RAFALE ENGINEERING: 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.
RAFALE ENGINEERING
Largest movements
- Cash -€50,121
down €50,121 (-47.5%), from €105,466 to €55,345
mainly Contributions, distributions and other (-€26,400) and Receivables within one year (-€22,873)
- Receivables within one year +€22,873
up €22,873 (+73.5%), from €31,120 to €53,993
of which Trade receivables: +€13,745
- Tangible fixed assets -€4,919
down €4,919 (-24.6%), from €20,004 to €15,085
- Deferred charges and accrued income +€2,870
up €2,870 (+549%), from €523 to €3,393
- Reserves -€29,652
down €29,652 (-25.2%), from €117,445 to €87,793
- Other debts -€4,495
down €4,495 (-30.1%), from €14,950 to €10,455
- Trade debts +€3,393
up €3,393 (+234%), from €1,448 to €4,841
- Gross operating margin -€6,934
down €6,934 (-37.1%), from €18,687 to €11,753
- Taxes -€2,093
down €2,093 (-70.6%), from €2,964 to €871
- Depreciation +€1,049
up €1,049 (+8.9%), from €11,744 to €12,793
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 | €157,138 | €127,841 | -€29,297 | -18.6% |
| Fixed assets | 21/28 | €20,029 | €15,110 | -€4,919 | -24.6% |
| Tangible fixed assets | 22/27 | €20,004 | €15,085 | -€4,919 | -24.6% |
| Furniture and vehicles | 24 | €20,004 | €15,085 | -€4,919 | -24.6% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €137,109 | €112,731 | -€24,378 | -17.8% |
| Amounts receivable within one year | 40/41 | €31,120 | €53,993 | +€22,873 | +73.5% |
| Trade receivables | 40 | €9,083 | €22,828 | +€13,745 | +151% |
| Other amounts receivable | 41 | €22,037 | €31,165 | +€9,128 | +41.4% |
| Cash at bank and in hand | 54/58 | €105,466 | €55,345 | -€50,121 | -47.5% |
| Deferred charges and accrued income | 490/1 | €523 | €3,393 | +€2,870 | +549% |
| Total equity and liabilities | 10/49 | €157,138 | €127,841 | -€29,297 | -18.6% |
| Equity | 10/15 | €136,045 | €106,393 | -€29,652 | -21.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €117,445 | €87,793 | -€29,652 | -25.2% |
| Distributable reserves | 133 | €117,445 | €87,793 | -€29,652 | -25.2% |
| Amounts payable | 17/49 | €21,093 | €21,448 | +€355 | +1.7% |
| Amounts payable within one year | 42/48 | €21,093 | €21,448 | +€355 | +1.7% |
| Trade debts | 44 | €1,448 | €4,841 | +€3,393 | +234% |
| Suppliers | 440/4 | €1,448 | €4,841 | +€3,393 | +234% |
| Taxes, remuneration and social security | 45 | €4,695 | €6,152 | +€1,457 | +31.0% |
| Taxes | 450/3 | €1,970 | €3,409 | +€1,439 | +73.0% |
| Remuneration and social security | 454/9 | €2,725 | €2,743 | +€18 | +0.7% |
| Other amounts payable | 47/48 | €14,950 | €10,455 | -€4,495 | -30.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,744 | €12,793 | +€1,049 | +8.9% |
| Other operating charges | 640/8 | €1,189 | €1,233 | +€44 | +3.7% |
| Gross operating margin | 9900 | €18,687 | €11,753 | -€6,934 | -37.1% |
| Operating profit (loss) | 9901 | €5,754 | -€2,273 | -€8,027 | |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €132 | €108 | -€24 | -18.2% |
| Recurring financial charges | 65 | €132 | €108 | -€24 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €5,625 | -€2,381 | -€8,006 | |
| Income taxes | 67/77 | €2,964 | €871 | -€2,093 | -70.6% |
| Profit (loss) for the period | 9904 | €2,661 | -€3,252 | -€5,913 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,661 | -€3,252 | -€5,913 |
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 20 October 2026 via checked.be.