RHAZAL: 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.
RHAZAL
Largest movements
- Receivables within one year -€4,273
down €4,273 (-88.7%), from €4,816 to €543
of which Other amounts receivable: -€4,273
- Profit (loss) carried forward -€4,608
down €4,608, from €1,828 to -€2,779
- Other debts +€460
new in 2025: €460
- Tax, wage and social debts -€371
down €371 (-91.9%), from €403 to €33
- Trade debts +€304
up €304 (+213%), from €143 to €447
- Purchases and services +€7,314
up €7,314 (+49.2%), from €14,864 to €22,178
- Gross operating margin -€2,896
down €2,896, from €1,253 to -€1,643
- Taxes +€587
new in 2025: €587
- Other operating charges +€518
up €518 (+28.7%), from €1,806 to €2,324
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 | €10,783 | €6,525 | -€4,258 | -39.5% |
| Fixed assets | 21/28 | €2,300 | €2,300 | = | 0.0% |
| Financial fixed assets | 28 | €2,300 | €2,300 | = | 0.0% |
| Current assets | 29/58 | €8,483 | €4,225 | -€4,258 | -50.2% |
| Stocks and contracts in progress | 3 | €3,078 | €3,078 | = | 0.0% |
| Stocks | 30/36 | €3,078 | €3,078 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,816 | €543 | -€4,273 | -88.7% |
| Trade receivables | 40 | €543 | €543 | = | 0.0% |
| Other amounts receivable | 41 | €4,273 | - | -€4,273 | |
| Cash at bank and in hand | 54/58 | €589 | €603 | +€15 | +2.5% |
| Total equity and liabilities | 10/49 | €10,783 | €6,525 | -€4,258 | -39.5% |
| Equity | 10/15 | €10,193 | €5,586 | -€4,608 | -45.2% |
| Contributions | 10/11 | €6,505 | €6,505 | = | 0.0% |
| Capital | 10 | €6,505 | €6,505 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,095 | €12,095 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,828 | -€2,779 | -€4,608 | |
| Amounts payable | 17/49 | €589 | €939 | +€350 | +59.3% |
| Amounts payable within one year | 42/48 | €589 | €939 | +€350 | +59.3% |
| Financial debts | 43 | €43 | - | -€43 | |
| Credit institutions | 430/8 | €43 | - | -€43 | |
| Trade debts | 44 | €143 | €447 | +€304 | +213% |
| Suppliers | 440/4 | €143 | €447 | +€304 | +213% |
| Taxes, remuneration and social security | 45 | €403 | €33 | -€371 | -91.9% |
| Taxes | 450/3 | €403 | €33 | -€371 | -91.9% |
| Other amounts payable | 47/48 | - | €460 | +€460 | |
| Goods, raw materials, services and sundry goods | 60/61 | €14,864 | €22,178 | +€7,314 | +49.2% |
| Other operating charges | 640/8 | €1,806 | €2,324 | +€518 | +28.7% |
| Gross operating margin | 9900 | €1,253 | -€1,643 | -€2,896 | |
| Operating profit (loss) | 9901 | -€553 | -€3,967 | -€3,414 | -617% |
| Financial charges | 65/66B | €47 | €53 | +€6 | +13.7% |
| Recurring financial charges | 65 | €47 | €53 | +€6 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | -€600 | -€4,020 | -€3,421 | -570% |
| Income taxes | 67/77 | - | €587 | +€587 | |
| Profit (loss) for the period | 9904 | -€600 | -€4,608 | -€4,008 | -668% |
| Profit (loss) for the period to be appropriated | 9905 | -€600 | -€4,608 | -€4,008 | -668% |
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 15 October 2026 via checked.be.