Dr. TH. ROLAND: 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. TH. ROLAND
Largest movements
- Current investments -€48,057
down €48,057 (-5.6%), from €853,836 to €805,778
- Cash +€32,998
up €32,998 (+19.9%), from €165,931 to €198,928
mainly Net result for the year (+€203,330) and Current investments (+€48,057)
- Tangible fixed assets -€11,578
down €11,578 (-9.3%), from €124,417 to €112,840
of which Furniture and vehicles: -€5,837
- Reserves -€30,262
down €30,262 (-2.8%), from €1.1m to €1.1m
of which Distributable reserves: -€30,262
- Financial income -€34,693
down €34,693 (-70.9%), from €48,919 to €14,226
- Gross operating margin +€27,716
up €27,716 (+10.3%), from €269,738 to €297,454
- Taxes +€6,513
up €6,513 (+7.9%), from €82,670 to €89,183
- Financial charges +€5,269
up €5,269 (+3,415%), from €154 to €5,423
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 | €1,152,611 | €1,119,270 | -€33,341 | -2.9% |
| Fixed assets | 21/28 | €124,417 | €112,840 | -€11,578 | -9.3% |
| Tangible fixed assets | 22/27 | €124,417 | €112,840 | -€11,578 | -9.3% |
| Land and buildings | 22 | €103,826 | €99,500 | -€4,326 | -4.2% |
| Plant, machinery and equipment | 23 | €1,398 | €932 | -€466 | -33.3% |
| Furniture and vehicles | 24 | €16,349 | €10,511 | -€5,837 | -35.7% |
| Other tangible fixed assets | 26 | €2,845 | €1,896 | -€948 | -33.3% |
| Current assets | 29/58 | €1,028,194 | €1,006,431 | -€21,763 | -2.1% |
| Current investments | 50/53 | €853,836 | €805,778 | -€48,057 | -5.6% |
| Cash at bank and in hand | 54/58 | €165,931 | €198,928 | +€32,998 | +19.9% |
| Deferred charges and accrued income | 490/1 | €8,427 | €1,724 | -€6,703 | -79.5% |
| Total equity and liabilities | 10/49 | €1,152,611 | €1,119,270 | -€33,341 | -2.9% |
| Equity | 10/15 | €1,107,809 | €1,077,548 | -€30,262 | -2.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,082,335 | €1,052,074 | -€30,262 | -2.8% |
| 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 | €1,080,475 | €1,050,214 | -€30,262 | -2.8% |
| Profit (loss) carried forward | 14 | €13,074 | €13,074 | = | 0.0% |
| Amounts payable | 17/49 | €44,802 | €41,723 | -€3,079 | -6.9% |
| Amounts payable within one year | 42/48 | €44,802 | €41,723 | -€3,079 | -6.9% |
| Trade debts | 44 | €3,847 | €3,582 | -€265 | -6.9% |
| Suppliers | 440/4 | €3,847 | €3,582 | -€265 | -6.9% |
| Taxes, remuneration and social security | 45 | €31,670 | €27,057 | -€4,613 | -14.6% |
| Taxes | 450/3 | €22,670 | €18,057 | -€4,613 | -20.3% |
| Remuneration and social security | 454/9 | €9,000 | €9,000 | = | 0.0% |
| Other amounts payable | 47/48 | €9,284 | €11,084 | +€1,800 | +19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,787 | €11,578 | -€209 | -1.8% |
| Other operating charges | 640/8 | €1,517 | €2,166 | +€648 | +42.7% |
| Gross operating margin | 9900 | €269,738 | €297,454 | +€27,716 | +10.3% |
| Operating profit (loss) | 9901 | €256,434 | €283,711 | +€27,277 | +10.6% |
| Financial income | 75/76B | €48,919 | €14,226 | -€34,693 | -70.9% |
| Recurring financial income | 75 | €48,919 | €14,226 | -€34,693 | -70.9% |
| Financial charges | 65/66B | €154 | €5,423 | +€5,269 | +3,415% |
| Recurring financial charges | 65 | €154 | €5,423 | +€5,269 | +3,415% |
| Profit (loss) for the period before taxes | 9903 | €305,199 | €292,514 | -€12,685 | -4.2% |
| Income taxes | 67/77 | €82,670 | €89,183 | +€6,513 | +7.9% |
| Profit (loss) for the period | 9904 | €222,528 | €203,330 | -€19,198 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €222,528 | €203,330 | -€19,198 | -8.6% |
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 21 October 2026 via checked.be.