RF Projects: what changed
RF Projects
Largest movements
- Tangible fixed assets -€10,037
down €10,037 (-23.4%), from €42,847 to €32,809
of which Leasing and similar rights: -€9,773
- Receivables within one year -€8,004
down €8,004 (-59.6%), from €13,427 to €5,424
of which Other amounts receivable: -€4,204
- Cash -€2,145
down €2,145 (-88.2%), from €2,432 to €287
mainly Debts after one year (-€20,810) and Net result for the year (-€7,558)
- Deferred charges and accrued income +€1,674
up €1,674 (+4,805%), from €35 to €1,709
- Debts after one year -€20,810
down €20,810 (-40.6%), from €51,215 to €30,405
- Profit (loss) carried forward -€7,558
down €7,558 (-15.7%), from -€48,061 to -€55,619
- Trade debts +€3,404
up €3,404 (+153%), from €2,231 to €5,635
- Tax, wage and social debts +€2,346
new in 2023: €2,346
of which Remuneration and social security: +€2,130
- Other debts +€2,094
new in 2023: €2,094
- Gross operating margin -€7,314
down €7,314 (-51.1%), from €14,319 to €7,005
- Depreciation +€3,481
up €3,481 (+53.1%), from €6,557 to €10,037
- Financial charges -€2,717
down €2,717 (-45.5%), from €5,971 to €3,254
- Other operating charges -€329
down €329 (-20.6%), from €1,601 to €1,271
- Financial income -€241
no longer reported in 2023 (was €241)
Change in the result, 2022 to 2023
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2022 and 2023 balance sheets and the 2023 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,741 | €40,229 | -€18,512 | -31.5% |
| Fixed assets | 21/28 | €42,847 | €32,809 | -€10,037 | -23.4% |
| Tangible fixed assets | 22/27 | €42,847 | €32,809 | -€10,037 | -23.4% |
| Furniture and vehicles | 24 | €274 | €10 | -€264 | -96.4% |
| Leasing and similar rights | 25 | €42,572 | €32,799 | -€9,773 | -23.0% |
| Current assets | 29/58 | €15,894 | €7,419 | -€8,475 | -53.3% |
| Amounts receivable within one year | 40/41 | €13,427 | €5,424 | -€8,004 | -59.6% |
| Trade receivables | 40 | €8,343 | €4,543 | -€3,800 | -45.5% |
| Other amounts receivable | 41 | €5,084 | €880 | -€4,204 | -82.7% |
| Cash at bank and in hand | 54/58 | €2,432 | €287 | -€2,145 | -88.2% |
| Deferred charges and accrued income | 490/1 | €35 | €1,709 | +€1,674 | +4,805% |
| Total equity and liabilities | 10/49 | €58,741 | €40,229 | -€18,512 | -31.5% |
| Equity | 10/15 | -€20,109 | -€27,667 | -€7,558 | -37.6% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €15,952 | €15,952 | = | 0.0% |
| Distributable reserves | 133 | €15,952 | €15,952 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,061 | -€55,619 | -€7,558 | -15.7% |
| Amounts payable | 17/49 | €78,850 | €67,896 | -€10,954 | -13.9% |
| Amounts payable after more than one year | 17 | €51,215 | €30,405 | -€20,810 | -40.6% |
| Financial debts | 170/4 | €51,215 | €30,405 | -€20,810 | -40.6% |
| Amounts payable within one year | 42/48 | €23,859 | €33,715 | +€9,856 | +41.3% |
| Current portion of amounts payable after more than one year | 42 | €21,628 | €23,640 | +€2,012 | +9.3% |
| Trade debts | 44 | €2,231 | €5,635 | +€3,404 | +153% |
| Suppliers | 440/4 | €2,231 | €5,635 | +€3,404 | +153% |
| Taxes, remuneration and social security | 45 | - | €2,346 | +€2,346 | |
| Taxes | 450/3 | - | €216 | +€216 | |
| Remuneration and social security | 454/9 | - | €2,130 | +€2,130 | |
| Other amounts payable | 47/48 | - | €2,094 | +€2,094 | |
| Accrued charges and deferred income | 492/3 | €3,776 | €3,776 | = | 0.0% |
| Non-recurring operating income | 76A | €4,094 | - | -€4,094 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,557 | €10,037 | +€3,481 | +53.1% |
| Other operating charges | 640/8 | €1,601 | €1,271 | -€329 | -20.6% |
| Gross operating margin | 9900 | €14,319 | €7,005 | -€7,314 | -51.1% |
| Operating profit (loss) | 9901 | €6,161 | -€4,304 | -€10,465 | |
| Financial income | 75/76B | €241 | - | -€241 | |
| Recurring financial income | 75 | €241 | - | -€241 | |
| Financial charges | 65/66B | €5,971 | €3,254 | -€2,717 | -45.5% |
| Recurring financial charges | 65 | €5,971 | €3,254 | -€2,717 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | €431 | -€7,558 | -€7,989 | |
| Profit (loss) for the period | 9904 | €431 | -€7,558 | -€7,989 | |
| Profit (loss) for the period to be appropriated | 9905 | €431 | -€7,558 | -€7,989 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.