COURS ROUSSEAU: 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.
COURS ROUSSEAU
Largest movements
- Tangible fixed assets -€83,371
down €83,371 (-7.9%), from €1.1m to €969,042
of which Land and buildings: -€76,492
- Cash -€24,344
down €24,344 (-13.8%), from €176,688 to €152,344
mainly Other debts (-€44,026) and Net result for the year (-€37,771)
- Other debts -€44,026
down €44,026 (-5.2%), from €851,285 to €807,259
- Profit (loss) carried forward -€37,771
down €37,771 (-140%), from -€26,930 to -€64,701
- Debts after one year -€16,707
down €16,707 (-11.0%), from €152,488 to €135,781
of which Financial debts: -€16,547
- Gross operating margin +€13,621
up €13,621 (+11.9%), from €114,816 to €128,437
- Other operating charges +€8,020
up €8,020 (+104%), from €7,680 to €15,700
- Depreciation +€7,663
up €7,663 (+8.8%), from €86,871 to €94,534
- Financial charges +€6,836
new in 2025: €6,836
- Financial income -€4,000
no longer reported in 2025 (was €4,000)
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 | €1,251,182 | €1,134,732 | -€116,450 | -9.3% |
| Fixed assets | 21/28 | €1,052,744 | €969,373 | -€83,371 | -7.9% |
| Tangible fixed assets | 22/27 | €1,052,413 | €969,042 | -€83,371 | -7.9% |
| Land and buildings | 22 | €983,505 | €907,013 | -€76,492 | -7.8% |
| Plant, machinery and equipment | 23 | €26,510 | €51,717 | +€25,207 | +95.1% |
| Furniture and vehicles | 24 | €42,398 | €10,312 | -€32,086 | -75.7% |
| Financial fixed assets | 28 | €331 | €331 | = | 0.0% |
| Current assets | 29/58 | €198,438 | €165,359 | -€33,079 | -16.7% |
| Stocks and contracts in progress | 3 | €4,664 | €3,339 | -€1,325 | -28.4% |
| Stocks | 30/36 | €4,664 | €3,339 | -€1,325 | -28.4% |
| Amounts receivable within one year | 40/41 | €7,700 | €589 | -€7,111 | -92.4% |
| Trade receivables | 40 | - | €295 | +€295 | |
| Other amounts receivable | 41 | €7,700 | €294 | -€7,406 | -96.2% |
| Cash at bank and in hand | 54/58 | €176,688 | €152,344 | -€24,344 | -13.8% |
| Deferred charges and accrued income | 490/1 | €9,386 | €9,087 | -€299 | -3.2% |
| Total equity and liabilities | 10/49 | €1,251,182 | €1,134,732 | -€116,450 | -9.3% |
| Equity | 10/15 | €200,233 | €162,462 | -€37,771 | -18.9% |
| Contributions | 10/11 | €116,163 | €116,163 | = | 0.0% |
| Reserves | 13 | €111,000 | €111,000 | = | 0.0% |
| Distributable reserves | 133 | €111,000 | €111,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,930 | -€64,701 | -€37,771 | -140% |
| Provisions and deferred taxes | 16 | €10,100 | €10,100 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,100 | €10,100 | = | 0.0% |
| Major repairs and maintenance | 162 | €10,100 | €10,100 | = | 0.0% |
| Amounts payable | 17/49 | €1,040,849 | €962,170 | -€78,679 | -7.6% |
| Amounts payable after more than one year | 17 | €152,488 | €135,781 | -€16,707 | -11.0% |
| Financial debts | 170/4 | €133,769 | €117,222 | -€16,547 | -12.4% |
| Other amounts payable | 178/9 | €18,719 | €18,559 | -€160 | -0.9% |
| Amounts payable within one year | 42/48 | €885,491 | €825,306 | -€60,185 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €17,048 | €16,547 | -€501 | -2.9% |
| Financial debts | 43 | €10,056 | - | -€10,056 | |
| Credit institutions | 430/8 | €10,056 | - | -€10,056 | |
| Trade debts | 44 | €5,124 | €1,500 | -€3,624 | -70.7% |
| Suppliers | 440/4 | €5,124 | €1,500 | -€3,624 | -70.7% |
| Taxes, remuneration and social security | 45 | €1,978 | - | -€1,978 | |
| Remuneration and social security | 454/9 | €1,978 | - | -€1,978 | |
| Other amounts payable | 47/48 | €851,285 | €807,259 | -€44,026 | -5.2% |
| Accrued charges and deferred income | 492/3 | €2,870 | €1,083 | -€1,787 | -62.3% |
| Remuneration, social security and pensions | 62 | €46,575 | €49,138 | +€2,563 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,871 | €94,534 | +€7,663 | +8.8% |
| Other operating charges | 640/8 | €7,680 | €15,700 | +€8,020 | +104% |
| Gross operating margin | 9900 | €114,816 | €128,437 | +€13,621 | +11.9% |
| Operating profit (loss) | 9901 | -€26,310 | -€30,935 | -€4,625 | -17.6% |
| Financial income | 75/76B | €4,000 | - | -€4,000 | |
| Recurring financial income | 75 | €4,000 | - | -€4,000 | |
| Financial charges | 65/66B | - | €6,836 | +€6,836 | |
| Recurring financial charges | 65 | - | €6,836 | +€6,836 | |
| Profit (loss) for the period before taxes | 9903 | -€22,310 | -€37,771 | -€15,461 | -69.3% |
| Profit (loss) for the period | 9904 | -€22,310 | -€37,771 | -€15,461 | -69.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,310 | -€37,771 | -€15,461 | -69.3% |
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 28 October 2026 via checked.be.