Rodeo: 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.
Rodeo
Largest movements
- Tangible fixed assets +€75,428
up €75,428 (+8.5%), from €892,002 to €967,431
of which Furniture and vehicles: +€43,657
- Stocks and contracts +€30,180
up €30,180 (+57.0%), from €52,974 to €83,154
- Cash +€22,827
up €22,827 (+26.0%), from €87,925 to €110,751
mainly Other debts (+€152,559) and Net result for the year (+€64,387)
- Other debts +€152,559
up €152,559 (+94.9%), from €160,707 to €313,266
- Tax, wage and social debts -€17,550
down €17,550 (-72.7%), from €24,152 to €6,602
of which Taxes: -€18,250
- Debts after one year -€15,971
down €15,971 (-31.9%), from €50,039 to €34,068
- Trade debts +€13,821
up €13,821 (+29.7%), from €46,538 to €60,360
- Write-downs +€25,488
new in 2025: €25,488
- Depreciation +€18,680
up €18,680 (+51.8%), from €36,042 to €54,722
- Gross operating margin +€14,418
up €14,418 (+7.7%), from €188,257 to €202,675
- Taxes -€13,834
down €13,834 (-35.0%), from €39,553 to €25,719
- Financial charges +€6,626
up €6,626 (+99.7%), from €6,646 to €13,273
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 | €1,099,236 | €1,223,222 | +€123,986 | +11.3% |
| Fixed assets | 21/28 | €892,002 | €967,431 | +€75,428 | +8.5% |
| Tangible fixed assets | 22/27 | €892,002 | €967,431 | +€75,428 | +8.5% |
| Land and buildings | 22 | €802,251 | €833,583 | +€31,332 | +3.9% |
| Plant, machinery and equipment | 23 | €8,440 | €8,879 | +€439 | +5.2% |
| Furniture and vehicles | 24 | €81,311 | €124,968 | +€43,657 | +53.7% |
| Current assets | 29/58 | €207,234 | €255,791 | +€48,558 | +23.4% |
| Stocks and contracts in progress | 3 | €52,974 | €83,154 | +€30,180 | +57.0% |
| Stocks | 30/36 | €52,974 | €83,154 | +€30,180 | +57.0% |
| Amounts receivable within one year | 40/41 | €62,914 | €54,424 | -€8,490 | -13.5% |
| Trade receivables | 40 | €62,064 | €54,424 | -€7,640 | -12.3% |
| Other amounts receivable | 41 | €850 | €0 | -€850 | -100% |
| Cash at bank and in hand | 54/58 | €87,925 | €110,751 | +€22,827 | +26.0% |
| Deferred charges and accrued income | 490/1 | €3,422 | €7,462 | +€4,040 | +118% |
| Total equity and liabilities | 10/49 | €1,099,236 | €1,223,222 | +€123,986 | +11.3% |
| Equity | 10/15 | €798,805 | €791,471 | -€7,334 | -0.9% |
| Contributions | 10/11 | €333,000 | €333,000 | = | 0.0% |
| Capital | 10 | €333,000 | €333,000 | = | 0.0% |
| Issued capital | 100 | €333,000 | €333,000 | = | 0.0% |
| Reserves | 13 | €345,255 | €338,754 | -€6,501 | -1.9% |
| Non-distributable reserves | 130/1 | €33,300 | €33,300 | = | 0.0% |
| Legal reserve | 130 | €33,300 | €33,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,305 | €8,305 | = | 0.0% |
| Distributable reserves | 133 | €303,650 | €297,149 | -€6,501 | -2.1% |
| Profit (loss) carried forward | 14 | €120,549 | €119,716 | -€833 | -0.7% |
| Amounts payable | 17/49 | €300,431 | €431,751 | +€131,320 | +43.7% |
| Amounts payable after more than one year | 17 | €50,039 | €34,068 | -€15,971 | -31.9% |
| Financial debts | 170/4 | €50,039 | €34,068 | -€15,971 | -31.9% |
| Amounts payable within one year | 42/48 | €250,154 | €397,499 | +€147,345 | +58.9% |
| Current portion of amounts payable after more than one year | 42 | €18,757 | €17,271 | -€1,486 | -7.9% |
| Trade debts | 44 | €46,538 | €60,360 | +€13,821 | +29.7% |
| Suppliers | 440/4 | €46,538 | €60,360 | +€13,821 | +29.7% |
| Taxes, remuneration and social security | 45 | €24,152 | €6,602 | -€17,550 | -72.7% |
| Taxes | 450/3 | €24,152 | €5,902 | -€18,250 | -75.6% |
| Remuneration and social security | 454/9 | - | €700 | +€700 | |
| Other amounts payable | 47/48 | €160,707 | €313,266 | +€152,559 | +94.9% |
| Accrued charges and deferred income | 492/3 | €238 | €184 | -€55 | -22.9% |
| Non-recurring operating income | 76A | €0 | €11,000 | +€11,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,042 | €54,722 | +€18,680 | +51.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €25,488 | +€25,488 | |
| Other operating charges | 640/8 | €20,945 | €20,069 | -€876 | -4.2% |
| Gross operating margin | 9900 | €188,257 | €202,675 | +€14,418 | +7.7% |
| Operating profit (loss) | 9901 | €131,269 | €102,395 | -€28,874 | -22.0% |
| Financial income | 75/76B | €1,472 | €984 | -€488 | -33.2% |
| Recurring financial income | 75 | €1,472 | €984 | -€488 | -33.2% |
| Financial charges | 65/66B | €6,646 | €13,273 | +€6,626 | +99.7% |
| Recurring financial charges | 65 | €6,646 | €13,273 | +€6,626 | +99.7% |
| Profit (loss) for the period before taxes | 9903 | €126,094 | €90,106 | -€35,988 | -28.5% |
| Income taxes | 67/77 | €39,553 | €25,719 | -€13,834 | -35.0% |
| Profit (loss) for the period | 9904 | €86,541 | €64,387 | -€22,154 | -25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €86,541 | €64,387 | -€22,154 | -25.6% |
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 29 October 2026 via checked.be.