DE ROECK: 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.
DE ROECK
Largest movements
- Stocks and contracts +€511,488
up €511,488 (+38.9%), from €1.3m to €1.8m
- Tangible fixed assets +€499,462
up €499,462 (+30.8%), from €1.6m to €2.1m
of which Land and buildings: +€649,028
- Receivables within one year +€115,764
up €115,764 (+147%), from €78,645 to €194,409
of which Trade receivables: +€87,365
- Cash -€45,750
down €45,750 (-79.9%), from €57,259 to €11,509
mainly Investment in fixed assets (net) (-€877,553) and Stocks and contracts (-€511,488)
- Debts after one year +€712,844
up €712,844 (+68.7%), from €1.0m to €1.8m
of which Financial debts: +€789,214
- Trade debts +€506,433
up €506,433 (+283%), from €178,840 to €685,273
- Profit (loss) carried forward -€191,460
new in 2025: -€191,460
- Current portion of long-term debt +€53,733
up €53,733 (+14.1%), from €379,748 to €433,480
- Gross operating margin -€241,562
down €241,562 (-39.7%), from €608,712 to €367,150
- Depreciation +€23,779
up €23,779 (+6.6%), from €359,520 to €383,299
- Financial income +€18,107
up €18,107 (+506%), from €3,581 to €21,688
- Other operating charges +€15,895
up €15,895 (+195%), from €8,159 to €24,054
- Financial charges +€12,185
up €12,185 (+21.9%), from €55,512 to €67,697
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 | €3,102,380 | €4,196,707 | +€1.1m | +35.3% |
| Fixed assets | 21/28 | €1,639,959 | €2,134,212 | +€494,254 | +30.1% |
| Intangible fixed assets | 21 | €11,108 | €5,900 | -€5,208 | -46.9% |
| Tangible fixed assets | 22/27 | €1,622,145 | €2,121,607 | +€499,462 | +30.8% |
| Land and buildings | 22 | €451,150 | €1,100,178 | +€649,028 | +144% |
| Plant, machinery and equipment | 23 | €735,394 | €678,921 | -€56,473 | -7.7% |
| Furniture and vehicles | 24 | €435,602 | €342,508 | -€93,093 | -21.4% |
| Financial fixed assets | 28 | €6,705 | €6,705 | = | 0.0% |
| Current assets | 29/58 | €1,462,421 | €2,062,495 | +€600,074 | +41.0% |
| Stocks and contracts in progress | 3 | €1,315,838 | €1,827,325 | +€511,488 | +38.9% |
| Stocks | 30/36 | €1,315,838 | €1,827,325 | +€511,488 | +38.9% |
| Amounts receivable within one year | 40/41 | €78,645 | €194,409 | +€115,764 | +147% |
| Trade receivables | 40 | €14,322 | €101,688 | +€87,365 | +610% |
| Other amounts receivable | 41 | €64,323 | €92,721 | +€28,398 | +44.2% |
| Cash at bank and in hand | 54/58 | €57,259 | €11,509 | -€45,750 | -79.9% |
| Deferred charges and accrued income | 490/1 | €10,679 | €29,251 | +€18,572 | +174% |
| Total equity and liabilities | 10/49 | €3,102,380 | €4,196,707 | +€1.1m | +35.3% |
| Equity | 10/15 | €723,425 | €530,352 | -€193,072 | -26.7% |
| Contributions | 10/11 | €240,000 | €240,000 | = | 0.0% |
| Reserves | 13 | €476,975 | €476,975 | = | 0.0% |
| Distributable reserves | 133 | €476,975 | €476,975 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€191,460 | -€191,460 | |
| Investment grants | 15 | €6,449 | €4,837 | -€1,612 | -25.0% |
| Provisions and deferred taxes | 16 | €339 | €255 | -€85 | -25.0% |
| Deferred taxes | 168 | €339 | €255 | -€85 | -25.0% |
| Amounts payable | 17/49 | €2,378,616 | €3,666,100 | +€1.3m | +54.1% |
| Amounts payable after more than one year | 17 | €1,038,095 | €1,750,939 | +€712,844 | +68.7% |
| Financial debts | 170/4 | €961,725 | €1,750,939 | +€789,214 | +82.1% |
| Other amounts payable | 178/9 | €76,370 | €0 | -€76,370 | -100% |
| Amounts payable within one year | 42/48 | €1,327,256 | €1,915,161 | +€587,905 | +44.3% |
| Current portion of amounts payable after more than one year | 42 | €379,748 | €433,480 | +€53,733 | +14.1% |
| Trade debts | 44 | €178,840 | €685,273 | +€506,433 | +283% |
| Suppliers | 440/4 | €178,840 | €685,273 | +€506,433 | +283% |
| Taxes, remuneration and social security | 45 | €18,643 | €13,594 | -€5,049 | -27.1% |
| Taxes | 450/3 | €4,173 | €3,741 | -€433 | -10.4% |
| Remuneration and social security | 454/9 | €14,470 | €9,853 | -€4,617 | -31.9% |
| Other amounts payable | 47/48 | €750,025 | €782,814 | +€32,789 | +4.4% |
| Accrued charges and deferred income | 492/3 | €13,264 | €0 | -€13,264 | -100% |
| Non-recurring operating income | 76A | €14,250 | €13,545 | -€705 | -4.9% |
| Remuneration, social security and pensions | 62 | €96,853 | €104,438 | +€7,585 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €359,520 | €383,299 | +€23,779 | +6.6% |
| Other operating charges | 640/8 | €8,159 | €24,054 | +€15,895 | +195% |
| Gross operating margin | 9900 | €608,712 | €367,150 | -€241,562 | -39.7% |
| Operating profit (loss) | 9901 | €144,180 | -€144,641 | -€288,820 | |
| Financial income | 75/76B | €3,581 | €21,688 | +€18,107 | +506% |
| Recurring financial income | 75 | €3,581 | €21,688 | +€18,107 | +506% |
| Financial charges | 65/66B | €55,512 | €67,697 | +€12,185 | +21.9% |
| Recurring financial charges | 65 | €55,512 | €67,697 | +€12,185 | +21.9% |
| Profit (loss) for the period before taxes | 9903 | €92,248 | -€190,650 | -€282,898 | |
| Transfer from deferred taxes | 780 | €85 | €85 | = | 0.0% |
| Income taxes | 67/77 | €85 | €895 | +€810 | +955% |
| Profit (loss) for the period | 9904 | €92,248 | -€191,460 | -€283,708 | |
| Profit (loss) for the period to be appropriated | 9905 | €92,248 | -€191,460 | -€283,708 |
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 16 October 2026 via checked.be.