RBF Invest: what changed
What changed
RBF Invest
filed annual accounts (NBB)
Net result for the year
-€33,253
2024 · -€22,473-€10,780
Equity
€1.1m
2024 · €1.2m-€33,253
Cash
€33,372
2024 · €9,846+€23,525
Balance sheet total
€1.5m
2024 · €1.5m-€37,006
Largest movements
Assets
- Intangible fixed assets -€51,356
down €51,356 (-100%), from €51,356 to €0
- Cash +€23,525
up €23,525 (+239%), from €9,846 to €33,372
mainly Depreciation (+€63,631) and Accrued charges and deferred income (+€16,235)
Equity and liabilities
- Profit (loss) carried forward -€33,253
down €33,253 (-26.8%), from -€124,010 to -€157,264
- Debts after one year -€28,791
down €28,791 (-12.9%), from €223,405 to €194,613
- Accrued charges and deferred income +€16,235
up €16,235 (+570%), from €2,850 to €19,085
Income statement
- Provisions +€15,000
up €15,000, from -€15,000 to €0
- Taxes -€4,285
down €4,285 (-34.2%), from €12,517 to €8,231
- Gross operating margin +€2,164
up €2,164 (+4.8%), from €45,411 to €47,575
- Depreciation +€1,751
up €1,751 (+2.8%), from €61,880 to €63,631
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€22,473
Gross operating margin
+€2,164
Depreciation
-€1,751
Provisions
-€15,000
Other operating charges
-€143
Financial charges
-€336
Taxes
+€4,285
Result 2025
-€33,253
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€54,586
Investment
-€3,100
Financing
-€27,961
Cash 2024
€9,846
From operations (derived)
+€54,586
Net result for the year
-€33,253
Depreciation
+€63,631
Trade debts
+€6,435
Tax, wage and social debts
+€1,539
Accrued charges and deferred income
+€16,235
Investment (derived)
-€3,100
Investment in fixed assets (net)
-€3,100
Financing
-€27,961
Debts after one year
-€28,791
Current portion of long-term debt
+€831
Cash 2025
€33,372
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,500,663 | €1,463,658 | -€37,006 | -2.5% |
| Fixed assets | 21/28 | €1,490,817 | €1,430,286 | -€60,531 | -4.1% |
| Intangible fixed assets | 21 | €51,356 | €0 | -€51,356 | -100% |
| Tangible fixed assets | 22/27 | €1,314,273 | €1,305,097 | -€9,175 | -0.7% |
| Land and buildings | 22 | €1,314,273 | €1,305,097 | -€9,175 | -0.7% |
| Financial fixed assets | 28 | €125,189 | €125,189 | = | 0.0% |
| Current assets | 29/58 | €9,846 | €33,372 | +€23,525 | +239% |
| Cash at bank and in hand | 54/58 | €9,846 | €33,372 | +€23,525 | +239% |
| Total equity and liabilities | 10/49 | €1,500,663 | €1,463,658 | -€37,006 | -2.5% |
| Equity | 10/15 | €1,163,699 | €1,130,445 | -€33,253 | -2.9% |
| Contributions | 10/11 | €277,455 | €277,455 | = | 0.0% |
| Capital | 10 | €277,455 | €277,455 | = | 0.0% |
| Issued capital | 100 | €277,455 | €277,455 | = | 0.0% |
| Revaluation surpluses | 12 | €887,425 | €887,425 | = | 0.0% |
| Reserves | 13 | €122,830 | €122,830 | = | 0.0% |
| Non-distributable reserves | 130/1 | €18,344 | €18,344 | = | 0.0% |
| Legal reserve | 130 | €18,344 | €18,344 | = | 0.0% |
| Distributable reserves | 133 | €104,486 | €104,486 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€124,010 | -€157,264 | -€33,253 | -26.8% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Amounts payable | 17/49 | €336,965 | €333,213 | -€3,752 | -1.1% |
| Amounts payable after more than one year | 17 | €223,405 | €194,613 | -€28,791 | -12.9% |
| Financial debts | 170/4 | €223,405 | €194,613 | -€28,791 | -12.9% |
| Amounts payable within one year | 42/48 | €110,710 | €119,514 | +€8,804 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €27,961 | €28,791 | +€831 | +3.0% |
| Trade debts | 44 | €1,210 | €7,644 | +€6,435 | +532% |
| Suppliers | 440/4 | €1,210 | €7,644 | +€6,435 | +532% |
| Taxes, remuneration and social security | 45 | €8,410 | €9,949 | +€1,539 | +18.3% |
| Taxes | 450/3 | €8,410 | €9,949 | +€1,539 | +18.3% |
| Other amounts payable | 47/48 | €73,130 | €73,130 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,850 | €19,085 | +€16,235 | +570% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,880 | €63,631 | +€1,751 | +2.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€15,000 | €0 | +€15,000 | |
| Other operating charges | 640/8 | €2,170 | €2,313 | +€143 | +6.6% |
| Gross operating margin | 9900 | €45,411 | €47,575 | +€2,164 | +4.8% |
| Operating profit (loss) | 9901 | -€3,639 | -€18,369 | -€14,730 | -405% |
| Financial charges | 65/66B | €6,317 | €6,653 | +€336 | +5.3% |
| Recurring financial charges | 65 | €6,317 | €6,653 | +€336 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | -€9,956 | -€25,022 | -€15,066 | -151% |
| Income taxes | 67/77 | €12,517 | €8,231 | -€4,285 | -34.2% |
| Profit (loss) for the period | 9904 | -€22,473 | -€33,253 | -€10,780 | -48.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,473 | -€33,253 | -€10,780 | -48.0% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.