RAY CONSULTING: 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.
RAY CONSULTING
Largest movements
- Receivables within one year +€44,058
up €44,058 (+22.0%), from €200,258 to €244,316
of which Other amounts receivable: +€39,154
- Cash -€6,270
down €6,270 (-34.6%), from €18,110 to €11,840
mainly Receivables within one year (-€44,058) and Tax, wage and social debts (-€34,581)
- Tangible fixed assets -€2,864
down €2,864 (-94.7%), from €3,024 to €160
- Profit (loss) carried forward +€77,503
up €77,503 (+49.7%), from €155,816 to €233,319
- Tax, wage and social debts -€34,581
down €34,581 (-62.2%), from €55,578 to €20,997
- Trade debts -€7,998
no longer reported in 2025 (was €7,998)
- Gross operating margin -€4,676
down €4,676 (-4.9%), from €96,012 to €91,336
- Financial income +€3,934
up €3,934 (+49.3%), from €7,979 to €11,913
- Taxes +€2,341
up €2,341 (+11.7%), from €20,062 to €22,403
- Other operating charges -€1,942
down €1,942 (-85.6%), from €2,270 to €328
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €221,392 | €256,316 | +€34,924 | +15.8% |
| Fixed assets | 21/28 | €3,024 | €160 | -€2,864 | -94.7% |
| Tangible fixed assets | 22/27 | €3,024 | €160 | -€2,864 | -94.7% |
| Furniture and vehicles | 24 | €3,024 | €160 | -€2,864 | -94.7% |
| Current assets | 29/58 | €218,368 | €256,156 | +€37,788 | +17.3% |
| Amounts receivable within one year | 40/41 | €200,258 | €244,316 | +€44,058 | +22.0% |
| Trade receivables | 40 | - | €4,904 | +€4,904 | |
| Other amounts receivable | 41 | €200,258 | €239,412 | +€39,154 | +19.6% |
| Cash at bank and in hand | 54/58 | €18,110 | €11,840 | -€6,270 | -34.6% |
| Total equity and liabilities | 10/49 | €221,392 | €256,316 | +€34,924 | +15.8% |
| Equity | 10/15 | €157,816 | €235,319 | +€77,503 | +49.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | €2,000 | = | 0.0% |
| Issued capital | 100 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,816 | €233,319 | +€77,503 | +49.7% |
| Amounts payable | 17/49 | €63,576 | €20,997 | -€42,579 | -67.0% |
| Amounts payable within one year | 42/48 | €63,576 | €20,997 | -€42,579 | -67.0% |
| Trade debts | 44 | €7,998 | - | -€7,998 | |
| Suppliers | 440/4 | €7,998 | - | -€7,998 | |
| Taxes, remuneration and social security | 45 | €55,578 | €20,997 | -€34,581 | -62.2% |
| Taxes | 450/3 | €55,578 | €20,997 | -€34,581 | -62.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,271 | €2,864 | -€407 | -12.4% |
| Other operating charges | 640/8 | €2,270 | €328 | -€1,942 | -85.6% |
| Gross operating margin | 9900 | €96,012 | €91,336 | -€4,676 | -4.9% |
| Operating profit (loss) | 9901 | €90,471 | €88,144 | -€2,327 | -2.6% |
| Financial income | 75/76B | €7,979 | €11,913 | +€3,934 | +49.3% |
| Recurring financial income | 75 | €7,979 | €11,913 | +€3,934 | +49.3% |
| Financial charges | 65/66B | €140 | €151 | +€11 | +7.9% |
| Recurring financial charges | 65 | €140 | €151 | +€11 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €98,310 | €99,906 | +€1,596 | +1.6% |
| Income taxes | 67/77 | €20,062 | €22,403 | +€2,341 | +11.7% |
| Profit (loss) for the period | 9904 | €78,248 | €77,503 | -€745 | -1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €78,248 | €77,503 | -€745 | -1.0% |
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 21 October 2026 via checked.be.