Dr. ROXANE ROSSIGNOL: 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.
Dr. ROXANE ROSSIGNOL
Largest movements
- Receivables within one year +€71,041
up €71,041 (+379.0%), from €18,742 to €89,783
of which Other amounts receivable: +€65,234
- Tangible fixed assets -€37,855
down €37,855 (-12.7%), from €297,019 to €259,164
of which Plant, machinery and equipment: -€19,112
- Cash -€27,431
down €27,431 (-15.1%), from €181,637 to €154,206
mainly Receivables within one year (-€71,041) and Debts after one year (-€33,856)
- Reserves +€35,417
up €35,417 (+18.5%), from €191,757 to €227,174
- Debts after one year -€33,856
down €33,856 (-14.2%), from €238,627 to €204,771
- Other debts -€5,939
down €5,939 (-29.0%), from €20,506 to €14,567
- Trade debts +€5,928
up €5,928 (+134.0%), from €4,425 to €10,353
- Depreciation -€8,092
down €8,092 (-17.6%), from €45,947 to €37,855
- Taxes +€2,574
up €2,574 (+20.2%), from €12,769 to €15,342
- Financial charges -€1,564
down €1,564 (-13.9%), from €11,255 to €9,692
- Financial income +€1,233
up €1,233 (+5965.4%), from €21 to €1,254
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.
Cash bridge derived
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 | €501,803 | €506,898 | +€5,095 | +1.0% |
| Fixed assets | 21/28 | €297,019 | €259,164 | -€37,855 | -12.7% |
| Tangible fixed assets | 22/27 | €297,019 | €259,164 | -€37,855 | -12.7% |
| Land and buildings | 22 | €230,058 | €212,804 | -€17,254 | -7.5% |
| Plant, machinery and equipment | 23 | €60,967 | €41,856 | -€19,112 | -31.3% |
| Furniture and vehicles | 24 | €5,993 | €4,504 | -€1,489 | -24.9% |
| Current assets | 29/58 | €204,785 | €247,735 | +€42,950 | +21.0% |
| Amounts receivable within one year | 40/41 | €18,742 | €89,783 | +€71,041 | +379.0% |
| Trade receivables | 40 | €465 | €6,272 | +€5,807 | +1249.4% |
| Other amounts receivable | 41 | €18,277 | €83,511 | +€65,234 | +356.9% |
| Cash at bank and in hand | 54/58 | €181,637 | €154,206 | -€27,431 | -15.1% |
| Deferred charges and accrued income | 490/1 | €4,406 | €3,746 | -€660 | -15.0% |
| Total equity and liabilities | 10/49 | €501,803 | €506,898 | +€5,095 | +1.0% |
| Equity | 10/15 | €204,157 | €239,574 | +€35,417 | +17.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €191,757 | €227,174 | +€35,417 | +18.5% |
| Distributable reserves | 133 | €191,757 | €227,174 | +€35,417 | +18.5% |
| Amounts payable | 17/49 | €297,647 | €267,325 | -€30,322 | -10.2% |
| Amounts payable after more than one year | 17 | €238,627 | €204,771 | -€33,856 | -14.2% |
| Financial debts | 170/4 | €238,627 | €204,771 | -€33,856 | -14.2% |
| Amounts payable within one year | 42/48 | €57,726 | €59,119 | +€1,393 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €32,795 | €33,856 | +€1,061 | +3.2% |
| Trade debts | 44 | €4,425 | €10,353 | +€5,928 | +134.0% |
| Suppliers | 440/4 | €4,425 | €10,353 | +€5,928 | +134.0% |
| Taxes, remuneration and social security | 45 | - | €342 | +€342 | |
| Taxes | 450/3 | - | €342 | +€342 | |
| Other amounts payable | 47/48 | €20,506 | €14,567 | -€5,939 | -29.0% |
| Accrued charges and deferred income | 492/3 | €1,293 | €3,435 | +€2,142 | +165.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,947 | €37,855 | -€8,092 | -17.6% |
| Other operating charges | 640/8 | €4,777 | €5,037 | +€259 | +5.4% |
| Non-recurring operating charges | 66A | €20 | - | -€20 | |
| Gross operating margin | 9900 | €103,644 | €102,889 | -€756 | -0.7% |
| Operating profit (loss) | 9901 | €52,900 | €59,997 | +€7,097 | +13.4% |
| Financial income | 75/76B | €21 | €1,254 | +€1,233 | +5965.4% |
| Recurring financial income | 75 | €21 | €1,254 | +€1,233 | +5965.4% |
| Financial charges | 65/66B | €11,255 | €9,692 | -€1,564 | -13.9% |
| Recurring financial charges | 65 | €11,255 | €9,692 | -€1,564 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €41,665 | €51,559 | +€9,894 | +23.7% |
| Income taxes | 67/77 | €12,769 | €15,342 | +€2,574 | +20.2% |
| Profit (loss) for the period | 9904 | €28,896 | €36,217 | +€7,320 | +25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,896 | €36,217 | +€7,320 | +25.3% |
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 11 October 2026 via checked.be.