C. ROCHA: 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.
C. ROCHA
Largest movements
- Tangible fixed assets +€80,900
up €80,900 (+20.2%), from €400,341 to €481,241
of which Leasing and similar rights: +€94,105
- Receivables within one year +€33,863
up €33,863 (+15.6%), from €216,570 to €250,433
of which Trade receivables: +€35,952
- Intangible fixed assets -€15,000
down €15,000 (-25.0%), from €60,000 to €45,000
- Advances received +€37,825
up €37,825 (+26.3%), from €143,649 to €181,474
- Debts after one year +€36,018
up €36,018 (+12.8%), from €280,535 to €316,553
- Current portion of long-term debt +€24,803
up €24,803 (+156.7%), from €15,824 to €40,627
- Other debts -€16,186
down €16,186 (-10.3%), from €156,969 to €140,783
- Profit (loss) carried forward +€15,988
up €15,988 (+67.7%), from €23,619 to €39,607
- Depreciation +€24,780
up €24,780 (+82.4%), from €30,057 to €54,837
- Financial charges -€13,210
down €13,210 (-45.5%), from €29,030 to €15,820
- Gross operating margin -€12,743
down €12,743 (-12.2%), from €104,581 to €91,838
- Taxes +€1,961
new in 2025: €1,961
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 | €686,729 | €780,265 | +€93,536 | +13.6% |
| Fixed assets | 21/28 | €460,341 | €526,241 | +€65,900 | +14.3% |
| Intangible fixed assets | 21 | €60,000 | €45,000 | -€15,000 | -25.0% |
| Tangible fixed assets | 22/27 | €400,341 | €481,241 | +€80,900 | +20.2% |
| Land and buildings | 22 | €379,740 | €367,523 | -€12,217 | -3.2% |
| Furniture and vehicles | 24 | €10,108 | €10,059 | -€49 | -0.5% |
| Leasing and similar rights | 25 | - | €94,105 | +€94,105 | |
| Other tangible fixed assets | 26 | €10,493 | €9,554 | -€939 | -8.9% |
| Current assets | 29/58 | €226,388 | €254,024 | +€27,636 | +12.2% |
| Stocks and contracts in progress | 3 | €344 | €967 | +€623 | +181.1% |
| Stocks | 30/36 | - | €967 | +€967 | |
| Contracts in progress | 37 | €344 | - | -€344 | |
| Amounts receivable within one year | 40/41 | €216,570 | €250,433 | +€33,863 | +15.6% |
| Trade receivables | 40 | €212,560 | €248,512 | +€35,952 | +16.9% |
| Other amounts receivable | 41 | €4,010 | €1,921 | -€2,089 | -52.1% |
| Cash at bank and in hand | 54/58 | €7,341 | - | -€7,341 | |
| Deferred charges and accrued income | 490/1 | €2,133 | €2,624 | +€491 | +23.0% |
| Total equity and liabilities | 10/49 | €686,729 | €780,265 | +€93,536 | +13.6% |
| Equity | 10/15 | €42,219 | €58,207 | +€15,988 | +37.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,619 | €39,607 | +€15,988 | +67.7% |
| Amounts payable | 17/49 | €644,510 | €722,058 | +€77,548 | +12.0% |
| Amounts payable after more than one year | 17 | €280,535 | €316,553 | +€36,018 | +12.8% |
| Financial debts | 170/4 | €280,535 | €316,553 | +€36,018 | +12.8% |
| Amounts payable within one year | 42/48 | €363,975 | €405,505 | +€41,530 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €15,824 | €40,627 | +€24,803 | +156.7% |
| Financial debts | 43 | - | €2,535 | +€2,535 | |
| Credit institutions | 430/8 | - | €2,535 | +€2,535 | |
| Trade debts | 44 | €47,533 | €40,086 | -€7,447 | -15.7% |
| Suppliers | 440/4 | €47,533 | €40,086 | -€7,447 | -15.7% |
| Advances received on contracts in progress | 46 | €143,649 | €181,474 | +€37,825 | +26.3% |
| Other amounts payable | 47/48 | €156,969 | €140,783 | -€16,186 | -10.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,057 | €54,837 | +€24,780 | +82.4% |
| Other operating charges | 640/8 | €3,565 | €3,232 | -€333 | -9.3% |
| Gross operating margin | 9900 | €104,581 | €91,838 | -€12,743 | -12.2% |
| Operating profit (loss) | 9901 | €70,959 | €33,769 | -€37,190 | -52.4% |
| Financial charges | 65/66B | €29,030 | €15,820 | -€13,210 | -45.5% |
| Recurring financial charges | 65 | €29,030 | €15,820 | -€13,210 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | €41,929 | €17,949 | -€23,980 | -57.2% |
| Income taxes | 67/77 | - | €1,961 | +€1,961 | |
| Profit (loss) for the period | 9904 | €41,929 | €15,988 | -€25,941 | -61.9% |
| Profit (loss) for the period to be appropriated | 9905 | €41,929 | €15,988 | -€25,941 | -61.9% |
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.