Rho Management: 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.
Rho Management
Largest movements
- Cash -€88,865
down €88,865 (-70.9%), from €125,352 to €36,487
mainly Investment in fixed assets (net) (-€86,638) and Other debts (-€37,030)
- Tangible fixed assets +€77,367
up €77,367 (+32.5%), from €238,111 to €315,478
of which Land and buildings: +€77,386
- Other debts -€37,030
down €37,030 (-53.5%), from €69,224 to €32,194
- Reserves +€32,684
up €32,684 (+68.7%), from €47,559 to €80,243
- Debts after one year -€14,800
down €14,800 (-12.0%), from €123,333 to €108,533
- Tax, wage and social debts +€9,827
up €9,827 (+28.7%), from €34,245 to €44,072
- Gross operating margin -€4,053
down €4,053 (-5.9%), from €68,370 to €64,317
- Taxes -€1,472
down €1,472 (-7.5%), from €19,555 to €18,083
- Depreciation +€990
up €990 (+12.0%), from €8,281 to €9,271
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €377,389 | €363,945 | -€13,444 | -3.6% |
| Fixed assets | 21/28 | €238,111 | €315,478 | +€77,367 | +32.5% |
| Tangible fixed assets | 22/27 | €238,111 | €315,478 | +€77,367 | +32.5% |
| Land and buildings | 22 | €236,498 | €313,884 | +€77,386 | +32.7% |
| Plant, machinery and equipment | 23 | €1,487 | €874 | -€613 | -41.2% |
| Furniture and vehicles | 24 | €126 | €719 | +€594 | +472% |
| Current assets | 29/58 | €139,278 | €48,468 | -€90,810 | -65.2% |
| Amounts receivable within one year | 40/41 | €12,349 | €10,566 | -€1,783 | -14.4% |
| Trade receivables | 40 | €10,890 | €9,680 | -€1,210 | -11.1% |
| Other amounts receivable | 41 | €1,459 | €886 | -€573 | -39.3% |
| Cash at bank and in hand | 54/58 | €125,352 | €36,487 | -€88,865 | -70.9% |
| Deferred charges and accrued income | 490/1 | €1,578 | €1,415 | -€163 | -10.3% |
| Total equity and liabilities | 10/49 | €377,389 | €363,945 | -€13,444 | -3.6% |
| Equity | 10/15 | €130,215 | €162,899 | +€32,684 | +25.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €47,559 | €80,243 | +€32,684 | +68.7% |
| Distributable reserves | 133 | €47,559 | €80,243 | +€32,684 | +68.7% |
| Profit (loss) carried forward | 14 | €70,255 | €70,255 | = | 0.0% |
| Amounts payable | 17/49 | €247,174 | €201,047 | -€46,128 | -18.7% |
| Amounts payable after more than one year | 17 | €123,333 | €108,533 | -€14,800 | -12.0% |
| Financial debts | 170/4 | €123,333 | €108,533 | -€14,800 | -12.0% |
| Amounts payable within one year | 42/48 | €123,841 | €92,513 | -€31,328 | -25.3% |
| Current portion of amounts payable after more than one year | 42 | €15,895 | €14,800 | -€1,095 | -6.9% |
| Trade debts | 44 | €4,477 | €1,447 | -€3,030 | -67.7% |
| Suppliers | 440/4 | €4,477 | €1,447 | -€3,030 | -67.7% |
| Taxes, remuneration and social security | 45 | €34,245 | €44,072 | +€9,827 | +28.7% |
| Taxes | 450/3 | €34,245 | €44,072 | +€9,827 | +28.7% |
| Other amounts payable | 47/48 | €69,224 | €32,194 | -€37,030 | -53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,281 | €9,271 | +€990 | +12.0% |
| Other operating charges | 640/8 | €1,427 | €1,559 | +€132 | +9.3% |
| Gross operating margin | 9900 | €68,370 | €64,317 | -€4,053 | -5.9% |
| Operating profit (loss) | 9901 | €58,662 | €53,487 | -€5,175 | -8.8% |
| Financial charges | 65/66B | €2,867 | €2,720 | -€147 | -5.1% |
| Recurring financial charges | 65 | €2,867 | €2,720 | -€147 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €55,796 | €50,767 | -€5,029 | -9.0% |
| Income taxes | 67/77 | €19,555 | €18,083 | -€1,472 | -7.5% |
| Profit (loss) for the period | 9904 | €36,241 | €32,684 | -€3,557 | -9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,241 | €32,684 | -€3,557 | -9.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.