RFI: what changed
Two fiscal 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.
RFI
Largest movements
- Receivables within one year +€27,435
up €27,435 (+75.6%), from €36,266 to €63,701
of which Other amounts receivable: +€21,264
- Other debts +€56,350
up €56,350 (+142.5%), from €39,546 to €95,895
- Reserves -€27,571
down €27,571 (-7.5%), from €365,373 to €337,802
of which Distributable reserves: -€27,571
- Tax, wage and social debts +€8,274
up €8,274 (+129.8%), from €6,373 to €14,647
of which Taxes: +€11,933
- Debts after one year -€7,875
down €7,875 (-79.5%), from €9,904 to €2,029
- Financial income -€60,355
down €60,355 (-95.3%), from €63,315 to €2,960
- Gross operating margin +€33,429
up €33,429 (+100.7%), from €33,211 to €66,640
- Depreciation -€14,376
down €14,376 (-83.2%), from €17,278 to €2,903
- Taxes +€10,163
up €10,163 (+106.3%), from €9,562 to €19,725
- Financial charges -€1,809
down €1,809 (-22.9%), from €7,905 to €6,096
of which Financial charges: -€1,210
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.
Cash bridge derived
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 | €438,762 | €467,411 | +€28,649 | +6.5% |
| Fixed assets | 21/28 | €206,266 | €203,363 | -€2,903 | -1.4% |
| Tangible fixed assets | 22/27 | €3,341 | €438 | -€2,903 | -86.9% |
| Furniture and vehicles | 24 | €3,341 | €438 | -€2,903 | -86.9% |
| Financial fixed assets | 28 | €202,925 | €202,925 | = | 0.0% |
| Current assets | 29/58 | €232,496 | €264,047 | +€31,551 | +13.6% |
| Amounts receivable after more than one year | 29 | €60,000 | €60,000 | = | 0.0% |
| Other amounts receivable | 291 | €60,000 | €60,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €36,266 | €63,701 | +€27,435 | +75.6% |
| Trade receivables | 40 | €15,609 | €21,780 | +€6,171 | +39.5% |
| Other amounts receivable | 41 | €20,657 | €41,921 | +€21,264 | +102.9% |
| Cash at bank and in hand | 54/58 | €133,339 | €137,218 | +€3,880 | +2.9% |
| Deferred charges and accrued income | 490/1 | €2,891 | €3,128 | +€237 | +8.2% |
| Total equity and liabilities | 10/49 | €438,762 | €467,411 | +€28,649 | +6.5% |
| Equity | 10/15 | €371,573 | €344,002 | -€27,571 | -7.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €365,373 | €337,802 | -€27,571 | -7.5% |
| Tax-exempt reserves | 132 | €10,849 | €10,849 | = | 0.0% |
| Distributable reserves | 133 | €354,524 | €326,953 | -€27,571 | -7.8% |
| Amounts payable | 17/49 | €67,189 | €123,409 | +€56,220 | +83.7% |
| Amounts payable after more than one year | 17 | €9,904 | €2,029 | -€7,875 | -79.5% |
| Financial debts | 170/4 | €9,904 | €2,029 | -€7,875 | -79.5% |
| Amounts payable within one year | 42/48 | €56,285 | €120,380 | +€64,095 | +113.9% |
| Current portion of amounts payable after more than one year | 42 | €7,504 | €7,875 | +€371 | +4.9% |
| Trade debts | 44 | €2,862 | €1,962 | -€900 | -31.4% |
| Suppliers | 440/4 | €2,862 | €1,962 | -€900 | -31.4% |
| Taxes, remuneration and social security | 45 | €6,373 | €14,647 | +€8,274 | +129.8% |
| Taxes | 450/3 | €2,714 | €14,647 | +€11,933 | +439.7% |
| Remuneration and social security | 454/9 | €3,659 | - | -€3,659 | |
| Other amounts payable | 47/48 | €39,546 | €95,895 | +€56,350 | +142.5% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,278 | €2,903 | -€14,376 | -83.2% |
| Other operating charges | 640/8 | €556 | €549 | -€7 | -1.2% |
| Gross operating margin | 9900 | €33,211 | €66,640 | +€33,429 | +100.7% |
| Operating profit (loss) | 9901 | €15,376 | €63,188 | +€47,812 | +310.9% |
| Financial income | 75/76B | €63,315 | €2,960 | -€60,355 | -95.3% |
| Recurring financial income | 75 | €63,315 | €2,960 | -€60,355 | -95.3% |
| Financial charges | 65/66B | €7,905 | €6,096 | -€1,809 | -22.9% |
| Recurring financial charges | 65 | €7,306 | €6,096 | -€1,210 | -16.6% |
| Non-recurring financial charges | 66B | €599 | - | -€599 | |
| Profit (loss) for the period before taxes | 9903 | €70,786 | €60,052 | -€10,734 | -15.2% |
| Income taxes | 67/77 | €9,562 | €19,725 | +€10,163 | +106.3% |
| Profit (loss) for the period | 9904 | €61,224 | €40,327 | -€20,897 | -34.1% |
| Profit (loss) for the period to be appropriated | 9905 | €61,224 | €40,327 | -€20,897 | -34.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.