Rodolphe Moraine: 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.
Rodolphe Moraine
Largest movements
- Tangible fixed assets -€15,255
down €15,255 (-22.9%), from €66,584 to €51,330
of which Furniture and vehicles: -€13,342
- Receivables within one year -€9,626
down €9,626 (-38.5%), from €24,995 to €15,369
of which Trade receivables: -€7,323
- Cash -€2,592
down €2,592 (-5.5%), from €47,144 to €44,552
mainly Contributions, distributions and other (-€60,000) and Debts after one year (-€9,672)
- Profit (loss) carried forward -€41,862
down €41,862 (-58.9%), from €71,112 to €29,250
- Other debts +€26,340
new in 2025: €26,340
- Debts after one year -€9,672
down €9,672 (-29.2%), from €33,076 to €23,404
- Current portion of long-term debt -€2,742
down €2,742 (-22.1%), from €12,414 to €9,672
- Gross operating margin -€36,263
down €36,263 (-46.5%), from €77,952 to €41,689
- Taxes -€8,130
down €8,130 (-56.2%), from €14,458 to €6,328
- Depreciation +€2,796
up €2,796 (+22.4%), from €12,459 to €15,255
- Other operating charges -€2,207
no longer reported in 2025 (was €2,207)
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 | €138,723 | €111,251 | -€27,473 | -19.8% |
| Fixed assets | 21/28 | €66,584 | €51,330 | -€15,255 | -22.9% |
| Tangible fixed assets | 22/27 | €66,584 | €51,330 | -€15,255 | -22.9% |
| Plant, machinery and equipment | 23 | €3,802 | €2,475 | -€1,327 | -34.9% |
| Furniture and vehicles | 24 | €58,640 | €45,297 | -€13,342 | -22.8% |
| Other tangible fixed assets | 26 | €4,143 | €3,557 | -€586 | -14.1% |
| Current assets | 29/58 | €72,139 | €59,921 | -€12,218 | -16.9% |
| Amounts receivable within one year | 40/41 | €24,995 | €15,369 | -€9,626 | -38.5% |
| Trade receivables | 40 | €19,020 | €11,697 | -€7,323 | -38.5% |
| Other amounts receivable | 41 | €5,976 | €3,672 | -€2,304 | -38.6% |
| Cash at bank and in hand | 54/58 | €47,144 | €44,552 | -€2,592 | -5.5% |
| Total equity and liabilities | 10/49 | €138,723 | €111,251 | -€27,473 | -19.8% |
| Equity | 10/15 | €72,112 | €30,250 | -€41,862 | -58.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,112 | €29,250 | -€41,862 | -58.9% |
| Amounts payable | 17/49 | €66,611 | €81,001 | +€14,390 | +21.6% |
| Amounts payable after more than one year | 17 | €33,076 | €23,404 | -€9,672 | -29.2% |
| Financial debts | 170/4 | €33,076 | €23,404 | -€9,672 | -29.2% |
| Amounts payable within one year | 42/48 | €33,535 | €57,597 | +€24,062 | +71.8% |
| Current portion of amounts payable after more than one year | 42 | €12,414 | €9,672 | -€2,742 | -22.1% |
| Trade debts | 44 | €2,274 | €1,493 | -€781 | -34.3% |
| Suppliers | 440/4 | €2,274 | €1,493 | -€781 | -34.3% |
| Taxes, remuneration and social security | 45 | €18,848 | €20,092 | +€1,244 | +6.6% |
| Taxes | 450/3 | €18,848 | €20,092 | +€1,244 | +6.6% |
| Other amounts payable | 47/48 | - | €26,340 | +€26,340 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,459 | €15,255 | +€2,796 | +22.4% |
| Other operating charges | 640/8 | €2,207 | - | -€2,207 | |
| Gross operating margin | 9900 | €77,952 | €41,689 | -€36,263 | -46.5% |
| Operating profit (loss) | 9901 | €63,285 | €26,434 | -€36,851 | -58.2% |
| Financial income | 75/76B | €261 | - | -€261 | |
| Recurring financial income | 75 | €261 | - | -€261 | |
| Financial charges | 65/66B | €2,163 | €1,969 | -€195 | -9.0% |
| Recurring financial charges | 65 | €2,163 | €1,969 | -€195 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €61,383 | €24,466 | -€36,918 | -60.1% |
| Income taxes | 67/77 | €14,458 | €6,328 | -€8,130 | -56.2% |
| Profit (loss) for the period | 9904 | €46,925 | €18,138 | -€28,787 | -61.3% |
| Profit (loss) for the period to be appropriated | 9905 | €46,925 | €18,138 | -€28,787 | -61.3% |
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 31 October 2026 via checked.be.