IMMO RAYMACKERS: 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.
IMMO RAYMACKERS
Largest movements
- Receivables within one year +€36,932
up €36,932 (+40.1%), from €92,141 to €129,073
of which Trade receivables: +€71,281
- Cash -€14,795
down €14,795 (-92.1%), from €16,067 to €1,272
mainly Investment in fixed assets (net) (-€80,701) and Debts after one year (-€66,598)
- Debts after one year -€66,598
down €66,598 (-26.2%), from €253,922 to €187,325
- Other debts +€30,938
up €30,938 (+236%), from €13,088 to €44,025
- Trade debts +€28,803
up €28,803 (+151%), from €19,025 to €47,828
- Reserves +€27,894
up €27,894 (+3.7%), from €761,604 to €789,498
of which Distributable reserves: +€27,894
- Gross operating margin +€45,137
up €45,137 (+45.8%), from €98,502 to €143,639
- Financial income -€9,458
down €9,458 (-71.1%), from €13,295 to €3,836
- Taxes +€2,789
up €2,789 (+9,297,767%), from €0 to €2,789
- Depreciation +€2,646
up €2,646 (+3.0%), from €88,865 to €91,511
- Other operating charges +€1,768
up €1,768 (+14.3%), from €12,348 to €14,116
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 | €1,189,683 | €1,202,583 | +€12,901 | +1.1% |
| Fixed assets | 21/28 | €951,234 | €940,424 | -€10,810 | -1.1% |
| Tangible fixed assets | 22/27 | €951,234 | €940,424 | -€10,810 | -1.1% |
| Land and buildings | 22 | €900,427 | €893,177 | -€7,250 | -0.8% |
| Plant, machinery and equipment | 23 | €48,713 | €45,410 | -€3,303 | -6.8% |
| Furniture and vehicles | 24 | €2,094 | €1,838 | -€256 | -12.2% |
| Current assets | 29/58 | €238,449 | €262,159 | +€23,711 | +9.9% |
| Amounts receivable after more than one year | 29 | €116,000 | €116,000 | = | 0.0% |
| Other amounts receivable | 291 | €116,000 | €116,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €92,141 | €129,073 | +€36,932 | +40.1% |
| Trade receivables | 40 | €50,292 | €121,573 | +€71,281 | +142% |
| Other amounts receivable | 41 | €41,849 | €7,500 | -€34,349 | -82.1% |
| Cash at bank and in hand | 54/58 | €16,067 | €1,272 | -€14,795 | -92.1% |
| Deferred charges and accrued income | 490/1 | €14,241 | €15,814 | +€1,573 | +11.0% |
| Total equity and liabilities | 10/49 | €1,189,683 | €1,202,583 | +€12,901 | +1.1% |
| Equity | 10/15 | €768,064 | €795,958 | +€27,894 | +3.6% |
| Contributions | 10/11 | €6,460 | €6,460 | = | 0.0% |
| Reserves | 13 | €761,604 | €789,498 | +€27,894 | +3.7% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €83,255 | €83,255 | = | 0.0% |
| Distributable reserves | 133 | €676,449 | €704,343 | +€27,894 | +4.1% |
| Amounts payable | 17/49 | €421,618 | €406,625 | -€14,993 | -3.6% |
| Amounts payable after more than one year | 17 | €253,922 | €187,325 | -€66,598 | -26.2% |
| Financial debts | 170/4 | €253,922 | €187,325 | -€66,598 | -26.2% |
| Amounts payable within one year | 42/48 | €167,696 | €219,301 | +€51,604 | +30.8% |
| Current portion of amounts payable after more than one year | 42 | €74,225 | €71,069 | -€3,156 | -4.3% |
| Financial debts | 43 | €50,958 | €52,351 | +€1,392 | +2.7% |
| Credit institutions | 430/8 | €50,958 | €52,351 | +€1,392 | +2.7% |
| Trade debts | 44 | €19,025 | €47,828 | +€28,803 | +151% |
| Suppliers | 440/4 | €19,025 | €47,828 | +€28,803 | +151% |
| Taxes, remuneration and social security | 45 | €10,400 | €4,028 | -€6,372 | -61.3% |
| Taxes | 450/3 | €10,400 | €4,028 | -€6,372 | -61.3% |
| Other amounts payable | 47/48 | €13,088 | €44,025 | +€30,938 | +236% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,865 | €91,511 | +€2,646 | +3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €12,348 | €14,116 | +€1,768 | +14.3% |
| Gross operating margin | 9900 | €98,502 | €143,639 | +€45,137 | +45.8% |
| Operating profit (loss) | 9901 | -€2,711 | €38,012 | +€40,723 | |
| Financial income | 75/76B | €13,295 | €3,836 | -€9,458 | -71.1% |
| Recurring financial income | 75 | €13,295 | €3,836 | -€9,458 | -71.1% |
| Financial charges | 65/66B | €11,833 | €11,165 | -€668 | -5.6% |
| Recurring financial charges | 65 | €11,833 | €11,165 | -€668 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,249 | €30,683 | +€31,932 | |
| Income taxes | 67/77 | €0 | €2,789 | +€2,789 | +9,297,767% |
| Profit (loss) for the period | 9904 | -€1,249 | €27,894 | +€29,143 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,249 | €27,894 | +€29,143 |
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 15 October 2026 via checked.be.