POWER ROSES: 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.
POWER ROSES
Largest movements
- Financial fixed assets +€472,806
up €472,806 (+86,862%), from €544 to €473,350
- Tangible fixed assets -€39,689
down €39,689 (-18.3%), from €216,457 to €176,768
of which Plant, machinery and equipment: -€34,937
- Receivables within one year +€33,086
up €33,086 (+10.1%), from €326,256 to €359,342
of which Other amounts receivable: +€105,655
- Cash +€30,299
up €30,299 (+3.4%), from €884,488 to €914,787
mainly Net result for the year (+€289,901) and Trade debts (+€216,613)
- Stocks and contracts -€26,755
no longer reported in 2025 (was €26,755)
- Reserves +€289,901
up €289,901 (+33.3%), from €870,101 to €1.2m
of which Distributable reserves: +€289,901
- Trade debts +€216,613
up €216,613 (+744%), from €29,115 to €245,728
- Tax, wage and social debts -€36,767
down €36,767 (-23.8%), from €154,268 to €117,501
of which Taxes: -€61,782
- Gross operating margin -€94,077
down €94,077 (-9.0%), from €1.0m to €955,309
- Staff costs -€77,006
down €77,006 (-14.4%), from €535,477 to €458,470
- Other operating charges -€33,922
down €33,922 (-62.5%), from €54,277 to €20,355
- Taxes +€12,612
up €12,612 (+10.0%), from €126,472 to €139,084
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 | €1,454,501 | €1,924,247 | +€469,746 | +32.3% |
| Fixed assets | 21/28 | €217,001 | €650,118 | +€433,117 | +200% |
| Tangible fixed assets | 22/27 | €216,457 | €176,768 | -€39,689 | -18.3% |
| Land and buildings | 22 | €119,662 | €117,614 | -€2,048 | -1.7% |
| Plant, machinery and equipment | 23 | €92,044 | €57,107 | -€34,937 | -38.0% |
| Furniture and vehicles | 24 | €4,751 | €2,047 | -€2,704 | -56.9% |
| Financial fixed assets | 28 | €544 | €473,350 | +€472,806 | +86,862% |
| Current assets | 29/58 | €1,237,499 | €1,274,129 | +€36,630 | +3.0% |
| Stocks and contracts in progress | 3 | €26,755 | - | -€26,755 | |
| Stocks | 30/36 | €26,755 | - | -€26,755 | |
| Amounts receivable within one year | 40/41 | €326,256 | €359,342 | +€33,086 | +10.1% |
| Trade receivables | 40 | €127,717 | €55,148 | -€72,569 | -56.8% |
| Other amounts receivable | 41 | €198,539 | €304,194 | +€105,655 | +53.2% |
| Cash at bank and in hand | 54/58 | €884,488 | €914,787 | +€30,299 | +3.4% |
| Total equity and liabilities | 10/49 | €1,454,501 | €1,924,247 | +€469,746 | +32.3% |
| Equity | 10/15 | €1,133,005 | €1,422,906 | +€289,901 | +25.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Capital | 10 | €18,550 | €18,550 | = | 0.0% |
| Issued capital | 100 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €870,101 | €1,160,002 | +€289,901 | +33.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,723 | €20,723 | = | 0.0% |
| Distributable reserves | 133 | €847,519 | €1,137,420 | +€289,901 | +34.2% |
| Profit (loss) carried forward | 14 | €244,354 | €244,354 | = | 0.0% |
| Provisions and deferred taxes | 16 | €138,112 | €138,112 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €138,112 | €138,112 | = | 0.0% |
| Pensions and similar obligations | 160 | €138,112 | €138,112 | = | 0.0% |
| Amounts payable | 17/49 | €183,383 | €363,229 | +€179,846 | +98.1% |
| Amounts payable within one year | 42/48 | €183,383 | €363,229 | +€179,846 | +98.1% |
| Trade debts | 44 | €29,115 | €245,728 | +€216,613 | +744% |
| Suppliers | 440/4 | €29,115 | €245,728 | +€216,613 | +744% |
| Taxes, remuneration and social security | 45 | €154,268 | €117,501 | -€36,767 | -23.8% |
| Taxes | 450/3 | €65,114 | €3,332 | -€61,782 | -94.9% |
| Remuneration and social security | 454/9 | €89,154 | €114,169 | +€25,015 | +28.1% |
| Remuneration, social security and pensions | 62 | €535,477 | €458,470 | -€77,006 | -14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,877 | €52,010 | -€5,868 | -10.1% |
| Other operating charges | 640/8 | €54,277 | €20,355 | -€33,922 | -62.5% |
| Gross operating margin | 9900 | €1,049,386 | €955,309 | -€94,077 | -9.0% |
| Operating profit (loss) | 9901 | €401,755 | €424,474 | +€22,719 | +5.7% |
| Financial income | 75/76B | €2,576 | €5,021 | +€2,445 | +94.9% |
| Recurring financial income | 75 | €2,576 | €5,021 | +€2,445 | +94.9% |
| Financial charges | 65/66B | €501 | €510 | +€9 | +1.8% |
| Recurring financial charges | 65 | €501 | €510 | +€9 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €403,830 | €428,984 | +€25,155 | +6.2% |
| Income taxes | 67/77 | €126,472 | €139,084 | +€12,612 | +10.0% |
| Profit (loss) for the period | 9904 | €277,358 | €289,901 | +€12,543 | +4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €277,358 | €289,901 | +€12,543 | +4.5% |
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 16 October 2026 via checked.be.