FORT ROGER: 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.
FORT ROGER
Largest movements
- Receivables within one year -€268,194
down €268,194 (-40.5%), from €662,971 to €394,777
of which Trade receivables: -€261,919
- Tangible fixed assets +€92,390
up €92,390 (+9.3%), from €997,125 to €1.1m
of which Furniture and vehicles: +€106,958
- Cash -€85,902
down €85,902 (-50.3%), from €170,936 to €85,034
mainly Trade debts (-€501,023) and Investment in fixed assets (net) (-€243,301)
- Stocks and contracts -€49,789
down €49,789 (-9.8%), from €509,232 to €459,443
- Trade debts -€501,023
down €501,023 (-54.3%), from €923,178 to €422,156
- Debts after one year +€121,555
up €121,555 (+24.7%), from €491,483 to €613,038
- Profit (loss) carried forward +€54,733
up €54,733 (+12.4%), from -€440,210 to -€385,478
- Gross operating margin +€81,152
up €81,152 (+29.9%), from €271,464 to €352,616
- Depreciation +€25,884
up €25,884 (+20.7%), from €125,027 to €150,911
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 | €2,342,609 | €2,032,582 | -€310,027 | -13.2% |
| Fixed assets | 21/28 | €999,470 | €1,091,860 | +€92,390 | +9.2% |
| Tangible fixed assets | 22/27 | €997,125 | €1,089,515 | +€92,390 | +9.3% |
| Land and buildings | 22 | €88,078 | €97,107 | +€9,028 | +10.3% |
| Plant, machinery and equipment | 23 | €96,539 | €163,320 | +€66,781 | +69.2% |
| Furniture and vehicles | 24 | €3,467 | €110,425 | +€106,958 | +3,085% |
| Leasing and similar rights | 25 | €60,509 | €53,579 | -€6,930 | -11.5% |
| Other tangible fixed assets | 26 | €748,531 | €665,084 | -€83,447 | -11.1% |
| Financial fixed assets | 28 | €2,345 | €2,345 | = | 0.0% |
| Current assets | 29/58 | €1,343,139 | €940,722 | -€402,417 | -30.0% |
| Stocks and contracts in progress | 3 | €509,232 | €459,443 | -€49,789 | -9.8% |
| Stocks | 30/36 | €509,232 | €459,443 | -€49,789 | -9.8% |
| Amounts receivable within one year | 40/41 | €662,971 | €394,777 | -€268,194 | -40.5% |
| Trade receivables | 40 | €651,065 | €389,146 | -€261,919 | -40.2% |
| Other amounts receivable | 41 | €11,907 | €5,631 | -€6,276 | -52.7% |
| Cash at bank and in hand | 54/58 | €170,936 | €85,034 | -€85,902 | -50.3% |
| Deferred charges and accrued income | 490/1 | - | €1,469 | +€1,469 | |
| Total equity and liabilities | 10/49 | €2,342,609 | €2,032,582 | -€310,027 | -13.2% |
| Equity | 10/15 | €407,344 | €462,077 | +€54,733 | +13.4% |
| Contributions | 10/11 | €606,200 | €606,200 | = | 0.0% |
| Reserves | 13 | €241,355 | €241,355 | = | 0.0% |
| Distributable reserves | 133 | €241,355 | €241,355 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€440,210 | -€385,478 | +€54,733 | +12.4% |
| Amounts payable | 17/49 | €1,935,264 | €1,570,505 | -€364,759 | -18.8% |
| Amounts payable after more than one year | 17 | €491,483 | €613,038 | +€121,555 | +24.7% |
| Financial debts | 170/4 | €491,483 | €613,038 | +€121,555 | +24.7% |
| Amounts payable within one year | 42/48 | €1,443,781 | €957,467 | -€486,315 | -33.7% |
| Current portion of amounts payable after more than one year | 42 | €205,661 | €216,767 | +€11,106 | +5.4% |
| Financial debts | 43 | €300,000 | €300,000 | = | 0.0% |
| Credit institutions | 430/8 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €923,178 | €422,156 | -€501,023 | -54.3% |
| Suppliers | 440/4 | €923,178 | €422,156 | -€501,023 | -54.3% |
| Taxes, remuneration and social security | 45 | €14,942 | €18,544 | +€3,602 | +24.1% |
| Taxes | 450/3 | €2,002 | €1,977 | -€26 | -1.3% |
| Remuneration and social security | 454/9 | €12,940 | €16,567 | +€3,627 | +28.0% |
| Non-recurring operating income | 76A | - | €20,618 | +€20,618 | |
| Remuneration, social security and pensions | 62 | €75,878 | €77,916 | +€2,038 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125,027 | €150,911 | +€25,884 | +20.7% |
| Other operating charges | 640/8 | €22,661 | €24,673 | +€2,012 | +8.9% |
| Gross operating margin | 9900 | €271,464 | €352,616 | +€81,152 | +29.9% |
| Operating profit (loss) | 9901 | €47,899 | €99,117 | +€51,218 | +107% |
| Financial income | 75/76B | €150 | €97 | -€53 | -35.3% |
| Recurring financial income | 75 | €150 | €97 | -€53 | -35.3% |
| Financial charges | 65/66B | €44,355 | €44,482 | +€127 | +0.3% |
| Recurring financial charges | 65 | €44,355 | €44,482 | +€127 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €3,695 | €54,733 | +€51,038 | +1,381% |
| Profit (loss) for the period | 9904 | €3,695 | €54,733 | +€51,038 | +1,381% |
| Profit (loss) for the period to be appropriated | 9905 | €3,695 | €54,733 | +€51,038 | +1,381% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.