RAYQUEST: 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.
RAYQUEST
Largest movements
- Receivables within one year +€123,930
up €123,930 (+687.7%), from €18,020 to €141,949
of which Trade receivables: +€121,857
- Financial fixed assets -€75,000
no longer reported in 2025 (was €75,000)
- Intangible fixed assets +€44,967
new in 2025: €44,967
- Cash -€27,138
down €27,138 (-91.6%), from €29,634 to €2,495
mainly Receivables within one year (-€123,930) and Debts after one year (-€23,333)
- Current investments -€15,412
no longer reported in 2025 (was €15,412)
- Trade debts +€60,765
up €60,765 (+1619.1%), from €3,753 to €64,518
- Debts after one year -€23,333
no longer reported in 2025 (was €23,333)
- Other debts +€16,392
up €16,392, from €0 to €16,392
- Reserves -€6,193
down €6,193 (-5.6%), from €110,890 to €104,698
- Accrued charges and deferred income +€4,000
new in 2025: €4,000
- Financial income -€21,262
down €21,262 (-69.1%), from €30,779 to €9,518
of which Financial income: -€17,160
- Gross operating margin +€17,666
up €17,666 (+26.1%), from €67,563 to €85,230
- Write-downs -€16,293
down €16,293 (-47.1%), from €34,586 to €18,293
- Financial charges +€968
up €968 (+1.2%), from €77,685 to €78,654
of which Non-recurring financial charges: +€75,000
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 | €167,336 | €215,772 | +€48,436 | +28.9% |
| Fixed assets | 21/28 | €102,460 | €69,418 | -€33,042 | -32.2% |
| Intangible fixed assets | 21 | - | €44,967 | +€44,967 | |
| Tangible fixed assets | 22/27 | €27,460 | €24,450 | -€3,010 | -11.0% |
| Other tangible fixed assets | 26 | €27,460 | €24,450 | -€3,010 | -11.0% |
| Financial fixed assets | 28 | €75,000 | - | -€75,000 | |
| Current assets | 29/58 | €64,876 | €146,354 | +€81,478 | +125.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €18,020 | €141,949 | +€123,930 | +687.7% |
| Trade receivables | 40 | €4,587 | €126,444 | +€121,857 | +2656.3% |
| Other amounts receivable | 41 | €13,432 | €15,505 | +€2,073 | +15.4% |
| Current investments | 50/53 | €15,412 | - | -€15,412 | |
| Cash at bank and in hand | 54/58 | €29,634 | €2,495 | -€27,138 | -91.6% |
| Deferred charges and accrued income | 490/1 | €1,810 | €1,909 | +€99 | +5.5% |
| Total equity and liabilities | 10/49 | €167,336 | €215,772 | +€48,436 | +28.9% |
| Equity | 10/15 | €113,390 | €107,198 | -€6,193 | -5.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €110,890 | €104,698 | -€6,193 | -5.6% |
| Distributable reserves | 133 | €110,890 | €104,698 | -€6,193 | -5.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €53,946 | €108,574 | +€54,629 | +101.3% |
| Amounts payable after more than one year | 17 | €23,333 | - | -€23,333 | |
| Financial debts | 170/4 | €23,333 | - | -€23,333 | |
| Amounts payable within one year | 42/48 | €30,613 | €104,574 | +€73,962 | +241.6% |
| Current portion of amounts payable after more than one year | 42 | €23,333 | €23,333 | +€0 | 0.0% |
| Trade debts | 44 | €3,753 | €64,518 | +€60,765 | +1619.1% |
| Suppliers | 440/4 | €3,753 | €64,518 | +€60,765 | +1619.1% |
| Taxes, remuneration and social security | 45 | €3,526 | €332 | -€3,195 | -90.6% |
| Taxes | 450/3 | €3,526 | €332 | -€3,195 | -90.6% |
| Other amounts payable | 47/48 | €0 | €16,392 | +€16,392 | |
| Accrued charges and deferred income | 492/3 | - | €4,000 | +€4,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,636 | €3,084 | +€448 | +17.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €34,586 | €18,293 | -€16,293 | -47.1% |
| Other operating charges | 640/8 | €675 | €571 | -€104 | -15.4% |
| Gross operating margin | 9900 | €67,563 | €85,230 | +€17,666 | +26.1% |
| Operating profit (loss) | 9901 | €29,667 | €63,282 | +€33,615 | +113.3% |
| Financial income | 75/76B | €30,779 | €9,518 | -€21,262 | -69.1% |
| Recurring financial income | 75 | €26,677 | €9,518 | -€17,160 | -64.3% |
| Non-recurring financial income | 76B | €4,102 | - | -€4,102 | |
| Financial charges | 65/66B | €77,685 | €78,654 | +€968 | +1.2% |
| Recurring financial charges | 65 | €77,685 | €3,654 | -€74,032 | -95.3% |
| Non-recurring financial charges | 66B | - | €75,000 | +€75,000 | |
| Profit (loss) for the period before taxes | 9903 | -€17,239 | -€5,854 | +€11,385 | +66.0% |
| Income taxes | 67/77 | €270 | €339 | +€69 | +25.7% |
| Profit (loss) for the period | 9904 | -€17,509 | -€6,193 | +€11,316 | +64.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,509 | -€6,193 | +€11,316 | +64.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.