RO-EL-BO: 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.
RO-EL-BO
Largest movements
- Cash +€95,223
up €95,223 (+14.9%), from €638,784 to €734,007
mainly Depreciation (+€194,723) and Receivables within one year (+€82,555)
- Receivables within one year -€82,555
down €82,555 (-40.5%), from €204,054 to €121,498
of which Trade receivables: -€75,758
- Tangible fixed assets -€74,173
down €74,173 (-14.6%), from €507,626 to €433,453
of which Furniture and vehicles: -€65,900
- Trade debts -€139,684
down €139,684 (-91.8%), from €152,197 to €12,513
- Reserves +€44,060
up €44,060 (+5.6%), from €781,539 to €825,599
of which Distributable reserves: +€22,811
- Other debts +€14,869
up €14,869 (+4.7%), from €315,648 to €330,517
- Taxes -€13,142
down €13,142 (-60.1%), from €21,853 to €8,711
- Gross operating margin -€9,211
down €9,211 (-2.6%), from €357,298 to €348,088
- Depreciation +€7,144
up €7,144 (+3.8%), from €187,579 to €194,723
- Staff costs -€6,838
down €6,838 (-9.2%), from €74,594 to €67,756
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 | €1,369,349 | €1,300,967 | -€68,382 | -5.0% |
| Fixed assets | 21/28 | €507,626 | €433,453 | -€74,173 | -14.6% |
| Tangible fixed assets | 22/27 | €507,626 | €433,453 | -€74,173 | -14.6% |
| Plant, machinery and equipment | 23 | €272,849 | €264,575 | -€8,274 | -3.0% |
| Furniture and vehicles | 24 | €234,777 | €168,878 | -€65,900 | -28.1% |
| Current assets | 29/58 | €861,724 | €867,515 | +€5,791 | +0.7% |
| Stocks and contracts in progress | 3 | €11,727 | €7,148 | -€4,579 | -39.0% |
| Stocks | 30/36 | €11,727 | €7,148 | -€4,579 | -39.0% |
| Amounts receivable within one year | 40/41 | €204,054 | €121,498 | -€82,555 | -40.5% |
| Trade receivables | 40 | €192,821 | €117,063 | -€75,758 | -39.3% |
| Other amounts receivable | 41 | €11,233 | €4,436 | -€6,797 | -60.5% |
| Cash at bank and in hand | 54/58 | €638,784 | €734,007 | +€95,223 | +14.9% |
| Deferred charges and accrued income | 490/1 | €7,159 | €4,861 | -€2,298 | -32.1% |
| Total equity and liabilities | 10/49 | €1,369,349 | €1,300,967 | -€68,382 | -5.0% |
| Equity | 10/15 | €870,139 | €914,199 | +€44,060 | +5.1% |
| Contributions | 10/11 | €88,600 | €88,600 | = | 0.0% |
| Reserves | 13 | €781,539 | €825,599 | +€44,060 | +5.6% |
| Tax-exempt reserves | 132 | €10,616 | €31,865 | +€21,249 | +200% |
| Distributable reserves | 133 | €770,922 | €793,734 | +€22,811 | +3.0% |
| Provisions and deferred taxes | 16 | €2,654 | €10,244 | +€7,590 | +286% |
| Deferred taxes | 168 | €2,654 | €10,244 | +€7,590 | +286% |
| Amounts payable | 17/49 | €496,557 | €376,525 | -€120,032 | -24.2% |
| Amounts payable within one year | 42/48 | €496,557 | €373,453 | -€123,104 | -24.8% |
| Trade debts | 44 | €152,197 | €12,513 | -€139,684 | -91.8% |
| Suppliers | 440/4 | €152,197 | €12,513 | -€139,684 | -91.8% |
| Taxes, remuneration and social security | 45 | €28,712 | €30,423 | +€1,712 | +6.0% |
| Taxes | 450/3 | €24,102 | €25,980 | +€1,877 | +7.8% |
| Remuneration and social security | 454/9 | €4,609 | €4,443 | -€166 | -3.6% |
| Other amounts payable | 47/48 | €315,648 | €330,517 | +€14,869 | +4.7% |
| Accrued charges and deferred income | 492/3 | - | €3,072 | +€3,072 | |
| Non-recurring operating income | 76A | €62,727 | €88,437 | +€25,709 | +41.0% |
| Remuneration, social security and pensions | 62 | €74,594 | €67,756 | -€6,838 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €187,579 | €194,723 | +€7,144 | +3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €4,395 | €1,746 | -€2,649 | -60.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €357,298 | €348,088 | -€9,211 | -2.6% |
| Operating profit (loss) | 9901 | €90,731 | €83,863 | -€6,868 | -7.6% |
| Financial income | 75/76B | €483 | €40 | -€443 | -91.6% |
| Recurring financial income | 75 | €483 | €40 | -€443 | -91.6% |
| Financial charges | 65/66B | €24,794 | €23,543 | -€1,251 | -5.0% |
| Recurring financial charges | 65 | €24,794 | €23,543 | -€1,251 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €66,420 | €60,361 | -€6,059 | -9.1% |
| Transfer from deferred taxes | 780 | €1,520 | €2,410 | +€890 | +58.6% |
| Transfer to deferred taxes | 680 | - | €10,000 | +€10,000 | |
| Income taxes | 67/77 | €21,853 | €8,711 | -€13,142 | -60.1% |
| Profit (loss) for the period | 9904 | €46,086 | €44,060 | -€2,026 | -4.4% |
| Transfer from tax-exempt reserves | 789 | €6,080 | €8,751 | +€2,671 | +43.9% |
| Transfer to tax-exempt reserves | 689 | - | €30,000 | +€30,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €52,166 | €22,811 | -€29,355 | -56.3% |
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 20 October 2026 via checked.be.