THOMAS Raoul: 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.
THOMAS Raoul
Largest movements
- Cash -€629
down €629 (-83.1%), from €757 to €128
mainly Net result for the year (-€1,042)
- Profit (loss) carried forward -€1,042
down €1,042 (-78.8%), from €1,323 to €281
- Trade debts +€351
up €351 (+3.6%), from €9,669 to €10,019
- Gross operating margin +€89
up €89 (+20.3%), from -€438 to -€349
- Other operating charges +€10
up €10 (+1.6%), from €644 to €654
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 | €32,991 | €32,361 | -€629 | -1.9% |
| Fixed assets | 21/28 | €4,581 | €4,581 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,150 | €1,150 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,150 | €1,150 | = | 0.0% |
| Financial fixed assets | 28 | €3,431 | €3,431 | = | 0.0% |
| Current assets | 29/58 | €28,410 | €27,780 | -€629 | -2.2% |
| Amounts receivable within one year | 40/41 | €27,653 | €27,653 | = | 0.0% |
| Trade receivables | 40 | €27,653 | €27,653 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €757 | €128 | -€629 | -83.1% |
| Total equity and liabilities | 10/49 | €32,991 | €32,361 | -€629 | -1.9% |
| Equity | 10/15 | €22,112 | €21,070 | -€1,042 | -4.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,197 | €2,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €337 | €337 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,323 | €281 | -€1,042 | -78.8% |
| Amounts payable | 17/49 | €10,879 | €11,292 | +€413 | +3.8% |
| Amounts payable within one year | 42/48 | €10,879 | €11,292 | +€413 | +3.8% |
| Trade debts | 44 | €9,669 | €10,019 | +€351 | +3.6% |
| Suppliers | 440/4 | €9,669 | €10,019 | +€351 | +3.6% |
| Other amounts payable | 47/48 | €1,210 | €1,272 | +€62 | +5.1% |
| Other operating charges | 640/8 | €644 | €654 | +€10 | +1.6% |
| Gross operating margin | 9900 | -€438 | -€349 | +€89 | +20.3% |
| Operating profit (loss) | 9901 | -€1,082 | -€1,003 | +€79 | +7.3% |
| Financial charges | 65/66B | €38 | €39 | +€2 | +4.0% |
| Recurring financial charges | 65 | €38 | €39 | +€2 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,119 | -€1,042 | +€77 | +6.9% |
| Profit (loss) for the period | 9904 | -€1,119 | -€1,042 | +€77 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,119 | -€1,042 | +€77 | +6.9% |
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 14 October 2026 via checked.be.