RAW S: what changed
Two fiscal 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.
RAW S
Largest movements
- Tangible fixed assets +€266,513
up €266,513 (+119.2%), from €223,509 to €490,022
- Current investments -€100,000
down €100,000 (-9.1%), from €1.1m to €1.0m
- Other debts +€149,357
up €149,357 (+10.3%), from €1.4m to €1.6m
- Profit (loss) carried forward -€16,316
down €16,316, from €2,583 to -€13,733
- Financial income -€24,889
down €24,889 (-68.2%), from €36,498 to €11,610
- Gross operating margin +€3,888
up €3,888 (+16.2%), from -€24,017 to -€20,129
- Depreciation -€1,770
down €1,770 (-22.5%), from €7,878 to €6,108
- Taxes -€646
no longer reported in 2025 (was €646)
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.
Cash bridge derived
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 | €1,468,058 | €1,612,310 | +€144,252 | +9.8% |
| Fixed assets | 21/28 | €223,509 | €490,022 | +€266,513 | +119.2% |
| Tangible fixed assets | 22/27 | €223,509 | €490,022 | +€266,513 | +119.2% |
| Land and buildings | 22 | €223,509 | €490,022 | +€266,513 | +119.2% |
| Current assets | 29/58 | €1,244,549 | €1,122,287 | -€122,261 | -9.8% |
| Amounts receivable within one year | 40/41 | €9,589 | €3,600 | -€5,989 | -62.5% |
| Other amounts receivable | 41 | €9,589 | €3,600 | -€5,989 | -62.5% |
| Current investments | 50/53 | €1,100,000 | €1,000,000 | -€100,000 | -9.1% |
| Cash at bank and in hand | 54/58 | €132,366 | €116,473 | -€15,893 | -12.0% |
| Deferred charges and accrued income | 490/1 | €2,594 | €2,215 | -€379 | -14.6% |
| Total equity and liabilities | 10/49 | €1,468,058 | €1,612,310 | +€144,252 | +9.8% |
| Equity | 10/15 | €22,583 | €6,267 | -€16,316 | -72.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,583 | -€13,733 | -€16,316 | |
| Amounts payable | 17/49 | €1,445,475 | €1,606,042 | +€160,568 | +11.1% |
| Amounts payable within one year | 42/48 | €1,443,857 | €1,604,462 | +€160,605 | +11.1% |
| Trade debts | 44 | - | €11,248 | +€11,248 | |
| Suppliers | 440/4 | - | €11,248 | +€11,248 | |
| Other amounts payable | 47/48 | €1,443,857 | €1,593,214 | +€149,357 | +10.3% |
| Accrued charges and deferred income | 492/3 | €1,618 | €1,581 | -€37 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,878 | €6,108 | -€1,770 | -22.5% |
| Other operating charges | 640/8 | €1,311 | €1,527 | +€216 | +16.5% |
| Gross operating margin | 9900 | -€24,017 | -€20,129 | +€3,888 | +16.2% |
| Operating profit (loss) | 9901 | -€33,206 | -€27,764 | +€5,442 | +16.4% |
| Financial income | 75/76B | €36,498 | €11,610 | -€24,889 | -68.2% |
| Recurring financial income | 75 | €36,498 | €11,610 | -€24,889 | -68.2% |
| Financial charges | 65/66B | €64 | €161 | +€97 | +152.2% |
| Recurring financial charges | 65 | €64 | €161 | +€97 | +152.2% |
| Profit (loss) for the period before taxes | 9903 | €3,229 | -€16,316 | -€19,544 | |
| Income taxes | 67/77 | €646 | - | -€646 | |
| Profit (loss) for the period | 9904 | €2,583 | -€16,316 | -€18,898 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,583 | -€16,316 | -€18,898 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.