ON(T)ROEREND: 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.
ON(T)ROEREND
Largest movements
- Current investments -€68,507
down €68,507 (-38.3%), from €178,956 to €110,449
- Tangible fixed assets -€43,137
down €43,137 (-9.0%), from €478,665 to €435,529
of which Land and buildings: -€42,446
- Cash +€15,530
up €15,530 (+75.9%), from €20,456 to €35,986
mainly Current investments (+€68,507) and Depreciation (+€43,137)
- Current portion of long-term debt -€38,500
down €38,500 (-91.7%), from €42,000 to €3,500
- Profit (loss) carried forward -€37,790
down €37,790 (-7.6%), from €499,659 to €461,869
- Trade debts -€16,512
down €16,512 (-99.8%), from €16,550 to €38
- Financial income +€12,371
up €12,371 (+159%), from €7,757 to €20,128
of which Non-recurring financial income: +€16,341
- Gross operating margin +€5,959
up €5,959 (+70.6%), from -€8,436 to -€2,477
- Financial charges +€1,636
up €1,636 (+63.2%), from €2,590 to €4,227
of which Non-recurring financial charges: +€2,751
- Other operating charges -€212
down €212 (-2.6%), from €8,289 to €8,078
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 | €683,409 | €587,107 | -€96,302 | -14.1% |
| Fixed assets | 21/28 | €478,665 | €435,529 | -€43,137 | -9.0% |
| Tangible fixed assets | 22/27 | €478,665 | €435,529 | -€43,137 | -9.0% |
| Land and buildings | 22 | €476,352 | €433,907 | -€42,446 | -8.9% |
| Furniture and vehicles | 24 | €2,313 | €1,622 | -€691 | -29.9% |
| Current assets | 29/58 | €204,744 | €151,578 | -€53,166 | -26.0% |
| Amounts receivable within one year | 40/41 | €1,652 | €1,266 | -€386 | -23.4% |
| Trade receivables | 40 | €12 | - | -€12 | |
| Other amounts receivable | 41 | €1,640 | €1,266 | -€375 | -22.8% |
| Current investments | 50/53 | €178,956 | €110,449 | -€68,507 | -38.3% |
| Cash at bank and in hand | 54/58 | €20,456 | €35,986 | +€15,530 | +75.9% |
| Deferred charges and accrued income | 490/1 | €3,680 | €3,877 | +€196 | +5.3% |
| Total equity and liabilities | 10/49 | €683,409 | €587,107 | -€96,302 | -14.1% |
| Equity | 10/15 | €621,359 | €583,569 | -€37,790 | -6.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €59,700 | €59,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €53,500 | €53,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €499,659 | €461,869 | -€37,790 | -7.6% |
| Amounts payable | 17/49 | €62,050 | €3,538 | -€58,512 | -94.3% |
| Amounts payable after more than one year | 17 | €3,500 | - | -€3,500 | |
| Financial debts | 170/4 | €3,500 | - | -€3,500 | |
| Amounts payable within one year | 42/48 | €58,550 | €3,538 | -€55,012 | -94.0% |
| Current portion of amounts payable after more than one year | 42 | €42,000 | €3,500 | -€38,500 | -91.7% |
| Trade debts | 44 | €16,550 | €38 | -€16,512 | -99.8% |
| Suppliers | 440/4 | €16,550 | €38 | -€16,512 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,217 | €43,137 | -€80 | -0.2% |
| Other operating charges | 640/8 | €8,289 | €8,078 | -€212 | -2.6% |
| Gross operating margin | 9900 | -€8,436 | -€2,477 | +€5,959 | +70.6% |
| Operating profit (loss) | 9901 | -€59,942 | -€53,692 | +€6,250 | +10.4% |
| Financial income | 75/76B | €7,757 | €20,128 | +€12,371 | +159% |
| Recurring financial income | 75 | €7,757 | €3,787 | -€3,970 | -51.2% |
| Non-recurring financial income | 76B | - | €16,341 | +€16,341 | |
| Financial charges | 65/66B | €2,590 | €4,227 | +€1,636 | +63.2% |
| Recurring financial charges | 65 | €2,590 | €1,476 | -€1,115 | -43.0% |
| Non-recurring financial charges | 66B | - | €2,751 | +€2,751 | |
| Profit (loss) for the period before taxes | 9903 | -€54,775 | -€37,790 | +€16,985 | +31.0% |
| Profit (loss) for the period | 9904 | -€54,775 | -€37,790 | +€16,985 | +31.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,775 | -€37,790 | +€16,985 | +31.0% |
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 17 October 2026 via checked.be.