RAFIX: 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.
RAFIX
Largest movements
- Tangible fixed assets -€8,425
down €8,425 (-83.2%), from €10,131 to €1,706
of which Leasing and similar rights: -€8,783
- Receivables within one year -€5,045
down €5,045 (-18.5%), from €27,216 to €22,171
of which Other amounts receivable: -€3,708
- Cash -€1,948
no longer reported in 2025 (was €1,948)
mainly Trade debts (-€15,538) and Other debts (-€8,010)
- Deferred charges and accrued income -€1,926
down €1,926 (-21.2%), from €9,103 to €7,176
- Stocks and contracts -€1,500
no longer reported in 2025 (was €1,500)
- Trade debts -€15,538
down €15,538 (-75.6%), from €20,558 to €5,020
- Other debts -€8,010
no longer reported in 2025 (was €8,010)
- Short-term financial debts +€6,399
new in 2025: €6,399
- Debts after one year -€4,449
no longer reported in 2025 (was €4,449)
- Tax, wage and social debts +€2,798
up €2,798 (+68.4%), from €4,093 to €6,892
of which Remuneration and social security: +€1,900
- Gross operating margin -€6,612
down €6,612 (-50.3%), from €13,135 to €6,523
- Depreciation -€5,367
down €5,367 (-80.3%), from €6,683 to €1,316
- Other operating charges +€843
up €843 (+116.7%), from €722 to €1,565
- Financial income +€338
up €338 (+1266.3%), from €27 to €365
- Financial charges +€245
up €245 (+9.8%), from €2,508 to €2,753
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 | €49,897 | €31,054 | -€18,843 | -37.8% |
| Fixed assets | 21/28 | €10,131 | €1,706 | -€8,425 | -83.2% |
| Tangible fixed assets | 22/27 | €10,131 | €1,706 | -€8,425 | -83.2% |
| Plant, machinery and equipment | 23 | €1,348 | €1,706 | +€359 | +26.6% |
| Leasing and similar rights | 25 | €8,783 | - | -€8,783 | |
| Current assets | 29/58 | €39,766 | €29,347 | -€10,419 | -26.2% |
| Stocks and contracts in progress | 3 | €1,500 | - | -€1,500 | |
| Stocks | 30/36 | €1,500 | - | -€1,500 | |
| Amounts receivable within one year | 40/41 | €27,216 | €22,171 | -€5,045 | -18.5% |
| Trade receivables | 40 | €23,039 | €21,702 | -€1,337 | -5.8% |
| Other amounts receivable | 41 | €4,176 | €469 | -€3,708 | -88.8% |
| Cash at bank and in hand | 54/58 | €1,948 | - | -€1,948 | |
| Deferred charges and accrued income | 490/1 | €9,103 | €7,176 | -€1,926 | -21.2% |
| Total equity and liabilities | 10/49 | €49,897 | €31,054 | -€18,843 | -37.8% |
| Equity | 10/15 | €7,718 | €8,293 | +€575 | +7.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €6,218 | €6,793 | +€575 | +9.2% |
| Distributable reserves | 133 | €6,218 | €6,793 | +€575 | +9.2% |
| Amounts payable | 17/49 | €42,179 | €22,760 | -€19,419 | -46.0% |
| Amounts payable after more than one year | 17 | €4,449 | - | -€4,449 | |
| Financial debts | 170/4 | €4,449 | - | -€4,449 | |
| Amounts payable within one year | 42/48 | €37,730 | €22,760 | -€14,969 | -39.7% |
| Current portion of amounts payable after more than one year | 42 | €5,068 | €4,449 | -€618 | -12.2% |
| Financial debts | 43 | - | €6,399 | +€6,399 | |
| Credit institutions | 430/8 | - | €6,399 | +€6,399 | |
| Trade debts | 44 | €20,558 | €5,020 | -€15,538 | -75.6% |
| Suppliers | 440/4 | €20,558 | €5,020 | -€15,538 | -75.6% |
| Taxes, remuneration and social security | 45 | €4,093 | €6,892 | +€2,798 | +68.4% |
| Taxes | 450/3 | €2,193 | €3,092 | +€898 | +41.0% |
| Remuneration and social security | 454/9 | €1,900 | €3,800 | +€1,900 | +100.0% |
| Other amounts payable | 47/48 | €8,010 | - | -€8,010 | |
| Non-recurring operating income | 76A | - | €1,369 | +€1,369 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,683 | €1,316 | -€5,367 | -80.3% |
| Other operating charges | 640/8 | €722 | €1,565 | +€843 | +116.7% |
| Gross operating margin | 9900 | €13,135 | €6,523 | -€6,612 | -50.3% |
| Operating profit (loss) | 9901 | €5,729 | €3,642 | -€2,088 | -36.4% |
| Financial income | 75/76B | €27 | €365 | +€338 | +1266.3% |
| Recurring financial income | 75 | €27 | €365 | +€338 | +1266.3% |
| Financial charges | 65/66B | €2,508 | €2,753 | +€245 | +9.8% |
| Recurring financial charges | 65 | €2,508 | €2,753 | +€245 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | €3,249 | €1,254 | -€1,995 | -61.4% |
| Income taxes | 67/77 | €852 | €679 | -€173 | -20.3% |
| Profit (loss) for the period | 9904 | €2,397 | €575 | -€1,822 | -76.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,397 | €575 | -€1,822 | -76.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.