Cédric Rober: 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.
Cédric Rober
Largest movements
- Tangible fixed assets -€12,902
down €12,902 (-38.9%), from €33,132 to €20,230
of which Plant, machinery and equipment: -€9,443
- Cash +€4,149
up €4,149 (+22.7%), from €18,278 to €22,427
mainly Depreciation (+€12,902) and Net result for the year (+€3,027)
- Deferred charges and accrued income +€2,503
up €2,503 (+240%), from €1,042 to €3,545
- Stocks and contracts +€1,639
new in 2025: €1,639
- Receivables within one year +€1,239
up €1,239 (+69.4%), from €1,784 to €3,023
- Profit (loss) carried forward +€3,027
up €3,027 (+38.0%), from -€7,974 to -€4,947
- Accrued charges and deferred income -€2,319
down €2,319 (-86.4%), from €2,683 to €364
- Trade debts -€1,935
down €1,935 (-80.1%), from €2,415 to €480
- Debts after one year -€1,857
down €1,857 (-41.4%), from €4,483 to €2,626
- Gross operating margin +€18,007
up €18,007 (+6,281%), from €287 to €18,294
- Taxes +€456
up €456 (+306%), from €149 to €605
- Other operating charges +€423
up €423 (+61.2%), from €691 to €1,114
- Financial charges +€268
up €268 (+70.7%), from €379 to €647
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 | €54,295 | €50,924 | -€3,372 | -6.2% |
| Fixed assets | 21/28 | €33,192 | €20,290 | -€12,902 | -38.9% |
| Tangible fixed assets | 22/27 | €33,132 | €20,230 | -€12,902 | -38.9% |
| Plant, machinery and equipment | 23 | €22,217 | €12,774 | -€9,443 | -42.5% |
| Furniture and vehicles | 24 | €10,915 | €7,457 | -€3,458 | -31.7% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €21,103 | €30,633 | +€9,530 | +45.2% |
| Stocks and contracts in progress | 3 | - | €1,639 | +€1,639 | |
| Stocks | 30/36 | - | €1,639 | +€1,639 | |
| Amounts receivable within one year | 40/41 | €1,784 | €3,023 | +€1,239 | +69.4% |
| Other amounts receivable | 41 | €1,784 | €3,023 | +€1,239 | +69.4% |
| Cash at bank and in hand | 54/58 | €18,278 | €22,427 | +€4,149 | +22.7% |
| Deferred charges and accrued income | 490/1 | €1,042 | €3,545 | +€2,503 | +240% |
| Total equity and liabilities | 10/49 | €54,295 | €50,924 | -€3,372 | -6.2% |
| Equity | 10/15 | €11,526 | €14,553 | +€3,027 | +26.3% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €16,000 | €16,000 | = | 0.0% |
| Distributable reserves | 133 | €16,000 | €16,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,974 | -€4,947 | +€3,027 | +38.0% |
| Amounts payable | 17/49 | €42,769 | €36,370 | -€6,398 | -15.0% |
| Amounts payable after more than one year | 17 | €4,483 | €2,626 | -€1,857 | -41.4% |
| Financial debts | 170/4 | €4,483 | €2,626 | -€1,857 | -41.4% |
| Amounts payable within one year | 42/48 | €35,604 | €33,381 | -€2,223 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €1,909 | €1,857 | -€52 | -2.7% |
| Trade debts | 44 | €2,415 | €480 | -€1,935 | -80.1% |
| Suppliers | 440/4 | €2,415 | €480 | -€1,935 | -80.1% |
| Taxes, remuneration and social security | 45 | €2,905 | €2,669 | -€236 | -8.1% |
| Taxes | 450/3 | €905 | €669 | -€236 | -26.0% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €28,375 | €28,375 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,683 | €364 | -€2,319 | -86.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,918 | €12,902 | -€16 | -0.1% |
| Other operating charges | 640/8 | €691 | €1,114 | +€423 | +61.2% |
| Gross operating margin | 9900 | €287 | €18,294 | +€18,007 | +6,281% |
| Operating profit (loss) | 9901 | -€13,322 | €4,278 | +€17,600 | |
| Financial income | 75/76B | €23 | €1 | -€22 | -97.1% |
| Recurring financial income | 75 | €23 | €1 | -€22 | -97.1% |
| Financial charges | 65/66B | €379 | €647 | +€268 | +70.7% |
| Recurring financial charges | 65 | €379 | €647 | +€268 | +70.7% |
| Profit (loss) for the period before taxes | 9903 | -€13,678 | €3,631 | +€17,310 | |
| Income taxes | 67/77 | €149 | €605 | +€456 | +306% |
| Profit (loss) for the period | 9904 | -€13,827 | €3,027 | +€16,854 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,827 | €3,027 | +€16,854 |
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 15 October 2026 via checked.be.