RIF: 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.
RIF
Largest movements
- Financial fixed assets -€285,852
no longer reported in 2025 (was €285,852)
- Cash +€85,916
up €85,916 (+66.2%), from €129,815 to €215,732
mainly Investment in fixed assets (net) (+€285,852) and Net result for the year (+€25,284)
- Tangible fixed assets -€5,909
down €5,909 (-5.4%), from €109,678 to €103,770
- Other debts -€105,743
down €105,743 (-98.4%), from €107,468 to €1,725
- Reserves -€58,155
down €58,155 (-17.3%), from €336,196 to €278,041
- Debts after one year -€10,163
down €10,163 (-81.0%), from €12,543 to €2,380
of which Financial debts: -€10,163
- Current portion of long-term debt -€10,053
down €10,053 (-49.7%), from €20,216 to €10,163
- Accrued charges and deferred income -€8,354
down €8,354 (-85.3%), from €9,797 to €1,443
- Financial income -€42,112
down €42,112 (-79.8%), from €52,793 to €10,682
- Depreciation -€13,238
down €13,238 (-69.1%), from €19,147 to €5,909
- Gross operating margin -€9,941
down €9,941 (-10.3%), from €96,304 to €86,364
- Financial charges -€8,021
down €8,021 (-90.2%), from €8,891 to €870
- Taxes -€2,723
down €2,723 (-11.9%), from €22,926 to €20,203
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 | €525,346 | €324,103 | -€201,242 | -38.3% |
| Fixed assets | 21/28 | €395,530 | €103,770 | -€291,761 | -73.8% |
| Tangible fixed assets | 22/27 | €109,678 | €103,770 | -€5,909 | -5.4% |
| Land and buildings | 22 | €109,678 | €103,770 | -€5,909 | -5.4% |
| Financial fixed assets | 28 | €285,852 | - | -€285,852 | |
| Current assets | 29/58 | €129,815 | €220,334 | +€90,518 | +69.7% |
| Amounts receivable within one year | 40/41 | - | €4,602 | +€4,602 | |
| Other amounts receivable | 41 | - | €4,602 | +€4,602 | |
| Cash at bank and in hand | 54/58 | €129,815 | €215,732 | +€85,916 | +66.2% |
| Total equity and liabilities | 10/49 | €525,346 | €324,103 | -€201,242 | -38.3% |
| Equity | 10/15 | €361,933 | €303,778 | -€58,155 | -16.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €336,196 | €278,041 | -€58,155 | -17.3% |
| Distributable reserves | 133 | €336,196 | €278,041 | -€58,155 | -17.3% |
| Profit (loss) carried forward | 14 | €7,137 | €7,137 | = | 0.0% |
| Amounts payable | 17/49 | €163,413 | €20,326 | -€143,087 | -87.6% |
| Amounts payable after more than one year | 17 | €12,543 | €2,380 | -€10,163 | -81.0% |
| Financial debts | 170/4 | €10,163 | - | -€10,163 | |
| Other amounts payable | 178/9 | €2,380 | €2,380 | = | 0.0% |
| Amounts payable within one year | 42/48 | €141,073 | €16,503 | -€124,570 | -88.3% |
| Current portion of amounts payable after more than one year | 42 | €20,216 | €10,163 | -€10,053 | -49.7% |
| Trade debts | 44 | €3,013 | €1,656 | -€1,357 | -45.0% |
| Suppliers | 440/4 | €3,013 | €1,656 | -€1,357 | -45.0% |
| Taxes, remuneration and social security | 45 | €10,376 | €2,959 | -€7,417 | -71.5% |
| Taxes | 450/3 | €10,376 | €2,959 | -€7,417 | -71.5% |
| Other amounts payable | 47/48 | €107,468 | €1,725 | -€105,743 | -98.4% |
| Accrued charges and deferred income | 492/3 | €9,797 | €1,443 | -€8,354 | -85.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,147 | €5,909 | -€13,238 | -69.1% |
| Other operating charges | 640/8 | €13,181 | €11,295 | -€1,886 | -14.3% |
| Non-recurring operating charges | 66A | €63 | €33,485 | +€33,422 | +52967.3% |
| Gross operating margin | 9900 | €96,304 | €86,364 | -€9,941 | -10.3% |
| Operating profit (loss) | 9901 | €63,914 | €35,675 | -€28,239 | -44.2% |
| Financial income | 75/76B | €52,793 | €10,682 | -€42,112 | -79.8% |
| Recurring financial income | 75 | €52,793 | €10,682 | -€42,112 | -79.8% |
| Financial charges | 65/66B | €8,891 | €870 | -€8,021 | -90.2% |
| Recurring financial charges | 65 | €8,891 | €870 | -€8,021 | -90.2% |
| Profit (loss) for the period before taxes | 9903 | €107,816 | €45,486 | -€62,330 | -57.8% |
| Income taxes | 67/77 | €22,926 | €20,203 | -€2,723 | -11.9% |
| Profit (loss) for the period | 9904 | €84,890 | €25,284 | -€59,607 | -70.2% |
| Profit (loss) for the period to be appropriated | 9905 | €84,890 | €25,284 | -€59,607 | -70.2% |
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 6 October 2026 via checked.be.