RPHI MANAGEMENT: 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.
RPHI MANAGEMENT
Largest movements
- Cash -€71,416
down €71,416 (-39.7%), from €179,955 to €108,540
mainly Tax, wage and social debts (-€37,689) and Net result for the year (-€26,848)
- Receivables within one year +€10,396
up €10,396 (+49.1%), from €21,194 to €31,590
- Deferred charges and accrued income -€2,186
down €2,186 (-51.4%), from €4,254 to €2,068
- Tax, wage and social debts -€37,689
down €37,689 (-76.0%), from €49,605 to €11,917
- Profit (loss) carried forward -€26,848
down €26,848, from €13,383 to -€13,465
- Other debts +€4,351
up €4,351 (+77.5%), from €5,613 to €9,964
- Accrued charges and deferred income -€3,300
no longer reported in 2025 (was €3,300)
- Gross operating margin -€108,341
down €108,341, from €84,582 to -€23,759
- Taxes -€28,095
down €28,095, from €27,870 to -€225
- Other operating charges +€1,416
up €1,416 (+90.3%), from €1,567 to €2,983
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 | €205,730 | €142,245 | -€63,485 | -30.9% |
| Formation expenses | 20 | €327 | €47 | -€280 | -85.7% |
| Current assets | 29/58 | €205,403 | €142,198 | -€63,205 | -30.8% |
| Amounts receivable within one year | 40/41 | €21,194 | €31,590 | +€10,396 | +49.1% |
| Trade receivables | 40 | €21,194 | €31,590 | +€10,396 | +49.1% |
| Cash at bank and in hand | 54/58 | €179,955 | €108,540 | -€71,416 | -39.7% |
| Deferred charges and accrued income | 490/1 | €4,254 | €2,068 | -€2,186 | -51.4% |
| Total equity and liabilities | 10/49 | €205,730 | €142,245 | -€63,485 | -30.9% |
| Equity | 10/15 | €147,212 | €120,364 | -€26,848 | -18.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €131,329 | €131,329 | = | 0.0% |
| Distributable reserves | 133 | €131,329 | €131,329 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,383 | -€13,465 | -€26,848 | |
| Amounts payable | 17/49 | €58,518 | €21,881 | -€36,637 | -62.6% |
| Amounts payable within one year | 42/48 | €55,218 | €21,881 | -€33,337 | -60.4% |
| Taxes, remuneration and social security | 45 | €49,605 | €11,917 | -€37,689 | -76.0% |
| Taxes | 450/3 | €49,605 | €11,917 | -€37,689 | -76.0% |
| Other amounts payable | 47/48 | €5,613 | €9,964 | +€4,351 | +77.5% |
| Accrued charges and deferred income | 492/3 | €3,300 | - | -€3,300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €690 | €280 | -€410 | -59.4% |
| Other operating charges | 640/8 | €1,567 | €2,983 | +€1,416 | +90.3% |
| Gross operating margin | 9900 | €84,582 | -€23,759 | -€108,341 | |
| Operating profit (loss) | 9901 | €82,326 | -€27,022 | -€109,347 | |
| Financial income | 75/76B | €32 | €15 | -€17 | -54.3% |
| Recurring financial income | 75 | €32 | €15 | -€17 | -54.3% |
| Financial charges | 65/66B | €84 | €66 | -€18 | -21.5% |
| Recurring financial charges | 65 | €84 | €66 | -€18 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €82,273 | -€27,073 | -€109,346 | |
| Income taxes | 67/77 | €27,870 | -€225 | -€28,095 | |
| Profit (loss) for the period | 9904 | €54,404 | -€26,848 | -€81,251 | |
| Profit (loss) for the period to be appropriated | 9905 | €54,404 | -€26,848 | -€81,251 |
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 3 October 2026 via checked.be.