RAYOO: 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.
RAYOO
Largest movements
- Stocks and contracts +€226,500
up €226,500 (+48.4%), from €467,509 to €694,010
- Cash -€32,462
down €32,462 (-62.3%), from €52,101 to €19,639
mainly Stocks and contracts (-€226,500) and Net result for the year (-€62,401)
- Receivables within one year -€14,270
down €14,270 (-84.3%), from €16,932 to €2,662
of which Trade receivables: -€11,259
- Short-term financial debts +€200,000
new in 2025: €200,000
- Profit (loss) carried forward -€62,401
down €62,401 (-123.0%), from -€50,741 to -€113,142
- Other debts +€50,000
up €50,000 (+100.0%), from €50,000 to €100,000
- Gross operating margin +€24,318
up €24,318 (+96.7%), from -€25,141 to -€823
- Depreciation +€18,514
new in 2025: €18,514
- Financial charges +€14,700
up €14,700 (+60.8%), from €24,167 to €38,867
- Other operating charges +€2,683
up €2,683 (+177.1%), from €1,515 to €4,198
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 | €1,118,946 | €1,306,927 | +€187,980 | +16.8% |
| Fixed assets | 21/28 | €582,403 | €590,616 | +€8,213 | +1.4% |
| Tangible fixed assets | 22/27 | €582,403 | €590,616 | +€8,213 | +1.4% |
| Land and buildings | 22 | €566,800 | €557,353 | -€9,447 | -1.7% |
| Plant, machinery and equipment | 23 | €15,603 | €33,263 | +€17,659 | +113.2% |
| Current assets | 29/58 | €536,543 | €716,311 | +€179,768 | +33.5% |
| Stocks and contracts in progress | 3 | €467,509 | €694,010 | +€226,500 | +48.4% |
| Stocks | 30/36 | €467,509 | €694,010 | +€226,500 | +48.4% |
| Amounts receivable within one year | 40/41 | €16,932 | €2,662 | -€14,270 | -84.3% |
| Trade receivables | 40 | €13,921 | €2,662 | -€11,259 | -80.9% |
| Other amounts receivable | 41 | €3,011 | - | -€3,011 | |
| Cash at bank and in hand | 54/58 | €52,101 | €19,639 | -€32,462 | -62.3% |
| Total equity and liabilities | 10/49 | €1,118,946 | €1,306,927 | +€187,980 | +16.8% |
| Equity | 10/15 | -€40,741 | -€103,142 | -€62,401 | -153.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,741 | -€113,142 | -€62,401 | -123.0% |
| Amounts payable | 17/49 | €1,159,687 | €1,410,068 | +€250,381 | +21.6% |
| Amounts payable after more than one year | 17 | €1,100,000 | €1,100,000 | = | 0.0% |
| Financial debts | 170/4 | €1,100,000 | €1,100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €59,687 | €310,068 | +€250,381 | +419.5% |
| Financial debts | 43 | - | €200,000 | +€200,000 | |
| Credit institutions | 430/8 | - | €200,000 | +€200,000 | |
| Trade debts | 44 | €9,687 | €4,333 | -€5,354 | -55.3% |
| Suppliers | 440/4 | €9,687 | €4,333 | -€5,354 | -55.3% |
| Taxes, remuneration and social security | 45 | - | €5,735 | +€5,735 | |
| Taxes | 450/3 | - | €5,735 | +€5,735 | |
| Other amounts payable | 47/48 | €50,000 | €100,000 | +€50,000 | +100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €18,514 | +€18,514 | |
| Other operating charges | 640/8 | €1,515 | €4,198 | +€2,683 | +177.1% |
| Gross operating margin | 9900 | -€25,141 | -€823 | +€24,318 | +96.7% |
| Operating profit (loss) | 9901 | -€26,655 | -€23,535 | +€3,121 | +11.7% |
| Financial income | 75/76B | €82 | - | -€82 | |
| Recurring financial income | 75 | €82 | - | -€82 | |
| Financial charges | 65/66B | €24,167 | €38,867 | +€14,700 | +60.8% |
| Recurring financial charges | 65 | €24,167 | €38,867 | +€14,700 | +60.8% |
| Profit (loss) for the period before taxes | 9903 | -€50,741 | -€62,401 | -€11,661 | -23.0% |
| Profit (loss) for the period | 9904 | -€50,741 | -€62,401 | -€11,661 | -23.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,741 | -€62,401 | -€11,661 | -23.0% |
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 29 September 2026 via checked.be.