Rafioli: what changed
Two fiscal 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.
Rafioli
Largest movements
- Cash +€16,007
up €16,007 (+148.5%), from €10,779 to €26,785
mainly Net result for the year (+€162,573) and Receivables within one year (+€15,125)
- Receivables within one year -€15,125
down €15,125 (-50.2%), from €30,125 to €15,000
of which Trade receivables: -€15,125
- Tangible fixed assets -€987
down €987 (-35.9%), from €2,749 to €1,762
- Deferred charges and accrued income +€526
up €526, from €0 to €526
- Profit (loss) carried forward +€162,573
up €162,573 (+68.4%), from -€237,579 to -€75,006
- Other debts -€157,200
down €157,200 (-73.1%), from €215,117 to €57,917
- Tax, wage and social debts -€3,924
down €3,924 (-54.5%), from €7,201 to €3,276
- Trade debts -€1,028
down €1,028 (-43.1%), from €2,387 to €1,359
- Gross operating margin +€222,306
up €222,306, from -€57,701 to €164,605
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 | €43,653 | €44,074 | +€420 | +1.0% |
| Fixed assets | 21/28 | €2,749 | €1,762 | -€987 | -35.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €2,749 | €1,762 | -€987 | -35.9% |
| Plant, machinery and equipment | 23 | €2,749 | €1,762 | -€987 | -35.9% |
| Current assets | 29/58 | €40,904 | €42,311 | +€1,407 | +3.4% |
| Amounts receivable within one year | 40/41 | €30,125 | €15,000 | -€15,125 | -50.2% |
| Trade receivables | 40 | €15,125 | €0 | -€15,125 | -100.0% |
| Other amounts receivable | 41 | €15,000 | €15,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,779 | €26,785 | +€16,007 | +148.5% |
| Deferred charges and accrued income | 490/1 | €0 | €526 | +€526 | |
| Total equity and liabilities | 10/49 | €43,653 | €44,074 | +€420 | +1.0% |
| Equity | 10/15 | -€181,052 | -€18,480 | +€162,573 | +89.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €6,527 | €6,527 | = | 0.0% |
| Distributable reserves | 133 | €6,527 | €6,527 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€237,579 | -€75,006 | +€162,573 | +68.4% |
| Amounts payable | 17/49 | €224,705 | €62,553 | -€162,152 | -72.2% |
| Amounts payable within one year | 42/48 | €224,705 | €62,553 | -€162,152 | -72.2% |
| Trade debts | 44 | €2,387 | €1,359 | -€1,028 | -43.1% |
| Suppliers | 440/4 | €2,387 | €1,359 | -€1,028 | -43.1% |
| Taxes, remuneration and social security | 45 | €7,201 | €3,276 | -€3,924 | -54.5% |
| Taxes | 450/3 | €7,201 | €3,276 | -€3,924 | -54.5% |
| Other amounts payable | 47/48 | €215,117 | €57,917 | -€157,200 | -73.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €212 | €987 | +€775 | +365.9% |
| Other operating charges | 640/8 | €525 | €944 | +€419 | +79.8% |
| Non-recurring operating charges | 66A | €1,962 | €0 | -€1,962 | -100.0% |
| Gross operating margin | 9900 | -€57,701 | €164,605 | +€222,306 | |
| Operating profit (loss) | 9901 | -€60,400 | €162,674 | +€223,074 | |
| Financial income | 75/76B | €1,025 | €0 | -€1,025 | -100.0% |
| Recurring financial income | 75 | €1,025 | €0 | -€1,025 | -100.0% |
| Financial charges | 65/66B | €633 | €0 | -€633 | -100.0% |
| Recurring financial charges | 65 | €633 | €0 | -€633 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€60,008 | €162,674 | +€222,682 | |
| Income taxes | 67/77 | - | €101 | +€101 | |
| Profit (loss) for the period | 9904 | -€60,008 | €162,573 | +€222,581 | |
| Profit (loss) for the period to be appropriated | 9905 | -€60,008 | €162,573 | +€222,581 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.