M.ROSE: 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.
M.ROSE
Largest movements
- Cash +€67,765
up €67,765 (+99.8%), from €67,896 to €135,660
mainly Net result for the year (+€58,245) and Depreciation (+€14,094)
- Tangible fixed assets -€11,594
down €11,594 (-16.8%), from €68,892 to €57,298
of which Furniture and vehicles: -€9,161
- Receivables within one year -€11,014
down €11,014 (-41.2%), from €26,765 to €15,751
of which Trade receivables: -€12,515
- Profit (loss) carried forward +€58,245
up €58,245 (+51.8%), from €112,459 to €170,704
- Debts after one year -€11,114
no longer reported in 2025 (was €11,114)
- Tax, wage and social debts +€5,453
up €5,453 (+28.7%), from €18,983 to €24,436
of which Taxes: +€7,523
- Accrued charges and deferred income -€3,600
no longer reported in 2025 (was €3,600)
- Other debts -€2,619
no longer reported in 2025 (was €2,619)
- Gross operating margin +€7,312
up €7,312 (+8.9%), from €82,472 to €89,784
- Taxes +€2,368
up €2,368 (+17.9%), from €13,220 to €15,588
- Financial charges -€1,218
down €1,218 (-63.1%), from €1,930 to €712
of which Non-recurring financial charges: -€788
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 | €165,849 | €212,021 | +€46,171 | +27.8% |
| Fixed assets | 21/28 | €68,892 | €57,298 | -€11,594 | -16.8% |
| Tangible fixed assets | 22/27 | €68,892 | €57,298 | -€11,594 | -16.8% |
| Land and buildings | 22 | €27,855 | €26,893 | -€962 | -3.5% |
| Plant, machinery and equipment | 23 | €2,466 | €1,131 | -€1,335 | -54.1% |
| Furniture and vehicles | 24 | €34,298 | €25,137 | -€9,161 | -26.7% |
| Other tangible fixed assets | 26 | €4,273 | €4,137 | -€136 | -3.2% |
| Current assets | 29/58 | €96,957 | €154,723 | +€57,765 | +59.6% |
| Amounts receivable within one year | 40/41 | €26,765 | €15,751 | -€11,014 | -41.2% |
| Trade receivables | 40 | €26,765 | €14,250 | -€12,515 | -46.8% |
| Other amounts receivable | 41 | - | €1,501 | +€1,501 | |
| Cash at bank and in hand | 54/58 | €67,896 | €135,660 | +€67,765 | +99.8% |
| Deferred charges and accrued income | 490/1 | €2,297 | €3,312 | +€1,015 | +44.2% |
| Total equity and liabilities | 10/49 | €165,849 | €212,021 | +€46,171 | +27.8% |
| Equity | 10/15 | €114,459 | €172,704 | +€58,245 | +50.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,459 | €170,704 | +€58,245 | +51.8% |
| Amounts payable | 17/49 | €51,390 | €39,317 | -€12,073 | -23.5% |
| Amounts payable after more than one year | 17 | €11,114 | - | -€11,114 | |
| Financial debts | 170/4 | €11,114 | - | -€11,114 | |
| Amounts payable within one year | 42/48 | €36,676 | €39,317 | +€2,641 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €11,740 | €11,114 | -€626 | -5.3% |
| Trade debts | 44 | €3,334 | €3,766 | +€432 | +13.0% |
| Suppliers | 440/4 | €3,334 | €3,766 | +€432 | +13.0% |
| Taxes, remuneration and social security | 45 | €18,983 | €24,436 | +€5,453 | +28.7% |
| Taxes | 450/3 | €16,913 | €24,436 | +€7,523 | +44.5% |
| Remuneration and social security | 454/9 | €2,070 | - | -€2,070 | |
| Other amounts payable | 47/48 | €2,619 | - | -€2,619 | |
| Accrued charges and deferred income | 492/3 | €3,600 | - | -€3,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,671 | €14,094 | +€423 | +3.1% |
| Other operating charges | 640/8 | €1,017 | €1,849 | +€831 | +81.7% |
| Gross operating margin | 9900 | €82,472 | €89,784 | +€7,312 | +8.9% |
| Operating profit (loss) | 9901 | €67,784 | €73,842 | +€6,057 | +8.9% |
| Financial income | 75/76B | €71 | €704 | +€633 | +894% |
| Recurring financial income | 75 | €71 | €704 | +€633 | +894% |
| Non-recurring financial income | 76B | €71 | €704 | +€633 | +894% |
| Financial charges | 65/66B | €1,930 | €712 | -€1,218 | -63.1% |
| Recurring financial charges | 65 | €1,020 | €590 | -€430 | -42.1% |
| Non-recurring financial charges | 66B | €910 | €122 | -€788 | -86.6% |
| Profit (loss) for the period before taxes | 9903 | €65,925 | €73,833 | +€7,908 | +12.0% |
| Income taxes | 67/77 | €13,220 | €15,588 | +€2,368 | +17.9% |
| Profit (loss) for the period | 9904 | €52,705 | €58,245 | +€5,540 | +10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €52,705 | €58,245 | +€5,540 | +10.5% |
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 18 October 2026 via checked.be.