ROBELCO: 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.
ROBELCO
Largest movements
- Cash +€12,837
up €12,837 (+29.7%), from €43,178 to €56,015
mainly Net result for the year (+€14,272) and Depreciation (+€6,929)
- Receivables within one year +€8,601
up €8,601 (+87.0%), from €9,890 to €18,491
of which Other amounts receivable: +€8,946
- Tangible fixed assets -€6,181
down €6,181 (-32.8%), from €18,841 to €12,660
of which Plant, machinery and equipment: -€5,436
- Stocks and contracts -€3,437
down €3,437 (-33.7%), from €10,192 to €6,755
of which Contracts in progress: -€3,056
- Reserves +€13,439
up €13,439 (+18.1%), from €74,189 to €87,629
- Trade debts -€1,368
down €1,368 (-47.0%), from €2,908 to €1,540
- Gross operating margin -€37,643
down €37,643 (-56.9%), from €66,198 to €28,555
- Taxes -€21,223
down €21,223 (-76.3%), from €27,808 to €6,584
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 | €83,241 | €95,152 | +€11,911 | +14.3% |
| Fixed assets | 21/28 | €18,841 | €12,660 | -€6,181 | -32.8% |
| Tangible fixed assets | 22/27 | €18,841 | €12,660 | -€6,181 | -32.8% |
| Plant, machinery and equipment | 23 | €17,108 | €11,673 | -€5,436 | -31.8% |
| Furniture and vehicles | 24 | €1,732 | €987 | -€745 | -43.0% |
| Current assets | 29/58 | €64,400 | €82,492 | +€18,092 | +28.1% |
| Stocks and contracts in progress | 3 | €10,192 | €6,755 | -€3,437 | -33.7% |
| Stocks | 30/36 | €6,963 | €6,582 | -€381 | -5.5% |
| Contracts in progress | 37 | €3,229 | €173 | -€3,056 | -94.6% |
| Amounts receivable within one year | 40/41 | €9,890 | €18,491 | +€8,601 | +87.0% |
| Trade receivables | 40 | €7,801 | €7,456 | -€345 | -4.4% |
| Other amounts receivable | 41 | €2,089 | €11,035 | +€8,946 | +428% |
| Cash at bank and in hand | 54/58 | €43,178 | €56,015 | +€12,837 | +29.7% |
| Deferred charges and accrued income | 490/1 | €1,141 | €1,231 | +€91 | +7.9% |
| Total equity and liabilities | 10/49 | €83,241 | €95,152 | +€11,911 | +14.3% |
| Equity | 10/15 | €78,189 | €91,629 | +€13,439 | +17.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €74,189 | €87,629 | +€13,439 | +18.1% |
| Distributable reserves | 133 | €74,189 | €87,629 | +€13,439 | +18.1% |
| Amounts payable | 17/49 | €5,052 | €3,523 | -€1,529 | -30.3% |
| Amounts payable after more than one year | 17 | €1,248 | €1,054 | -€194 | -15.5% |
| Other amounts payable | 178/9 | €1,248 | €1,054 | -€194 | -15.5% |
| Amounts payable within one year | 42/48 | €3,708 | €2,373 | -€1,335 | -36.0% |
| Trade debts | 44 | €2,908 | €1,540 | -€1,368 | -47.0% |
| Suppliers | 440/4 | €2,908 | €1,540 | -€1,368 | -47.0% |
| Taxes, remuneration and social security | 45 | €120 | €125 | +€5 | +4.1% |
| Taxes | 450/3 | €120 | €125 | +€5 | +4.1% |
| Other amounts payable | 47/48 | €680 | €708 | +€28 | +4.1% |
| Accrued charges and deferred income | 492/3 | €95 | €96 | +€0 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,409 | €6,929 | +€520 | +8.1% |
| Other operating charges | 640/8 | €1,338 | €1,346 | +€8 | +0.6% |
| Gross operating margin | 9900 | €66,198 | €28,555 | -€37,643 | -56.9% |
| Operating profit (loss) | 9901 | €58,451 | €20,280 | -€38,171 | -65.3% |
| Financial income | 75/76B | €670 | €682 | +€13 | +1.9% |
| Recurring financial income | 75 | €670 | €682 | +€13 | +1.9% |
| Financial charges | 65/66B | €103 | €105 | +€2 | +2.2% |
| Recurring financial charges | 65 | €103 | €105 | +€2 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €59,018 | €20,857 | -€38,161 | -64.7% |
| Income taxes | 67/77 | €27,808 | €6,584 | -€21,223 | -76.3% |
| Profit (loss) for the period | 9904 | €31,210 | €14,272 | -€16,938 | -54.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,210 | €14,272 | -€16,938 | -54.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.