R&F CONSTRUCT: 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.
R&F CONSTRUCT
Largest movements
- Receivables within one year +€16,142
up €16,142 (+126%), from €12,808 to €28,950
of which Trade receivables: +€11,681
- Cash +€12,579
up €12,579 (+367%), from €3,432 to €16,011
mainly Net result for the year (+€32,629) and Trade debts (+€16,034)
- Tangible fixed assets +€6,907
up €6,907 (+219%), from €3,158 to €10,065
of which Furniture and vehicles: +€7,135
- Deferred charges and accrued income +€4,590
up €4,590 (+538%), from €853 to €5,442
- Profit (loss) carried forward +€32,629
up €32,629, from -€26,247 to €6,382
- Trade debts +€16,034
up €16,034 (+98.8%), from €16,230 to €32,265
- Current portion of long-term debt -€9,384
down €9,384 (-100%), from €9,384 to €0
- Short-term financial debts -€1,037
down €1,037 (-15.5%), from €6,667 to €5,630
- Accrued charges and deferred income +€1,011
new in 2024: €1,011
- Gross operating margin +€59,140
up €59,140 (+110%), from €53,833 to €112,973
- Staff costs +€15,144
up €15,144 (+26.6%), from €56,866 to €72,010
- Other operating charges +€6,130
up €6,130 (+3,812%), from €161 to €6,290
- Write-downs -€6,047
new in 2024: -€6,047
- Financial charges +€3,696
up €3,696 (+271%), from €1,362 to €5,058
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,525 | €60,743 | +€40,217 | +196% |
| Fixed assets | 21/28 | €3,432 | €10,339 | +€6,907 | +201% |
| Tangible fixed assets | 22/27 | €3,158 | €10,065 | +€6,907 | +219% |
| Plant, machinery and equipment | 23 | €753 | €525 | -€228 | -30.3% |
| Furniture and vehicles | 24 | €2,405 | €9,540 | +€7,135 | +297% |
| Financial fixed assets | 28 | €274 | €274 | = | 0.0% |
| Current assets | 29/58 | €17,093 | €50,404 | +€33,311 | +195% |
| Amounts receivable within one year | 40/41 | €12,808 | €28,950 | +€16,142 | +126% |
| Trade receivables | 40 | €9,935 | €21,616 | +€11,681 | +118% |
| Other amounts receivable | 41 | €2,873 | €7,335 | +€4,461 | +155% |
| Cash at bank and in hand | 54/58 | €3,432 | €16,011 | +€12,579 | +367% |
| Deferred charges and accrued income | 490/1 | €853 | €5,442 | +€4,590 | +538% |
| Total equity and liabilities | 10/49 | €20,525 | €60,743 | +€40,217 | +196% |
| Equity | 10/15 | -€21,271 | €11,358 | +€32,629 | |
| Contributions | 10/11 | €976 | €976 | = | 0.0% |
| Reserves | 13 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,247 | €6,382 | +€32,629 | |
| Amounts payable | 17/49 | €41,796 | €49,385 | +€7,588 | +18.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €41,796 | €48,374 | +€6,577 | +15.7% |
| Current portion of amounts payable after more than one year | 42 | €9,384 | €0 | -€9,384 | -100% |
| Financial debts | 43 | €6,667 | €5,630 | -€1,037 | -15.5% |
| Credit institutions | 430/8 | €6,667 | €5,630 | -€1,037 | -15.5% |
| Trade debts | 44 | €16,230 | €32,265 | +€16,034 | +98.8% |
| Suppliers | 440/4 | €16,230 | €32,265 | +€16,034 | +98.8% |
| Taxes, remuneration and social security | 45 | €3,403 | €4,339 | +€936 | +27.5% |
| Taxes | 450/3 | €0 | €1,277 | +€1,277 | |
| Remuneration and social security | 454/9 | €3,403 | €3,062 | -€341 | -10.0% |
| Other amounts payable | 47/48 | €6,113 | €6,140 | +€27 | +0.4% |
| Accrued charges and deferred income | 492/3 | - | €1,011 | +€1,011 | |
| Non-recurring operating income | 76A | - | €10,500 | +€10,500 | |
| Remuneration, social security and pensions | 62 | €56,866 | €72,010 | +€15,144 | +26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,759 | €2,093 | +€334 | +19.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€6,047 | -€6,047 | |
| Other operating charges | 640/8 | €161 | €6,290 | +€6,130 | +3,812% |
| Gross operating margin | 9900 | €53,833 | €112,973 | +€59,140 | +110% |
| Operating profit (loss) | 9901 | -€4,953 | €38,627 | +€43,580 | |
| Financial charges | 65/66B | €1,362 | €5,058 | +€3,696 | +271% |
| Recurring financial charges | 65 | €1,362 | €5,058 | +€3,696 | +271% |
| Profit (loss) for the period before taxes | 9903 | -€6,315 | €33,569 | +€39,883 | |
| Income taxes | 67/77 | - | €940 | +€940 | |
| Profit (loss) for the period | 9904 | -€6,315 | €32,629 | +€38,944 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,315 | €32,629 | +€38,944 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.