Van Raatshoven: what changed
What changed
Van Raatshoven
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€108,518
2024 · €64,586+€43,931
Equity
€248,860
2024 · €140,342+€108,518
Cash
€58,375
2024 · €23,686+€34,689
Balance sheet total
€477,499
2024 · €309,582+€167,918
Largest movements
Assets
- Receivables within one year +€74,167
up €74,167 (+190%), from €39,070 to €113,236
of which Other amounts receivable: +€74,306
- Tangible fixed assets +€59,050
up €59,050 (+136%), from €43,282 to €102,332
of which Land and buildings: +€64,508
- Cash +€34,689
up €34,689 (+146%), from €23,686 to €58,375
mainly Net result for the year (+€108,518) and Debts after one year (+€45,671)
Equity and liabilities
- Reserves +€108,518
up €108,518 (+84.8%), from €127,942 to €236,460
- Debts after one year +€45,671
new in 2025: €45,671
- Current portion of long-term debt +€18,159
new in 2025: €18,159
- Trade debts -€4,821
down €4,821 (-71.3%), from €6,765 to €1,944
Income statement
- Gross operating margin +€65,243
up €65,243 (+60.6%), from €107,654 to €172,896
- Taxes +€23,251
up €23,251 (+90.5%), from €25,700 to €48,951
- Financial income +€4,086
up €4,086 (+2,808%), from €146 to €4,231
- Depreciation +€3,424
up €3,424 (+84.5%), from €4,051 to €7,475
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€64,586
Gross operating margin
+€65,243
Depreciation
-€3,424
Other operating charges
-€178
Financial income
+€4,086
Financial charges
+€1,456
Taxes
-€23,251
Result 2025
€108,518
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€37,383
Investment
-€66,525
Financing
+€63,830
Cash 2024
€23,686
From operations (derived)
+€37,383
Net result for the year
+€108,518
Depreciation
+€7,475
Receivables within one year
-€74,167
Deferred charges and accrued income
-€12
Trade debts
-€4,821
Tax, wage and social debts
-€1,749
Advances received
+€290
Accrued charges and deferred income
+€1,850
Investment (derived)
-€66,525
Investment in fixed assets (net)
-€66,525
Financing
+€63,830
Debts after one year
+€45,671
Current portion of long-term debt
+€18,159
Cash 2025
€58,375
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €309,582 | €477,499 | +€167,918 | +54.2% |
| Fixed assets | 21/28 | €45,682 | €104,732 | +€59,050 | +129% |
| Tangible fixed assets | 22/27 | €43,282 | €102,332 | +€59,050 | +136% |
| Land and buildings | 22 | - | €64,508 | +€64,508 | |
| Plant, machinery and equipment | 23 | €2,958 | €2,230 | -€728 | -24.6% |
| Furniture and vehicles | 24 | €2,437 | €2,105 | -€333 | -13.6% |
| Other tangible fixed assets | 26 | €37,887 | €33,489 | -€4,398 | -11.6% |
| Financial fixed assets | 28 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €263,900 | €372,767 | +€108,868 | +41.3% |
| Amounts receivable after more than one year | 29 | €200,000 | €200,000 | = | 0.0% |
| Other amounts receivable | 291 | €200,000 | €200,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €39,070 | €113,236 | +€74,167 | +190% |
| Trade receivables | 40 | €139 | - | -€139 | |
| Other amounts receivable | 41 | €38,931 | €113,236 | +€74,306 | +191% |
| Cash at bank and in hand | 54/58 | €23,686 | €58,375 | +€34,689 | +146% |
| Deferred charges and accrued income | 490/1 | €1,144 | €1,156 | +€12 | +1.1% |
| Total equity and liabilities | 10/49 | €309,582 | €477,499 | +€167,918 | +54.2% |
| Equity | 10/15 | €140,342 | €248,860 | +€108,518 | +77.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €127,942 | €236,460 | +€108,518 | +84.8% |
| Distributable reserves | 133 | €127,942 | €236,460 | +€108,518 | +84.8% |
| Amounts payable | 17/49 | €169,240 | €228,639 | +€59,400 | +35.1% |
| Amounts payable after more than one year | 17 | - | €45,671 | +€45,671 | |
| Financial debts | 170/4 | - | €45,671 | +€45,671 | |
| Amounts payable within one year | 42/48 | €144,426 | €156,306 | +€11,879 | +8.2% |
| Current portion of amounts payable after more than one year | 42 | - | €18,159 | +€18,159 | |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €6,765 | €1,944 | -€4,821 | -71.3% |
| Suppliers | 440/4 | €6,765 | €1,944 | -€4,821 | -71.3% |
| Advances received on contracts in progress | 46 | - | €290 | +€290 | |
| Taxes, remuneration and social security | 45 | €33,662 | €31,912 | -€1,749 | -5.2% |
| Taxes | 450/3 | €30,206 | €28,457 | -€1,749 | -5.8% |
| Remuneration and social security | 454/9 | €3,456 | €3,456 | = | 0.0% |
| Other amounts payable | 47/48 | €4,000 | €4,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €24,813 | €26,663 | +€1,850 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,051 | €7,475 | +€3,424 | +84.5% |
| Other operating charges | 640/8 | €1,949 | €2,127 | +€178 | +9.1% |
| Gross operating margin | 9900 | €107,654 | €172,896 | +€65,243 | +60.6% |
| Operating profit (loss) | 9901 | €101,654 | €163,294 | +€61,641 | +60.6% |
| Financial income | 75/76B | €146 | €4,231 | +€4,086 | +2,808% |
| Recurring financial income | 75 | €146 | €4,231 | +€4,086 | +2,808% |
| Financial charges | 65/66B | €11,513 | €10,057 | -€1,456 | -12.6% |
| Recurring financial charges | 65 | €11,513 | €10,057 | -€1,456 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €90,286 | €157,469 | +€67,182 | +74.4% |
| Income taxes | 67/77 | €25,700 | €48,951 | +€23,251 | +90.5% |
| Profit (loss) for the period | 9904 | €64,586 | €108,518 | +€43,931 | +68.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,586 | €108,518 | +€43,931 | +68.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.