ROB MANAGEMENT: what changed
Two fiscal 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.
ROB MANAGEMENT
Largest movements
- Receivables after one year +€120,000
new in 2025: €120,000
- Cash -€59,335
down €59,335 (-49.6%), from €119,579 to €60,244
mainly Receivables after one year (-€120,000) and Trade debts (-€4,415)
- Tangible fixed assets -€19,607
down €19,607 (-32.0%), from €61,272 to €41,666
- Reserves +€36,622
up €36,622 (+5.3%), from €689,963 to €726,586
of which Distributable reserves: +€36,622
- Other debts +€11,447
up €11,447 (+3408.7%), from €336 to €11,783
- Gross operating margin -€63,844
down €63,844 (-49.2%), from €129,804 to €65,961
- Taxes -€22,608
down €22,608 (-53.8%), from €42,023 to €19,416
- Financial charges +€6,236
up €6,236, from -€5,569 to €667
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 | €773,040 | €814,482 | +€41,442 | +5.4% |
| Fixed assets | 21/28 | €63,612 | €45,176 | -€18,437 | -29.0% |
| Tangible fixed assets | 22/27 | €61,272 | €41,666 | -€19,607 | -32.0% |
| Furniture and vehicles | 24 | €61,272 | €41,666 | -€19,607 | -32.0% |
| Financial fixed assets | 28 | €2,340 | €3,510 | +€1,170 | +50.0% |
| Current assets | 29/58 | €709,428 | €769,306 | +€59,878 | +8.4% |
| Amounts receivable after more than one year | 29 | - | €120,000 | +€120,000 | |
| Other amounts receivable | 291 | - | €120,000 | +€120,000 | |
| Amounts receivable within one year | 40/41 | €20,795 | €22,617 | +€1,823 | +8.8% |
| Trade receivables | 40 | €20,795 | €13,617 | -€7,177 | -34.5% |
| Other amounts receivable | 41 | €0 | €9,000 | +€9,000 | |
| Current investments | 50/53 | €564,048 | €564,048 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €119,579 | €60,244 | -€59,335 | -49.6% |
| Deferred charges and accrued income | 490/1 | €5,007 | €2,397 | -€2,609 | -52.1% |
| Total equity and liabilities | 10/49 | €773,040 | €814,482 | +€41,442 | +5.4% |
| Equity | 10/15 | €753,842 | €790,464 | +€36,622 | +4.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €689,963 | €726,586 | +€36,622 | +5.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €683,763 | €720,386 | +€36,622 | +5.4% |
| Profit (loss) carried forward | 14 | €2,379 | €2,379 | = | 0.0% |
| Amounts payable | 17/49 | €19,199 | €24,018 | +€4,819 | +25.1% |
| Amounts payable within one year | 42/48 | €19,199 | €24,018 | +€4,819 | +25.1% |
| Trade debts | 44 | €8,755 | €4,341 | -€4,415 | -50.4% |
| Suppliers | 440/4 | €8,755 | €4,341 | -€4,415 | -50.4% |
| Taxes, remuneration and social security | 45 | €10,108 | €7,894 | -€2,213 | -21.9% |
| Taxes | 450/3 | €10,108 | €7,894 | -€2,213 | -21.9% |
| Other amounts payable | 47/48 | €336 | €11,783 | +€11,447 | +3408.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | -€98 | €0 | +€98 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,768 | €19,607 | -€161 | -0.8% |
| Other operating charges | 640/8 | €2,589 | €2,934 | +€345 | +13.3% |
| Gross operating margin | 9900 | €129,804 | €65,961 | -€63,844 | -49.2% |
| Operating profit (loss) | 9901 | €107,545 | €43,420 | -€64,125 | -59.6% |
| Financial income | 75/76B | €14,519 | €13,285 | -€1,234 | -8.5% |
| Recurring financial income | 75 | €14,519 | €13,285 | -€1,234 | -8.5% |
| Financial charges | 65/66B | -€5,569 | €667 | +€6,236 | |
| Recurring financial charges | 65 | -€5,569 | €667 | +€6,236 | |
| Profit (loss) for the period before taxes | 9903 | €127,633 | €56,038 | -€71,595 | -56.1% |
| Income taxes | 67/77 | €42,023 | €19,416 | -€22,608 | -53.8% |
| Profit (loss) for the period | 9904 | €85,610 | €36,622 | -€48,988 | -57.2% |
| Profit (loss) for the period to be appropriated | 9905 | €85,610 | €36,622 | -€48,988 | -57.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.