Madame Rose: what changed
Madame Rose
Largest movements
- Cash -€25,222
down €25,222 (-64.0%), from €39,397 to €14,175
mainly Net result for the year (-€35,305) and Debts after one year (-€4,476)
- Stocks and contracts -€7,679
down €7,679 (-71.1%), from €10,807 to €3,127
- Intangible fixed assets -€5,250
down €5,250 (-11.1%), from €47,195 to €41,946
- Receivables within one year +€2,559
up €2,559 (+977%), from €262 to €2,821
- Profit (loss) carried forward -€35,305
down €35,305, from €28,479 to -€6,826
- Debts after one year -€4,476
down €4,476 (-17.5%), from €25,508 to €21,032
- Trade debts +€2,530
up €2,530 (+1,911%), from €132 to €2,662
- Tax, wage and social debts +€1,290
up €1,290 (+14.0%), from €9,204 to €10,494
of which Taxes: +€865
- Gross operating margin -€50,600
down €50,600 (-90.0%), from €56,234 to €5,634
- Staff costs +€16,109
up €16,109 (+120%), from €13,480 to €29,589
- Taxes -€7,073
no longer reported in 2025 (was €7,073)
- Financial charges +€2,429
up €2,429 (+103%), from €2,347 to €4,776
- Depreciation +€1,247
up €1,247 (+27.9%), from €4,471 to €5,718
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €101,584 | €65,524 | -€36,059 | -35.5% |
| Fixed assets | 21/28 | €51,118 | €45,401 | -€5,718 | -11.2% |
| Intangible fixed assets | 21 | €47,195 | €41,946 | -€5,250 | -11.1% |
| Tangible fixed assets | 22/27 | €1,923 | €1,455 | -€468 | -24.3% |
| Other tangible fixed assets | 26 | €1,923 | €1,455 | -€468 | -24.3% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €50,465 | €20,124 | -€30,341 | -60.1% |
| Stocks and contracts in progress | 3 | €10,807 | €3,127 | -€7,679 | -71.1% |
| Stocks | 30/36 | €10,807 | €3,127 | -€7,679 | -71.1% |
| Amounts receivable within one year | 40/41 | €262 | €2,821 | +€2,559 | +977% |
| Trade receivables | 40 | €262 | €2,821 | +€2,559 | +977% |
| Cash at bank and in hand | 54/58 | €39,397 | €14,175 | -€25,222 | -64.0% |
| Total equity and liabilities | 10/49 | €101,584 | €65,524 | -€36,059 | -35.5% |
| Equity | 10/15 | €61,979 | €26,674 | -€35,305 | -57.0% |
| Contributions | 10/11 | €33,500 | €33,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,479 | -€6,826 | -€35,305 | |
| Amounts payable | 17/49 | €39,605 | €38,850 | -€755 | -1.9% |
| Amounts payable after more than one year | 17 | €25,508 | €21,032 | -€4,476 | -17.5% |
| Financial debts | 170/4 | €25,508 | €21,032 | -€4,476 | -17.5% |
| Amounts payable within one year | 42/48 | €14,097 | €17,818 | +€3,722 | +26.4% |
| Current portion of amounts payable after more than one year | 42 | €4,275 | €4,476 | +€201 | +4.7% |
| Trade debts | 44 | €132 | €2,662 | +€2,530 | +1,911% |
| Suppliers | 440/4 | €132 | €2,662 | +€2,530 | +1,911% |
| Taxes, remuneration and social security | 45 | €9,204 | €10,494 | +€1,290 | +14.0% |
| Taxes | 450/3 | €7,775 | €8,640 | +€865 | +11.1% |
| Remuneration and social security | 454/9 | €1,428 | €1,854 | +€426 | +29.8% |
| Other amounts payable | 47/48 | €485 | €185 | -€300 | -61.8% |
| Remuneration, social security and pensions | 62 | €13,480 | €29,589 | +€16,109 | +120% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,471 | €5,718 | +€1,247 | +27.9% |
| Other operating charges | 640/8 | €384 | €856 | +€471 | +123% |
| Gross operating margin | 9900 | €56,234 | €5,634 | -€50,600 | -90.0% |
| Operating profit (loss) | 9901 | €37,899 | -€30,529 | -€68,427 | |
| Financial charges | 65/66B | €2,347 | €4,776 | +€2,429 | +103% |
| Recurring financial charges | 65 | €2,347 | €4,776 | +€2,429 | +103% |
| Profit (loss) for the period before taxes | 9903 | €35,552 | -€35,305 | -€70,856 | |
| Income taxes | 67/77 | €7,073 | - | -€7,073 | |
| Profit (loss) for the period | 9904 | €28,479 | -€35,305 | -€63,783 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,479 | -€35,305 | -€63,783 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.