RAYON9: 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.
RAYON9
Largest movements
- Cash +€46,626
up €46,626 (+470%), from €9,925 to €56,550
mainly Contributions, distributions and other (+€129,011) and Tax, wage and social debts (+€20,536)
- Receivables within one year +€33,675
up €33,675 (+27.3%), from €123,321 to €156,996
of which Trade receivables: +€44,076
- Deferred charges and accrued income -€3,959
down €3,959 (-76.7%), from €5,161 to €1,202
- Financial fixed assets +€3,000
up €3,000 (+54.9%), from €5,466 to €8,466
- Contributions +€121,224
up €121,224 (+72.4%), from €167,468 to €288,692
- Profit (loss) carried forward -€51,916
down €51,916 (-30.5%), from -€170,026 to -€221,942
- Accrued charges and deferred income -€48,632
no longer reported in 2025 (was €48,632)
- Tax, wage and social debts +€20,536
up €20,536 (+28.6%), from €71,834 to €92,370
of which Remuneration and social security: +€13,824
- Current portion of long-term debt +€17,040
new in 2025: €17,040
- Turnover +€102,726
up €102,726 (+30.9%), from €332,381 to €435,107
- Gross operating margin +€100,900
up €100,900 (+36.9%), from €273,763 to €374,663
- Staff costs +€76,924
up €76,924 (+22.9%), from €335,950 to €412,873
- Purchases and services +€30,453
up €30,453 (+20.8%), from €146,469 to €176,922
- Depreciation +€6,026
up €6,026 (+42.3%), from €14,236 to €20,262
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 | €187,642 | €266,691 | +€79,048 | +42.1% |
| Fixed assets | 21/28 | €49,236 | €51,942 | +€2,706 | +5.5% |
| Tangible fixed assets | 22/27 | €43,770 | €43,476 | -€294 | -0.7% |
| Plant, machinery and equipment | 23 | - | €2,775 | +€2,775 | |
| Furniture and vehicles | 24 | €43,770 | €40,701 | -€3,069 | -7.0% |
| Financial fixed assets | 28 | €5,466 | €8,466 | +€3,000 | +54.9% |
| Current assets | 29/58 | €138,406 | €214,748 | +€76,342 | +55.2% |
| Amounts receivable within one year | 40/41 | €123,321 | €156,996 | +€33,675 | +27.3% |
| Trade receivables | 40 | €69,547 | €113,623 | +€44,076 | +63.4% |
| Other amounts receivable | 41 | €53,774 | €43,373 | -€10,401 | -19.3% |
| Cash at bank and in hand | 54/58 | €9,925 | €56,550 | +€46,626 | +470% |
| Deferred charges and accrued income | 490/1 | €5,161 | €1,202 | -€3,959 | -76.7% |
| Total equity and liabilities | 10/49 | €187,642 | €266,691 | +€79,048 | +42.1% |
| Equity | 10/15 | €10,223 | €87,317 | +€77,094 | +754% |
| Contributions | 10/11 | €167,468 | €288,692 | +€121,224 | +72.4% |
| Profit (loss) carried forward | 14 | -€170,026 | -€221,942 | -€51,916 | -30.5% |
| Investment grants | 15 | €12,781 | €20,568 | +€7,787 | +60.9% |
| Amounts payable | 17/49 | €177,420 | €179,374 | +€1,954 | +1.1% |
| Amounts payable after more than one year | 17 | €41,417 | €56,896 | +€15,479 | +37.4% |
| Financial debts | 170/4 | €41,417 | €56,896 | +€15,479 | +37.4% |
| Amounts payable within one year | 42/48 | €87,370 | €122,478 | +€35,107 | +40.2% |
| Current portion of amounts payable after more than one year | 42 | - | €17,040 | +€17,040 | |
| Trade debts | 44 | €10,341 | €12,170 | +€1,828 | +17.7% |
| Suppliers | 440/4 | €10,341 | €12,170 | +€1,828 | +17.7% |
| Taxes, remuneration and social security | 45 | €71,834 | €92,370 | +€20,536 | +28.6% |
| Taxes | 450/3 | €15,826 | €22,538 | +€6,712 | +42.4% |
| Remuneration and social security | 454/9 | €56,007 | €69,832 | +€13,824 | +24.7% |
| Other amounts payable | 47/48 | €5,195 | €898 | -€4,297 | -82.7% |
| Accrued charges and deferred income | 492/3 | €48,632 | - | -€48,632 | |
| Turnover | 70 | €332,381 | €435,107 | +€102,726 | +30.9% |
| Non-recurring operating income | 76A | €14,991 | - | -€14,991 | |
| Goods, raw materials, services and sundry goods | 60/61 | €146,469 | €176,922 | +€30,453 | +20.8% |
| Remuneration, social security and pensions | 62 | €335,950 | €412,873 | +€76,924 | +22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,236 | €20,262 | +€6,026 | +42.3% |
| Other operating charges | 640/8 | €587 | €475 | -€111 | -19.0% |
| Gross operating margin | 9900 | €273,763 | €374,663 | +€100,900 | +36.9% |
| Operating profit (loss) | 9901 | -€77,009 | -€58,947 | +€18,062 | +23.5% |
| Financial income | 75/76B | €15,151 | €9,897 | -€5,254 | -34.7% |
| Recurring financial income | 75 | €11,068 | €9,897 | -€1,170 | -10.6% |
| Non-recurring financial income | 76B | €4,084 | - | -€4,084 | |
| Financial charges | 65/66B | €1,719 | €2,866 | +€1,148 | +66.8% |
| Recurring financial charges | 65 | €1,719 | €2,866 | +€1,148 | +66.8% |
| Profit (loss) for the period before taxes | 9903 | -€63,576 | -€51,916 | +€11,660 | +18.3% |
| Profit (loss) for the period | 9904 | -€63,576 | -€51,916 | +€11,660 | +18.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€63,576 | -€51,916 | +€11,660 | +18.3% |
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 17 October 2026 via checked.be.