RFVC: 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.
RFVC
Largest movements
- Receivables within one year +€20,180
up €20,180 (+1555.5%), from €1,297 to €21,478
of which Trade receivables: +€20,292
- Stocks and contracts +€4,135
up €4,135 (+19.7%), from €20,941 to €25,076
of which Contracts in progress: +€4,110
- Tangible fixed assets -€763
down €763 (-58.9%), from €1,295 to €531
- Trade debts +€15,044
up €15,044 (+680.7%), from €2,210 to €17,254
- Other debts +€7,232
up €7,232 (+93.5%), from €7,734 to €14,966
- Reserves +€535
up €535 (+6.9%), from €7,700 to €8,235
- Gross operating margin +€752
up €752 (+42.6%), from €1,763 to €2,515
- Taxes +€221
up €221 (+61.7%), from €357 to €578
- Financial income -€60
down €60 (-100.0%), from €60 to €0
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 | €26,437 | €49,732 | +€23,295 | +88.1% |
| Fixed assets | 21/28 | €1,295 | €531 | -€763 | -58.9% |
| Tangible fixed assets | 22/27 | €1,295 | €531 | -€763 | -58.9% |
| Plant, machinery and equipment | 23 | €1,295 | €531 | -€763 | -58.9% |
| Current assets | 29/58 | €25,142 | €49,200 | +€24,058 | +95.7% |
| Stocks and contracts in progress | 3 | €20,941 | €25,076 | +€4,135 | +19.7% |
| Stocks | 30/36 | €1,981 | €2,006 | +€25 | +1.3% |
| Contracts in progress | 37 | €18,960 | €23,070 | +€4,110 | +21.7% |
| Amounts receivable within one year | 40/41 | €1,297 | €21,478 | +€20,180 | +1555.5% |
| Trade receivables | 40 | €1,180 | €21,471 | +€20,292 | +1720.0% |
| Other amounts receivable | 41 | €118 | €6 | -€112 | -94.8% |
| Cash at bank and in hand | 54/58 | €2,904 | €2,646 | -€258 | -8.9% |
| Total equity and liabilities | 10/49 | €26,437 | €49,732 | +€23,295 | +88.1% |
| Equity | 10/15 | €15,698 | €16,232 | +€535 | +3.4% |
| Contributions | 10/11 | €7,437 | €7,437 | = | 0.0% |
| Reserves | 13 | €7,700 | €8,235 | +€535 | +6.9% |
| Distributable reserves | 133 | €7,700 | €8,235 | +€535 | +6.9% |
| Profit (loss) carried forward | 14 | €561 | €561 | = | 0.0% |
| Amounts payable | 17/49 | €10,739 | €33,499 | +€22,760 | +211.9% |
| Amounts payable within one year | 42/48 | €10,739 | €33,499 | +€22,760 | +211.9% |
| Trade debts | 44 | €2,210 | €17,254 | +€15,044 | +680.7% |
| Suppliers | 440/4 | €2,210 | €17,254 | +€15,044 | +680.7% |
| Taxes, remuneration and social security | 45 | €795 | €1,279 | +€484 | +60.9% |
| Taxes | 450/3 | €795 | €1,279 | +€484 | +60.9% |
| Other amounts payable | 47/48 | €7,734 | €14,966 | +€7,232 | +93.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €763 | €763 | = | 0.0% |
| Other operating charges | 640/8 | €578 | €593 | +€14 | +2.5% |
| Gross operating margin | 9900 | €1,763 | €2,515 | +€752 | +42.6% |
| Operating profit (loss) | 9901 | €422 | €1,159 | +€737 | +174.9% |
| Financial income | 75/76B | €60 | €0 | -€60 | -100.0% |
| Recurring financial income | 75 | €60 | €0 | -€60 | -100.0% |
| Financial charges | 65/66B | €49 | €46 | -€3 | -6.2% |
| Recurring financial charges | 65 | €49 | €46 | -€3 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €432 | €1,112 | +€681 | +157.7% |
| Income taxes | 67/77 | €357 | €578 | +€221 | +61.7% |
| Profit (loss) for the period | 9904 | €74 | €535 | +€460 | +618.2% |
| Profit (loss) for the period to be appropriated | 9905 | €74 | €535 | +€460 | +618.2% |
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 5 October 2026 via checked.be.