RAVERCO: 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.
RAVERCO
Largest movements
- Stocks and contracts +€527,921
up €527,921 (+29.2%), from €1.8m to €2.3m
- Current investments -€300,000
down €300,000 (-23.1%), from €1.3m to €1.0m
- Cash +€216,731
up €216,731 (+77.2%), from €280,914 to €497,645
mainly Net result for the year (+€484,911) and Current investments (+€300,000)
- Receivables within one year -€174,695
down €174,695 (-12.2%), from €1.4m to €1.3m
of which Other amounts receivable: -€129,481
- Profit (loss) carried forward +€484,911
up €484,911 (+81.3%), from €596,710 to €1.1m
- Trade debts -€342,088
down €342,088 (-52.2%), from €655,554 to €313,466
- Other debts +€123,075
up €123,075 (+18.9%), from €651,925 to €775,000
- Staff costs +€300,889
up €300,889 (+163%), from €185,139 to €486,028
- Gross operating margin +€179,567
up €179,567 (+17.6%), from €1.0m to €1.2m
- Taxes -€35,292
down €35,292 (-17.4%), from €202,571 to €167,279
- Financial charges +€25,381
up €25,381 (+73.5%), from €34,551 to €59,932
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 | €4,899,779 | €5,145,072 | +€245,293 | +5.0% |
| Fixed assets | 21/28 | €83,695 | €59,031 | -€24,664 | -29.5% |
| Tangible fixed assets | 22/27 | €83,695 | €59,031 | -€24,664 | -29.5% |
| Land and buildings | 22 | €1,644 | €1,096 | -€548 | -33.3% |
| Furniture and vehicles | 24 | €82,051 | €57,935 | -€24,116 | -29.4% |
| Current assets | 29/58 | €4,816,084 | €5,086,041 | +€269,957 | +5.6% |
| Stocks and contracts in progress | 3 | €1,805,096 | €2,333,017 | +€527,921 | +29.2% |
| Stocks | 30/36 | €1,805,096 | €2,333,017 | +€527,921 | +29.2% |
| Amounts receivable within one year | 40/41 | €1,430,074 | €1,255,379 | -€174,695 | -12.2% |
| Trade receivables | 40 | €1,213,970 | €1,168,756 | -€45,214 | -3.7% |
| Other amounts receivable | 41 | €216,104 | €86,623 | -€129,481 | -59.9% |
| Current investments | 50/53 | €1,300,000 | €1,000,000 | -€300,000 | -23.1% |
| Cash at bank and in hand | 54/58 | €280,914 | €497,645 | +€216,731 | +77.2% |
| Total equity and liabilities | 10/49 | €4,899,779 | €5,145,072 | +€245,293 | +5.0% |
| Equity | 10/15 | €3,505,660 | €3,990,571 | +€484,911 | +13.8% |
| Contributions | 10/11 | €1,524,000 | €1,524,000 | = | 0.0% |
| Capital | 10 | €1,524,000 | €1,524,000 | = | 0.0% |
| Issued capital | 100 | €1,524,000 | €1,524,000 | = | 0.0% |
| Reserves | 13 | €1,384,950 | €1,384,950 | = | 0.0% |
| Non-distributable reserves | 130/1 | €152,400 | €152,400 | = | 0.0% |
| Legal reserve | 130 | €152,400 | €152,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,460 | €7,460 | = | 0.0% |
| Distributable reserves | 133 | €1,225,090 | €1,225,090 | = | 0.0% |
| Profit (loss) carried forward | 14 | €596,710 | €1,081,621 | +€484,911 | +81.3% |
| Amounts payable | 17/49 | €1,394,119 | €1,154,501 | -€239,618 | -17.2% |
| Amounts payable after more than one year | 17 | €43,074 | €30,152 | -€12,922 | -30.0% |
| Financial debts | 170/4 | €43,074 | €30,152 | -€12,922 | -30.0% |
| Amounts payable within one year | 42/48 | €1,351,045 | €1,124,349 | -€226,696 | -16.8% |
| Current portion of amounts payable after more than one year | 42 | €12,922 | €12,922 | = | 0.0% |
| Trade debts | 44 | €655,554 | €313,466 | -€342,088 | -52.2% |
| Suppliers | 440/4 | €655,554 | €313,466 | -€342,088 | -52.2% |
| Taxes, remuneration and social security | 45 | €30,644 | €22,961 | -€7,683 | -25.1% |
| Taxes | 450/3 | €988 | €2,422 | +€1,434 | +145% |
| Remuneration and social security | 454/9 | €29,656 | €20,539 | -€9,117 | -30.7% |
| Other amounts payable | 47/48 | €651,925 | €775,000 | +€123,075 | +18.9% |
| Non-recurring operating income | 76A | €199,697 | - | -€199,697 | |
| Remuneration, social security and pensions | 62 | €185,139 | €486,028 | +€300,889 | +163% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,950 | €24,664 | +€1,714 | +7.5% |
| Gross operating margin | 9900 | €1,018,690 | €1,198,257 | +€179,567 | +17.6% |
| Operating profit (loss) | 9901 | €810,601 | €687,565 | -€123,036 | -15.2% |
| Financial income | 75/76B | €24,831 | €24,557 | -€274 | -1.1% |
| Recurring financial income | 75 | €24,831 | €24,557 | -€274 | -1.1% |
| Financial charges | 65/66B | €34,551 | €59,932 | +€25,381 | +73.5% |
| Recurring financial charges | 65 | €34,551 | €59,932 | +€25,381 | +73.5% |
| Profit (loss) for the period before taxes | 9903 | €800,881 | €652,190 | -€148,691 | -18.6% |
| Income taxes | 67/77 | €202,571 | €167,279 | -€35,292 | -17.4% |
| Profit (loss) for the period | 9904 | €598,310 | €484,911 | -€113,399 | -19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €598,310 | €484,911 | -€113,399 | -19.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.