RAVESCHOT & GEUSENS: what changed
RAVESCHOT & GEUSENS
Largest movements
- Current investments -€333,645
down €333,645 (-26.3%), from €1.3m to €936,278
- Cash +€59,745
up €59,745 (+178%), from €33,622 to €93,367
mainly Current investments (+€333,645) and Net result for the year (+€85,117)
- Reserves -€283,583
down €283,583 (-22.0%), from €1.3m to €1.0m
- Other debts +€25,128
up €25,128 (+175%), from €14,389 to €39,517
- Trade debts -€14,672
down €14,672 (-86.7%), from €16,916 to €2,245
- Financial charges +€69,048
up €69,048, from -€58,495 to €10,554
- Taxes -€14,991
down €14,991 (-24.9%), from €60,241 to €45,250
- Gross operating margin -€14,610
down €14,610 (-10.0%), from €146,430 to €131,820
- Financial income -€7,314
down €7,314 (-28.2%), from €25,969 to €18,655
- Depreciation +€7,263
up €7,263 (+713%), from €1,018 to €8,281
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,355,203 | €1,073,930 | -€281,273 | -20.8% |
| Fixed assets | 21/28 | €42,640 | €34,359 | -€8,281 | -19.4% |
| Tangible fixed assets | 22/27 | €38,691 | €30,409 | -€8,281 | -21.4% |
| Plant, machinery and equipment | 23 | €3,701 | €2,266 | -€1,435 | -38.8% |
| Furniture and vehicles | 24 | €34,989 | €28,143 | -€6,846 | -19.6% |
| Financial fixed assets | 28 | €3,950 | €3,950 | = | 0.0% |
| Current assets | 29/58 | €1,312,563 | €1,039,571 | -€272,992 | -20.8% |
| Amounts receivable within one year | 40/41 | €8,047 | €9,924 | +€1,877 | +23.3% |
| Trade receivables | 40 | €8,047 | €9,924 | +€1,877 | +23.3% |
| Current investments | 50/53 | €1,269,923 | €936,278 | -€333,645 | -26.3% |
| Cash at bank and in hand | 54/58 | €33,622 | €93,367 | +€59,745 | +178% |
| Deferred charges and accrued income | 490/1 | €971 | €1 | -€969 | -99.9% |
| Total equity and liabilities | 10/49 | €1,355,203 | €1,073,930 | -€281,273 | -20.8% |
| Equity | 10/15 | €1,310,359 | €1,026,776 | -€283,583 | -21.6% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €1,288,359 | €1,004,776 | -€283,583 | -22.0% |
| Distributable reserves | 133 | €1,288,359 | €1,004,776 | -€283,583 | -22.0% |
| Amounts payable | 17/49 | €44,844 | €47,154 | +€2,310 | +5.2% |
| Amounts payable within one year | 42/48 | €44,844 | €47,154 | +€2,310 | +5.2% |
| Financial debts | 43 | €444 | - | -€444 | |
| Credit institutions | 430/8 | €444 | - | -€444 | |
| Trade debts | 44 | €16,916 | €2,245 | -€14,672 | -86.7% |
| Suppliers | 440/4 | €16,916 | €2,245 | -€14,672 | -86.7% |
| Taxes, remuneration and social security | 45 | €13,095 | €5,393 | -€7,703 | -58.8% |
| Taxes | 450/3 | €13,095 | €5,393 | -€7,703 | -58.8% |
| Other amounts payable | 47/48 | €14,389 | €39,517 | +€25,128 | +175% |
| Non-recurring operating income | 76A | €11,783 | €10,000 | -€1,783 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,018 | €8,281 | +€7,263 | +713% |
| Other operating charges | 640/8 | €1,555 | €1,273 | -€282 | -18.1% |
| Gross operating margin | 9900 | €146,430 | €131,820 | -€14,610 | -10.0% |
| Operating profit (loss) | 9901 | €143,857 | €122,266 | -€21,591 | -15.0% |
| Financial income | 75/76B | €25,969 | €18,655 | -€7,314 | -28.2% |
| Recurring financial income | 75 | €25,969 | €18,655 | -€7,314 | -28.2% |
| Financial charges | 65/66B | -€58,495 | €10,554 | +€69,048 | |
| Recurring financial charges | 65 | -€58,495 | €10,554 | +€69,048 | |
| Profit (loss) for the period before taxes | 9903 | €228,321 | €130,367 | -€97,954 | -42.9% |
| Income taxes | 67/77 | €60,241 | €45,250 | -€14,991 | -24.9% |
| Profit (loss) for the period | 9904 | €168,080 | €85,117 | -€82,963 | -49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €168,080 | €85,117 | -€82,963 | -49.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.