RF Projects: 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 Projects
Largest movements
- Tangible fixed assets -€10,037
down €10,037 (-23.4%), from €42,847 to €32,809
of which Leasing and similar rights: -€9,773
- Receivables within one year -€8,004
down €8,004 (-59.6%), from €13,427 to €5,424
of which Other amounts receivable: -€4,204
- Cash -€2,145
down €2,145 (-88.2%), from €2,432 to €287
mainly Debts after one year (-€20,810) and Net result for the year (-€7,558)
- Deferred charges and accrued income +€1,674
up €1,674 (+4,805%), from €35 to €1,709
- Debts after one year -€20,810
down €20,810 (-40.6%), from €51,215 to €30,405
- Profit (loss) carried forward -€7,558
down €7,558 (-15.7%), from -€48,061 to -€55,619
- Trade debts +€3,404
up €3,404 (+153%), from €2,231 to €5,635
- Tax, wage and social debts +€2,346
new in 2023: €2,346
of which Remuneration and social security: +€2,130
- Other debts +€2,094
new in 2023: €2,094
- Gross operating margin -€7,314
down €7,314 (-51.1%), from €14,319 to €7,005
- Depreciation +€3,481
up €3,481 (+53.1%), from €6,557 to €10,037
- Financial charges -€2,717
down €2,717 (-45.5%), from €5,971 to €3,254
- Other operating charges -€329
down €329 (-20.6%), from €1,601 to €1,271
- Financial income -€241
no longer reported in 2023 (was €241)
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,741 | €40,229 | -€18,512 | -31.5% |
| Fixed assets | 21/28 | €42,847 | €32,809 | -€10,037 | -23.4% |
| Tangible fixed assets | 22/27 | €42,847 | €32,809 | -€10,037 | -23.4% |
| Furniture and vehicles | 24 | €274 | €10 | -€264 | -96.4% |
| Leasing and similar rights | 25 | €42,572 | €32,799 | -€9,773 | -23.0% |
| Current assets | 29/58 | €15,894 | €7,419 | -€8,475 | -53.3% |
| Amounts receivable within one year | 40/41 | €13,427 | €5,424 | -€8,004 | -59.6% |
| Trade receivables | 40 | €8,343 | €4,543 | -€3,800 | -45.5% |
| Other amounts receivable | 41 | €5,084 | €880 | -€4,204 | -82.7% |
| Cash at bank and in hand | 54/58 | €2,432 | €287 | -€2,145 | -88.2% |
| Deferred charges and accrued income | 490/1 | €35 | €1,709 | +€1,674 | +4,805% |
| Total equity and liabilities | 10/49 | €58,741 | €40,229 | -€18,512 | -31.5% |
| Equity | 10/15 | -€20,109 | -€27,667 | -€7,558 | -37.6% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €15,952 | €15,952 | = | 0.0% |
| Distributable reserves | 133 | €15,952 | €15,952 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,061 | -€55,619 | -€7,558 | -15.7% |
| Amounts payable | 17/49 | €78,850 | €67,896 | -€10,954 | -13.9% |
| Amounts payable after more than one year | 17 | €51,215 | €30,405 | -€20,810 | -40.6% |
| Financial debts | 170/4 | €51,215 | €30,405 | -€20,810 | -40.6% |
| Amounts payable within one year | 42/48 | €23,859 | €33,715 | +€9,856 | +41.3% |
| Current portion of amounts payable after more than one year | 42 | €21,628 | €23,640 | +€2,012 | +9.3% |
| Trade debts | 44 | €2,231 | €5,635 | +€3,404 | +153% |
| Suppliers | 440/4 | €2,231 | €5,635 | +€3,404 | +153% |
| Taxes, remuneration and social security | 45 | - | €2,346 | +€2,346 | |
| Taxes | 450/3 | - | €216 | +€216 | |
| Remuneration and social security | 454/9 | - | €2,130 | +€2,130 | |
| Other amounts payable | 47/48 | - | €2,094 | +€2,094 | |
| Accrued charges and deferred income | 492/3 | €3,776 | €3,776 | = | 0.0% |
| Non-recurring operating income | 76A | €4,094 | - | -€4,094 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,557 | €10,037 | +€3,481 | +53.1% |
| Other operating charges | 640/8 | €1,601 | €1,271 | -€329 | -20.6% |
| Gross operating margin | 9900 | €14,319 | €7,005 | -€7,314 | -51.1% |
| Operating profit (loss) | 9901 | €6,161 | -€4,304 | -€10,465 | |
| Financial income | 75/76B | €241 | - | -€241 | |
| Recurring financial income | 75 | €241 | - | -€241 | |
| Financial charges | 65/66B | €5,971 | €3,254 | -€2,717 | -45.5% |
| Recurring financial charges | 65 | €5,971 | €3,254 | -€2,717 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | €431 | -€7,558 | -€7,989 | |
| Profit (loss) for the period | 9904 | €431 | -€7,558 | -€7,989 | |
| Profit (loss) for the period to be appropriated | 9905 | €431 | -€7,558 | -€7,989 |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.