RAF GHESELLE: what changed
What changed
RAF GHESELLE
NACE 43.310, Plastering work
filed annual accounts (NBB)
Net result for the year
€15,352
2024 · -€11,454+€26,806
Equity
€29,324
2024 · €13,972+€15,352
Cash
€784
2024 · €1,307-€523
Balance sheet total
€58,791
2024 · €43,726+€15,065
Largest movements
Assets
- Receivables within one year +€16,421
up €16,421 (+43.8%), from €37,513 to €53,933
of which Other amounts receivable: +€11,769
- Tangible fixed assets -€1,635
down €1,635 (-38.1%), from €4,286 to €2,652
of which Furniture and vehicles: -€1,100
- Deferred charges and accrued income +€802
up €802 (+130%), from €619 to €1,422
Equity and liabilities
- Profit (loss) carried forward +€15,352
up €15,352 (+54.3%), from -€28,253 to -€12,900
- Debts after one year -€5,167
down €5,167 (-69.7%), from €7,410 to €2,243
- Short-term financial debts +€3,476
up €3,476 (+43.8%), from €7,943 to €11,419
- Accrued charges and deferred income +€1,821
new in 2025: €1,821
- Tax, wage and social debts -€919
down €919 (-35.7%), from €2,571 to €1,652
Income statement
- Gross operating margin +€26,085
up €26,085, from -€4,233 to €21,851
- Depreciation -€1,060
down €1,060 (-39.3%), from €2,695 to €1,635
- Taxes +€809
up €809 (+615%), from €132 to €940
- Financial charges -€304
down €304 (-7.1%), from €4,260 to €3,956
- Other operating charges -€267
down €267 (-18.9%), from €1,413 to €1,146
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
-€11,454
Gross operating margin
+€26,085
Depreciation
+€1,060
Other operating charges
+€267
Financial income
-€102
Financial charges
+€304
Taxes
-€809
Result 2025
€15,352
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
+€875
Investment
€0
Financing
-€1,398
Cash 2024
€1,307
From operations (derived)
+€875
Net result for the year
+€15,352
Depreciation
+€1,635
Receivables within one year
-€16,421
Deferred charges and accrued income
-€802
Trade debts
+€210
Tax, wage and social debts
-€919
Accrued charges and deferred income
+€1,821
Financing
-€1,398
Debts after one year
-€5,167
Current portion of long-term debt
+€292
Short-term financial debts
+€3,476
Cash 2025
€784
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,726 | €58,791 | +€15,065 | +34.5% |
| Fixed assets | 21/28 | €4,286 | €2,652 | -€1,635 | -38.1% |
| Tangible fixed assets | 22/27 | €4,286 | €2,652 | -€1,635 | -38.1% |
| Plant, machinery and equipment | 23 | €1,403 | €869 | -€534 | -38.1% |
| Furniture and vehicles | 24 | €2,883 | €1,783 | -€1,100 | -38.2% |
| Current assets | 29/58 | €39,439 | €56,139 | +€16,700 | +42.3% |
| Amounts receivable within one year | 40/41 | €37,513 | €53,933 | +€16,421 | +43.8% |
| Trade receivables | 40 | €3,067 | €7,719 | +€4,652 | +152% |
| Other amounts receivable | 41 | €34,445 | €46,215 | +€11,769 | +34.2% |
| Cash at bank and in hand | 54/58 | €1,307 | €784 | -€523 | -40.0% |
| Deferred charges and accrued income | 490/1 | €619 | €1,422 | +€802 | +130% |
| Total equity and liabilities | 10/49 | €43,726 | €58,791 | +€15,065 | +34.5% |
| Equity | 10/15 | €13,972 | €29,324 | +€15,352 | +110% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €36,025 | €36,025 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €34,165 | €34,165 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,253 | -€12,900 | +€15,352 | +54.3% |
| Amounts payable | 17/49 | €29,754 | €29,467 | -€287 | -1.0% |
| Amounts payable after more than one year | 17 | €7,410 | €2,243 | -€5,167 | -69.7% |
| Financial debts | 170/4 | €7,410 | €2,243 | -€5,167 | -69.7% |
| Amounts payable within one year | 42/48 | €22,344 | €25,403 | +€3,059 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €4,875 | €5,167 | +€292 | +6.0% |
| Financial debts | 43 | €7,943 | €11,419 | +€3,476 | +43.8% |
| Credit institutions | 430/8 | €7,943 | €11,419 | +€3,476 | +43.8% |
| Trade debts | 44 | €6,955 | €7,165 | +€210 | +3.0% |
| Suppliers | 440/4 | €6,955 | €7,165 | +€210 | +3.0% |
| Taxes, remuneration and social security | 45 | €2,571 | €1,652 | -€919 | -35.7% |
| Taxes | 450/3 | €2,571 | €1,652 | -€919 | -35.7% |
| Accrued charges and deferred income | 492/3 | - | €1,821 | +€1,821 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,695 | €1,635 | -€1,060 | -39.3% |
| Other operating charges | 640/8 | €1,413 | €1,146 | -€267 | -18.9% |
| Gross operating margin | 9900 | -€4,233 | €21,851 | +€26,085 | |
| Operating profit (loss) | 9901 | -€8,341 | €19,071 | +€27,412 | |
| Financial income | 75/76B | €1,279 | €1,177 | -€102 | -7.9% |
| Recurring financial income | 75 | €1,279 | €1,177 | -€102 | -7.9% |
| Financial charges | 65/66B | €4,260 | €3,956 | -€304 | -7.1% |
| Recurring financial charges | 65 | €4,260 | €3,956 | -€304 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | -€11,322 | €16,293 | +€27,615 | |
| Income taxes | 67/77 | €132 | €940 | +€809 | +615% |
| Profit (loss) for the period | 9904 | -€11,454 | €15,352 | +€26,806 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,454 | €15,352 | +€26,806 |
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 3 November 2026 via checked.be.