RAFITEL: 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.
RAFITEL
Largest movements
- Receivables within one year +€49,326
up €49,326 (+87.6%), from €56,325 to €105,651
of which Trade receivables: +€50,000
- Receivables after one year -€34,637
down €34,637 (-16.1%), from €215,378 to €180,740
- Other debts +€137,426
up €137,426 (+134%), from €102,236 to €239,662
- Reserves -€120,574
down €120,574 (-78.4%), from €153,745 to €33,171
- Gross operating margin +€11,990
up €11,990 (+75.8%), from -€15,810 to -€3,819
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 | €283,974 | €299,204 | +€15,230 | +5.4% |
| Fixed assets | 21/28 | €6,000 | €6,000 | = | 0.0% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €277,974 | €293,204 | +€15,230 | +5.5% |
| Amounts receivable after more than one year | 29 | €215,378 | €180,740 | -€34,637 | -16.1% |
| Other amounts receivable | 291 | €215,378 | €180,740 | -€34,637 | -16.1% |
| Amounts receivable within one year | 40/41 | €56,325 | €105,651 | +€49,326 | +87.6% |
| Trade receivables | 40 | €55,000 | €105,000 | +€50,000 | +90.9% |
| Other amounts receivable | 41 | €1,325 | €651 | -€674 | -50.9% |
| Cash at bank and in hand | 54/58 | €6,270 | €6,813 | +€542 | +8.6% |
| Total equity and liabilities | 10/49 | €283,974 | €299,204 | +€15,230 | +5.4% |
| Equity | 10/15 | €180,044 | €59,470 | -€120,574 | -67.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Revaluation surpluses | 12 | €7,749 | €7,749 | = | 0.0% |
| Reserves | 13 | €153,745 | €33,171 | -€120,574 | -78.4% |
| Distributable reserves | 133 | €153,745 | €33,171 | -€120,574 | -78.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €103,929 | €239,734 | +€135,805 | +131% |
| Amounts payable within one year | 42/48 | €103,929 | €239,734 | +€135,805 | +131% |
| Trade debts | 44 | €1,694 | €72 | -€1,621 | -95.7% |
| Suppliers | 440/4 | €1,694 | €72 | -€1,621 | -95.7% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €102,236 | €239,662 | +€137,426 | +134% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €708 | €720 | +€11 | +1.6% |
| Gross operating margin | 9900 | -€15,810 | -€3,819 | +€11,990 | +75.8% |
| Operating profit (loss) | 9901 | -€16,518 | -€4,539 | +€11,979 | +72.5% |
| Financial income | 75/76B | €2,465 | €2,495 | +€30 | +1.2% |
| Recurring financial income | 75 | €2,465 | €2,495 | +€30 | +1.2% |
| Financial charges | 65/66B | €396 | €390 | -€6 | -1.6% |
| Recurring financial charges | 65 | €396 | €390 | -€6 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | -€14,450 | -€2,434 | +€12,016 | +83.2% |
| Profit (loss) for the period | 9904 | -€14,450 | -€2,434 | +€12,016 | +83.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,450 | -€2,434 | +€12,016 | +83.2% |
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 18 October 2026 via checked.be.