RF-invest: 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-invest
Largest movements
- Receivables within one year -€8,330
down €8,330 (-53.1%), from €15,676 to €7,346
- Cash -€1,636
down €1,636 (-56.7%), from €2,887 to €1,251
mainly Other debts (-€23,620) and Deferred charges and accrued income (-€50)
- Tangible fixed assets -€1,487
down €1,487 (-7.5%), from €19,816 to €18,328
- Other debts -€23,620
down €23,620 (-49.8%), from €47,434 to €23,813
- Accrued charges and deferred income +€5,812
up €5,812 (+512%), from €1,135 to €6,947
- Trade debts +€3,532
up €3,532 (+38.5%), from €9,176 to €12,708
- Profit (loss) carried forward +€2,252
up €2,252 (+2.8%), from -€79,991 to -€77,740
- Tax, wage and social debts +€621
new in 2025: €621
- Gross operating margin -€7,731
down €7,731 (-32.1%), from €24,084 to €16,353
- Financial charges -€6,176
down €6,176 (-51.3%), from €12,031 to €5,855
of which Non-recurring financial charges: -€11,972
- Taxes +€1,698
new in 2025: €1,698
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 | €39,753 | €28,350 | -€11,403 | -28.7% |
| Fixed assets | 21/28 | €19,816 | €18,328 | -€1,487 | -7.5% |
| Tangible fixed assets | 22/27 | €19,816 | €18,328 | -€1,487 | -7.5% |
| Land and buildings | 22 | €19,816 | €18,328 | -€1,487 | -7.5% |
| Current assets | 29/58 | €19,938 | €10,022 | -€9,916 | -49.7% |
| Amounts receivable within one year | 40/41 | €15,676 | €7,346 | -€8,330 | -53.1% |
| Other amounts receivable | 41 | €15,676 | €7,346 | -€8,330 | -53.1% |
| Cash at bank and in hand | 54/58 | €2,887 | €1,251 | -€1,636 | -56.7% |
| Deferred charges and accrued income | 490/1 | €1,375 | €1,424 | +€50 | +3.6% |
| Total equity and liabilities | 10/49 | €39,753 | €28,350 | -€11,403 | -28.7% |
| Equity | 10/15 | -€17,991 | -€15,740 | +€2,252 | +12.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,991 | -€77,740 | +€2,252 | +2.8% |
| Amounts payable | 17/49 | €57,744 | €44,089 | -€13,655 | -23.6% |
| Amounts payable within one year | 42/48 | €56,609 | €37,142 | -€19,467 | -34.4% |
| Trade debts | 44 | €9,176 | €12,708 | +€3,532 | +38.5% |
| Suppliers | 440/4 | €9,176 | €12,708 | +€3,532 | +38.5% |
| Taxes, remuneration and social security | 45 | - | €621 | +€621 | |
| Taxes | 450/3 | - | €621 | +€621 | |
| Other amounts payable | 47/48 | €47,434 | €23,813 | -€23,620 | -49.8% |
| Accrued charges and deferred income | 492/3 | €1,135 | €6,947 | +€5,812 | +512% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,487 | €1,487 | +€0 | 0.0% |
| Other operating charges | 640/8 | €4,921 | €5,061 | +€139 | +2.8% |
| Gross operating margin | 9900 | €24,084 | €16,353 | -€7,731 | -32.1% |
| Operating profit (loss) | 9901 | €17,676 | €9,805 | -€7,870 | -44.5% |
| Financial charges | 65/66B | €12,031 | €5,855 | -€6,176 | -51.3% |
| Recurring financial charges | 65 | €59 | €5,855 | +€5,797 | +9,909% |
| Non-recurring financial charges | 66B | €11,972 | - | -€11,972 | |
| Profit (loss) for the period before taxes | 9903 | €5,645 | €3,950 | -€1,695 | -30.0% |
| Income taxes | 67/77 | - | €1,698 | +€1,698 | |
| Profit (loss) for the period | 9904 | €5,645 | €2,252 | -€3,393 | -60.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,645 | €2,252 | -€3,393 | -60.1% |
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 31 October 2026 via checked.be.