DAVY ROEGIERS: 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.
DAVY ROEGIERS
Largest movements
- Tangible fixed assets +€74,669
up €74,669 (+28.3%), from €263,849 to €338,517
of which Furniture and vehicles: +€75,889
- Receivables within one year +€6,696
up €6,696 (+19.1%), from €35,093 to €41,789
of which Other amounts receivable: +€4,851
- Cash -€5,822
down €5,822 (-14.1%), from €41,264 to €35,442
mainly Investment in fixed assets (net) (-€98,318) and Contributions, distributions and other (-€58,824)
- Deferred charges and accrued income -€4,995
down €4,995 (-94.6%), from €5,278 to €283
- Other debts +€56,036
up €56,036 (+1,490%), from €3,761 to €59,798
- Debts after one year +€31,398
up €31,398 (+25.9%), from €121,121 to €152,519
- Profit (loss) carried forward -€23,848
down €23,848 (-21.4%), from €111,519 to €87,671
- Current portion of long-term debt +€8,925
up €8,925 (+53.5%), from €16,670 to €25,595
- Depreciation +€14,807
up €14,807 (+167%), from €8,842 to €23,649
- Taxes -€5,961
down €5,961 (-40.6%), from €14,680 to €8,719
- Gross operating margin -€3,214
down €3,214 (-4.2%), from €76,625 to €73,411
- Financial charges +€1,322
up €1,322 (+54.4%), from €2,431 to €3,753
- Other operating charges +€983
up €983 (+150%), from €653 to €1,636
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 | €346,256 | €416,032 | +€69,776 | +20.2% |
| Fixed assets | 21/28 | €263,849 | €338,517 | +€74,669 | +28.3% |
| Tangible fixed assets | 22/27 | €263,849 | €338,517 | +€74,669 | +28.3% |
| Land and buildings | 22 | €254,152 | €248,274 | -€5,878 | -2.3% |
| Plant, machinery and equipment | 23 | - | €4,657 | +€4,657 | |
| Furniture and vehicles | 24 | €9,696 | €85,586 | +€75,889 | +783% |
| Current assets | 29/58 | €82,407 | €77,514 | -€4,893 | -5.9% |
| Amounts receivable after more than one year | 29 | €771 | - | -€771 | |
| Trade receivables | 290 | €771 | - | -€771 | |
| Amounts receivable within one year | 40/41 | €35,093 | €41,789 | +€6,696 | +19.1% |
| Trade receivables | 40 | €31,067 | €32,912 | +€1,845 | +5.9% |
| Other amounts receivable | 41 | €4,026 | €8,877 | +€4,851 | +120% |
| Cash at bank and in hand | 54/58 | €41,264 | €35,442 | -€5,822 | -14.1% |
| Deferred charges and accrued income | 490/1 | €5,278 | €283 | -€4,995 | -94.6% |
| Total equity and liabilities | 10/49 | €346,256 | €416,032 | +€69,776 | +20.2% |
| Equity | 10/15 | €173,979 | €150,131 | -€23,848 | -13.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €43,860 | €43,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €42,000 | €42,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,519 | €87,671 | -€23,848 | -21.4% |
| Amounts payable | 17/49 | €172,276 | €265,901 | +€93,624 | +54.3% |
| Amounts payable after more than one year | 17 | €121,121 | €152,519 | +€31,398 | +25.9% |
| Financial debts | 170/4 | €121,121 | €152,519 | +€31,398 | +25.9% |
| Amounts payable within one year | 42/48 | €51,155 | €113,381 | +€62,226 | +122% |
| Current portion of amounts payable after more than one year | 42 | €16,670 | €25,595 | +€8,925 | +53.5% |
| Financial debts | 43 | €2,935 | €2,322 | -€613 | -20.9% |
| Credit institutions | 430/8 | €2,935 | €2,322 | -€613 | -20.9% |
| Trade debts | 44 | €8,044 | €3,981 | -€4,063 | -50.5% |
| Suppliers | 440/4 | €8,044 | €3,981 | -€4,063 | -50.5% |
| Taxes, remuneration and social security | 45 | €19,744 | €21,686 | +€1,942 | +9.8% |
| Taxes | 450/3 | €12,130 | €18,822 | +€6,692 | +55.2% |
| Remuneration and social security | 454/9 | €7,614 | €2,864 | -€4,751 | -62.4% |
| Other amounts payable | 47/48 | €3,761 | €59,798 | +€56,036 | +1,490% |
| Non-recurring operating income | 76A | - | €10,879 | +€10,879 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,842 | €23,649 | +€14,807 | +167% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €771 | +€771 | |
| Other operating charges | 640/8 | €653 | €1,636 | +€983 | +150% |
| Gross operating margin | 9900 | €76,625 | €73,411 | -€3,214 | -4.2% |
| Operating profit (loss) | 9901 | €67,130 | €47,354 | -€19,776 | -29.5% |
| Financial income | 75/76B | €218 | €93 | -€124 | -57.1% |
| Recurring financial income | 75 | €218 | €93 | -€124 | -57.1% |
| Financial charges | 65/66B | €2,431 | €3,753 | +€1,322 | +54.4% |
| Recurring financial charges | 65 | €2,431 | €3,753 | +€1,322 | +54.4% |
| Profit (loss) for the period before taxes | 9903 | €64,917 | €43,694 | -€21,223 | -32.7% |
| Income taxes | 67/77 | €14,680 | €8,719 | -€5,961 | -40.6% |
| Profit (loss) for the period | 9904 | €50,237 | €34,975 | -€15,262 | -30.4% |
| Profit (loss) for the period to be appropriated | 9905 | €50,237 | €34,975 | -€15,262 | -30.4% |
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 22 October 2026 via checked.be.