RAFDIA: 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.
RAFDIA
Largest movements
- Tangible fixed assets -€11,907
down €11,907 (-11.1%), from €107,545 to €95,639
of which Leasing and similar rights: -€9,771
- Cash +€5,688
up €5,688 (+31.6%), from €18,017 to €23,706
mainly Current portion of long-term debt (+€19,782) and Net result for the year (+€14,216)
- Receivables within one year +€1,783
up €1,783 (+20.4%), from €8,729 to €10,512
- Debts after one year -€39,281
down €39,281 (-66.3%), from €59,209 to €19,928
- Current portion of long-term debt +€19,782
new in 2025: €19,782
- Reserves +€14,216
up €14,216 (+94.6%), from €15,023 to €29,239
- Tax, wage and social debts +€6,827
up €6,827 (+91.8%), from €7,438 to €14,266
of which Taxes: +€4,641
- Trade debts -€6,069
down €6,069 (-16.4%), from €36,968 to €30,899
- Gross operating margin +€28,915
up €28,915 (+55.4%), from €52,153 to €81,068
- Staff costs +€22,877
up €22,877 (+97.7%), from €23,410 to €46,287
- Depreciation +€5,698
up €5,698 (+79.2%), from €7,197 to €12,895
- Financial charges +€1,831
up €1,831 (+115.6%), from €1,584 to €3,415
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 | €136,639 | €132,333 | -€4,305 | -3.2% |
| Fixed assets | 21/28 | €107,545 | €95,639 | -€11,907 | -11.1% |
| Tangible fixed assets | 22/27 | €107,545 | €95,639 | -€11,907 | -11.1% |
| Furniture and vehicles | 24 | - | €950 | +€950 | |
| Leasing and similar rights | 25 | €78,361 | €68,591 | -€9,771 | -12.5% |
| Other tangible fixed assets | 26 | €29,184 | €26,099 | -€3,086 | -10.6% |
| Current assets | 29/58 | €29,093 | €36,694 | +€7,601 | +26.1% |
| Stocks and contracts in progress | 3 | €2,347 | €2,109 | -€238 | -10.1% |
| Stocks | 30/36 | €2,347 | €2,109 | -€238 | -10.1% |
| Amounts receivable within one year | 40/41 | €8,729 | €10,512 | +€1,783 | +20.4% |
| Other amounts receivable | 41 | €8,729 | €10,512 | +€1,783 | +20.4% |
| Cash at bank and in hand | 54/58 | €18,017 | €23,706 | +€5,688 | +31.6% |
| Deferred charges and accrued income | 490/1 | - | €368 | +€368 | |
| Total equity and liabilities | 10/49 | €136,639 | €132,333 | -€4,305 | -3.2% |
| Equity | 10/15 | €18,023 | €32,239 | +€14,216 | +78.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €15,023 | €29,239 | +€14,216 | +94.6% |
| Distributable reserves | 133 | €15,023 | €29,239 | +€14,216 | +94.6% |
| Amounts payable | 17/49 | €118,616 | €100,095 | -€18,521 | -15.6% |
| Amounts payable after more than one year | 17 | €59,209 | €19,928 | -€39,281 | -66.3% |
| Financial debts | 170/4 | €59,209 | €19,928 | -€39,281 | -66.3% |
| Amounts payable within one year | 42/48 | €59,407 | €80,167 | +€20,760 | +34.9% |
| Current portion of amounts payable after more than one year | 42 | - | €19,782 | +€19,782 | |
| Trade debts | 44 | €36,968 | €30,899 | -€6,069 | -16.4% |
| Suppliers | 440/4 | €36,968 | €30,899 | -€6,069 | -16.4% |
| Taxes, remuneration and social security | 45 | €7,438 | €14,266 | +€6,827 | +91.8% |
| Taxes | 450/3 | €5,242 | €9,883 | +€4,641 | +88.5% |
| Remuneration and social security | 454/9 | €2,196 | €4,383 | +€2,186 | +99.5% |
| Other amounts payable | 47/48 | €15,000 | €15,220 | +€220 | +1.5% |
| Remuneration, social security and pensions | 62 | €23,410 | €46,287 | +€22,877 | +97.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,197 | €12,895 | +€5,698 | +79.2% |
| Other operating charges | 640/8 | €652 | €576 | -€76 | -11.6% |
| Gross operating margin | 9900 | €52,153 | €81,068 | +€28,915 | +55.4% |
| Operating profit (loss) | 9901 | €20,894 | €21,310 | +€416 | +2.0% |
| Financial income | 75/76B | €8 | €370 | +€362 | +4428.6% |
| Recurring financial income | 75 | €8 | €370 | +€362 | +4428.6% |
| Financial charges | 65/66B | €1,584 | €3,415 | +€1,831 | +115.6% |
| Recurring financial charges | 65 | €1,584 | €3,415 | +€1,831 | +115.6% |
| Profit (loss) for the period before taxes | 9903 | €19,318 | €18,266 | -€1,052 | -5.4% |
| Income taxes | 67/77 | €4,295 | €4,050 | -€245 | -5.7% |
| Profit (loss) for the period | 9904 | €15,023 | €14,216 | -€807 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,023 | €14,216 | -€807 | -5.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.