ROCADE: 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.
ROCADE
Largest movements
- Receivables after one year +€948,984
up €948,984 (+104%), from €909,960 to €1.9m
- Receivables within one year -€270,516
down €270,516 (-72.9%), from €371,023 to €100,507
of which Other amounts receivable: -€270,842
- Cash +€192,982
up €192,982 (+72.9%), from €264,773 to €457,756
mainly Debts after one year (+€423,995) and Net result for the year (+€288,173)
- Debts after one year +€423,995
up €423,995 (+12.4%), from €3.4m to €3.8m
of which Other amounts payable: +€286,470
- Reserves +€288,173
up €288,173 (+17.1%), from €1.7m to €2.0m
- Accrued charges and deferred income +€114,565
up €114,565 (+82.6%), from €138,771 to €253,336
- Gross operating margin +€403,195
up €403,195 (+170%), from €237,692 to €640,886
- Taxes +€122,052
up €122,052 (+1,628%), from €7,498 to €129,550
- Other operating charges +€40,624
up €40,624 (+2,097%), from €1,938 to €42,562
- Financial income +€20,012
up €20,012 (+77.2%), from €25,906 to €45,918
- Financial charges -€9,017
down €9,017 (-4.0%), from €227,599 to €218,581
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 | €5,903,561 | €6,748,389 | +€844,828 | +14.3% |
| Fixed assets | 21/28 | €294,919 | €287,558 | -€7,361 | -2.5% |
| Tangible fixed assets | 22/27 | €294,919 | €287,558 | -€7,361 | -2.5% |
| Land and buildings | 22 | €294,919 | €287,558 | -€7,361 | -2.5% |
| Current assets | 29/58 | €5,608,642 | €6,460,831 | +€852,190 | +15.2% |
| Amounts receivable after more than one year | 29 | €909,960 | €1,858,944 | +€948,984 | +104% |
| Other amounts receivable | 291 | €909,960 | €1,858,944 | +€948,984 | +104% |
| Stocks and contracts in progress | 3 | €4,062,346 | €4,039,919 | -€22,427 | -0.6% |
| Stocks | 30/36 | €4,062,346 | €4,039,919 | -€22,427 | -0.6% |
| Amounts receivable within one year | 40/41 | €371,023 | €100,507 | -€270,516 | -72.9% |
| Trade receivables | 40 | €697 | €1,023 | +€326 | +46.8% |
| Other amounts receivable | 41 | €370,325 | €99,483 | -€270,842 | -73.1% |
| Cash at bank and in hand | 54/58 | €264,773 | €457,756 | +€192,982 | +72.9% |
| Deferred charges and accrued income | 490/1 | €540 | €3,707 | +€3,167 | +586% |
| Total equity and liabilities | 10/49 | €5,903,561 | €6,748,389 | +€844,828 | +14.3% |
| Equity | 10/15 | €1,993,139 | €2,281,312 | +€288,173 | +14.5% |
| Contributions | 10/11 | €29,031 | €29,031 | = | 0.0% |
| Reserves | 13 | €1,684,501 | €1,972,674 | +€288,173 | +17.1% |
| Distributable reserves | 133 | €1,684,501 | €1,972,674 | +€288,173 | +17.1% |
| Profit (loss) carried forward | 14 | €279,607 | €279,607 | = | 0.0% |
| Amounts payable | 17/49 | €3,910,421 | €4,467,077 | +€556,655 | +14.2% |
| Amounts payable after more than one year | 17 | €3,413,614 | €3,837,609 | +€423,995 | +12.4% |
| Financial debts | 170/4 | €2,068,458 | €2,205,983 | +€137,525 | +6.6% |
| Other amounts payable | 178/9 | €1,345,156 | €1,631,626 | +€286,470 | +21.3% |
| Amounts payable within one year | 42/48 | €358,036 | €376,131 | +€18,095 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €12,281 | €12,475 | +€194 | +1.6% |
| Financial debts | 43 | €300,000 | €300,000 | = | 0.0% |
| Credit institutions | 430/8 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €3,061 | €929 | -€2,132 | -69.6% |
| Suppliers | 440/4 | €3,061 | €929 | -€2,132 | -69.6% |
| Taxes, remuneration and social security | 45 | €42,695 | €62,224 | +€19,530 | +45.7% |
| Taxes | 450/3 | €42,695 | €62,224 | +€19,530 | +45.7% |
| Other amounts payable | 47/48 | €0 | €503 | +€503 | |
| Accrued charges and deferred income | 492/3 | €138,771 | €253,336 | +€114,565 | +82.6% |
| Non-recurring operating income | 76A | €3,854 | €0 | -€3,854 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,361 | €7,361 | = | 0.0% |
| Other operating charges | 640/8 | €1,938 | €42,562 | +€40,624 | +2,097% |
| Non-recurring operating charges | 66A | - | €577 | +€577 | |
| Gross operating margin | 9900 | €237,692 | €640,886 | +€403,195 | +170% |
| Operating profit (loss) | 9901 | €228,393 | €590,386 | +€361,993 | +158% |
| Financial income | 75/76B | €25,906 | €45,918 | +€20,012 | +77.2% |
| Recurring financial income | 75 | €25,906 | €45,918 | +€20,012 | +77.2% |
| Financial charges | 65/66B | €227,599 | €218,581 | -€9,017 | -4.0% |
| Recurring financial charges | 65 | €227,599 | €218,581 | -€9,017 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €26,700 | €417,723 | +€391,022 | +1,464% |
| Income taxes | 67/77 | €7,498 | €129,550 | +€122,052 | +1,628% |
| Profit (loss) for the period | 9904 | €19,202 | €288,173 | +€268,971 | +1,401% |
| Profit (loss) for the period to be appropriated | 9905 | €19,202 | €288,173 | +€268,971 | +1,401% |
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 15 October 2026 via checked.be.