RLF CONCEPT: 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.
RLF CONCEPT
Largest movements
- Stocks and contracts +€18,810
up €18,810 (+7.2%), from €260,037 to €278,847
- Receivables within one year +€9,163
up €9,163 (+12.2%), from €75,061 to €84,224
of which Trade receivables: +€9,163
- Cash +€4,027
up €4,027 (+816%), from €494 to €4,521
mainly Trade debts (+€24,559) and Net result for the year (+€14,783)
- Trade debts +€24,559
up €24,559 (+59.8%), from €41,053 to €65,612
- Profit (loss) carried forward +€14,783
up €14,783 (+5.9%), from -€249,261 to -€234,478
- Debts after one year -€4,180
no longer reported in 2025 (was €4,180)
- Write-downs -€41,699
no longer reported in 2025 (was €41,699)
- Gross operating margin -€23,684
down €23,684 (-32.1%), from €73,754 to €50,070
- Staff costs -€22,115
down €22,115 (-43.6%), from €50,701 to €28,586
- Financial charges -€1,782
down €1,782 (-47.0%), from €3,793 to €2,011
- Other operating charges +€1,461
up €1,461 (+63.9%), from €2,288 to €3,749
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 | €343,909 | €374,187 | +€30,278 | +8.8% |
| Fixed assets | 21/28 | €8,317 | €6,595 | -€1,723 | -20.7% |
| Tangible fixed assets | 22/27 | €8,317 | €6,595 | -€1,723 | -20.7% |
| Furniture and vehicles | 24 | €8,317 | €6,595 | -€1,723 | -20.7% |
| Current assets | 29/58 | €335,592 | €367,592 | +€32,001 | +9.5% |
| Stocks and contracts in progress | 3 | €260,037 | €278,847 | +€18,810 | +7.2% |
| Stocks | 30/36 | €260,037 | €278,847 | +€18,810 | +7.2% |
| Amounts receivable within one year | 40/41 | €75,061 | €84,224 | +€9,163 | +12.2% |
| Trade receivables | 40 | €74,069 | €83,232 | +€9,163 | +12.4% |
| Other amounts receivable | 41 | €992 | €992 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €494 | €4,521 | +€4,027 | +816% |
| Total equity and liabilities | 10/49 | €343,909 | €374,187 | +€30,278 | +8.8% |
| Equity | 10/15 | -€149,261 | -€134,478 | +€14,783 | +9.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€249,261 | -€234,478 | +€14,783 | +5.9% |
| Amounts payable | 17/49 | €493,170 | €508,665 | +€15,495 | +3.1% |
| Amounts payable after more than one year | 17 | €4,180 | - | -€4,180 | |
| Financial debts | 170/4 | €4,180 | - | -€4,180 | |
| Amounts payable within one year | 42/48 | €488,990 | €508,665 | +€19,675 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €198,030 | €197,557 | -€473 | -0.2% |
| Financial debts | 43 | €19,373 | €16,147 | -€3,225 | -16.6% |
| Credit institutions | 430/8 | €19,373 | €16,147 | -€3,225 | -16.6% |
| Trade debts | 44 | €41,053 | €65,612 | +€24,559 | +59.8% |
| Suppliers | 440/4 | €41,053 | €65,612 | +€24,559 | +59.8% |
| Taxes, remuneration and social security | 45 | €3,358 | €5,581 | +€2,224 | +66.2% |
| Taxes | 450/3 | €1,629 | €1,957 | +€328 | +20.2% |
| Remuneration and social security | 454/9 | €1,729 | €3,624 | +€1,895 | +110% |
| Other amounts payable | 47/48 | €227,178 | €223,768 | -€3,410 | -1.5% |
| Non-recurring operating income | 76A | €3,500 | - | -€3,500 | |
| Remuneration, social security and pensions | 62 | €50,701 | €28,586 | -€22,115 | -43.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €297 | €1,723 | +€1,426 | +481% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €41,699 | - | -€41,699 | |
| Other operating charges | 640/8 | €2,288 | €3,749 | +€1,461 | +63.9% |
| Gross operating margin | 9900 | €73,754 | €50,070 | -€23,684 | -32.1% |
| Operating profit (loss) | 9901 | -€21,230 | €16,012 | +€37,242 | |
| Financial income | 75/76B | - | €782 | +€782 | |
| Recurring financial income | 75 | - | €782 | +€782 | |
| Financial charges | 65/66B | €3,793 | €2,011 | -€1,782 | -47.0% |
| Recurring financial charges | 65 | €3,793 | €2,011 | -€1,782 | -47.0% |
| Profit (loss) for the period before taxes | 9903 | -€25,023 | €14,783 | +€39,806 | |
| Income taxes | 67/77 | €493 | - | -€493 | |
| Profit (loss) for the period | 9904 | -€25,517 | €14,783 | +€40,299 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,517 | €14,783 | +€40,299 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.