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.
G. RAATS SERVICES
Largest movements
- Current investments +€25,000
new in 2025: €25,000
- Cash -€16,086
down €16,086 (-14.3%), from €112,203 to €96,117
mainly Other debts (-€83,300) and Trade debts (-€35,441)
- Reserves +€136,953
up €136,953 (+40.8%), from €335,734 to €472,686
- Other debts -€83,300
down €83,300 (-54.4%), from €152,998 to €69,698
- Trade debts -€35,441
down €35,441 (-19.9%), from €178,538 to €143,098
- Debts after one year -€15,490
down €15,490 (-13.7%), from €113,213 to €97,724
- Gross operating margin +€56,223
up €56,223 (+31.9%), from €176,228 to €232,451
- Depreciation +€19,414
up €19,414 (+169.5%), from €11,457 to €30,871
- Taxes +€11,969
up €11,969 (+25.9%), from €46,291 to €58,260
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 | €821,715 | €831,743 | +€10,027 | +1.2% |
| Fixed assets | 21/28 | €579,518 | €575,377 | -€4,141 | -0.7% |
| Tangible fixed assets | 22/27 | €577,018 | €572,877 | -€4,141 | -0.7% |
| Land and buildings | 22 | €143,800 | €529,452 | +€385,652 | +268.2% |
| Plant, machinery and equipment | 23 | €10,228 | €7,278 | -€2,950 | -28.8% |
| Furniture and vehicles | 24 | €48,366 | €36,147 | -€12,219 | -25.3% |
| Other tangible fixed assets | 26 | €374,624 | - | -€374,624 | |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €242,197 | €256,365 | +€14,168 | +5.8% |
| Amounts receivable within one year | 40/41 | €128,687 | €133,817 | +€5,131 | +4.0% |
| Trade receivables | 40 | €48,319 | €123,907 | +€75,588 | +156.4% |
| Other amounts receivable | 41 | €80,368 | €9,910 | -€70,458 | -87.7% |
| Current investments | 50/53 | - | €25,000 | +€25,000 | |
| Cash at bank and in hand | 54/58 | €112,203 | €96,117 | -€16,086 | -14.3% |
| Deferred charges and accrued income | 490/1 | €1,308 | €1,431 | +€124 | +9.5% |
| Total equity and liabilities | 10/49 | €821,715 | €831,743 | +€10,027 | +1.2% |
| Equity | 10/15 | €338,734 | €475,686 | +€136,953 | +40.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €335,734 | €472,686 | +€136,953 | +40.8% |
| Distributable reserves | 133 | €335,734 | €472,686 | +€136,953 | +40.8% |
| Amounts payable | 17/49 | €482,982 | €356,056 | -€126,926 | -26.3% |
| Amounts payable after more than one year | 17 | €113,213 | €97,724 | -€15,490 | -13.7% |
| Financial debts | 170/4 | €113,213 | €97,724 | -€15,490 | -13.7% |
| Amounts payable within one year | 42/48 | €369,468 | €256,366 | -€113,102 | -30.6% |
| Current portion of amounts payable after more than one year | 42 | €14,892 | €13,560 | -€1,331 | -8.9% |
| Trade debts | 44 | €178,538 | €143,098 | -€35,441 | -19.9% |
| Suppliers | 440/4 | €178,538 | €143,098 | -€35,441 | -19.9% |
| Taxes, remuneration and social security | 45 | €23,041 | €30,010 | +€6,969 | +30.2% |
| Taxes | 450/3 | €21,291 | €28,260 | +€6,969 | +32.7% |
| Remuneration and social security | 454/9 | €1,750 | €1,750 | = | 0.0% |
| Other amounts payable | 47/48 | €152,998 | €69,698 | -€83,300 | -54.4% |
| Accrued charges and deferred income | 492/3 | €300 | €1,966 | +€1,666 | +555.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,457 | €30,871 | +€19,414 | +169.5% |
| Other operating charges | 640/8 | €187 | €1,378 | +€1,191 | +636.4% |
| Gross operating margin | 9900 | €176,228 | €232,451 | +€56,223 | +31.9% |
| Operating profit (loss) | 9901 | €164,584 | €200,202 | +€35,618 | +21.6% |
| Financial income | 75/76B | €1 | €32 | +€31 | +3078.4% |
| Recurring financial income | 75 | €1 | €32 | +€31 | +3078.4% |
| Financial charges | 65/66B | €5,550 | €5,022 | -€529 | -9.5% |
| Recurring financial charges | 65 | €5,550 | €5,022 | -€529 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €159,034 | €195,213 | +€36,179 | +22.7% |
| Income taxes | 67/77 | €46,291 | €58,260 | +€11,969 | +25.9% |
| Profit (loss) for the period | 9904 | €112,743 | €136,953 | +€24,210 | +21.5% |
| Profit (loss) for the period to be appropriated | 9905 | €112,743 | €136,953 | +€24,210 | +21.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 September 2026 via checked.be.