RFC GROUP: 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.
RFC GROUP
Largest movements
- Receivables within one year +€99,838
up €99,838 (+74.5%), from €134,092 to €233,930
of which Other amounts receivable: +€75,514
- Cash -€28,993
down €28,993 (-33.6%), from €86,290 to €57,297
mainly Receivables within one year (-€99,838) and Investment in fixed assets (net) (-€81,468)
- Tangible fixed assets +€27,252
up €27,252 (+7.3%), from €374,950 to €402,202
of which Furniture and vehicles: +€69,068
- Trade debts +€82,375
up €82,375 (+974%), from €8,460 to €90,835
- Reserves +€65,000
up €65,000 (+3,495%), from €1,860 to €66,860
of which Distributable reserves: +€65,000
- Debts after one year -€29,917
down €29,917 (-17.6%), from €170,130 to €140,213
of which Financial debts: -€29,917
- Tax, wage and social debts -€15,882
down €15,882 (-22.1%), from €71,999 to €56,117
- Gross operating margin +€36,244
up €36,244 (+29.3%), from €123,755 to €159,998
- Staff costs -€25,326
no longer reported in 2025 (was €25,326)
- Taxes +€23,925
up €23,925 (+152%), from €15,773 to €39,698
- Financial income +€3,381
up €3,381 (+20.7%), from €16,350 to €19,731
- Financial charges -€3,174
down €3,174 (-32.7%), from €9,710 to €6,536
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 | €1,047,004 | €1,158,269 | +€111,265 | +10.6% |
| Fixed assets | 21/28 | €374,950 | €402,202 | +€27,252 | +7.3% |
| Tangible fixed assets | 22/27 | €374,950 | €402,202 | +€27,252 | +7.3% |
| Land and buildings | 22 | €179,610 | €165,932 | -€13,678 | -7.6% |
| Plant, machinery and equipment | 23 | €5,216 | €4,310 | -€906 | -17.4% |
| Furniture and vehicles | 24 | €6,428 | €75,496 | +€69,068 | +1,074% |
| Other tangible fixed assets | 26 | €183,696 | €156,464 | -€27,232 | -14.8% |
| Current assets | 29/58 | €672,054 | €756,067 | +€84,013 | +12.5% |
| Amounts receivable after more than one year | 29 | €435,535 | €444,620 | +€9,085 | +2.1% |
| Other amounts receivable | 291 | €435,535 | €444,620 | +€9,085 | +2.1% |
| Amounts receivable within one year | 40/41 | €134,092 | €233,930 | +€99,838 | +74.5% |
| Trade receivables | 40 | - | €24,324 | +€24,324 | |
| Other amounts receivable | 41 | €134,092 | €209,606 | +€75,514 | +56.3% |
| Current investments | 50/53 | €12,500 | €12,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €86,290 | €57,297 | -€28,993 | -33.6% |
| Deferred charges and accrued income | 490/1 | €3,637 | €7,720 | +€4,083 | +112% |
| Total equity and liabilities | 10/49 | €1,047,004 | €1,158,269 | +€111,265 | +10.6% |
| Equity | 10/15 | €767,219 | €841,187 | +€73,968 | +9.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €66,860 | +€65,000 | +3,495% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €65,000 | +€65,000 | |
| Profit (loss) carried forward | 14 | €759,159 | €768,127 | +€8,968 | +1.2% |
| Amounts payable | 17/49 | €279,784 | €317,081 | +€37,297 | +13.3% |
| Amounts payable after more than one year | 17 | €170,130 | €140,213 | -€29,917 | -17.6% |
| Financial debts | 170/4 | €165,630 | €135,713 | -€29,917 | -18.1% |
| Other amounts payable | 178/9 | €4,500 | €4,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €109,654 | €176,868 | +€67,214 | +61.3% |
| Current portion of amounts payable after more than one year | 42 | €29,196 | €29,917 | +€721 | +2.5% |
| Trade debts | 44 | €8,460 | €90,835 | +€82,375 | +974% |
| Suppliers | 440/4 | €8,460 | €90,835 | +€82,375 | +974% |
| Taxes, remuneration and social security | 45 | €71,999 | €56,117 | -€15,882 | -22.1% |
| Taxes | 450/3 | €71,999 | €56,117 | -€15,882 | -22.1% |
| Remuneration, social security and pensions | 62 | €25,326 | - | -€25,326 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,306 | €54,216 | +€2,911 | +5.7% |
| Other operating charges | 640/8 | €3,545 | €5,311 | +€1,766 | +49.8% |
| Gross operating margin | 9900 | €123,755 | €159,998 | +€36,244 | +29.3% |
| Operating profit (loss) | 9901 | €43,578 | €100,471 | +€56,893 | +131% |
| Financial income | 75/76B | €16,350 | €19,731 | +€3,381 | +20.7% |
| Recurring financial income | 75 | €16,350 | €19,731 | +€3,381 | +20.7% |
| Financial charges | 65/66B | €9,710 | €6,536 | -€3,174 | -32.7% |
| Recurring financial charges | 65 | €9,710 | €6,536 | -€3,174 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | €50,217 | €113,666 | +€63,449 | +126% |
| Income taxes | 67/77 | €15,773 | €39,698 | +€23,925 | +152% |
| Profit (loss) for the period | 9904 | €34,445 | €73,968 | +€39,523 | +115% |
| Profit (loss) for the period to be appropriated | 9905 | €34,445 | €73,968 | +€39,523 | +115% |
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 13 October 2026 via checked.be.