RAVENSTEIN: what changed
Two fiscal 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.
RAVENSTEIN
Largest movements
- Tangible fixed assets -€15,223
down €15,223 (-3.9%), from €385,393 to €370,171
of which Land and buildings: -€14,828
- Cash +€6,080
up €6,080 (+4.1%), from €148,491 to €154,571
mainly Net result for the year (+€17,088) and Depreciation (+€15,223)
- Debts after one year -€11,581
down €11,581 (-32.3%), from €35,855 to €24,274
- Gross operating margin -€12,946
down €12,946 (-20.3%), from €63,825 to €50,879
- Depreciation -€11,135
down €11,135 (-42.2%), from €26,357 to €15,223
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.
Cash bridge derived
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 | €540,697 | €530,581 | -€10,116 | -1.9% |
| Fixed assets | 21/28 | €385,393 | €370,171 | -€15,223 | -3.9% |
| Tangible fixed assets | 22/27 | €385,393 | €370,171 | -€15,223 | -3.9% |
| Land and buildings | 22 | €384,223 | €369,395 | -€14,828 | -3.9% |
| Plant, machinery and equipment | 23 | €645 | €610 | -€34 | -5.3% |
| Furniture and vehicles | 24 | €525 | €166 | -€360 | -68.5% |
| Current assets | 29/58 | €155,304 | €160,410 | +€5,107 | +3.3% |
| Amounts receivable within one year | 40/41 | €2,457 | €2,416 | -€41 | -1.7% |
| Other amounts receivable | 41 | €2,457 | €2,416 | -€41 | -1.7% |
| Cash at bank and in hand | 54/58 | €148,491 | €154,571 | +€6,080 | +4.1% |
| Deferred charges and accrued income | 490/1 | €4,356 | €3,424 | -€932 | -21.4% |
| Total equity and liabilities | 10/49 | €540,697 | €530,581 | -€10,116 | -1.9% |
| Equity | 10/15 | €480,569 | €475,669 | -€4,900 | -1.0% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €415,569 | €410,669 | -€4,900 | -1.2% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €83,555 | €78,998 | -€4,558 | -5.5% |
| Distributable reserves | 133 | €325,514 | €325,172 | -€342 | -0.1% |
| Amounts payable | 17/49 | €60,128 | €54,911 | -€5,216 | -8.7% |
| Amounts payable after more than one year | 17 | €35,855 | €24,274 | -€11,581 | -32.3% |
| Financial debts | 170/4 | €35,855 | €24,274 | -€11,581 | -32.3% |
| Amounts payable within one year | 42/48 | €24,273 | €29,912 | +€5,639 | +23.2% |
| Current portion of amounts payable after more than one year | 42 | €11,226 | €11,581 | +€355 | +3.2% |
| Trade debts | 44 | €2,095 | €31 | -€2,064 | -98.5% |
| Suppliers | 440/4 | €2,095 | €31 | -€2,064 | -98.5% |
| Taxes, remuneration and social security | 45 | - | €3,018 | +€3,018 | |
| Taxes | 450/3 | - | €3,018 | +€3,018 | |
| Other amounts payable | 47/48 | €10,953 | €15,283 | +€4,330 | +39.5% |
| Accrued charges and deferred income | 492/3 | - | €726 | +€726 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,357 | €15,223 | -€11,135 | -42.2% |
| Other operating charges | 640/8 | €5,610 | €5,897 | +€287 | +5.1% |
| Gross operating margin | 9900 | €63,825 | €50,879 | -€12,946 | -20.3% |
| Operating profit (loss) | 9901 | €31,857 | €29,760 | -€2,098 | -6.6% |
| Financial charges | 65/66B | €2,020 | €1,654 | -€366 | -18.1% |
| Recurring financial charges | 65 | €2,020 | €1,654 | -€366 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €29,837 | €28,105 | -€1,732 | -5.8% |
| Income taxes | 67/77 | €11,584 | €11,018 | -€567 | -4.9% |
| Profit (loss) for the period | 9904 | €18,253 | €17,088 | -€1,165 | -6.4% |
| Transfer from tax-exempt reserves | 789 | €4,558 | €4,558 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,811 | €21,645 | -€1,165 | -5.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.