ROBERT: 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.
ROBERT
Largest movements
- Cash +€72,874
up €72,874 (+51.5%), from €141,532 to €214,406
mainly Other debts (+€175,000) and Depreciation (+€155,702)
- Tangible fixed assets -€56,674
down €56,674 (-10.0%), from €567,315 to €510,641
of which Plant, machinery and equipment: -€73,777
- Stocks and contracts -€48,522
down €48,522 (-15.5%), from €313,082 to €264,560
- Receivables within one year +€36,073
up €36,073 (+17.4%), from €207,430 to €243,503
of which Trade receivables: +€73,735
- Other debts +€175,000
new in 2025: €175,000
- Reserves -€116,741
down €116,741 (-15.5%), from €755,563 to €638,822
- Current portion of long-term debt -€49,737
down €49,737 (-55.9%), from €88,922 to €39,186
- Debts after one year -€39,186
down €39,186 (-27.7%), from €141,474 to €102,288
- Tax, wage and social debts +€24,509
up €24,509 (+20.2%), from €121,325 to €145,834
of which Taxes: +€34,461
- Gross operating margin -€85,831
down €85,831 (-8.6%), from €997,273 to €911,442
- Staff costs -€54,681
down €54,681 (-9.4%), from €583,416 to €528,735
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 | €1,232,985 | €1,235,956 | +€2,972 | +0.2% |
| Fixed assets | 21/28 | €568,000 | €511,326 | -€56,674 | -10.0% |
| Intangible fixed assets | 21 | €550 | €550 | = | 0.0% |
| Tangible fixed assets | 22/27 | €567,315 | €510,641 | -€56,674 | -10.0% |
| Land and buildings | 22 | €75,058 | €75,058 | = | 0.0% |
| Plant, machinery and equipment | 23 | €431,237 | €357,460 | -€73,777 | -17.1% |
| Furniture and vehicles | 24 | €61,020 | €78,123 | +€17,103 | +28.0% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €664,984 | €724,630 | +€59,646 | +9.0% |
| Stocks and contracts in progress | 3 | €313,082 | €264,560 | -€48,522 | -15.5% |
| Stocks | 30/36 | €313,082 | €264,560 | -€48,522 | -15.5% |
| Amounts receivable within one year | 40/41 | €207,430 | €243,503 | +€36,073 | +17.4% |
| Trade receivables | 40 | €30,810 | €104,545 | +€73,735 | +239.3% |
| Other amounts receivable | 41 | €176,620 | €138,957 | -€37,662 | -21.3% |
| Cash at bank and in hand | 54/58 | €141,532 | €214,406 | +€72,874 | +51.5% |
| Deferred charges and accrued income | 490/1 | €2,941 | €2,161 | -€780 | -26.5% |
| Total equity and liabilities | 10/49 | €1,232,985 | €1,235,956 | +€2,972 | +0.2% |
| Equity | 10/15 | €878,279 | €761,538 | -€116,741 | -13.3% |
| Contributions | 10/11 | €122,716 | €122,716 | = | 0.0% |
| Outside capital | 11 | €122,716 | €122,716 | = | 0.0% |
| Share premium | 1100/10 | €122,716 | €122,716 | = | 0.0% |
| Reserves | 13 | €755,563 | €638,822 | -€116,741 | -15.5% |
| Distributable reserves | 133 | €755,563 | €638,822 | -€116,741 | -15.5% |
| Amounts payable | 17/49 | €354,705 | €474,418 | +€119,713 | +33.7% |
| Amounts payable after more than one year | 17 | €141,474 | €102,288 | -€39,186 | -27.7% |
| Financial debts | 170/4 | €141,474 | €102,288 | -€39,186 | -27.7% |
| Amounts payable within one year | 42/48 | €213,231 | €372,130 | +€158,898 | +74.5% |
| Current portion of amounts payable after more than one year | 42 | €88,922 | €39,186 | -€49,737 | -55.9% |
| Trade debts | 44 | €2,474 | €10,065 | +€7,591 | +306.8% |
| Suppliers | 440/4 | €2,474 | €10,065 | +€7,591 | +306.8% |
| Advances received on contracts in progress | 46 | €510 | €2,045 | +€1,535 | +300.8% |
| Taxes, remuneration and social security | 45 | €121,325 | €145,834 | +€24,509 | +20.2% |
| Taxes | 450/3 | €61,742 | €96,204 | +€34,461 | +55.8% |
| Remuneration and social security | 454/9 | €59,583 | €49,630 | -€9,952 | -16.7% |
| Other amounts payable | 47/48 | - | €175,000 | +€175,000 | |
| Remuneration, social security and pensions | 62 | €583,416 | €528,735 | -€54,681 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,531 | €155,702 | +€4,172 | +2.8% |
| Other operating charges | 640/8 | €21,556 | €22,576 | +€1,019 | +4.7% |
| Gross operating margin | 9900 | €997,273 | €911,442 | -€85,831 | -8.6% |
| Operating profit (loss) | 9901 | €240,770 | €204,429 | -€36,341 | -15.1% |
| Financial income | 75/76B | €9,723 | €5,436 | -€4,287 | -44.1% |
| Recurring financial income | 75 | €9,723 | €5,436 | -€4,287 | -44.1% |
| Financial charges | 65/66B | €38,671 | €31,637 | -€7,034 | -18.2% |
| Recurring financial charges | 65 | €37,069 | €31,637 | -€5,432 | -14.7% |
| Non-recurring financial charges | 66B | €1,602 | - | -€1,602 | |
| Profit (loss) for the period before taxes | 9903 | €211,822 | €178,229 | -€33,593 | -15.9% |
| Income taxes | 67/77 | €46,438 | €44,970 | -€1,468 | -3.2% |
| Profit (loss) for the period | 9904 | €165,384 | €133,259 | -€32,125 | -19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €165,384 | €133,259 | -€32,125 | -19.4% |
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 5 October 2026 via checked.be.