RAYKO: 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.
RAYKO
Largest movements
- Cash -€4,891
down €4,891 (-100.0%), from €4,891 to €0
mainly Net result for the year (-€6,587) and Receivables within one year (-€2,427)
- Receivables within one year +€2,427
up €2,427 (+15.0%), from €16,177 to €18,604
of which Other amounts receivable: +€3,328
- Tangible fixed assets -€420
down €420 (-48.3%), from €870 to €449
- Profit (loss) carried forward -€6,587
down €6,587 (-50.5%), from €13,033 to €6,445
- Short-term financial debts +€1,828
new in 2025: €1,828
- Trade debts +€1,234
up €1,234 (+308.6%), from €400 to €1,634
- Tax, wage and social debts +€642
up €642 (+59.3%), from €1,083 to €1,725
- Gross operating margin -€5,402
down €5,402, from €107 to -€5,295
- Other operating charges +€1,149
up €1,149, from €0 to €1,149
- Financial charges -€130
down €130 (-27.5%), from €473 to €343
- Financial income +€73
up €73 (+11.8%), from €615 to €688
- Taxes -€64
down €64 (-48.4%), from €131 to €68
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 | €22,015 | €19,131 | -€2,884 | -13.1% |
| Fixed assets | 21/28 | €948 | €527 | -€420 | -44.4% |
| Tangible fixed assets | 22/27 | €870 | €449 | -€420 | -48.3% |
| Plant, machinery and equipment | 23 | €870 | €449 | -€420 | -48.3% |
| Financial fixed assets | 28 | €78 | €78 | = | 0.0% |
| Current assets | 29/58 | €21,068 | €18,604 | -€2,464 | -11.7% |
| Amounts receivable within one year | 40/41 | €16,177 | €18,604 | +€2,427 | +15.0% |
| Trade receivables | 40 | €5,722 | €4,821 | -€901 | -15.8% |
| Other amounts receivable | 41 | €10,455 | €13,783 | +€3,328 | +31.8% |
| Cash at bank and in hand | 54/58 | €4,891 | €0 | -€4,891 | -100.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €22,015 | €19,131 | -€2,884 | -13.1% |
| Equity | 10/15 | €20,533 | €13,945 | -€6,587 | -32.1% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,033 | €6,445 | -€6,587 | -50.5% |
| Amounts payable | 17/49 | €1,483 | €5,186 | +€3,703 | +249.8% |
| Amounts payable within one year | 42/48 | €1,483 | €5,186 | +€3,703 | +249.8% |
| Financial debts | 43 | - | €1,828 | +€1,828 | |
| Credit institutions | 430/8 | - | €1,828 | +€1,828 | |
| Trade debts | 44 | €400 | €1,634 | +€1,234 | +308.6% |
| Suppliers | 440/4 | €400 | €1,634 | +€1,234 | +308.6% |
| Taxes, remuneration and social security | 45 | €1,083 | €1,725 | +€642 | +59.3% |
| Taxes | 450/3 | €1,083 | €1,725 | +€642 | +59.3% |
| Non-recurring operating income | 76A | - | €2 | +€2 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €392 | €420 | +€29 | +7.3% |
| Other operating charges | 640/8 | €0 | €1,149 | +€1,149 | |
| Gross operating margin | 9900 | €107 | -€5,295 | -€5,402 | |
| Operating profit (loss) | 9901 | -€284 | -€6,864 | -€6,580 | -2312.9% |
| Financial income | 75/76B | €615 | €688 | +€73 | +11.8% |
| Recurring financial income | 75 | €615 | €688 | +€73 | +11.8% |
| Financial charges | 65/66B | €473 | €343 | -€130 | -27.5% |
| Recurring financial charges | 65 | €473 | €343 | -€130 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | -€143 | -€6,520 | -€6,377 | -4469.4% |
| Income taxes | 67/77 | €131 | €68 | -€64 | -48.4% |
| Profit (loss) for the period | 9904 | -€274 | -€6,587 | -€6,313 | -2303.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€274 | -€6,587 | -€6,313 | -2303.5% |
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 7 October 2026 via checked.be.