RAYSER: 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.
RAYSER
Largest movements
- Receivables within one year -€17,824
down €17,824 (-63.8%), from €27,958 to €10,135
- Cash +€10,457
up €10,457 (+90.1%), from €11,611 to €22,068
mainly Receivables within one year (+€17,824) and Tax, wage and social debts (+€2,657)
- Stocks and contracts +€10,382
up €10,382 (+58.6%), from €17,706 to €28,088
- Tax, wage and social debts +€2,657
up €2,657 (+35.0%), from €7,593 to €10,250
- Trade debts -€768
down €768 (-3.0%), from €25,183 to €24,415
- Gross operating margin -€6,125
down €6,125 (-80.7%), from €7,592 to €1,467
- Other operating charges -€2,477
down €2,477 (-78.2%), from €3,166 to €689
- Taxes -€803
down €803 (-84.8%), from €947 to €144
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 | €57,871 | €60,290 | +€2,419 | +4.2% |
| Current assets | 29/58 | €57,871 | €60,290 | +€2,419 | +4.2% |
| Stocks and contracts in progress | 3 | €17,706 | €28,088 | +€10,382 | +58.6% |
| Stocks | 30/36 | €17,706 | €28,088 | +€10,382 | +58.6% |
| Amounts receivable within one year | 40/41 | €27,958 | €10,135 | -€17,824 | -63.8% |
| Trade receivables | 40 | €27,958 | €10,135 | -€17,824 | -63.8% |
| Cash at bank and in hand | 54/58 | €11,611 | €22,068 | +€10,457 | +90.1% |
| Deferred charges and accrued income | 490/1 | €596 | - | -€596 | |
| Total equity and liabilities | 10/49 | €57,871 | €60,290 | +€2,419 | +4.2% |
| Equity | 10/15 | €25,096 | €25,625 | +€529 | +2.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,644 | €5,174 | +€529 | +11.4% |
| Amounts payable | 17/49 | €32,776 | €34,665 | +€1,889 | +5.8% |
| Amounts payable within one year | 42/48 | €32,776 | €34,665 | +€1,889 | +5.8% |
| Trade debts | 44 | €25,183 | €24,415 | -€768 | -3.0% |
| Suppliers | 440/4 | €25,183 | €24,415 | -€768 | -3.0% |
| Taxes, remuneration and social security | 45 | €7,593 | €10,250 | +€2,657 | +35.0% |
| Taxes | 450/3 | €7,593 | €10,250 | +€2,657 | +35.0% |
| Other operating charges | 640/8 | €3,166 | €689 | -€2,477 | -78.2% |
| Gross operating margin | 9900 | €7,592 | €1,467 | -€6,125 | -80.7% |
| Operating profit (loss) | 9901 | €4,426 | €778 | -€3,648 | -82.4% |
| Financial income | 75/76B | €101 | €126 | +€25 | +25.0% |
| Recurring financial income | 75 | €101 | €126 | +€25 | +25.0% |
| Financial charges | 65/66B | €187 | €231 | +€44 | +23.8% |
| Recurring financial charges | 65 | €187 | €231 | +€44 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | €4,340 | €673 | -€3,667 | -84.5% |
| Income taxes | 67/77 | €947 | €144 | -€803 | -84.8% |
| Profit (loss) for the period | 9904 | €3,393 | €529 | -€2,864 | -84.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,393 | €529 | -€2,864 | -84.4% |
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 2 October 2026 via checked.be.