Maurice Rogge: 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.
Maurice Rogge
Largest movements
- Cash -€76,234
down €76,234 (-59.8%), from €127,511 to €51,277
mainly Other debts (-€200,766) and Receivables within one year (-€16,227)
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Receivables within one year +€16,227
up €16,227 (+207.1%), from €7,834 to €24,060
of which Trade receivables: +€17,300
- Tangible fixed assets -€13,338
down €13,338 (-2.4%), from €555,487 to €542,149
of which Furniture and vehicles: -€11,264
- Other debts -€200,766
down €200,766 (-44.4%), from €451,776 to €251,010
- Reserves +€62,850
up €62,850 (+42.3%), from €148,428 to €211,278
- Tax, wage and social debts +€13,464
new in 2025: €13,464
- Gross operating margin +€12,611
up €12,611 (+13.4%), from €93,774 to €106,385
- Taxes +€4,225
up €4,225 (+45.7%), from €9,240 to €13,464
- Depreciation -€2,467
down €2,467 (-9.3%), from €26,448 to €23,981
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.
Cash bridge derived
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 | €741,654 | €618,093 | -€123,561 | -16.7% |
| Fixed assets | 21/28 | €555,487 | €542,149 | -€13,338 | -2.4% |
| Tangible fixed assets | 22/27 | €555,487 | €542,149 | -€13,338 | -2.4% |
| Land and buildings | 22 | €544,223 | €542,149 | -€2,074 | -0.4% |
| Furniture and vehicles | 24 | €11,264 | - | -€11,264 | |
| Current assets | 29/58 | €186,167 | €75,944 | -€110,223 | -59.2% |
| Amounts receivable within one year | 40/41 | €7,834 | €24,060 | +€16,227 | +207.1% |
| Trade receivables | 40 | - | €17,300 | +€17,300 | |
| Other amounts receivable | 41 | €7,834 | €6,760 | -€1,073 | -13.7% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €127,511 | €51,277 | -€76,234 | -59.8% |
| Deferred charges and accrued income | 490/1 | €822 | €607 | -€215 | -26.2% |
| Total equity and liabilities | 10/49 | €741,654 | €618,093 | -€123,561 | -16.7% |
| Equity | 10/15 | €289,878 | €351,623 | +€61,745 | +21.3% |
| Contributions | 10/11 | €131,504 | €131,504 | = | 0.0% |
| Reserves | 13 | €148,428 | €211,278 | +€62,850 | +42.3% |
| Distributable reserves | 133 | €148,428 | €211,278 | +€62,850 | +42.3% |
| Investment grants | 15 | €9,946 | €8,841 | -€1,105 | -11.1% |
| Amounts payable | 17/49 | €451,776 | €266,471 | -€185,305 | -41.0% |
| Amounts payable within one year | 42/48 | €451,776 | €266,471 | -€185,305 | -41.0% |
| Trade debts | 44 | - | €1,997 | +€1,997 | |
| Suppliers | 440/4 | - | €1,997 | +€1,997 | |
| Taxes, remuneration and social security | 45 | - | €13,464 | +€13,464 | |
| Taxes | 450/3 | - | €13,464 | +€13,464 | |
| Other amounts payable | 47/48 | €451,776 | €251,010 | -€200,766 | -44.4% |
| Non-recurring operating income | 76A | - | €18,736 | +€18,736 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,448 | €23,981 | -€2,467 | -9.3% |
| Other operating charges | 640/8 | €7,198 | €7,423 | +€225 | +3.1% |
| Gross operating margin | 9900 | €93,774 | €106,385 | +€12,611 | +13.4% |
| Operating profit (loss) | 9901 | €60,129 | €74,981 | +€14,853 | +24.7% |
| Financial income | 75/76B | €1,770 | €1,371 | -€399 | -22.5% |
| Recurring financial income | 75 | €1,770 | €1,371 | -€399 | -22.5% |
| Financial charges | 65/66B | €151 | €38 | -€113 | -74.6% |
| Recurring financial charges | 65 | €151 | €38 | -€113 | -74.6% |
| Profit (loss) for the period before taxes | 9903 | €61,748 | €76,314 | +€14,566 | +23.6% |
| Income taxes | 67/77 | €9,240 | €13,464 | +€4,225 | +45.7% |
| Profit (loss) for the period | 9904 | €52,508 | €62,850 | +€10,342 | +19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,508 | €62,850 | +€10,342 | +19.7% |
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 11 October 2026 via checked.be.