RIFAL: what changed
What changed
RIFAL
NACE 43.350, Other building finishing work
filed annual accounts (NBB)
Net result for the year
€41,471
2025 · €75,973-€34,502
Equity
€289,502
2025 · €248,031+€41,471
Cash
€1,321
2025 · €1,321
Balance sheet total
€818,297
2025 · €1.4m-€616,869
Largest movements
Assets
- Stocks and contracts -€607,807
down €607,807 (-45.2%), from €1.3m to €738,112
Equity and liabilities
- Current portion of long-term debt -€678,983
down €678,983 (-64.0%), from €1.1m to €381,989
- Profit (loss) carried forward +€41,471
up €41,471 (+18.4%), from €225,571 to €267,042
- Short-term financial debts +€31,896
up €31,896 (+1,064%), from €2,999 to €34,896
Income statement
- Gross operating margin -€77,082
down €77,082 (-43.2%), from €178,418 to €101,336
- Financial charges -€26,424
down €26,424 (-40.7%), from €64,872 to €38,449
- Taxes -€13,213
down €13,213 (-42.8%), from €30,846 to €17,634
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€75,973
Gross operating margin
-€77,082
Staff costs
+€1,614
Depreciation
+€22
Other operating charges
+€1,197
Financial income
+€112
Financial charges
+€26,424
Taxes
+€13,213
Result 2026
€41,471
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€647,086
Investment
€0
Financing
-€647,086
Cash 2025
€1,321
From operations (derived)
+€647,086
Net result for the year
+€41,471
Depreciation
+€3,720
Stocks and contracts
+€607,807
Receivables within one year
+€4,860
Smaller working-capital items
+€1,472
Trade debts
-€12,244
Financing
-€647,086
Current portion of long-term debt
-€678,983
Short-term financial debts
+€31,896
Cash 2026
€1,321
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,435,167 | €818,297 | -€616,869 | -43.0% |
| Fixed assets | 21/28 | €8,659 | €4,940 | -€3,720 | -43.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €8,064 | €4,345 | -€3,720 | -46.1% |
| Plant, machinery and equipment | 23 | €1,879 | €1,402 | -€477 | -25.4% |
| Furniture and vehicles | 24 | €6,185 | €2,942 | -€3,243 | -52.4% |
| Financial fixed assets | 28 | €595 | €595 | = | 0.0% |
| Current assets | 29/58 | €1,426,507 | €813,358 | -€613,150 | -43.0% |
| Stocks and contracts in progress | 3 | €1,345,919 | €738,112 | -€607,807 | -45.2% |
| Stocks | 30/36 | €1,345,919 | €738,112 | -€607,807 | -45.2% |
| Amounts receivable within one year | 40/41 | €75,367 | €70,508 | -€4,860 | -6.4% |
| Other amounts receivable | 41 | €75,367 | €70,508 | -€4,860 | -6.4% |
| Cash at bank and in hand | 54/58 | €1,321 | €1,321 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €3,900 | €3,417 | -€483 | -12.4% |
| Total equity and liabilities | 10/49 | €1,435,167 | €818,297 | -€616,869 | -43.0% |
| Equity | 10/15 | €248,031 | €289,502 | +€41,471 | +16.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,860 | €3,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €225,571 | €267,042 | +€41,471 | +18.4% |
| Amounts payable | 17/49 | €1,187,136 | €528,795 | -€658,341 | -55.5% |
| Amounts payable within one year | 42/48 | €1,187,136 | €528,795 | -€658,341 | -55.5% |
| Current portion of amounts payable after more than one year | 42 | €1,060,972 | €381,989 | -€678,983 | -64.0% |
| Financial debts | 43 | €2,999 | €34,896 | +€31,896 | +1,064% |
| Credit institutions | 430/8 | €2,999 | €34,896 | +€31,896 | +1,064% |
| Trade debts | 44 | €79,387 | €67,143 | -€12,244 | -15.4% |
| Suppliers | 440/4 | €79,387 | €67,143 | -€12,244 | -15.4% |
| Taxes, remuneration and social security | 45 | €43,778 | €44,767 | +€990 | +2.3% |
| Taxes | 450/3 | €43,273 | €43,767 | +€494 | +1.1% |
| Remuneration and social security | 454/9 | €504 | €1,000 | +€496 | +98.3% |
| Remuneration, social security and pensions | 62 | €1,614 | - | -€1,614 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,742 | €3,720 | -€22 | -0.6% |
| Other operating charges | 640/8 | €5,113 | €3,917 | -€1,197 | -23.4% |
| Gross operating margin | 9900 | €178,418 | €101,336 | -€77,082 | -43.2% |
| Operating profit (loss) | 9901 | €167,949 | €93,700 | -€74,250 | -44.2% |
| Financial income | 75/76B | €3,742 | €3,854 | +€112 | +3.0% |
| Recurring financial income | 75 | €3,742 | €3,854 | +€112 | +3.0% |
| Financial charges | 65/66B | €64,872 | €38,449 | -€26,424 | -40.7% |
| Recurring financial charges | 65 | €64,872 | €38,449 | -€26,424 | -40.7% |
| Profit (loss) for the period before taxes | 9903 | €106,819 | €59,105 | -€47,715 | -44.7% |
| Income taxes | 67/77 | €30,846 | €17,634 | -€13,213 | -42.8% |
| Profit (loss) for the period | 9904 | €75,973 | €41,471 | -€34,502 | -45.4% |
| Profit (loss) for the period to be appropriated | 9905 | €75,973 | €41,471 | -€34,502 | -45.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.