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CC1125: CC1125 Link Budgetting

Part Number: CC1125

Looking for some help here to understand why we do not achieve the -123dbm sensitivity (for 1.2kHz data rate)

We have a UHF front end chain NF with the below parameters:

Freq Range = 400-450MHz

NF = 3.2dB (including CC1125)

Modulation = 2-GFSK

SNR Requirement = 12dB

Channel Filter = 10kHz

Using the above we should be in the region of -121dBm sensitivity from calculations. In reality (testing our hardware) we are getting -115dBm. Is there anything else I should consider before I look at possible inference in the system?