RFMS: what changed
RFMS
Largest movements
- Receivables within one year +€44,137
up €44,137 (+27.2%), from €162,111 to €206,248
of which Other amounts receivable: +€42,909
- Cash -€19,030
down €19,030 (-94.1%), from €20,220 to €1,190
mainly Receivables within one year (-€44,137) and Other debts (-€16,000)
- Deferred charges and accrued income +€7,254
up €7,254 (+69.4%), from €10,454 to €17,708
- Tangible fixed assets -€3,914
down €3,914 (-25.2%), from €15,514 to €11,600
- Profit (loss) carried forward +€52,597
up €52,597 (+6.7%), from -€786,824 to -€734,227
- Other debts -€16,000
down €16,000 (-83.5%), from €19,170 to €3,170
- Trade debts -€8,326
down €8,326 (-61.8%), from €13,472 to €5,146
- Gross operating margin +€27,223
up €27,223 (+81.5%), from -€33,398 to -€6,175
- Other operating charges -€2,008
down €2,008 (-79.4%), from €2,528 to €520
- Financial income +€1,812
up €1,812 (+33.3%), from €5,444 to €7,255
- Financial charges -€838
down €838 (-1.5%), from -€57,442 to -€58,280
of which Non-recurring financial charges: -€757
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €308,475 | €336,746 | +€28,271 | +9.2% |
| Fixed assets | 21/28 | €115,690 | €111,600 | -€4,090 | -3.5% |
| Intangible fixed assets | 21 | €176 | €0 | -€176 | -100% |
| Tangible fixed assets | 22/27 | €15,514 | €11,600 | -€3,914 | -25.2% |
| Furniture and vehicles | 24 | €15,514 | €11,600 | -€3,914 | -25.2% |
| Financial fixed assets | 28 | €100,000 | €100,000 | = | 0.0% |
| Current assets | 29/58 | €192,785 | €225,146 | +€32,361 | +16.8% |
| Amounts receivable within one year | 40/41 | €162,111 | €206,248 | +€44,137 | +27.2% |
| Trade receivables | 40 | €118,779 | €120,007 | +€1,228 | +1.0% |
| Other amounts receivable | 41 | €43,332 | €86,241 | +€42,909 | +99.0% |
| Cash at bank and in hand | 54/58 | €20,220 | €1,190 | -€19,030 | -94.1% |
| Deferred charges and accrued income | 490/1 | €10,454 | €17,708 | +€7,254 | +69.4% |
| Total equity and liabilities | 10/49 | €308,475 | €336,746 | +€28,271 | +9.2% |
| Equity | 10/15 | €275,769 | €328,366 | +€52,597 | +19.1% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €62,593 | €62,593 | = | 0.0% |
| Distributable reserves | 133 | €62,593 | €62,593 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€786,824 | -€734,227 | +€52,597 | +6.7% |
| Amounts payable | 17/49 | €32,706 | €8,380 | -€24,326 | -74.4% |
| Amounts payable within one year | 42/48 | €32,642 | €8,316 | -€24,326 | -74.5% |
| Trade debts | 44 | €13,472 | €5,146 | -€8,326 | -61.8% |
| Suppliers | 440/4 | €13,472 | €5,146 | -€8,326 | -61.8% |
| Other amounts payable | 47/48 | €19,170 | €3,170 | -€16,000 | -83.5% |
| Accrued charges and deferred income | 492/3 | €64 | €64 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,143 | €6,244 | +€100 | +1.6% |
| Other operating charges | 640/8 | €2,528 | €520 | -€2,008 | -79.4% |
| Gross operating margin | 9900 | -€33,398 | -€6,175 | +€27,223 | +81.5% |
| Operating profit (loss) | 9901 | -€42,069 | -€12,938 | +€29,131 | +69.2% |
| Financial income | 75/76B | €5,444 | €7,255 | +€1,812 | +33.3% |
| Recurring financial income | 75 | €5,444 | €7,255 | +€1,812 | +33.3% |
| Financial charges | 65/66B | -€57,442 | -€58,280 | -€838 | -1.5% |
| Recurring financial charges | 65 | €270 | €190 | -€81 | -29.8% |
| Non-recurring financial charges | 66B | -€57,713 | -€58,469 | -€757 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €20,816 | €52,597 | +€31,781 | +153% |
| Profit (loss) for the period | 9904 | €20,816 | €52,597 | +€31,781 | +153% |
| Profit (loss) for the period to be appropriated | 9905 | €20,816 | €52,597 | +€31,781 | +153% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.