RALF: 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.
RALF
Largest movements
- Receivables within one year +€103,416
up €103,416 (+15.6%), from €663,084 to €766,500
- Cash -€33,489
down €33,489 (-15.3%), from €219,035 to €185,546
mainly Contributions, distributions and other (-€773,000) and Receivables within one year (-€103,416)
- Receivables after one year -€16,500
no longer reported in 2025 (was €16,500)
- Other debts +€606,294
up €606,294 (+782315.0%), from €78 to €606,372
- Reserves -€439,500
down €439,500 (-40.9%), from €1.1m to €634,299
- Debts after one year -€83,181
down €83,181 (-30.3%), from €274,309 to €191,128
of which Financial debts: -€43,181
- Tax, wage and social debts -€28,675
down €28,675 (-18.1%), from €158,294 to €129,619
- Gross operating margin +€98,087
up €98,087 (+27.9%), from €351,270 to €449,357
- Taxes +€26,546
up €26,546 (+33.0%), from €80,390 to €106,936
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 | €1,561,109 | €1,615,446 | +€54,337 | +3.5% |
| Fixed assets | 21/28 | €622,490 | €622,490 | = | 0.0% |
| Financial fixed assets | 28 | €622,490 | €622,490 | = | 0.0% |
| Current assets | 29/58 | €938,619 | €992,956 | +€54,337 | +5.8% |
| Amounts receivable after more than one year | 29 | €16,500 | - | -€16,500 | |
| Trade receivables | 290 | €16,500 | - | -€16,500 | |
| Amounts receivable within one year | 40/41 | €663,084 | €766,500 | +€103,416 | +15.6% |
| Other amounts receivable | 41 | €663,084 | €766,500 | +€103,416 | +15.6% |
| Current investments | 50/53 | €40,000 | €40,909 | +€909 | +2.3% |
| Cash at bank and in hand | 54/58 | €219,035 | €185,546 | -€33,489 | -15.3% |
| Total equity and liabilities | 10/49 | €1,561,109 | €1,615,446 | +€54,337 | +3.5% |
| Equity | 10/15 | €1,077,114 | €637,352 | -€439,762 | -40.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €1,073,799 | €634,299 | -€439,500 | -40.9% |
| Distributable reserves | 133 | €1,073,799 | €634,299 | -€439,500 | -40.9% |
| Profit (loss) carried forward | 14 | €315 | €53 | -€262 | -83.1% |
| Amounts payable | 17/49 | €483,995 | €978,093 | +€494,098 | +102.1% |
| Amounts payable after more than one year | 17 | €274,309 | €191,128 | -€83,181 | -30.3% |
| Financial debts | 170/4 | €134,309 | €91,128 | -€43,181 | -32.2% |
| Other amounts payable | 178/9 | €140,000 | €100,000 | -€40,000 | -28.6% |
| Amounts payable within one year | 42/48 | €201,683 | €779,885 | +€578,203 | +286.7% |
| Current portion of amounts payable after more than one year | 42 | €42,821 | €43,181 | +€360 | +0.8% |
| Trade debts | 44 | €490 | €714 | +€224 | +45.7% |
| Suppliers | 440/4 | €490 | €714 | +€224 | +45.7% |
| Taxes, remuneration and social security | 45 | €158,294 | €129,619 | -€28,675 | -18.1% |
| Taxes | 450/3 | €158,294 | €129,619 | -€28,675 | -18.1% |
| Other amounts payable | 47/48 | €78 | €606,372 | +€606,294 | +782315.0% |
| Accrued charges and deferred income | 492/3 | €8,003 | €7,080 | -€923 | -11.5% |
| Other operating charges | 640/8 | €653 | €1,393 | +€740 | +113.3% |
| Gross operating margin | 9900 | €351,270 | €449,357 | +€98,087 | +27.9% |
| Operating profit (loss) | 9901 | €350,617 | €447,964 | +€97,347 | +27.8% |
| Financial income | 75/76B | €426 | €1,299 | +€873 | +205.2% |
| Recurring financial income | 75 | €426 | €1,299 | +€873 | +205.2% |
| Financial charges | 65/66B | €10,338 | €9,089 | -€1,248 | -12.1% |
| Recurring financial charges | 65 | €10,338 | €9,089 | -€1,248 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €340,705 | €440,174 | +€99,469 | +29.2% |
| Income taxes | 67/77 | €80,390 | €106,936 | +€26,546 | +33.0% |
| Profit (loss) for the period | 9904 | €260,315 | €333,238 | +€72,923 | +28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €260,315 | €333,238 | +€72,923 | +28.0% |
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 28 September 2026 via checked.be.