RAFP: 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.
RAFP
Largest movements
- Intangible fixed assets +€182,004
up €182,004 (+379.2%), from €47,996 to €230,000
- Receivables within one year +€15,441
up €15,441 (+33.1%), from €46,660 to €62,101
of which Trade receivables: +€8,186
- Cash -€10,587
down €10,587 (-59.8%), from €17,696 to €7,110
mainly Investment in fixed assets (net) (-€187,312) and Trade debts (-€24,162)
- Tangible fixed assets +€4,707
new in 2025: €4,707
of which Other tangible fixed assets: +€3,471
- Other debts +€95,500
up €95,500 (+136.4%), from €70,000 to €165,500
- Profit (loss) carried forward +€74,167
up €74,167 (+1229.7%), from €6,031 to €80,199
- Debts after one year +€28,000
new in 2025: €28,000
- Trade debts -€24,162
no longer reported in 2025 (was €24,162)
- Tax, wage and social debts +€11,727
up €11,727 (+115.5%), from €10,158 to €21,885
of which Remuneration and social security: +€8,643
- Gross operating margin +€185,467
up €185,467 (+2707.9%), from €6,849 to €192,316
- Staff costs +€96,625
new in 2025: €96,625
- Taxes +€18,542
new in 2025: €18,542
- Other operating charges +€2,594
up €2,594 (+669.7%), from €387 to €2,981
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 | €112,352 | €304,518 | +€192,166 | +171.0% |
| Fixed assets | 21/28 | €47,996 | €235,307 | +€187,312 | +390.3% |
| Intangible fixed assets | 21 | €47,996 | €230,000 | +€182,004 | +379.2% |
| Tangible fixed assets | 22/27 | - | €4,707 | +€4,707 | |
| Furniture and vehicles | 24 | - | €1,236 | +€1,236 | |
| Other tangible fixed assets | 26 | - | €3,471 | +€3,471 | |
| Financial fixed assets | 28 | - | €600 | +€600 | |
| Current assets | 29/58 | €64,356 | €69,211 | +€4,854 | +7.5% |
| Amounts receivable within one year | 40/41 | €46,660 | €62,101 | +€15,441 | +33.1% |
| Trade receivables | 40 | €46,660 | €54,846 | +€8,186 | +17.5% |
| Other amounts receivable | 41 | - | €7,255 | +€7,255 | |
| Cash at bank and in hand | 54/58 | €17,696 | €7,110 | -€10,587 | -59.8% |
| Total equity and liabilities | 10/49 | €112,352 | €304,518 | +€192,166 | +171.0% |
| Equity | 10/15 | €8,031 | €82,199 | +€74,167 | +923.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,031 | €80,199 | +€74,167 | +1229.7% |
| Amounts payable | 17/49 | €104,320 | €222,319 | +€117,999 | +113.1% |
| Amounts payable after more than one year | 17 | - | €28,000 | +€28,000 | |
| Financial debts | 170/4 | - | €28,000 | +€28,000 | |
| Amounts payable within one year | 42/48 | €104,320 | €194,319 | +€89,999 | +86.3% |
| Current portion of amounts payable after more than one year | 42 | - | €6,934 | +€6,934 | |
| Trade debts | 44 | €24,162 | - | -€24,162 | |
| Suppliers | 440/4 | €24,162 | - | -€24,162 | |
| Taxes, remuneration and social security | 45 | €10,158 | €21,885 | +€11,727 | +115.5% |
| Taxes | 450/3 | €10,158 | €13,243 | +€3,085 | +30.4% |
| Remuneration and social security | 454/9 | - | €8,643 | +€8,643 | |
| Other amounts payable | 47/48 | €70,000 | €165,500 | +€95,500 | +136.4% |
| Remuneration, social security and pensions | 62 | - | €96,625 | +€96,625 | |
| Other operating charges | 640/8 | €387 | €2,981 | +€2,594 | +669.7% |
| Gross operating margin | 9900 | €6,849 | €192,316 | +€185,467 | +2707.9% |
| Operating profit (loss) | 9901 | €6,462 | €92,710 | +€86,248 | +1334.7% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €432 | - | -€432 | |
| Recurring financial charges | 65 | €432 | - | -€432 | |
| Profit (loss) for the period before taxes | 9903 | €6,031 | €92,710 | +€86,678 | +1437.2% |
| Income taxes | 67/77 | - | €18,542 | +€18,542 | |
| Profit (loss) for the period | 9904 | €6,031 | €74,168 | +€68,137 | +1129.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,031 | €74,168 | +€68,137 | +1129.7% |
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 5 October 2026 via checked.be.