Road2Innovation: 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.
Road2Innovation
Largest movements
- Tangible fixed assets +€299,964
up €299,964 (+5024.2%), from €5,970 to €305,934
of which Land and buildings: +€277,070
- Cash -€13,205
down €13,205 (-77.6%), from €17,024 to €3,820
mainly Investment in fixed assets (net) (-€312,775) and Trade debts (-€2,124)
- Debts after one year +€200,000
new in 2025: €200,000
- Other debts +€29,346
up €29,346 (+121.3%), from €24,193 to €53,539
- Reserves +€28,398
new in 2025: €28,398
- Current portion of long-term debt +€19,585
up €19,585 (+3047.5%), from €643 to €20,227
- Tax, wage and social debts +€12,940
up €12,940 (+155.7%), from €8,311 to €21,252
- Gross operating margin +€35,367
up €35,367 (+185.5%), from €19,068 to €54,435
- Depreciation +€11,370
up €11,370 (+789.0%), from €1,441 to €12,811
- Taxes +€7,130
up €7,130 (+578.2%), from €1,233 to €8,363
- Financial charges +€1,443
up €1,443 (+365.1%), from €395 to €1,838
- Staff costs +€890
up €890 (+92.7%), from €960 to €1,850
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 | €37,738 | €326,448 | +€288,710 | +765.0% |
| Fixed assets | 21/28 | €5,970 | €305,934 | +€299,964 | +5024.2% |
| Tangible fixed assets | 22/27 | €5,970 | €305,934 | +€299,964 | +5024.2% |
| Land and buildings | 22 | - | €277,070 | +€277,070 | |
| Plant, machinery and equipment | 23 | €504 | €380 | -€124 | -24.5% |
| Furniture and vehicles | 24 | €5,466 | €5,866 | +€400 | +7.3% |
| Other tangible fixed assets | 26 | - | €22,617 | +€22,617 | |
| Current assets | 29/58 | €31,768 | €20,514 | -€11,254 | -35.4% |
| Amounts receivable within one year | 40/41 | €14,743 | €16,694 | +€1,951 | +13.2% |
| Trade receivables | 40 | €14,743 | €16,694 | +€1,951 | +13.2% |
| Cash at bank and in hand | 54/58 | €17,024 | €3,820 | -€13,205 | -77.6% |
| Total equity and liabilities | 10/49 | €37,738 | €326,448 | +€288,710 | +765.0% |
| Equity | 10/15 | €936 | €29,898 | +€28,963 | +3095.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Capital | 10 | €1,500 | €1,500 | = | 0.0% |
| Issued capital | 100 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | - | €28,398 | +€28,398 | |
| Distributable reserves | 133 | - | €28,398 | +€28,398 | |
| Profit (loss) carried forward | 14 | -€564 | - | +€564 | |
| Amounts payable | 17/49 | €36,802 | €296,550 | +€259,747 | +705.8% |
| Amounts payable after more than one year | 17 | - | €200,000 | +€200,000 | |
| Financial debts | 170/4 | - | €200,000 | +€200,000 | |
| Amounts payable within one year | 42/48 | €36,802 | €96,550 | +€59,747 | +162.3% |
| Current portion of amounts payable after more than one year | 42 | €643 | €20,227 | +€19,585 | +3047.5% |
| Trade debts | 44 | €3,656 | €1,532 | -€2,124 | -58.1% |
| Suppliers | 440/4 | €3,656 | €1,532 | -€2,124 | -58.1% |
| Taxes, remuneration and social security | 45 | €8,311 | €21,252 | +€12,940 | +155.7% |
| Taxes | 450/3 | €8,311 | €21,252 | +€12,940 | +155.7% |
| Other amounts payable | 47/48 | €24,193 | €53,539 | +€29,346 | +121.3% |
| Remuneration, social security and pensions | 62 | €960 | €1,850 | +€890 | +92.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,441 | €12,811 | +€11,370 | +789.0% |
| Other operating charges | 640/8 | €784 | €610 | -€175 | -22.3% |
| Gross operating margin | 9900 | €19,068 | €54,435 | +€35,367 | +185.5% |
| Operating profit (loss) | 9901 | €15,883 | €39,164 | +€23,282 | +146.6% |
| Financial charges | 65/66B | €395 | €1,838 | +€1,443 | +365.1% |
| Recurring financial charges | 65 | €395 | €1,838 | +€1,443 | +365.1% |
| Profit (loss) for the period before taxes | 9903 | €15,487 | €37,326 | +€21,838 | +141.0% |
| Income taxes | 67/77 | €1,233 | €8,363 | +€7,130 | +578.2% |
| Profit (loss) for the period | 9904 | €14,254 | €28,963 | +€14,709 | +103.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,254 | €28,963 | +€14,709 | +103.2% |
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.