RAVENNA: 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.
RAVENNA
Largest movements
- Receivables within one year -€390,000
down €390,000 (-45.9%), from €850,000 to €460,000
- Cash +€42,777
up €42,777 (+82.2%), from €52,052 to €94,829
mainly Net result for the year (+€2.9m) and Receivables within one year (+€390,000)
- Reserves +€2.4m
up €2.4m (+311%), from €777,148 to €3.2m
of which Distributable reserves: +€2.4m
- Other debts -€2.4m
down €2.4m (-82.7%), from €2.9m to €500,000
- Debts after one year -€342,857
no longer reported in 2025 (was €342,857)
- Financial income +€2.0m
up €2.0m (+224%), from €889,759 to €2.9m
- Financial charges -€10,419
down €10,419 (-75.2%), from €13,860 to €3,441
- Taxes +€2,154
up €2,154 (+29.3%), from €7,345 to €9,499
- Gross operating margin -€1,988
down €1,988 (-4.5%), from €44,368 to €42,379
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 | €4,085,052 | €3,765,142 | -€319,910 | -7.8% |
| Fixed assets | 21/28 | €3,183,000 | €3,207,316 | +€24,316 | +0.8% |
| Financial fixed assets | 28 | €3,183,000 | €3,207,316 | +€24,316 | +0.8% |
| Current assets | 29/58 | €902,052 | €557,826 | -€344,226 | -38.2% |
| Amounts receivable within one year | 40/41 | €850,000 | €460,000 | -€390,000 | -45.9% |
| Other amounts receivable | 41 | €850,000 | €460,000 | -€390,000 | -45.9% |
| Cash at bank and in hand | 54/58 | €52,052 | €94,829 | +€42,777 | +82.2% |
| Deferred charges and accrued income | 490/1 | - | €2,997 | +€2,997 | |
| Total equity and liabilities | 10/49 | €4,085,052 | €3,765,142 | -€319,910 | -7.8% |
| Equity | 10/15 | €839,148 | €3,253,736 | +€2.4m | +288% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €777,148 | €3,191,736 | +€2.4m | +311% |
| Non-distributable reserves | 130/1 | €2,000 | €6,200 | +€4,200 | +210% |
| Legal reserve | 130 | €2,000 | €6,200 | +€4,200 | +210% |
| Distributable reserves | 133 | €775,148 | €3,185,536 | +€2.4m | +311% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €3,245,904 | €511,406 | -€2.7m | -84.2% |
| Amounts payable after more than one year | 17 | €342,857 | - | -€342,857 | |
| Financial debts | 170/4 | €342,857 | - | -€342,857 | |
| Amounts payable within one year | 42/48 | €2,903,012 | €511,362 | -€2.4m | -82.4% |
| Trade debts | 44 | €263 | €5,635 | +€5,372 | +2,042% |
| Suppliers | 440/4 | €263 | €5,635 | +€5,372 | +2,042% |
| Taxes, remuneration and social security | 45 | €4,763 | €5,727 | +€964 | +20.2% |
| Taxes | 450/3 | €4,763 | €5,727 | +€964 | +20.2% |
| Other amounts payable | 47/48 | €2,897,986 | €500,000 | -€2.4m | -82.7% |
| Accrued charges and deferred income | 492/3 | €35 | €43 | +€8 | +23.7% |
| Other operating charges | 640/8 | €1,719 | €1,658 | -€60 | -3.5% |
| Gross operating margin | 9900 | €44,368 | €42,379 | -€1,988 | -4.5% |
| Operating profit (loss) | 9901 | €42,649 | €40,721 | -€1,928 | -4.5% |
| Financial income | 75/76B | €889,759 | €2,886,807 | +€2.0m | +224% |
| Recurring financial income | 75 | €889,759 | €2,886,807 | +€2.0m | +224% |
| Financial charges | 65/66B | €13,860 | €3,441 | -€10,419 | -75.2% |
| Recurring financial charges | 65 | €13,860 | €3,441 | -€10,419 | -75.2% |
| Profit (loss) for the period before taxes | 9903 | €918,549 | €2,924,088 | +€2.0m | +218% |
| Income taxes | 67/77 | €7,345 | €9,499 | +€2,154 | +29.3% |
| Profit (loss) for the period | 9904 | €911,203 | €2,914,588 | +€2.0m | +220% |
| Profit (loss) for the period to be appropriated | 9905 | €911,203 | €2,914,588 | +€2.0m | +220% |
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.