PATRICK ROGGEMANS: 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.
PATRICK ROGGEMANS
Largest movements
- Current investments -€368,888
down €368,888 (-72.7%), from €507,328 to €138,440
- Cash +€92,218
up €92,218 (+56.6%), from €163,029 to €255,247
mainly Current investments (+€368,888) and Net result for the year (+€28,209)
- Receivables within one year -€9,541
down €9,541 (-71.0%), from €13,445 to €3,904
of which Trade receivables: -€9,475
- Other debts -€308,294
down €308,294 (-90.1%), from €342,096 to €33,802
- Reserves +€28,209
up €28,209 (+55.7%), from €50,635 to €78,844
- Financial income +€24,085
up €24,085 (+1,875%), from €1,285 to €25,369
- Financial charges -€6,288
down €6,288 (-41.6%), from €15,108 to €8,820
- Taxes +€4,842
up €4,842 (+68.4%), from €7,081 to €11,923
- Gross operating margin -€2,870
down €2,870 (-9.9%), from €28,909 to €26,039
- Other operating charges -€906
down €906 (-60.3%), from €1,501 to €596
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 | €689,211 | €402,500 | -€286,711 | -41.6% |
| Fixed assets | 21/28 | €4,174 | €4,163 | -€12 | -0.3% |
| Tangible fixed assets | 22/27 | €4,174 | €4,163 | -€12 | -0.3% |
| Plant, machinery and equipment | 23 | €2,345 | €2,101 | -€244 | -10.4% |
| Furniture and vehicles | 24 | €0 | €1,754 | +€1,754 | |
| Other tangible fixed assets | 26 | €1,829 | €307 | -€1,522 | -83.2% |
| Current assets | 29/58 | €685,037 | €398,338 | -€286,699 | -41.9% |
| Amounts receivable within one year | 40/41 | €13,445 | €3,904 | -€9,541 | -71.0% |
| Trade receivables | 40 | €13,379 | €3,904 | -€9,475 | -70.8% |
| Other amounts receivable | 41 | €67 | €0 | -€67 | -100% |
| Current investments | 50/53 | €507,328 | €138,440 | -€368,888 | -72.7% |
| Cash at bank and in hand | 54/58 | €163,029 | €255,247 | +€92,218 | +56.6% |
| Deferred charges and accrued income | 490/1 | €1,234 | €746 | -€488 | -39.5% |
| Total equity and liabilities | 10/49 | €689,211 | €402,500 | -€286,711 | -41.6% |
| Equity | 10/15 | €200,635 | €228,844 | +€28,209 | +14.1% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €50,635 | €78,844 | +€28,209 | +55.7% |
| Distributable reserves | 133 | €50,635 | €78,844 | +€28,209 | +55.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €488,576 | €173,656 | -€314,920 | -64.5% |
| Amounts payable after more than one year | 17 | €120,000 | €120,000 | = | 0.0% |
| Financial debts | 170/4 | €120,000 | €120,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €357,622 | €46,979 | -€310,643 | -86.9% |
| Trade debts | 44 | €2,742 | €4,681 | +€1,939 | +70.7% |
| Suppliers | 440/4 | €2,742 | €4,681 | +€1,939 | +70.7% |
| Taxes, remuneration and social security | 45 | €12,784 | €8,496 | -€4,288 | -33.5% |
| Taxes | 450/3 | €10,017 | €6,132 | -€3,885 | -38.8% |
| Remuneration and social security | 454/9 | €2,767 | €2,365 | -€402 | -14.5% |
| Other amounts payable | 47/48 | €342,096 | €33,802 | -€308,294 | -90.1% |
| Accrued charges and deferred income | 492/3 | €10,954 | €6,677 | -€4,277 | -39.0% |
| Non-recurring operating income | 76A | €0 | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,747 | €1,860 | +€113 | +6.5% |
| Other operating charges | 640/8 | €1,501 | €596 | -€906 | -60.3% |
| Gross operating margin | 9900 | €28,909 | €26,039 | -€2,870 | -9.9% |
| Operating profit (loss) | 9901 | €25,661 | €23,583 | -€2,078 | -8.1% |
| Financial income | 75/76B | €1,285 | €25,369 | +€24,085 | +1,875% |
| Recurring financial income | 75 | €1,285 | €25,369 | +€24,085 | +1,875% |
| Financial charges | 65/66B | €15,108 | €8,820 | -€6,288 | -41.6% |
| Recurring financial charges | 65 | €15,108 | €8,820 | -€6,288 | -41.6% |
| Profit (loss) for the period before taxes | 9903 | €11,837 | €40,132 | +€28,295 | +239% |
| Income taxes | 67/77 | €7,081 | €11,923 | +€4,842 | +68.4% |
| Profit (loss) for the period | 9904 | €4,756 | €28,209 | +€23,453 | +493% |
| Profit (loss) for the period to be appropriated | 9905 | €4,756 | €28,209 | +€23,453 | +493% |
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 25 October 2026 via checked.be.