Rayo Training & 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.
Rayo Training & Consulting
Largest movements
- Cash +€21,637
up €21,637 (+349%), from €6,194 to €27,831
mainly Advances received (+€11,344) and Net result for the year (+€7,728)
- Deferred charges and accrued income -€2,830
down €2,830 (-59.4%), from €4,766 to €1,935
- Tangible fixed assets -€551
down €551 (-31.6%), from €1,744 to €1,193
- Intangible fixed assets -€430
down €430 (-20.9%), from €2,061 to €1,631
- Advances received +€11,344
new in 2025: €11,344
- Reserves +€7,728
up €7,728 (+279%), from €2,766 to €10,494
- Tax, wage and social debts +€4,018
up €4,018, from €0 to €4,018
- Trade debts -€2,610
down €2,610 (-65.5%), from €3,984 to €1,374
- Other debts -€1,824
down €1,824 (-17.8%), from €10,244 to €8,420
- Gross operating margin +€32,759
up €32,759, from -€22,721 to €10,037
- Depreciation +€543
up €543 (+124%), from €437 to €981
- Other operating charges +€262
up €262 (+43.2%), from €606 to €868
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 | €23,903 | €41,966 | +€18,063 | +75.6% |
| Fixed assets | 21/28 | €3,805 | €2,825 | -€981 | -25.8% |
| Intangible fixed assets | 21 | €2,061 | €1,631 | -€430 | -20.9% |
| Tangible fixed assets | 22/27 | €1,744 | €1,193 | -€551 | -31.6% |
| Furniture and vehicles | 24 | €1,744 | €1,193 | -€551 | -31.6% |
| Current assets | 29/58 | €20,098 | €39,141 | +€19,044 | +94.8% |
| Amounts receivable within one year | 40/41 | €9,138 | €9,375 | +€237 | +2.6% |
| Trade receivables | 40 | €1,981 | €9,375 | +€7,394 | +373% |
| Other amounts receivable | 41 | €7,157 | €0 | -€7,157 | -100% |
| Cash at bank and in hand | 54/58 | €6,194 | €27,831 | +€21,637 | +349% |
| Deferred charges and accrued income | 490/1 | €4,766 | €1,935 | -€2,830 | -59.4% |
| Total equity and liabilities | 10/49 | €23,903 | €41,966 | +€18,063 | +75.6% |
| Equity | 10/15 | €7,766 | €15,494 | +€7,728 | +99.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €2,766 | €10,494 | +€7,728 | +279% |
| Distributable reserves | 133 | €2,766 | €10,494 | +€7,728 | +279% |
| Amounts payable | 17/49 | €16,137 | €26,472 | +€10,335 | +64.0% |
| Amounts payable within one year | 42/48 | €14,792 | €25,155 | +€10,363 | +70.1% |
| Financial debts | 43 | €565 | €0 | -€565 | -100% |
| Credit institutions | 430/8 | €565 | €0 | -€565 | -100% |
| Trade debts | 44 | €3,984 | €1,374 | -€2,610 | -65.5% |
| Suppliers | 440/4 | €3,984 | €1,374 | -€2,610 | -65.5% |
| Advances received on contracts in progress | 46 | - | €11,344 | +€11,344 | |
| Taxes, remuneration and social security | 45 | €0 | €4,018 | +€4,018 | |
| Taxes | 450/3 | €0 | €4,018 | +€4,018 | |
| Other amounts payable | 47/48 | €10,244 | €8,420 | -€1,824 | -17.8% |
| Accrued charges and deferred income | 492/3 | €1,345 | €1,317 | -€28 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €437 | €981 | +€543 | +124% |
| Other operating charges | 640/8 | €606 | €868 | +€262 | +43.2% |
| Gross operating margin | 9900 | -€22,721 | €10,037 | +€32,759 | |
| Operating profit (loss) | 9901 | -€23,765 | €8,188 | +€31,953 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €247 | €213 | -€34 | -13.9% |
| Recurring financial charges | 65 | €247 | €213 | -€34 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | -€24,012 | €7,976 | +€31,989 | |
| Income taxes | 67/77 | €238 | €248 | +€10 | +4.3% |
| Profit (loss) for the period | 9904 | -€24,250 | €7,728 | +€31,978 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,250 | €7,728 | +€31,978 |
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 31 October 2026 via checked.be.