RAFI BAGBAN: 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.
RAFI BAGBAN
Largest movements
- Cash +€24,923
up €24,923 (+106%), from €23,545 to €48,469
mainly Net result for the year (+€15,501) and Stocks and contracts (+€5,739)
- Stocks and contracts -€5,739
down €5,739 (-9.6%), from €59,900 to €54,161
- Tangible fixed assets -€1,478
no longer reported in 2025 (was €1,478)
- Profit (loss) carried forward +€15,501
up €15,501 (+21.1%), from €73,606 to €89,107
- Tax, wage and social debts +€1,894
up €1,894 (+49.5%), from €3,826 to €5,720
- Trade debts +€1,353
up €1,353 (+41.4%), from €3,269 to €4,622
- Financial charges -€2,404
down €2,404 (-76.6%), from €3,138 to €733
- Gross operating margin +€2,346
up €2,346 (+11.5%), from €20,363 to €22,709
- Taxes +€1,083
up €1,083 (+32.3%), from €3,357 to €4,440
- Financial income -€956
down €956 (-56.4%), from €1,695 to €739
- Other operating charges -€910
down €910 (-41.3%), from €2,206 to €1,296
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 | €98,761 | €117,509 | +€18,748 | +19.0% |
| Fixed assets | 21/28 | €1,478 | - | -€1,478 | |
| Tangible fixed assets | 22/27 | €1,478 | - | -€1,478 | |
| Furniture and vehicles | 24 | €1,478 | - | -€1,478 | |
| Current assets | 29/58 | €97,283 | €117,509 | +€20,226 | +20.8% |
| Stocks and contracts in progress | 3 | €59,900 | €54,161 | -€5,739 | -9.6% |
| Stocks | 30/36 | €59,900 | €54,161 | -€5,739 | -9.6% |
| Amounts receivable within one year | 40/41 | €13,838 | €14,880 | +€1,042 | +7.5% |
| Trade receivables | 40 | €2,215 | €5,147 | +€2,932 | +132% |
| Other amounts receivable | 41 | €11,623 | €9,732 | -€1,890 | -16.3% |
| Cash at bank and in hand | 54/58 | €23,545 | €48,469 | +€24,923 | +106% |
| Total equity and liabilities | 10/49 | €98,761 | €117,509 | +€18,748 | +19.0% |
| Equity | 10/15 | €91,666 | €107,167 | +€15,501 | +16.9% |
| Contributions | 10/11 | €16,200 | €16,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,606 | €89,107 | +€15,501 | +21.1% |
| Amounts payable | 17/49 | €7,095 | €10,342 | +€3,247 | +45.8% |
| Amounts payable within one year | 42/48 | €7,095 | €10,342 | +€3,247 | +45.8% |
| Trade debts | 44 | €3,269 | €4,622 | +€1,353 | +41.4% |
| Suppliers | 440/4 | €3,269 | €4,622 | +€1,353 | +41.4% |
| Taxes, remuneration and social security | 45 | €3,826 | €5,720 | +€1,894 | +49.5% |
| Taxes | 450/3 | €3,826 | €5,720 | +€1,894 | +49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,729 | €1,478 | -€251 | -14.5% |
| Other operating charges | 640/8 | €2,206 | €1,296 | -€910 | -41.3% |
| Gross operating margin | 9900 | €20,363 | €22,709 | +€2,346 | +11.5% |
| Operating profit (loss) | 9901 | €16,428 | €19,935 | +€3,508 | +21.4% |
| Financial income | 75/76B | €1,695 | €739 | -€956 | -56.4% |
| Recurring financial income | 75 | €1,695 | €739 | -€956 | -56.4% |
| Financial charges | 65/66B | €3,138 | €733 | -€2,404 | -76.6% |
| Recurring financial charges | 65 | €3,138 | €733 | -€2,404 | -76.6% |
| Profit (loss) for the period before taxes | 9903 | €14,985 | €19,941 | +€4,956 | +33.1% |
| Income taxes | 67/77 | €3,357 | €4,440 | +€1,083 | +32.3% |
| Profit (loss) for the period | 9904 | €11,628 | €15,501 | +€3,873 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,628 | €15,501 | +€3,873 | +33.3% |
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 23 October 2026 via checked.be.