Taxes | 450/3 | €18,845 | €32,390 | +€13,545 | +71.9% |
| Other amounts payable | 47/48 | €30,697 | €21,558 | -€9,139 | -29.8% |
| Non-recurring operating income | 76A | €5,294 | - | -€5,294 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,122 | €7,756 | -€366 | -4.5% |
| Other operating charges | 640/8 | €2,660 | €1,165 | -€1,495 | -56.2% |
| Gross operating margin | 9900 | €43,366 | €38,593 | -€4,772 | -11.0% |
| Operating profit (loss) | 9901 | €32,584 | €29,673 | -€2,912 | -8.9% |
| Financial income | 75/76B | €425 | €38,605 | +€38,181 | +8991.7% |
| Recurring financial income | 75 | €425 | €38,605 | +€38,181 | +8991.7% |
| Financial charges | 65/66B | €279 | €4,668 | +€4,389 | +1572.3% |
| Recurring financial charges | 65 | €279 | €4,668 | +€4,389 | +1572.3% |
| Profit (loss) for the period before taxes | 9903 | €32,730 | €63,609 | +€30,880 | +94.3% |
| Income taxes | 67/77 | €11,141 | €24,175 | +€13,034 | +117.0% |
| Profit (loss) for the period | 9904 | €21,589 | €39,435 | +€17,846 | +82.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,589 | €39,435 | +€17,846 | +82.7% |
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 12 October 2026 via checked.be.