Samuel RAHIER: 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.
Samuel RAHIER
Largest movements
- Current investments -€135,000
no longer reported in 2025 (was €135,000)
- Tangible fixed assets +€35,813
up €35,813 (+20.2%), from €177,373 to €213,186
of which Furniture and vehicles: +€59,056
- Receivables within one year +€29,651
up €29,651 (+1,152%), from €2,573 to €32,224
- Cash -€5,472
down €5,472 (-8.3%), from €65,966 to €60,493
mainly Investment in fixed assets (net) (-€72,239) and Debts after one year (-€43,883)
- Debts after one year -€43,883
down €43,883 (-46.1%), from €95,181 to €51,298
- Profit (loss) carried forward -€19,879
down €19,879 (-40.8%), from €48,714 to €28,835
- Other debts -€15,089
down €15,089 (-65.4%), from €23,089 to €8,000
- Trade debts +€11,309
up €11,309 (+217%), from €5,215 to €16,524
- Current portion of long-term debt -€5,062
down €5,062 (-33.0%), from €15,352 to €10,291
- Gross operating margin -€36,519
down €36,519 (-63.4%), from €57,611 to €21,092
- Depreciation +€9,769
up €9,769 (+36.6%), from €26,657 to €36,426
- Taxes -€7,650
down €7,650 (-92.2%), from €8,295 to €644
- Other operating charges -€592
down €592 (-14.9%), from €3,962 to €3,370
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 | €380,940 | €305,932 | -€75,008 | -19.7% |
| Fixed assets | 21/28 | €177,373 | €213,186 | +€35,813 | +20.2% |
| Tangible fixed assets | 22/27 | €177,373 | €213,186 | +€35,813 | +20.2% |
| Land and buildings | 22 | €172,720 | €150,047 | -€22,673 | -13.1% |
| Plant, machinery and equipment | 23 | €2,280 | €1,710 | -€570 | -25.0% |
| Furniture and vehicles | 24 | €2,372 | €61,428 | +€59,056 | +2,489% |
| Current assets | 29/58 | €203,567 | €92,746 | -€110,821 | -54.4% |
| Amounts receivable within one year | 40/41 | €2,573 | €32,224 | +€29,651 | +1,152% |
| Other amounts receivable | 41 | €2,573 | €32,224 | +€29,651 | +1,152% |
| Current investments | 50/53 | €135,000 | - | -€135,000 | |
| Cash at bank and in hand | 54/58 | €65,966 | €60,493 | -€5,472 | -8.3% |
| Deferred charges and accrued income | 490/1 | €28 | €28 | = | 0.0% |
| Total equity and liabilities | 10/49 | €380,940 | €305,932 | -€75,008 | -19.7% |
| Equity | 10/15 | €222,567 | €202,688 | -€19,879 | -8.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €111,853 | €111,853 | = | 0.0% |
| Tax-exempt reserves | 132 | €51,413 | €51,413 | = | 0.0% |
| Distributable reserves | 133 | €60,440 | €60,440 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,714 | €28,835 | -€19,879 | -40.8% |
| Amounts payable | 17/49 | €158,373 | €103,244 | -€55,129 | -34.8% |
| Amounts payable after more than one year | 17 | €95,181 | €51,298 | -€43,883 | -46.1% |
| Financial debts | 170/4 | €95,181 | €51,298 | -€43,883 | -46.1% |
| Amounts payable within one year | 42/48 | €63,192 | €51,946 | -€11,246 | -17.8% |
| Current portion of amounts payable after more than one year | 42 | €15,352 | €10,291 | -€5,062 | -33.0% |
| Trade debts | 44 | €5,215 | €16,524 | +€11,309 | +217% |
| Suppliers | 440/4 | €5,215 | €16,524 | +€11,309 | +217% |
| Taxes, remuneration and social security | 45 | €19,536 | €17,131 | -€2,404 | -12.3% |
| Taxes | 450/3 | €17,149 | €17,131 | -€17 | -0.1% |
| Remuneration and social security | 454/9 | €2,387 | - | -€2,387 | |
| Other amounts payable | 47/48 | €23,089 | €8,000 | -€15,089 | -65.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,657 | €36,426 | +€9,769 | +36.6% |
| Other operating charges | 640/8 | €3,962 | €3,370 | -€592 | -14.9% |
| Gross operating margin | 9900 | €57,611 | €21,092 | -€36,519 | -63.4% |
| Operating profit (loss) | 9901 | €26,991 | -€18,705 | -€45,696 | |
| Financial income | 75/76B | €2,475 | €2,468 | -€8 | -0.3% |
| Recurring financial income | 75 | €2,475 | €2,468 | -€8 | -0.3% |
| Financial charges | 65/66B | €3,417 | €2,998 | -€419 | -12.3% |
| Recurring financial charges | 65 | €3,417 | €2,998 | -€419 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €26,050 | -€19,235 | -€45,285 | |
| Income taxes | 67/77 | €8,295 | €644 | -€7,650 | -92.2% |
| Profit (loss) for the period | 9904 | €17,755 | -€19,879 | -€37,635 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,755 | -€19,879 | -€37,635 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.