RAVLIN: 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.
What changed
RAVLIN
NACE 66.199, Other activities auxiliary to financial services, excluding insurance and pension funding
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€137,461
2024 · €147,377-€9,916
Equity
€4.8m
2024 · €4.6m+€137,461
Cash
€164,321
2024 · -+€164,321
Balance sheet total
€5.1m
2024 · €4.8m+€249,442
Largest movements
Assets
- Current investments -€546,920
down €546,920 (-68.6%), from €796,920 to €250,000
- Receivables after one year +€305,109
up €305,109 (+87.2%), from €349,701 to €654,810
- Receivables within one year +€234,718
up €234,718 (+128%), from €183,880 to €418,597
- Cash +€164,321
new in 2025: €164,321
mainly Current investments (+€546,920) and Depreciation (+€161,952)
- Tangible fixed assets +€79,517
up €79,517 (+2.6%), from €3.0m to €3.1m
of which Land and buildings: +€129,849
Equity and liabilities
- Profit (loss) carried forward +€161,865
up €161,865 (+34,816%), from €465 to €162,330
- Current portion of long-term debt +€98,087
up €98,087 (+314%), from €31,250 to €129,337
Income statement
- Gross operating margin -€434,347
down €434,347 (-48.9%), from €887,968 to €453,620
- Write-downs +€286,593
up €286,593, from -€274,680 to €11,913
- Taxes -€57,003
down €57,003 (-45.3%), from €125,812 to €68,810
- Staff costs +€34,128
up €34,128 (+93.1%), from €36,673 to €70,801
- Depreciation +€10,810
up €10,810 (+7.2%), from €151,142 to €161,952
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.
Result 2024
€147,377
Gross operating margin
-€434,347
Staff costs
-€34,128
Depreciation
-€10,810
Write-downs
-€286,593
Other operating charges
+€154
Other operating items
+€739,195
Financial income
+€1,495
Financial charges
+€96
Taxes
+€57,003
Deferred taxes and other
-€41,981
Result 2025
€137,461
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€237,184
Investment
+€303,417
Financing
+€98,087
Cash 2024
€0
From operations (derived)
-€237,184
Net result for the year
+€137,461
Depreciation
+€161,952
Receivables after one year
-€305,109
Receivables within one year
-€234,718
Deferred charges and accrued income
-€10,664
Provisions
-€6,927
Trade debts
-€1,191
Tax, wage and social debts
+€2,250
Other debts
+€3,483
Accrued charges and deferred income
+€16,280
Investment (derived)
+€303,417
Investment in fixed assets (net)
-€243,503
Current investments
+€546,920
Financing
+€98,087
Current portion of long-term debt
+€98,087
Cash 2025
€164,321
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,808,737 | €5,058,179 | +€249,442 | +5.2% |
| Fixed assets | 21/28 | €3,458,753 | €3,540,304 | +€81,551 | +2.4% |
| Tangible fixed assets | 22/27 | €3,009,156 | €3,088,673 | +€79,517 | +2.6% |
| Land and buildings | 22 | €2,223,771 | €2,353,619 | +€129,849 | +5.8% |
| Plant, machinery and equipment | 23 | €781,695 | €727,966 | -€53,729 | -6.9% |
| Furniture and vehicles | 24 | €3,690 | €7,088 | +€3,398 | +92.1% |
| Financial fixed assets | 28 | €449,597 | €451,631 | +€2,034 | +0.5% |
| Current assets | 29/58 | €1,349,983 | €1,517,875 | +€167,891 | +12.4% |
| Amounts receivable after more than one year | 29 | €349,701 | €654,810 | +€305,109 | +87.2% |
| Other amounts receivable | 291 | €349,701 | €654,810 | +€305,109 | +87.2% |
| Amounts receivable within one year | 40/41 | €183,880 | €418,597 | +€234,718 | +128% |
| Other amounts receivable | 41 | €183,880 | €418,597 | +€234,718 | +128% |
| Current investments | 50/53 | €796,920 | €250,000 | -€546,920 | -68.6% |
| Cash at bank and in hand | 54/58 | - | €164,321 | +€164,321 | |
| Deferred charges and accrued income | 490/1 | €19,482 | €30,146 | +€10,664 | +54.7% |
| Total equity and liabilities | 10/49 | €4,808,737 | €5,058,179 | +€249,442 | +5.2% |
| Equity | 10/15 | €4,646,823 | €4,784,284 | +€137,461 | +3.0% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €4,627,608 | €4,603,204 | -€24,404 | -0.5% |
| Tax-exempt reserves | 132 | €375,733 | €351,329 | -€24,404 | -6.5% |
| Distributable reserves | 133 | €4,251,875 | €4,251,875 | = | 0.0% |
| Profit (loss) carried forward | 14 | €465 | €162,330 | +€161,865 | +34,816% |
| Provisions and deferred taxes | 16 | €106,672 | €99,745 | -€6,927 | -6.5% |
| Deferred taxes | 168 | €106,672 | €99,745 | -€6,927 | -6.5% |
| Amounts payable | 17/49 | €55,242 | €174,150 | +€118,908 | +215% |
| Amounts payable within one year | 42/48 | €55,242 | €157,870 | +€102,628 | +186% |
| Current portion of amounts payable after more than one year | 42 | €31,250 | €129,337 | +€98,087 | +314% |
| Trade debts | 44 | €7,654 | €6,463 | -€1,191 | -15.6% |
| Suppliers | 440/4 | €7,654 | €6,463 | -€1,191 | -15.6% |
| Taxes, remuneration and social security | 45 | €16,221 | €18,471 | +€2,250 | +13.9% |
| Taxes | 450/3 | €11,000 | €748 | -€10,252 | -93.2% |
| Remuneration and social security | 454/9 | €5,221 | €17,723 | +€12,501 | +239% |
| Other amounts payable | 47/48 | €116 | €3,599 | +€3,483 | +2,996% |
| Accrued charges and deferred income | 492/3 | - | €16,280 | +€16,280 | |
| Remuneration, social security and pensions | 62 | €36,673 | €70,801 | +€34,128 | +93.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,142 | €161,952 | +€10,810 | +7.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€274,680 | €11,913 | +€286,593 | |
| Other operating charges | 640/8 | €7,375 | €7,220 | -€154 | -2.1% |
| Non-recurring operating charges | 66A | €750,120 | €10,925 | -€739,195 | -98.5% |
| Gross operating margin | 9900 | €887,968 | €453,620 | -€434,347 | -48.9% |
| Operating profit (loss) | 9901 | €217,338 | €190,809 | -€26,529 | -12.2% |
| Financial income | 75/76B | €10,103 | €11,598 | +€1,495 | +14.8% |
| Recurring financial income | 75 | €10,103 | €11,598 | +€1,495 | +14.8% |
| Financial charges | 65/66B | €3,159 | €3,063 | -€96 | -3.0% |
| Recurring financial charges | 65 | €3,159 | €3,063 | -€96 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €224,282 | €199,344 | -€24,938 | -11.1% |
| Transfer from deferred taxes | 780 | €48,908 | €6,927 | -€41,981 | -85.8% |
| Income taxes | 67/77 | €125,812 | €68,810 | -€57,003 | -45.3% |
| Profit (loss) for the period | 9904 | €147,377 | €137,461 | -€9,916 | -6.7% |
| Transfer from tax-exempt reserves | 789 | €172,269 | €24,404 | -€147,865 | -85.8% |
| Profit (loss) for the period to be appropriated | 9905 | €319,646 | €161,865 | -€157,781 | -49.4% |
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.