RAW16: 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.
RAW16
Largest movements
- Tangible fixed assets -€10,016
down €10,016 (-7.7%), from €130,765 to €120,750
of which Plant, machinery and equipment: -€10,016
- Intangible fixed assets -€5,208
down €5,208 (-33.4%), from €15,587 to €10,379
- Profit (loss) carried forward -€36,428
down €36,428 (-25.8%), from -€141,387 to -€177,815
- Other debts +€21,236
up €21,236 (+8.9%), from €237,850 to €259,086
- Gross operating margin +€9,928
up €9,928 (+35.9%), from -€27,637 to -€17,709
- Depreciation -€2,680
down €2,680 (-12.8%), from €20,999 to €18,319
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 | €146,627 | €131,313 | -€15,314 | -10.4% |
| Fixed assets | 21/28 | €146,352 | €131,129 | -€15,223 | -10.4% |
| Intangible fixed assets | 21 | €15,587 | €10,379 | -€5,208 | -33.4% |
| Tangible fixed assets | 22/27 | €130,765 | €120,750 | -€10,016 | -7.7% |
| Plant, machinery and equipment | 23 | €19,509 | €9,493 | -€10,016 | -51.3% |
| Assets under construction and advance payments | 27 | €111,257 | €111,257 | = | 0.0% |
| Current assets | 29/58 | €274 | €184 | -€91 | -33.0% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €274 | €184 | -€91 | -33.0% |
| Total equity and liabilities | 10/49 | €146,627 | €131,313 | -€15,314 | -10.4% |
| Equity | 10/15 | -€91,387 | -€127,815 | -€36,428 | -39.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€141,387 | -€177,815 | -€36,428 | -25.8% |
| Amounts payable | 17/49 | €238,013 | €259,127 | +€21,114 | +8.9% |
| Amounts payable within one year | 42/48 | €238,013 | €259,127 | +€21,114 | +8.9% |
| Trade debts | 44 | €163 | €41 | -€122 | -74.6% |
| Suppliers | 440/4 | €163 | €41 | -€122 | -74.6% |
| Other amounts payable | 47/48 | €237,850 | €259,086 | +€21,236 | +8.9% |
| Non-recurring operating income | 76A | €0 | €997 | +€997 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,999 | €18,319 | -€2,680 | -12.8% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€27,637 | -€17,709 | +€9,928 | +35.9% |
| Operating profit (loss) | 9901 | -€49,024 | -€36,428 | +€12,595 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | -€49,024 | -€36,428 | +€12,595 | +25.7% |
| Profit (loss) for the period | 9904 | -€49,024 | -€36,428 | +€12,595 | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,024 | -€36,428 | +€12,595 | +25.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.