RAWL: 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.
RAWL
Largest movements
- Receivables within one year +€14,006
new in 2025: €14,006
of which Trade receivables: +€9,075
- Tangible fixed assets -€7,241
down €7,241 (-39.3%), from €18,414 to €11,173
of which Furniture and vehicles: -€6,852
- Cash -€3,012
down €3,012 (-34.6%), from €8,713 to €5,701
mainly Receivables within one year (-€14,006) and Accrued charges and deferred income (-€12,010)
- Other debts +€13,221
new in 2025: €13,221
- Accrued charges and deferred income -€12,010
no longer reported in 2025 (was €12,010)
- Trade debts -€9,626
no longer reported in 2025 (was €9,626)
of which Bills of exchange payable: -€9,075
- Tax, wage and social debts +€7,132
up €7,132 (+647.4%), from €1,102 to €8,233
- Reserves +€5,036
up €5,036 (+22.9%), from €21,950 to €26,986
- Depreciation +€3,465
up €3,465 (+91.7%), from €3,776 to €7,241
- Gross operating margin +€2,561
up €2,561 (+16.9%), from €15,199 to €17,760
- Financial income -€2,034
no longer reported in 2025 (was €2,034)
- Taxes +€1,963
up €1,963 (+304.2%), from €645 to €2,609
- Other operating charges +€1,656
up €1,656 (+187.2%), from €885 to €2,541
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 | €27,128 | €30,881 | +€3,753 | +13.8% |
| Fixed assets | 21/28 | €18,414 | €11,173 | -€7,241 | -39.3% |
| Tangible fixed assets | 22/27 | €18,414 | €11,173 | -€7,241 | -39.3% |
| Plant, machinery and equipment | 23 | €1,145 | €755 | -€390 | -34.0% |
| Furniture and vehicles | 24 | €17,270 | €10,418 | -€6,852 | -39.7% |
| Current assets | 29/58 | €8,713 | €19,707 | +€10,994 | +126.2% |
| Amounts receivable within one year | 40/41 | - | €14,006 | +€14,006 | |
| Trade receivables | 40 | - | €9,075 | +€9,075 | |
| Other amounts receivable | 41 | - | €4,931 | +€4,931 | |
| Cash at bank and in hand | 54/58 | €8,713 | €5,701 | -€3,012 | -34.6% |
| Total equity and liabilities | 10/49 | €27,128 | €30,881 | +€3,753 | +13.8% |
| Equity | 10/15 | €4,390 | €9,427 | +€5,036 | +114.7% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €21,950 | €26,986 | +€5,036 | +22.9% |
| Distributable reserves | 133 | €21,950 | €26,986 | +€5,036 | +22.9% |
| Profit (loss) carried forward | 14 | -€25,060 | -€25,060 | = | 0.0% |
| Amounts payable | 17/49 | €22,737 | €21,454 | -€1,283 | -5.6% |
| Amounts payable within one year | 42/48 | €10,728 | €21,454 | +€10,727 | +100.0% |
| Trade debts | 44 | €9,626 | - | -€9,626 | |
| Suppliers | 440/4 | €551 | - | -€551 | |
| Bills of exchange payable | 441 | €9,075 | - | -€9,075 | |
| Taxes, remuneration and social security | 45 | €1,102 | €8,233 | +€7,132 | +647.4% |
| Taxes | 450/3 | €1,102 | €8,233 | +€7,132 | +647.4% |
| Other amounts payable | 47/48 | - | €13,221 | +€13,221 | |
| Accrued charges and deferred income | 492/3 | €12,010 | - | -€12,010 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,776 | €7,241 | +€3,465 | +91.7% |
| Other operating charges | 640/8 | €885 | €2,541 | +€1,656 | +187.2% |
| Gross operating margin | 9900 | €15,199 | €17,760 | +€2,561 | +16.9% |
| Operating profit (loss) | 9901 | €10,538 | €7,978 | -€2,559 | -24.3% |
| Financial income | 75/76B | €2,034 | - | -€2,034 | |
| Recurring financial income | 75 | €2,034 | - | -€2,034 | |
| Financial charges | 65/66B | €80 | €334 | +€254 | +317.9% |
| Recurring financial charges | 65 | €80 | €334 | +€254 | +317.9% |
| Profit (loss) for the period before taxes | 9903 | €12,492 | €7,645 | -€4,848 | -38.8% |
| Income taxes | 67/77 | €645 | €2,609 | +€1,963 | +304.2% |
| Profit (loss) for the period | 9904 | €11,847 | €5,036 | -€6,811 | -57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,847 | €5,036 | -€6,811 | -57.5% |
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 28 September 2026 via checked.be.