RIFAG: 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.
RIFAG
Largest movements
- Cash -€45,438
down €45,438 (-86.7%), from €52,400 to €6,962
mainly Other debts (-€47,689) and Receivables within one year (-€28,340)
- Receivables within one year +€28,340
up €28,340 (+60.1%), from €47,163 to €75,503
of which Trade receivables: +€24,197
- Current investments +€24,000
up €24,000 (+38.7%), from €62,084 to €86,083
- Receivables after one year -€10,000
no longer reported in 2026 (was €10,000)
- Other debts -€47,689
down €47,689 (-55.3%), from €86,276 to €38,586
- Reserves +€31,572
up €31,572 (+9.2%), from €341,934 to €373,506
- Trade debts +€15,442
up €15,442 (+2,000%), from €772 to €16,214
- Gross operating margin -€14,460
down €14,460 (-23.3%), from €62,039 to €47,579
- Taxes -€3,912
down €3,912 (-22.7%), from €17,201 to €13,288
- Financial income -€1,122
no longer reported in 2026 (was €1,122)
- Depreciation -€681
down €681 (-29.5%), from €2,310 to €1,629
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €453,000 | €449,199 | -€3,801 | -0.8% |
| Fixed assets | 21/28 | €279,577 | €279,424 | -€153 | -0.1% |
| Tangible fixed assets | 22/27 | €4,577 | €4,424 | -€153 | -3.3% |
| Plant, machinery and equipment | 23 | €2,075 | €2,215 | +€141 | +6.8% |
| Other tangible fixed assets | 26 | €2,502 | €2,208 | -€294 | -11.7% |
| Financial fixed assets | 28 | €275,000 | €275,000 | = | 0.0% |
| Current assets | 29/58 | €173,423 | €169,776 | -€3,648 | -2.1% |
| Amounts receivable after more than one year | 29 | €10,000 | - | -€10,000 | |
| Other amounts receivable | 291 | €10,000 | - | -€10,000 | |
| Amounts receivable within one year | 40/41 | €47,163 | €75,503 | +€28,340 | +60.1% |
| Trade receivables | 40 | €12,738 | €36,935 | +€24,197 | +190% |
| Other amounts receivable | 41 | €34,425 | €38,568 | +€4,144 | +12.0% |
| Current investments | 50/53 | €62,084 | €86,083 | +€24,000 | +38.7% |
| Cash at bank and in hand | 54/58 | €52,400 | €6,962 | -€45,438 | -86.7% |
| Deferred charges and accrued income | 490/1 | €1,778 | €1,227 | -€550 | -31.0% |
| Total equity and liabilities | 10/49 | €453,000 | €449,199 | -€3,801 | -0.8% |
| Equity | 10/15 | €354,334 | €385,906 | +€31,572 | +8.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €341,934 | €373,506 | +€31,572 | +9.2% |
| Distributable reserves | 133 | €341,934 | €373,506 | +€31,572 | +9.2% |
| Amounts payable | 17/49 | €98,666 | €63,294 | -€35,373 | -35.9% |
| Amounts payable within one year | 42/48 | €94,754 | €60,054 | -€34,700 | -36.6% |
| Trade debts | 44 | €772 | €16,214 | +€15,442 | +2,000% |
| Suppliers | 440/4 | €772 | €16,214 | +€15,442 | +2,000% |
| Taxes, remuneration and social security | 45 | €7,706 | €5,253 | -€2,453 | -31.8% |
| Taxes | 450/3 | €7,706 | €5,253 | -€2,453 | -31.8% |
| Other amounts payable | 47/48 | €86,276 | €38,586 | -€47,689 | -55.3% |
| Accrued charges and deferred income | 492/3 | €3,912 | €3,240 | -€672 | -17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,310 | €1,629 | -€681 | -29.5% |
| Other operating charges | 640/8 | €794 | €990 | +€197 | +24.8% |
| Gross operating margin | 9900 | €62,039 | €47,579 | -€14,460 | -23.3% |
| Operating profit (loss) | 9901 | €58,935 | €44,960 | -€13,975 | -23.7% |
| Financial income | 75/76B | €1,122 | - | -€1,122 | |
| Recurring financial income | 75 | €1,122 | - | -€1,122 | |
| Financial charges | 65/66B | €96 | €100 | +€4 | +4.0% |
| Recurring financial charges | 65 | €96 | €100 | +€4 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €59,961 | €44,860 | -€15,101 | -25.2% |
| Income taxes | 67/77 | €17,201 | €13,288 | -€3,912 | -22.7% |
| Profit (loss) for the period | 9904 | €42,761 | €31,572 | -€11,189 | -26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €42,761 | €31,572 | -€11,189 | -26.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.