EL ROJO MANAGEMENT: 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.
EL ROJO MANAGEMENT
Largest movements
- Current investments -€600,000
down €600,000 (-100%), from €600,000 to €0
- Cash +€89,684
up €89,684 (+153%), from €58,540 to €148,224
mainly Current investments (+€600,000) and Net result for the year (+€235,603)
- Receivables within one year +€35,000
up €35,000 (+53.8%), from €65,000 to €100,000
- Reserves -€423,324
down €423,324 (-64.2%), from €658,926 to €235,603
- Tax, wage and social debts -€57,620
down €57,620 (-74.2%), from €77,707 to €20,087
- Gross operating margin +€30,905
up €30,905 (+11.4%), from €271,396 to €302,300
- Taxes +€8,123
up €8,123 (+12.4%), from €65,453 to €73,576
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 | €744,822 | €264,837 | -€479,986 | -64.4% |
| Fixed assets | 21/28 | €17,783 | €12,887 | -€4,897 | -27.5% |
| Tangible fixed assets | 22/27 | €17,783 | €12,887 | -€4,897 | -27.5% |
| Furniture and vehicles | 24 | €17,783 | €12,887 | -€4,897 | -27.5% |
| Current assets | 29/58 | €727,039 | €251,950 | -€475,089 | -65.3% |
| Amounts receivable within one year | 40/41 | €65,000 | €100,000 | +€35,000 | +53.8% |
| Trade receivables | 40 | €65,000 | €100,000 | +€35,000 | +53.8% |
| Current investments | 50/53 | €600,000 | €0 | -€600,000 | -100% |
| Cash at bank and in hand | 54/58 | €58,540 | €148,224 | +€89,684 | +153% |
| Deferred charges and accrued income | 490/1 | €3,499 | €3,726 | +€227 | +6.5% |
| Total equity and liabilities | 10/49 | €744,822 | €264,837 | -€479,986 | -64.4% |
| Equity | 10/15 | €663,426 | €240,103 | -€423,324 | -63.8% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Reserves | 13 | €658,926 | €235,603 | -€423,324 | -64.2% |
| Distributable reserves | 133 | €658,926 | €235,603 | -€423,324 | -64.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €81,396 | €24,734 | -€56,662 | -69.6% |
| Amounts payable within one year | 42/48 | €81,396 | €24,734 | -€56,662 | -69.6% |
| Trade debts | 44 | €1,148 | €1,549 | +€401 | +34.9% |
| Suppliers | 440/4 | €1,148 | €1,549 | +€401 | +34.9% |
| Taxes, remuneration and social security | 45 | €77,707 | €20,087 | -€57,620 | -74.2% |
| Taxes | 450/3 | €77,707 | €20,087 | -€57,620 | -74.2% |
| Other amounts payable | 47/48 | €2,540 | €3,098 | +€558 | +21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,897 | €4,897 | = | 0.0% |
| Other operating charges | 640/8 | €1,130 | €1,165 | +€35 | +3.1% |
| Gross operating margin | 9900 | €271,396 | €302,300 | +€30,905 | +11.4% |
| Operating profit (loss) | 9901 | €265,369 | €296,238 | +€30,870 | +11.6% |
| Financial income | 75/76B | €10,809 | €13,073 | +€2,264 | +20.9% |
| Recurring financial income | 75 | €10,809 | €13,073 | +€2,264 | +20.9% |
| Financial charges | 65/66B | -€22 | €133 | +€155 | |
| Recurring financial charges | 65 | -€22 | €133 | +€155 | |
| Profit (loss) for the period before taxes | 9903 | €276,200 | €309,179 | +€32,979 | +11.9% |
| Income taxes | 67/77 | €65,453 | €73,576 | +€8,123 | +12.4% |
| Profit (loss) for the period | 9904 | €210,747 | €235,603 | +€24,856 | +11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €210,747 | €235,603 | +€24,856 | +11.8% |
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.