CANOE ROSE: 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.
CANOE ROSE
Largest movements
- Receivables within one year -€6,896
down €6,896 (-80.9%), from €8,525 to €1,629
of which Trade receivables: -€5,765
- Tangible fixed assets +€1,319
up €1,319 (+2.2%), from €59,126 to €60,444
of which Plant, machinery and equipment: +€11,101
- Debts after one year -€2,880
no longer reported in 2025 (was €2,880)
- Current portion of long-term debt -€2,766
down €2,766 (-49.0%), from €5,646 to €2,880
- Other debts +€1,930
up €1,930 (+64.1%), from €3,009 to €4,939
- Tax, wage and social debts -€1,748
down €1,748 (-38.4%), from €4,553 to €2,806
- Trade debts +€1,281
up €1,281 (+1,128%), from €114 to €1,395
- Gross operating margin +€682
up €682 (+3.2%), from €21,117 to €21,799
- Depreciation +€666
up €666 (+6.6%), from €10,025 to €10,691
- Financial charges -€301
down €301 (-31.2%), from €965 to €663
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 | €105,472 | €100,215 | -€5,257 | -5.0% |
| Fixed assets | 21/28 | €59,335 | €60,654 | +€1,319 | +2.2% |
| Tangible fixed assets | 22/27 | €59,126 | €60,444 | +€1,319 | +2.2% |
| Land and buildings | 22 | €43,824 | €40,250 | -€3,574 | -8.2% |
| Plant, machinery and equipment | 23 | €45 | €11,146 | +€11,101 | +24,522% |
| Furniture and vehicles | 24 | €15,257 | €9,049 | -€6,208 | -40.7% |
| Financial fixed assets | 28 | €209 | €209 | = | 0.0% |
| Current assets | 29/58 | €46,137 | €39,561 | -€6,576 | -14.3% |
| Amounts receivable within one year | 40/41 | €8,525 | €1,629 | -€6,896 | -80.9% |
| Trade receivables | 40 | €7,350 | €1,585 | -€5,765 | -78.4% |
| Other amounts receivable | 41 | €1,175 | €44 | -€1,131 | -96.3% |
| Cash at bank and in hand | 54/58 | €37,613 | €37,932 | +€320 | +0.9% |
| Total equity and liabilities | 10/49 | €105,472 | €100,215 | -€5,257 | -5.0% |
| Equity | 10/15 | €89,204 | €88,129 | -€1,075 | -1.2% |
| Contributions | 10/11 | €20,596 | €20,596 | = | 0.0% |
| Reserves | 13 | €17,300 | €16,200 | -€1,100 | -6.4% |
| Distributable reserves | 133 | €17,300 | €16,200 | -€1,100 | -6.4% |
| Profit (loss) carried forward | 14 | €51,308 | €51,333 | +€25 | 0.0% |
| Amounts payable | 17/49 | €16,268 | €12,086 | -€4,182 | -25.7% |
| Amounts payable after more than one year | 17 | €2,880 | - | -€2,880 | |
| Financial debts | 170/4 | €2,880 | - | -€2,880 | |
| Amounts payable within one year | 42/48 | €13,322 | €12,019 | -€1,303 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €5,646 | €2,880 | -€2,766 | -49.0% |
| Trade debts | 44 | €114 | €1,395 | +€1,281 | +1,128% |
| Suppliers | 440/4 | €114 | €1,395 | +€1,281 | +1,128% |
| Taxes, remuneration and social security | 45 | €4,553 | €2,806 | -€1,748 | -38.4% |
| Taxes | 450/3 | €4,553 | €2,806 | -€1,748 | -38.4% |
| Other amounts payable | 47/48 | €3,009 | €4,939 | +€1,930 | +64.1% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,025 | €10,691 | +€666 | +6.6% |
| Other operating charges | 640/8 | €3,308 | €3,413 | +€104 | +3.2% |
| Gross operating margin | 9900 | €21,117 | €21,799 | +€682 | +3.2% |
| Operating profit (loss) | 9901 | €7,784 | €7,695 | -€89 | -1.1% |
| Financial income | 75/76B | €196 | €210 | +€14 | +7.1% |
| Recurring financial income | 75 | €196 | €210 | +€14 | +7.1% |
| Financial charges | 65/66B | €965 | €663 | -€301 | -31.2% |
| Recurring financial charges | 65 | €965 | €663 | -€301 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | €7,015 | €7,242 | +€227 | +3.2% |
| Income taxes | 67/77 | €3,643 | €3,517 | -€126 | -3.5% |
| Profit (loss) for the period | 9904 | €3,372 | €3,725 | +€353 | +10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,372 | €3,725 | +€353 | +10.5% |
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 21 October 2026 via checked.be.