RAWEBO: what changed
RAWEBO
Largest movements
- Stocks and contracts +€305,569
up €305,569 (+193%), from €158,073 to €463,642
of which Stocks: +€316,069
- Cash +€70,483
up €70,483 (+285%), from €24,729 to €95,212
mainly Short-term financial debts (+€300,000) and Debts after one year (+€47,913)
- Tangible fixed assets -€18,153
down €18,153 (-28.2%), from €64,405 to €46,252
of which Furniture and vehicles: -€14,498
- Short-term financial debts +€300,000
new in 2025: €300,000
- Debts after one year +€47,913
up €47,913 (+22.7%), from €211,006 to €258,919
of which Other amounts payable: +€57,000
- Profit (loss) carried forward +€12,704
up €12,704 (+12.4%), from -€102,187 to -€89,483
- Gross operating margin +€18,731
up €18,731 (+82.4%), from €22,746 to €41,477
- Staff costs -€11,868
down €11,868 (-60.2%), from €19,724 to €7,856
- Depreciation -€2,821
down €2,821 (-13.5%), from €20,975 to €18,153
- Other operating charges -€2,419
down €2,419 (-59.1%), from €4,096 to €1,676
- Financial charges -€840
down €840 (-40.4%), from €2,078 to €1,239
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 | €274,231 | €637,955 | +€363,724 | +133% |
| Fixed assets | 21/28 | €64,405 | €46,252 | -€18,153 | -28.2% |
| Tangible fixed assets | 22/27 | €64,405 | €46,252 | -€18,153 | -28.2% |
| Land and buildings | 22 | €13,890 | €13,118 | -€772 | -5.6% |
| Plant, machinery and equipment | 23 | €17,286 | €14,403 | -€2,883 | -16.7% |
| Furniture and vehicles | 24 | €33,229 | €18,731 | -€14,498 | -43.6% |
| Current assets | 29/58 | €209,826 | €591,703 | +€381,877 | +182% |
| Stocks and contracts in progress | 3 | €158,073 | €463,642 | +€305,569 | +193% |
| Stocks | 30/36 | €145,573 | €461,642 | +€316,069 | +217% |
| Contracts in progress | 37 | €12,500 | €2,000 | -€10,500 | -84.0% |
| Amounts receivable within one year | 40/41 | €27,024 | €32,849 | +€5,825 | +21.6% |
| Trade receivables | 40 | €1,960 | €20,453 | +€18,493 | +943% |
| Other amounts receivable | 41 | €25,064 | €12,396 | -€12,668 | -50.5% |
| Cash at bank and in hand | 54/58 | €24,729 | €95,212 | +€70,483 | +285% |
| Total equity and liabilities | 10/49 | €274,231 | €637,955 | +€363,724 | +133% |
| Equity | 10/15 | €18,148 | €30,852 | +€12,704 | +70.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €100,335 | €100,335 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €98,335 | €98,335 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€102,187 | -€89,483 | +€12,704 | +12.4% |
| Amounts payable | 17/49 | €256,083 | €607,104 | +€351,020 | +137% |
| Amounts payable after more than one year | 17 | €211,006 | €258,919 | +€47,913 | +22.7% |
| Financial debts | 170/4 | €13,478 | €4,391 | -€9,087 | -67.4% |
| Other amounts payable | 178/9 | €197,528 | €254,528 | +€57,000 | +28.9% |
| Amounts payable within one year | 42/48 | €45,077 | €348,185 | +€303,108 | +672% |
| Current portion of amounts payable after more than one year | 42 | €14,219 | €9,087 | -€5,131 | -36.1% |
| Financial debts | 43 | - | €300,000 | +€300,000 | |
| Credit institutions | 430/8 | - | €300,000 | +€300,000 | |
| Trade debts | 44 | €23,549 | €27,059 | +€3,511 | +14.9% |
| Suppliers | 440/4 | €23,549 | €27,059 | +€3,511 | +14.9% |
| Taxes, remuneration and social security | 45 | €6,833 | €11,221 | +€4,388 | +64.2% |
| Taxes | 450/3 | €731 | €644 | -€87 | -11.9% |
| Remuneration and social security | 454/9 | €6,102 | €10,577 | +€4,476 | +73.3% |
| Other amounts payable | 47/48 | €476 | €817 | +€340 | +71.5% |
| Remuneration, social security and pensions | 62 | €19,724 | €7,856 | -€11,868 | -60.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,975 | €18,153 | -€2,821 | -13.5% |
| Other operating charges | 640/8 | €4,096 | €1,676 | -€2,419 | -59.1% |
| Gross operating margin | 9900 | €22,746 | €41,477 | +€18,731 | +82.4% |
| Operating profit (loss) | 9901 | -€22,049 | €13,792 | +€35,840 | |
| Financial income | 75/76B | €104 | €151 | +€47 | +45.0% |
| Recurring financial income | 75 | €104 | €151 | +€47 | +45.0% |
| Financial charges | 65/66B | €2,078 | €1,239 | -€840 | -40.4% |
| Recurring financial charges | 65 | €2,078 | €1,239 | -€840 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | -€24,023 | €12,704 | +€36,727 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€24,023 | €12,704 | +€36,727 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,023 | €12,704 | +€36,727 |
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 5 November 2026 via checked.be.