RF DESIGN BELGIUM: 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.
RF DESIGN BELGIUM
Largest movements
- Current investments +€263,083
up €263,083 (+44.7%), from €588,955 to €852,038
- Cash -€254,720
down €254,720 (-69.8%), from €365,075 to €110,355
mainly Current investments (-€263,083) and Contributions, distributions and other (-€180,000)
- Receivables within one year -€55,224
no longer reported in 2025 (was €55,224)
of which Trade receivables: -€54,265
- Contributions -€180,000
down €180,000 (-96.2%), from €187,197 to €7,197
- Reserves +€136,080
up €136,080 (+20.0%), from €679,087 to €815,167
of which Distributable reserves: +€136,080
- Financial income +€26,193
up €26,193 (+1,425%), from €1,838 to €28,031
- Gross operating margin +€20,184
up €20,184 (+11.9%), from €169,430 to €189,614
- Taxes +€19,294
up €19,294 (+40.3%), from €47,902 to €67,196
- Depreciation -€3,777
down €3,777 (-28.1%), from €13,464 to €9,687
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 | €1,035,955 | €978,296 | -€57,659 | -5.6% |
| Fixed assets | 21/28 | €25,291 | €15,604 | -€9,687 | -38.3% |
| Tangible fixed assets | 22/27 | €25,291 | €15,604 | -€9,687 | -38.3% |
| Furniture and vehicles | 24 | €25,291 | €15,604 | -€9,687 | -38.3% |
| Current assets | 29/58 | €1,010,664 | €962,692 | -€47,972 | -4.7% |
| Amounts receivable within one year | 40/41 | €55,224 | - | -€55,224 | |
| Trade receivables | 40 | €54,265 | - | -€54,265 | |
| Other amounts receivable | 41 | €960 | - | -€960 | |
| Current investments | 50/53 | €588,955 | €852,038 | +€263,083 | +44.7% |
| Cash at bank and in hand | 54/58 | €365,075 | €110,355 | -€254,720 | -69.8% |
| Deferred charges and accrued income | 490/1 | €1,411 | €300 | -€1,111 | -78.7% |
| Total equity and liabilities | 10/49 | €1,035,955 | €978,296 | -€57,659 | -5.6% |
| Equity | 10/15 | €866,284 | €822,364 | -€43,920 | -5.1% |
| Contributions | 10/11 | €187,197 | €7,197 | -€180,000 | -96.2% |
| Reserves | 13 | €679,087 | €815,167 | +€136,080 | +20.0% |
| Non-distributable reserves | 130/1 | €4,399 | €4,399 | = | 0.0% |
| Other | 1319 | €4,399 | €4,399 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,377 | €1,377 | = | 0.0% |
| Distributable reserves | 133 | €673,311 | €809,391 | +€136,080 | +20.2% |
| Amounts payable | 17/49 | €169,671 | €155,931 | -€13,739 | -8.1% |
| Amounts payable within one year | 42/48 | €102,238 | €95,416 | -€6,822 | -6.7% |
| Trade debts | 44 | €2,087 | €555 | -€1,532 | -73.4% |
| Suppliers | 440/4 | €2,087 | €555 | -€1,532 | -73.4% |
| Taxes, remuneration and social security | 45 | €42,709 | €47,503 | +€4,794 | +11.2% |
| Taxes | 450/3 | €42,709 | €47,503 | +€4,794 | +11.2% |
| Other amounts payable | 47/48 | €57,442 | €47,358 | -€10,084 | -17.6% |
| Accrued charges and deferred income | 492/3 | €67,433 | €60,515 | -€6,917 | -10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,464 | €9,687 | -€3,777 | -28.1% |
| Other operating charges | 640/8 | €2,018 | €3,784 | +€1,767 | +87.6% |
| Gross operating margin | 9900 | €169,430 | €189,614 | +€20,184 | +11.9% |
| Operating profit (loss) | 9901 | €153,949 | €176,143 | +€22,194 | +14.4% |
| Financial income | 75/76B | €1,838 | €28,031 | +€26,193 | +1,425% |
| Recurring financial income | 75 | €1,838 | €28,031 | +€26,193 | +1,425% |
| Financial charges | 65/66B | €1,005 | €897 | -€109 | -10.8% |
| Recurring financial charges | 65 | €1,005 | €897 | -€109 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €154,781 | €203,277 | +€48,495 | +31.3% |
| Income taxes | 67/77 | €47,902 | €67,196 | +€19,294 | +40.3% |
| Profit (loss) for the period | 9904 | €106,879 | €136,080 | +€29,201 | +27.3% |
| Profit (loss) for the period to be appropriated | 9905 | €106,879 | €136,080 | +€29,201 | +27.3% |
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 1 November 2026 via checked.be.