ROCAGI: 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.
What changed
ROCAGI
NACE 10.712, Artisanal bread and fresh pastry making
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€37,635
2024 · €16,437+€21,198
Equity
€95,573
2024 · €77,937+€17,635
Cash
€8,796
2024 · €7,314+€1,482
Balance sheet total
€792,755
2024 · €855,213-€62,458
Largest movements
Assets
- Tangible fixed assets -€62,622
down €62,622 (-8.6%), from €726,685 to €664,062
of which Other tangible fixed assets: -€37,924
- Receivables within one year +€9,214
up €9,214 (+12.8%), from €72,230 to €81,444
of which Trade receivables: +€23,948
Equity and liabilities
- Debts after one year -€89,598
down €89,598 (-18.2%), from €492,869 to €403,271
- Profit (loss) carried forward +€11,485
up €11,485 (+69.9%), from €16,437 to €27,923
Income statement
- Staff costs -€70,184
down €70,184 (-18.8%), from €374,161 to €303,977
- Gross operating margin -€55,730
down €55,730 (-10.6%), from €524,646 to €468,916
- Taxes +€13,416
up €13,416 (+178.9%), from €7,500 to €20,916
- Financial charges -€7,679
down €7,679 (-22.0%), from €34,878 to €27,199
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.
Result 2024
€16,437
Gross operating margin
-€55,730
Staff costs
+€70,184
Depreciation
+€2,585
Other operating charges
-€959
Other operating items
+€14,673
Financial income
-€3,819
Financial charges
+€7,679
Taxes
-€13,416
Result 2025
€37,635
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.
From operations
+€109,685
Investment
-€2,688
Financing
-€105,514
Cash 2024
€7,314
From operations (derived)
+€109,685
Net result for the year
+€37,635
Depreciation
+€72,266
Stocks and contracts
+€604
Receivables within one year
-€9,214
Deferred charges and accrued income
+€2,973
Trade debts
+€8,213
Tax, wage and social debts
+€579
Other debts
-€3,433
Accrued charges and deferred income
+€62
Investment (derived)
-€2,688
Investment in fixed assets (net)
-€2,688
Financing
-€105,514
Debts after one year
-€89,598
Current portion of long-term debt
+€4,084
Contributions, distributions and other
-€20,000
Cash 2025
€8,796
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €855,213 | €792,755 | -€62,458 | -7.3% |
| Formation expenses | 20 | €26,997 | €20,042 | -€6,955 | -25.8% |
| Fixed assets | 21/28 | €729,685 | €667,062 | -€62,622 | -8.6% |
| Tangible fixed assets | 22/27 | €726,685 | €664,062 | -€62,622 | -8.6% |
| Plant, machinery and equipment | 23 | €122,689 | €100,330 | -€22,358 | -18.2% |
| Furniture and vehicles | 24 | €15,281 | €12,941 | -€2,340 | -15.3% |
| Other tangible fixed assets | 26 | €588,715 | €550,791 | -€37,924 | -6.4% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €98,531 | €105,650 | +€7,119 | +7.2% |
| Stocks and contracts in progress | 3 | €11,740 | €11,136 | -€604 | -5.1% |
| Stocks | 30/36 | €11,740 | €11,136 | -€604 | -5.1% |
| Amounts receivable within one year | 40/41 | €72,230 | €81,444 | +€9,214 | +12.8% |
| Trade receivables | 40 | €15,166 | €39,113 | +€23,948 | +157.9% |
| Other amounts receivable | 41 | €57,064 | €42,331 | -€14,733 | -25.8% |
| Cash at bank and in hand | 54/58 | €7,314 | €8,796 | +€1,482 | +20.3% |
| Deferred charges and accrued income | 490/1 | €7,248 | €4,275 | -€2,973 | -41.0% |
| Total equity and liabilities | 10/49 | €855,213 | €792,755 | -€62,458 | -7.3% |
| Equity | 10/15 | €77,937 | €95,573 | +€17,635 | +22.6% |
| 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 | - | €6,150 | +€6,150 | |
| Non-distributable reserves | 130/1 | - | €6,150 | +€6,150 | |
| Legal reserve | 130 | - | €6,150 | +€6,150 | |
| Profit (loss) carried forward | 14 | €16,437 | €27,923 | +€11,485 | +69.9% |
| Amounts payable | 17/49 | €777,276 | €697,182 | -€80,094 | -10.3% |
| Amounts payable after more than one year | 17 | €492,869 | €403,271 | -€89,598 | -18.2% |
| Financial debts | 170/4 | €492,869 | €403,271 | -€89,598 | -18.2% |
| Amounts payable within one year | 42/48 | €284,053 | €293,495 | +€9,442 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €85,514 | €89,598 | +€4,084 | +4.8% |
| Trade debts | 44 | €107,475 | €115,688 | +€8,213 | +7.6% |
| Suppliers | 440/4 | €107,475 | €115,688 | +€8,213 | +7.6% |
| Taxes, remuneration and social security | 45 | €46,218 | €46,797 | +€579 | +1.3% |
| Taxes | 450/3 | €36 | €916 | +€880 | +2452.3% |
| Remuneration and social security | 454/9 | €46,182 | €45,882 | -€301 | -0.7% |
| Other amounts payable | 47/48 | €44,845 | €41,412 | -€3,433 | -7.7% |
| Accrued charges and deferred income | 492/3 | €354 | €415 | +€62 | +17.4% |
| Non-recurring operating income | 76A | €8,166 | €3,051 | -€5,115 | -62.6% |
| Remuneration, social security and pensions | 62 | €374,161 | €303,977 | -€70,184 | -18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,852 | €72,266 | -€2,585 | -3.5% |
| Other operating charges | 640/8 | €3,236 | €4,195 | +€959 | +29.6% |
| Non-recurring operating charges | 66A | €17,401 | €2,729 | -€14,673 | -84.3% |
| Gross operating margin | 9900 | €524,646 | €468,916 | -€55,730 | -10.6% |
| Operating profit (loss) | 9901 | €54,996 | €85,749 | +€30,753 | +55.9% |
| Financial income | 75/76B | €3,819 | €0 | -€3,819 | -100.0% |
| Recurring financial income | 75 | €3,819 | €0 | -€3,819 | -100.0% |
| Financial charges | 65/66B | €34,878 | €27,199 | -€7,679 | -22.0% |
| Recurring financial charges | 65 | €34,878 | €27,199 | -€7,679 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | €23,937 | €58,551 | +€34,614 | +144.6% |
| Income taxes | 67/77 | €7,500 | €20,916 | +€13,416 | +178.9% |
| Profit (loss) for the period | 9904 | €16,437 | €37,635 | +€21,198 | +129.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,437 | €37,635 | +€21,198 | +129.0% |
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 8 October 2026 via checked.be.