RAVERPA: 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.
RAVERPA
Largest movements
- Receivables within one year +€22,180
up €22,180 (+181%), from €12,250 to €34,431
of which Other amounts receivable: +€19,560
- Tangible fixed assets -€7,891
down €7,891 (-6.9%), from €114,158 to €106,267
- Debts after one year +€6,642
up €6,642 (+15.1%), from €43,902 to €50,544
of which Financial debts: +€6,642
- Short-term financial debts +€4,068
new in 2025: €4,068
- Reserves +€3,966
up €3,966 (+8.3%), from €47,806 to €51,772
of which Distributable reserves: +€3,966
- Trade debts -€2,634
down €2,634 (-20.5%), from €12,854 to €10,220
- Gross operating margin +€2,069
up €2,069 (+15.5%), from €13,391 to €15,461
- Taxes +€831
up €831, from €0 to €831
- Financial charges +€549
up €549 (+91.7%), from €599 to €1,148
- Financial income +€412
up €412 (+1,064%), from €39 to €451
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 | €127,391 | €140,698 | +€13,307 | +10.4% |
| Fixed assets | 21/28 | €114,158 | €106,267 | -€7,891 | -6.9% |
| Tangible fixed assets | 22/27 | €114,158 | €106,267 | -€7,891 | -6.9% |
| Land and buildings | 22 | €114,158 | €106,267 | -€7,891 | -6.9% |
| Current assets | 29/58 | €13,233 | €34,431 | +€21,198 | +160% |
| Amounts receivable within one year | 40/41 | €12,250 | €34,431 | +€22,180 | +181% |
| Trade receivables | 40 | €4,934 | €7,554 | +€2,620 | +53.1% |
| Other amounts receivable | 41 | €7,317 | €26,877 | +€19,560 | +267% |
| Cash at bank and in hand | 54/58 | €982 | €0 | -€982 | -100% |
| Total equity and liabilities | 10/49 | €127,391 | €140,698 | +€13,307 | +10.4% |
| Equity | 10/15 | €66,398 | €70,364 | +€3,966 | +6.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €47,806 | €51,772 | +€3,966 | +8.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €45,946 | €49,913 | +€3,966 | +8.6% |
| Amounts payable | 17/49 | €60,993 | €70,334 | +€9,340 | +15.3% |
| Amounts payable after more than one year | 17 | €43,902 | €50,544 | +€6,642 | +15.1% |
| Financial debts | 170/4 | €690 | €7,332 | +€6,642 | +963% |
| Other amounts payable | 178/9 | €43,212 | €43,212 | = | 0.0% |
| Amounts payable within one year | 42/48 | €17,092 | €19,790 | +€2,698 | +15.8% |
| Current portion of amounts payable after more than one year | 42 | €4,009 | €4,460 | +€450 | +11.2% |
| Financial debts | 43 | - | €4,068 | +€4,068 | |
| Credit institutions | 430/8 | - | €4,068 | +€4,068 | |
| Trade debts | 44 | €12,854 | €10,220 | -€2,634 | -20.5% |
| Suppliers | 440/4 | €12,854 | €10,220 | -€2,634 | -20.5% |
| Taxes, remuneration and social security | 45 | €228 | €1,042 | +€814 | +356% |
| Taxes | 450/3 | €228 | €1,042 | +€814 | +356% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,891 | €7,891 | = | 0.0% |
| Other operating charges | 640/8 | €2,108 | €2,075 | -€34 | -1.6% |
| Gross operating margin | 9900 | €13,391 | €15,461 | +€2,069 | +15.5% |
| Operating profit (loss) | 9901 | €3,392 | €5,495 | +€2,103 | +62.0% |
| Financial income | 75/76B | €39 | €451 | +€412 | +1,064% |
| Recurring financial income | 75 | €39 | €451 | +€412 | +1,064% |
| Financial charges | 65/66B | €599 | €1,148 | +€549 | +91.7% |
| Recurring financial charges | 65 | €599 | €1,148 | +€549 | +91.7% |
| Profit (loss) for the period before taxes | 9903 | €2,831 | €4,798 | +€1,966 | +69.4% |
| Income taxes | 67/77 | €0 | €831 | +€831 | |
| Profit (loss) for the period | 9904 | €2,831 | €3,966 | +€1,135 | +40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,831 | €3,966 | +€1,135 | +40.1% |
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 26 October 2026 via checked.be.