RTF HOLDING: 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.
RTF HOLDING
Largest movements
- Current investments -€180,000
down €180,000 (-100%), from €180,000 to €0
- Cash +€89,074
up €89,074 (+224%), from €39,809 to €128,882
mainly Net result for the year (+€292,702) and Current investments (+€180,000)
- Other debts -€362,961
down €362,961 (-90.8%), from €399,621 to €36,660
- Reserves +€292,702
up €292,702 (+7.6%), from €3.9m to €4.2m
- Financial income +€56,091
up €56,091 (+27.4%), from €204,817 to €260,909
- Staff costs -€19,652
down €19,652 (-6.8%), from €290,295 to €270,643
- Depreciation +€10,794
up €10,794 (+74.4%), from €14,499 to €25,294
- Taxes +€7,934
up €7,934 (+17.4%), from €45,541 to €53,475
- Financial charges -€7,163
down €7,163 (-47.1%), from €15,213 to €8,050
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 | €5,424,306 | €5,330,523 | -€93,783 | -1.7% |
| Fixed assets | 21/28 | €5,122,155 | €5,116,361 | -€5,794 | -0.1% |
| Tangible fixed assets | 22/27 | €98,227 | €72,933 | -€25,294 | -25.8% |
| Furniture and vehicles | 24 | €98,227 | €72,933 | -€25,294 | -25.8% |
| Financial fixed assets | 28 | €5,023,928 | €5,043,428 | +€19,500 | +0.4% |
| Current assets | 29/58 | €302,151 | €214,162 | -€87,989 | -29.1% |
| Amounts receivable within one year | 40/41 | €79,860 | €82,102 | +€2,242 | +2.8% |
| Trade receivables | 40 | €79,860 | €79,860 | = | 0.0% |
| Other amounts receivable | 41 | - | €2,242 | +€2,242 | |
| Current investments | 50/53 | €180,000 | €0 | -€180,000 | -100% |
| Cash at bank and in hand | 54/58 | €39,809 | €128,882 | +€89,074 | +224% |
| Deferred charges and accrued income | 490/1 | €2,482 | €3,178 | +€696 | +28.0% |
| Total equity and liabilities | 10/49 | €5,424,306 | €5,330,523 | -€93,783 | -1.7% |
| Equity | 10/15 | €4,851,003 | €5,143,705 | +€292,702 | +6.0% |
| Contributions | 10/11 | €992,000 | €992,000 | = | 0.0% |
| Reserves | 13 | €3,859,003 | €4,151,705 | +€292,702 | +7.6% |
| Distributable reserves | 133 | €3,859,003 | €4,151,705 | +€292,702 | +7.6% |
| Amounts payable | 17/49 | €573,302 | €186,818 | -€386,485 | -67.4% |
| Amounts payable after more than one year | 17 | €55,565 | €35,209 | -€20,357 | -36.6% |
| Financial debts | 170/4 | €55,565 | €35,209 | -€20,357 | -36.6% |
| Amounts payable within one year | 42/48 | €517,109 | €151,609 | -€365,501 | -70.7% |
| Current portion of amounts payable after more than one year | 42 | €19,622 | €20,357 | +€735 | +3.7% |
| Trade debts | 44 | €1,231 | €2,984 | +€1,752 | +142% |
| Suppliers | 440/4 | €1,231 | €2,984 | +€1,752 | +142% |
| Taxes, remuneration and social security | 45 | €96,635 | €91,609 | -€5,027 | -5.2% |
| Taxes | 450/3 | €53,886 | €68,650 | +€14,763 | +27.4% |
| Remuneration and social security | 454/9 | €42,749 | €22,959 | -€19,790 | -46.3% |
| Other amounts payable | 47/48 | €399,621 | €36,660 | -€362,961 | -90.8% |
| Accrued charges and deferred income | 492/3 | €627 | €0 | -€627 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €290,295 | €270,643 | -€19,652 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,499 | €25,294 | +€10,794 | +74.4% |
| Other operating charges | 640/8 | €1,072 | €1,109 | +€37 | +3.4% |
| Gross operating margin | 9900 | €394,528 | €390,363 | -€4,165 | -1.1% |
| Operating profit (loss) | 9901 | €88,662 | €93,318 | +€4,656 | +5.3% |
| Financial income | 75/76B | €204,817 | €260,909 | +€56,091 | +27.4% |
| Recurring financial income | 75 | €204,817 | €260,909 | +€56,091 | +27.4% |
| Financial charges | 65/66B | €15,213 | €8,050 | -€7,163 | -47.1% |
| Recurring financial charges | 65 | €15,213 | €8,050 | -€7,163 | -47.1% |
| Profit (loss) for the period before taxes | 9903 | €278,266 | €346,177 | +€67,911 | +24.4% |
| Income taxes | 67/77 | €45,541 | €53,475 | +€7,934 | +17.4% |
| Profit (loss) for the period | 9904 | €232,725 | €292,702 | +€59,977 | +25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €232,725 | €292,702 | +€59,977 | +25.8% |
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 28 October 2026 via checked.be.