Rafi Bouw: what changed
Rafi Bouw
Largest movements
- Receivables within one year +€18,482
up €18,482 (+457%), from €4,045 to €22,527
of which Other amounts receivable: +€13,544
- Tangible fixed assets +€1,292
new in 2026: €1,292
- Cash +€949
up €949 (+17.2%), from €5,507 to €6,456
mainly Net result for the year (+€14,009) and Tax, wage and social debts (+€3,040)
- Reserves +€14,009
up €14,009 (+455%), from €3,076 to €17,085
- Tax, wage and social debts +€3,040
up €3,040 (+192%), from €1,584 to €4,625
- Trade debts +€2,691
up €2,691 (+180%), from €1,493 to €4,184
- Accrued charges and deferred income +€2,327
up €2,327 (+4,305%), from €54 to €2,381
- Other debts -€1,344
down €1,344 (-100%), from €1,344 to €0
- Gross operating margin +€13,827
up €13,827 (+260%), from €5,322 to €19,149
- Taxes +€3,364
up €3,364 (+236%), from €1,425 to €4,789
- Depreciation +€646
new in 2026: €646
- Financial income +€625
up €625 (+2,795%), from €22 to €648
- Other operating charges -€472
down €472 (-60.7%), from €777 to €306
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,552 | €30,275 | +€20,723 | +217% |
| Fixed assets | 21/28 | - | €1,292 | +€1,292 | |
| Tangible fixed assets | 22/27 | - | €1,292 | +€1,292 | |
| Furniture and vehicles | 24 | - | €1,292 | +€1,292 | |
| Current assets | 29/58 | €9,552 | €28,983 | +€19,431 | +203% |
| Amounts receivable within one year | 40/41 | €4,045 | €22,527 | +€18,482 | +457% |
| Trade receivables | 40 | €3,656 | €8,594 | +€4,938 | +135% |
| Other amounts receivable | 41 | €389 | €13,933 | +€13,544 | +3,483% |
| Cash at bank and in hand | 54/58 | €5,507 | €6,456 | +€949 | +17.2% |
| Total equity and liabilities | 10/49 | €9,552 | €30,275 | +€20,723 | +217% |
| Equity | 10/15 | €5,076 | €19,085 | +€14,009 | +276% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €3,076 | €17,085 | +€14,009 | +455% |
| Distributable reserves | 133 | €3,076 | €17,085 | +€14,009 | +455% |
| Amounts payable | 17/49 | €4,476 | €11,190 | +€6,714 | +150% |
| Amounts payable within one year | 42/48 | €4,422 | €8,809 | +€4,387 | +99.2% |
| Trade debts | 44 | €1,493 | €4,184 | +€2,691 | +180% |
| Suppliers | 440/4 | €1,493 | €4,184 | +€2,691 | +180% |
| Taxes, remuneration and social security | 45 | €1,584 | €4,625 | +€3,040 | +192% |
| Taxes | 450/3 | €1,584 | €4,625 | +€3,040 | +192% |
| Other amounts payable | 47/48 | €1,344 | €0 | -€1,344 | -100% |
| Accrued charges and deferred income | 492/3 | €54 | €2,381 | +€2,327 | +4,305% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €646 | +€646 | |
| Other operating charges | 640/8 | €777 | €306 | -€472 | -60.7% |
| Gross operating margin | 9900 | €5,322 | €19,149 | +€13,827 | +260% |
| Operating profit (loss) | 9901 | €4,544 | €18,198 | +€13,653 | +300% |
| Financial income | 75/76B | €22 | €648 | +€625 | +2,795% |
| Recurring financial income | 75 | €22 | €648 | +€625 | +2,795% |
| Financial charges | 65/66B | €66 | €47 | -€18 | -27.9% |
| Recurring financial charges | 65 | €66 | €47 | -€18 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €4,501 | €18,798 | +€14,297 | +318% |
| Income taxes | 67/77 | €1,425 | €4,789 | +€3,364 | +236% |
| Profit (loss) for the period | 9904 | €3,076 | €14,009 | +€10,933 | +355% |
| Profit (loss) for the period to be appropriated | 9905 | €3,076 | €14,009 | +€10,933 | +355% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.