Ruben Raveel: 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.
Ruben Raveel
Largest movements
- Tangible fixed assets +€70,870
up €70,870 (+2,487%), from €2,849 to €73,719
of which Furniture and vehicles: +€65,245
- Receivables within one year +€3,517
up €3,517 (+800%), from €440 to €3,957
of which Trade receivables: +€3,232
- Reserves +€73,521
up €73,521 (+156%), from €47,140 to €120,661
- Gross operating margin +€42,024
up €42,024 (+69.0%), from €60,930 to €102,954
- Depreciation +€9,051
up €9,051 (+979%), from €925 to €9,976
- Taxes +€6,713
up €6,713 (+53.4%), from €12,562 to €19,275
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 | €73,478 | €147,506 | +€74,027 | +101% |
| Formation expenses | 20 | €194 | €0 | -€194 | -100% |
| Fixed assets | 21/28 | €2,849 | €73,719 | +€70,870 | +2,487% |
| Tangible fixed assets | 22/27 | €2,849 | €73,719 | +€70,870 | +2,487% |
| Plant, machinery and equipment | 23 | €2,849 | €8,474 | +€5,625 | +197% |
| Furniture and vehicles | 24 | - | €65,245 | +€65,245 | |
| Current assets | 29/58 | €70,435 | €73,786 | +€3,351 | +4.8% |
| Amounts receivable within one year | 40/41 | €440 | €3,957 | +€3,517 | +800% |
| Trade receivables | 40 | - | €3,232 | +€3,232 | |
| Other amounts receivable | 41 | €440 | €725 | +€286 | +64.9% |
| Cash at bank and in hand | 54/58 | €69,896 | €69,170 | -€726 | -1.0% |
| Deferred charges and accrued income | 490/1 | €100 | €660 | +€560 | +560% |
| Total equity and liabilities | 10/49 | €73,478 | €147,506 | +€74,027 | +101% |
| Equity | 10/15 | €62,140 | €135,661 | +€73,521 | +118% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €47,140 | €120,661 | +€73,521 | +156% |
| Distributable reserves | 133 | €47,140 | €120,661 | +€73,521 | +156% |
| Amounts payable | 17/49 | €11,338 | €11,844 | +€506 | +4.5% |
| Amounts payable within one year | 42/48 | €11,338 | €11,844 | +€506 | +4.5% |
| Trade debts | 44 | €2,640 | €2,575 | -€65 | -2.5% |
| Suppliers | 440/4 | €2,640 | €2,575 | -€65 | -2.5% |
| Taxes, remuneration and social security | 45 | €7,534 | €7,991 | +€456 | +6.1% |
| Taxes | 450/3 | €7,534 | €7,991 | +€456 | +6.1% |
| Other amounts payable | 47/48 | €1,163 | €1,279 | +€115 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €925 | €9,976 | +€9,051 | +979% |
| Other operating charges | 640/8 | €138 | €0 | -€138 | -100% |
| Gross operating margin | 9900 | €60,930 | €102,954 | +€42,024 | +69.0% |
| Operating profit (loss) | 9901 | €59,867 | €92,978 | +€33,110 | +55.3% |
| Financial charges | 65/66B | €165 | €182 | +€17 | +10.4% |
| Recurring financial charges | 65 | €165 | €182 | +€17 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €59,702 | €92,796 | +€33,093 | +55.4% |
| Income taxes | 67/77 | €12,562 | €19,275 | +€6,713 | +53.4% |
| Profit (loss) for the period | 9904 | €47,140 | €73,521 | +€26,381 | +56.0% |
| Profit (loss) for the period to be appropriated | 9905 | €47,140 | €73,521 | +€26,381 | +56.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.