RO-THO: 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-THO
Largest movements
- Cash +€42,074
up €42,074 (+130.8%), from €32,166 to €74,240
mainly Other debts (+€234,348) and Net result for the year (+€145,056)
- Deferred charges and accrued income +€22,843
new in 2025: €22,843
- Receivables within one year -€15,000
down €15,000 (-75.0%), from €20,000 to €5,000
of which Trade receivables: -€20,000
- Other debts +€234,348
up €234,348 (+154.0%), from €152,135 to €386,483
- Reserves -€146,444
down €146,444 (-96.3%), from €152,093 to €5,649
- Debts after one year -€59,943
down €59,943 (-24.2%), from €248,107 to €188,164
- Tax, wage and social debts +€22,033
up €22,033 (+310.7%), from €7,090 to €29,123
of which Taxes: +€22,033
- Financial income +€21,000
up €21,000 (+31.8%), from €66,000 to €87,000
- Gross operating margin -€14,806
down €14,806 (-10.8%), from €137,700 to €122,894
- Taxes +€4,898
up €4,898 (+17.3%), from €28,389 to €33,287
- Financial charges +€2,872
up €2,872 (+15.6%), from €18,419 to €21,291
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.
Cash bridge derived
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 | €632,818 | €680,383 | +€47,565 | +7.5% |
| Fixed assets | 21/28 | €580,653 | €578,300 | -€2,352 | -0.4% |
| Tangible fixed assets | 22/27 | €17,218 | €14,866 | -€2,352 | -13.7% |
| Land and buildings | 22 | €4,330 | €3,805 | -€525 | -12.1% |
| Furniture and vehicles | 24 | €6,609 | €5,412 | -€1,197 | -18.1% |
| Leasing and similar rights | 25 | €6,279 | - | -€6,279 | |
| Other tangible fixed assets | 26 | - | €5,649 | +€5,649 | |
| Financial fixed assets | 28 | €563,435 | €563,435 | = | 0.0% |
| Current assets | 29/58 | €52,166 | €102,083 | +€49,917 | +95.7% |
| Amounts receivable within one year | 40/41 | €20,000 | €5,000 | -€15,000 | -75.0% |
| Trade receivables | 40 | €20,000 | - | -€20,000 | |
| Other amounts receivable | 41 | - | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €32,166 | €74,240 | +€42,074 | +130.8% |
| Deferred charges and accrued income | 490/1 | - | €22,843 | +€22,843 | |
| Total equity and liabilities | 10/49 | €632,818 | €680,383 | +€47,565 | +7.5% |
| Equity | 10/15 | €159,093 | €12,649 | -€146,444 | -92.0% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €152,093 | €5,649 | -€146,444 | -96.3% |
| Distributable reserves | 133 | €152,093 | €5,649 | -€146,444 | -96.3% |
| Amounts payable | 17/49 | €473,725 | €667,734 | +€194,009 | +41.0% |
| Amounts payable after more than one year | 17 | €248,107 | €188,164 | -€59,943 | -24.2% |
| Financial debts | 170/4 | €248,107 | €188,164 | -€59,943 | -24.2% |
| Amounts payable within one year | 42/48 | €225,618 | €479,571 | +€253,952 | +112.6% |
| Current portion of amounts payable after more than one year | 42 | €65,232 | €59,943 | -€5,289 | -8.1% |
| Trade debts | 44 | €1,161 | €4,022 | +€2,861 | +246.4% |
| Suppliers | 440/4 | €1,161 | €4,022 | +€2,861 | +246.4% |
| Taxes, remuneration and social security | 45 | €7,090 | €29,123 | +€22,033 | +310.7% |
| Taxes | 450/3 | €5,215 | €27,248 | +€22,033 | +422.5% |
| Remuneration and social security | 454/9 | €1,875 | €1,875 | = | 0.0% |
| Other amounts payable | 47/48 | €152,135 | €386,483 | +€234,348 | +154.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,553 | €9,665 | -€888 | -8.4% |
| Other operating charges | 640/8 | €347 | €595 | +€248 | +71.4% |
| Gross operating margin | 9900 | €137,700 | €122,894 | -€14,806 | -10.8% |
| Operating profit (loss) | 9901 | €126,800 | €112,634 | -€14,166 | -11.2% |
| Financial income | 75/76B | €66,000 | €87,000 | +€21,000 | +31.8% |
| Recurring financial income | 75 | €66,000 | €87,000 | +€21,000 | +31.8% |
| Financial charges | 65/66B | €18,419 | €21,291 | +€2,872 | +15.6% |
| Recurring financial charges | 65 | €18,419 | €21,291 | +€2,872 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | €174,381 | €178,343 | +€3,962 | +2.3% |
| Income taxes | 67/77 | €28,389 | €33,287 | +€4,898 | +17.3% |
| Profit (loss) for the period | 9904 | €145,992 | €145,056 | -€936 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €145,992 | €145,056 | -€936 | -0.6% |
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 12 October 2026 via checked.be.