RCF: 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.
RCF
Largest movements
- Receivables within one year -€2,431
down €2,431 (-93.5%), from €2,600 to €168
of which Trade receivables: -€2,600
- Cash -€1,456
down €1,456 (-96.4%), from €1,510 to €54
mainly Debts after one year (-€9,159) and Tax, wage and social debts (-€1,109)
- Tangible fixed assets -€430
down €430 (-48.6%), from €885 to €455
- Deferred charges and accrued income -€270
down €270 (-63.2%), from €428 to €157
- Debts after one year -€9,159
down €9,159 (-76.9%), from €11,915 to €2,755
- Profit (loss) carried forward +€3,534
up €3,534 (+12.6%), from -€28,043 to -€24,509
- Short-term financial debts +€3,525
up €3,525, from €0 to €3,525
- Tax, wage and social debts -€1,109
down €1,109 (-100.0%), from €1,109 to €0
- Other debts -€693
down €693 (-100.0%), from €693 to €0
- Gross operating margin -€9,169
down €9,169 (-64.3%), from €14,250 to €5,082
- Other operating charges -€176
down €176 (-25.1%), from €703 to €527
- Depreciation +€172
up €172 (+66.7%), from €258 to €430
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 | €5,482 | €895 | -€4,587 | -83.7% |
| Fixed assets | 21/28 | €945 | €515 | -€430 | -45.5% |
| Tangible fixed assets | 22/27 | €885 | €455 | -€430 | -48.6% |
| Furniture and vehicles | 24 | €885 | €455 | -€430 | -48.6% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €4,537 | €380 | -€4,157 | -91.6% |
| Amounts receivable within one year | 40/41 | €2,600 | €168 | -€2,431 | -93.5% |
| Trade receivables | 40 | €2,600 | €0 | -€2,600 | -100.0% |
| Other amounts receivable | 41 | - | €168 | +€168 | |
| Cash at bank and in hand | 54/58 | €1,510 | €54 | -€1,456 | -96.4% |
| Deferred charges and accrued income | 490/1 | €428 | €157 | -€270 | -63.2% |
| Total equity and liabilities | 10/49 | €5,482 | €895 | -€4,587 | -83.7% |
| Equity | 10/15 | -€9,443 | -€5,909 | +€3,534 | +37.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,043 | -€24,509 | +€3,534 | +12.6% |
| Amounts payable | 17/49 | €14,925 | €6,804 | -€8,120 | -54.4% |
| Amounts payable after more than one year | 17 | €11,915 | €2,755 | -€9,159 | -76.9% |
| Other amounts payable | 178/9 | €11,915 | €2,755 | -€9,159 | -76.9% |
| Amounts payable within one year | 42/48 | €2,838 | €4,049 | +€1,211 | +42.7% |
| Financial debts | 43 | €0 | €3,525 | +€3,525 | |
| Credit institutions | 430/8 | €0 | €3,525 | +€3,525 | |
| Trade debts | 44 | €1,036 | €524 | -€512 | -49.4% |
| Suppliers | 440/4 | €1,036 | €524 | -€512 | -49.4% |
| Taxes, remuneration and social security | 45 | €1,109 | €0 | -€1,109 | -100.0% |
| Taxes | 450/3 | €1,109 | €0 | -€1,109 | -100.0% |
| Other amounts payable | 47/48 | €693 | €0 | -€693 | -100.0% |
| Accrued charges and deferred income | 492/3 | €173 | €0 | -€173 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €258 | €430 | +€172 | +66.7% |
| Other operating charges | 640/8 | €703 | €527 | -€176 | -25.1% |
| Gross operating margin | 9900 | €14,250 | €5,082 | -€9,169 | -64.3% |
| Operating profit (loss) | 9901 | €13,289 | €4,125 | -€9,164 | -69.0% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €656 | €591 | -€65 | -9.9% |
| Recurring financial charges | 65 | €656 | €591 | -€65 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €12,633 | €3,534 | -€9,100 | -72.0% |
| Profit (loss) for the period | 9904 | €12,633 | €3,534 | -€9,100 | -72.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,633 | €3,534 | -€9,100 | -72.0% |
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.