RAZA CORPORATIONS: 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.
RAZA CORPORATIONS
Largest movements
- Cash +€81,637
up €81,637 (+142%), from €57,453 to €139,090
mainly Net result for the year (+€67,072) and Tax, wage and social debts (+€25,949)
- Receivables within one year +€11,745
up €11,745 (+57.0%), from €20,619 to €32,364
of which Other amounts receivable: +€6,919
- Tangible fixed assets -€7,456
down €7,456 (-26.4%), from €28,258 to €20,802
- Profit (loss) carried forward +€67,072
up €67,072 (+79.6%), from €84,266 to €151,338
- Tax, wage and social debts +€25,949
new in 2025: €25,949
of which Taxes: +€22,767
- Debts after one year -€7,888
down €7,888 (-70.0%), from €11,275 to €3,387
- Gross operating margin -€22,713
down €22,713 (-19.5%), from €116,602 to €93,889
- Taxes -€3,779
down €3,779 (-17.4%), from €21,675 to €17,896
- Depreciation -€1,241
down €1,241 (-14.3%), from €8,697 to €7,456
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 | €106,330 | €192,256 | +€85,926 | +80.8% |
| Fixed assets | 21/28 | €28,258 | €20,802 | -€7,456 | -26.4% |
| Tangible fixed assets | 22/27 | €28,258 | €20,802 | -€7,456 | -26.4% |
| Furniture and vehicles | 24 | €28,258 | €20,802 | -€7,456 | -26.4% |
| Current assets | 29/58 | €78,072 | €171,454 | +€93,382 | +120% |
| Amounts receivable within one year | 40/41 | €20,619 | €32,364 | +€11,745 | +57.0% |
| Trade receivables | 40 | €13,371 | €18,197 | +€4,826 | +36.1% |
| Other amounts receivable | 41 | €7,248 | €14,167 | +€6,919 | +95.5% |
| Cash at bank and in hand | 54/58 | €57,453 | €139,090 | +€81,637 | +142% |
| Total equity and liabilities | 10/49 | €106,330 | €192,256 | +€85,926 | +80.8% |
| Equity | 10/15 | €86,266 | €153,338 | +€67,072 | +77.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | €2,000 | = | 0.0% |
| Issued capital | 100 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,266 | €151,338 | +€67,072 | +79.6% |
| Amounts payable | 17/49 | €20,064 | €38,918 | +€18,854 | +94.0% |
| Amounts payable after more than one year | 17 | €11,275 | €3,387 | -€7,888 | -70.0% |
| Financial debts | 170/4 | €11,275 | €3,387 | -€7,888 | -70.0% |
| Amounts payable within one year | 42/48 | €8,789 | €35,531 | +€26,742 | +304% |
| Current portion of amounts payable after more than one year | 42 | €7,564 | €7,889 | +€325 | +4.3% |
| Trade debts | 44 | €1,225 | €1,693 | +€468 | +38.2% |
| Suppliers | 440/4 | €1,225 | €1,693 | +€468 | +38.2% |
| Taxes, remuneration and social security | 45 | - | €25,949 | +€25,949 | |
| Taxes | 450/3 | - | €22,767 | +€22,767 | |
| Remuneration and social security | 454/9 | - | €3,182 | +€3,182 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,697 | €7,456 | -€1,241 | -14.3% |
| Other operating charges | 640/8 | €512 | €635 | +€123 | +24.0% |
| Gross operating margin | 9900 | €116,602 | €93,889 | -€22,713 | -19.5% |
| Operating profit (loss) | 9901 | €107,393 | €85,798 | -€21,595 | -20.1% |
| Financial charges | 65/66B | €1,452 | €830 | -€622 | -42.8% |
| Recurring financial charges | 65 | €1,452 | €830 | -€622 | -42.8% |
| Profit (loss) for the period before taxes | 9903 | €105,941 | €84,968 | -€20,973 | -19.8% |
| Income taxes | 67/77 | €21,675 | €17,896 | -€3,779 | -17.4% |
| Profit (loss) for the period | 9904 | €84,266 | €67,072 | -€17,194 | -20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €84,266 | €67,072 | -€17,194 | -20.4% |
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 1 November 2026 via checked.be.