RIFSTAR: 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.
RIFSTAR
Largest movements
- Tangible fixed assets +€67,829
up €67,829 (+240%), from €28,293 to €96,122
of which Furniture and vehicles: +€72,976
- Receivables within one year +€50,078
up €50,078 (+19.7%), from €254,502 to €304,580
of which Other amounts receivable: +€84,967
- Cash -€12,831
down €12,831 (-4.0%), from €320,371 to €307,540
mainly Investment in fixed assets (net) (-€79,884) and Receivables within one year (-€50,078)
- Profit (loss) carried forward +€78,518
up €78,518 (+17.0%), from €460,981 to €539,499
- Debts after one year +€34,546
new in 2025: €34,546
- Current portion of long-term debt +€33,222
new in 2025: €33,222
- Tax, wage and social debts -€20,389
down €20,389 (-36.7%), from €55,588 to €35,199
of which Taxes: -€19,610
- Trade debts -€14,743
down €14,743 (-20.6%), from €71,459 to €56,716
- Gross operating margin +€104,357
up €104,357 (+41.2%), from €253,274 to €357,631
- Staff costs +€36,185
up €36,185 (+19.1%), from €189,230 to €225,415
- Taxes +€9,435
up €9,435 (+87.4%), from €10,792 to €20,227
- Other operating charges +€5,428
up €5,428 (+420%), from €1,291 to €6,719
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.
Derived cash bridge
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 | €608,488 | €722,897 | +€114,409 | +18.8% |
| Fixed assets | 21/28 | €28,741 | €101,570 | +€72,829 | +253% |
| Tangible fixed assets | 22/27 | €28,293 | €96,122 | +€67,829 | +240% |
| Plant, machinery and equipment | 23 | €4,757 | €2,747 | -€2,010 | -42.3% |
| Furniture and vehicles | 24 | €2,238 | €75,214 | +€72,976 | +3,261% |
| Other tangible fixed assets | 26 | €21,298 | €18,162 | -€3,136 | -14.7% |
| Financial fixed assets | 28 | €448 | €5,448 | +€5,000 | +1,116% |
| Current assets | 29/58 | €579,747 | €621,327 | +€41,580 | +7.2% |
| Stocks and contracts in progress | 3 | €4,046 | €6,230 | +€2,184 | +54.0% |
| Stocks | 30/36 | €4,046 | €6,230 | +€2,184 | +54.0% |
| Amounts receivable within one year | 40/41 | €254,502 | €304,580 | +€50,078 | +19.7% |
| Trade receivables | 40 | €43,496 | €8,607 | -€34,889 | -80.2% |
| Other amounts receivable | 41 | €211,006 | €295,973 | +€84,967 | +40.3% |
| Cash at bank and in hand | 54/58 | €320,371 | €307,540 | -€12,831 | -4.0% |
| Deferred charges and accrued income | 490/1 | €828 | €2,977 | +€2,149 | +260% |
| Total equity and liabilities | 10/49 | €608,488 | €722,897 | +€114,409 | +18.8% |
| Equity | 10/15 | €481,441 | €559,959 | +€78,518 | +16.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €460,981 | €539,499 | +€78,518 | +17.0% |
| Amounts payable | 17/49 | €127,047 | €162,939 | +€35,892 | +28.3% |
| Amounts payable after more than one year | 17 | - | €34,546 | +€34,546 | |
| Financial debts | 170/4 | - | €34,546 | +€34,546 | |
| Amounts payable within one year | 42/48 | €127,047 | €125,137 | -€1,910 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | - | €33,222 | +€33,222 | |
| Trade debts | 44 | €71,459 | €56,716 | -€14,743 | -20.6% |
| Suppliers | 440/4 | €71,459 | €56,716 | -€14,743 | -20.6% |
| Taxes, remuneration and social security | 45 | €55,588 | €35,199 | -€20,389 | -36.7% |
| Taxes | 450/3 | €38,890 | €19,280 | -€19,610 | -50.4% |
| Remuneration and social security | 454/9 | €16,698 | €15,919 | -€779 | -4.7% |
| Accrued charges and deferred income | 492/3 | - | €3,255 | +€3,255 | |
| Remuneration, social security and pensions | 62 | €189,230 | €225,415 | +€36,185 | +19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,007 | €7,055 | +€1,048 | +17.4% |
| Other operating charges | 640/8 | €1,291 | €6,719 | +€5,428 | +420% |
| Gross operating margin | 9900 | €253,274 | €357,631 | +€104,357 | +41.2% |
| Operating profit (loss) | 9901 | €56,746 | €118,442 | +€61,696 | +109% |
| Financial income | 75/76B | €1 | €11 | +€10 | +1,032% |
| Recurring financial income | 75 | €1 | €11 | +€10 | +1,032% |
| Financial charges | 65/66B | €19,103 | €19,708 | +€605 | +3.2% |
| Recurring financial charges | 65 | €19,103 | €19,708 | +€605 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €37,644 | €98,745 | +€61,101 | +162% |
| Income taxes | 67/77 | €10,792 | €20,227 | +€9,435 | +87.4% |
| Profit (loss) for the period | 9904 | €26,852 | €78,518 | +€51,666 | +192% |
| Profit (loss) for the period to be appropriated | 9905 | €26,852 | €78,518 | +€51,666 | +192% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.