RETRIFA: what changed
Two financial 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.
RETRIFA
Largest movements
- Tangible fixed assets -€106,724
down €106,724 (-26.0%), from €410,809 to €304,084
of which Land and buildings: -€65,657
- Cash +€104,736
up €104,736 (+24.5%), from €427,763 to €532,499
mainly Depreciation (+€117,561) and Net result for the year (+€39,545)
- Deferred charges and accrued income +€10,849
up €10,849 (+83.3%), from €13,024 to €23,873
- Debts after one year -€86,196
down €86,196 (-85.6%), from €100,681 to €14,485
- Reserves +€39,545
up €39,545 (+22.7%), from €174,027 to €213,572
- Tax, wage and social debts +€34,586
up €34,586 (+39.2%), from €88,124 to €122,710
of which Taxes: +€24,790
- Other debts +€18,107
up €18,107 (+21.6%), from €83,993 to €102,100
- Gross operating margin -€66,379
down €66,379 (-6.1%), from €1.1m to €1.0m
- Depreciation -€30,729
down €30,729 (-20.7%), from €148,290 to €117,561
- Staff costs +€21,839
up €21,839 (+2.8%), from €777,112 to €798,951
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.
Derived cash bridge
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 | €873,015 | €894,468 | +€21,453 | +2.5% |
| Fixed assets | 21/28 | €411,141 | €304,417 | -€106,724 | -26.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €410,809 | €304,084 | -€106,724 | -26.0% |
| Land and buildings | 22 | €260,508 | €194,851 | -€65,657 | -25.2% |
| Plant, machinery and equipment | 23 | €131,758 | €94,755 | -€37,003 | -28.1% |
| Furniture and vehicles | 24 | €14,739 | €11,361 | -€3,378 | -22.9% |
| Other tangible fixed assets | 26 | €3,804 | €3,118 | -€686 | -18.0% |
| Financial fixed assets | 28 | €333 | €333 | = | 0.0% |
| Current assets | 29/58 | €461,874 | €590,051 | +€128,177 | +27.8% |
| Stocks and contracts in progress | 3 | €10,194 | €17,467 | +€7,273 | +71.3% |
| Stocks | 30/36 | €10,194 | €17,467 | +€7,273 | +71.3% |
| Amounts receivable within one year | 40/41 | €10,893 | €16,211 | +€5,319 | +48.8% |
| Trade receivables | 40 | €419 | €10,530 | +€10,111 | +2,415% |
| Other amounts receivable | 41 | €10,474 | €5,681 | -€4,793 | -45.8% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €427,763 | €532,499 | +€104,736 | +24.5% |
| Deferred charges and accrued income | 490/1 | €13,024 | €23,873 | +€10,849 | +83.3% |
| Total equity and liabilities | 10/49 | €873,015 | €894,468 | +€21,453 | +2.5% |
| Equity | 10/15 | €205,027 | €244,572 | +€39,545 | +19.3% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €174,027 | €213,572 | +€39,545 | +22.7% |
| Distributable reserves | 133 | €174,027 | €213,572 | +€39,545 | +22.7% |
| Amounts payable | 17/49 | €667,988 | €649,896 | -€18,092 | -2.7% |
| Amounts payable after more than one year | 17 | €100,681 | €14,485 | -€86,196 | -85.6% |
| Financial debts | 170/4 | €100,681 | €14,485 | -€86,196 | -85.6% |
| Amounts payable within one year | 42/48 | €517,790 | €579,048 | +€61,258 | +11.8% |
| Current portion of amounts payable after more than one year | 42 | €88,372 | €89,574 | +€1,202 | +1.4% |
| Trade debts | 44 | €257,301 | €264,664 | +€7,363 | +2.9% |
| Suppliers | 440/4 | €257,301 | €264,664 | +€7,363 | +2.9% |
| Taxes, remuneration and social security | 45 | €88,124 | €122,710 | +€34,586 | +39.2% |
| Taxes | 450/3 | €8,972 | €33,762 | +€24,790 | +276% |
| Remuneration and social security | 454/9 | €79,152 | €88,949 | +€9,796 | +12.4% |
| Other amounts payable | 47/48 | €83,993 | €102,100 | +€18,107 | +21.6% |
| Accrued charges and deferred income | 492/3 | €49,517 | €56,363 | +€6,846 | +13.8% |
| Remuneration, social security and pensions | 62 | €777,112 | €798,951 | +€21,839 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €148,290 | €117,561 | -€30,729 | -20.7% |
| Other operating charges | 640/8 | €27,035 | €27,679 | +€644 | +2.4% |
| Gross operating margin | 9900 | €1,085,557 | €1,019,178 | -€66,379 | -6.1% |
| Operating profit (loss) | 9901 | €133,119 | €74,986 | -€58,132 | -43.7% |
| Financial income | 75/76B | €1,959 | €55 | -€1,904 | -97.2% |
| Recurring financial income | 75 | €1,959 | €55 | -€1,904 | -97.2% |
| Financial charges | 65/66B | €15,770 | €16,131 | +€362 | +2.3% |
| Recurring financial charges | 65 | €15,770 | €16,131 | +€362 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €119,308 | €58,910 | -€60,398 | -50.6% |
| Income taxes | 67/77 | €8,972 | €19,366 | +€10,394 | +116% |
| Profit (loss) for the period | 9904 | €110,337 | €39,545 | -€70,792 | -64.2% |
| Profit (loss) for the period to be appropriated | 9905 | €110,337 | €39,545 | -€70,792 | -64.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.