ROFCO: 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.
ROFCO
Largest movements
- Cash -€350,778
down €350,778 (-35.2%), from €995,411 to €644,633
mainly Investment in fixed assets (net) (-€232,774) and Other debts (-€162,660)
- Tangible fixed assets +€179,529
up €179,529 (+171.5%), from €104,683 to €284,212
of which Plant, machinery and equipment: +€157,091
- Stocks and contracts +€64,555
up €64,555 (+24.5%), from €263,454 to €328,009
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Receivables within one year +€35,547
up €35,547 (+88.0%), from €40,398 to €75,945
of which Trade receivables: +€25,417
- Other debts -€162,660
down €162,660 (-56.5%), from €287,983 to €125,324
- Trade debts +€57,927
up €57,927 (+199.6%), from €29,028 to €86,955
- Current portion of long-term debt -€21,287
no longer reported in 2025 (was €21,287)
- Gross operating margin -€187,788
down €187,788 (-26.2%), from €715,561 to €527,773
- Taxes -€54,792
down €54,792 (-57.2%), from €95,859 to €41,067
- Staff costs +€33,314
up €33,314 (+11.6%), from €286,433 to €319,747
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 | €1,478,148 | €1,362,318 | -€115,830 | -7.8% |
| Fixed assets | 21/28 | €128,885 | €313,730 | +€184,845 | +143.4% |
| Intangible fixed assets | 21 | €23,722 | €29,038 | +€5,316 | +22.4% |
| Tangible fixed assets | 22/27 | €104,683 | €284,212 | +€179,529 | +171.5% |
| Plant, machinery and equipment | 23 | €99,310 | €256,401 | +€157,091 | +158.2% |
| Furniture and vehicles | 24 | €3,720 | €26,123 | +€22,403 | +602.2% |
| Other tangible fixed assets | 26 | €1,653 | €1,689 | +€35 | +2.1% |
| Financial fixed assets | 28 | €480 | €480 | = | 0.0% |
| Current assets | 29/58 | €1,349,263 | €1,048,587 | -€300,676 | -22.3% |
| Stocks and contracts in progress | 3 | €263,454 | €328,009 | +€64,555 | +24.5% |
| Stocks | 30/36 | €263,454 | €328,009 | +€64,555 | +24.5% |
| Amounts receivable within one year | 40/41 | €40,398 | €75,945 | +€35,547 | +88.0% |
| Trade receivables | 40 | €8,425 | €33,842 | +€25,417 | +301.7% |
| Other amounts receivable | 41 | €31,973 | €42,104 | +€10,131 | +31.7% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €995,411 | €644,633 | -€350,778 | -35.2% |
| Total equity and liabilities | 10/49 | €1,478,148 | €1,362,318 | -€115,830 | -7.8% |
| Equity | 10/15 | €1,097,563 | €1,097,563 | = | 0.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €588,896 | €588,896 | = | 0.0% |
| Distributable reserves | 133 | €588,896 | €588,896 | = | 0.0% |
| Profit (loss) carried forward | 14 | €496,267 | €496,267 | = | 0.0% |
| Amounts payable | 17/49 | €380,585 | €264,754 | -€115,830 | -30.4% |
| Amounts payable within one year | 42/48 | €380,585 | €264,754 | -€115,830 | -30.4% |
| Current portion of amounts payable after more than one year | 42 | €21,287 | - | -€21,287 | |
| Trade debts | 44 | €29,028 | €86,955 | +€57,927 | +199.6% |
| Suppliers | 440/4 | €29,028 | €86,955 | +€57,927 | +199.6% |
| Advances received on contracts in progress | 46 | - | €2,435 | +€2,435 | |
| Taxes, remuneration and social security | 45 | €42,287 | €50,041 | +€7,754 | +18.3% |
| Taxes | 450/3 | €5,342 | €10,690 | +€5,348 | +100.1% |
| Remuneration and social security | 454/9 | €36,945 | €39,351 | +€2,406 | +6.5% |
| Other amounts payable | 47/48 | €287,983 | €125,324 | -€162,660 | -56.5% |
| Remuneration, social security and pensions | 62 | €286,433 | €319,747 | +€33,314 | +11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,248 | €47,929 | -€6,319 | -11.6% |
| Other operating charges | 640/8 | €3,451 | €3,490 | +€39 | +1.1% |
| Gross operating margin | 9900 | €715,561 | €527,773 | -€187,788 | -26.2% |
| Operating profit (loss) | 9901 | €371,430 | €156,607 | -€214,823 | -57.8% |
| Financial income | 75/76B | €12,480 | €10,197 | -€2,283 | -18.3% |
| Recurring financial income | 75 | €12,480 | €10,197 | -€2,283 | -18.3% |
| Financial charges | 65/66B | €964 | €1,118 | +€153 | +15.9% |
| Recurring financial charges | 65 | €964 | €1,118 | +€153 | +15.9% |
| Profit (loss) for the period before taxes | 9903 | €382,946 | €165,686 | -€217,259 | -56.7% |
| Income taxes | 67/77 | €95,859 | €41,067 | -€54,792 | -57.2% |
| Profit (loss) for the period | 9904 | €287,086 | €124,619 | -€162,467 | -56.6% |
| Profit (loss) for the period to be appropriated | 9905 | €287,086 | €124,619 | -€162,467 | -56.6% |
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 10 October 2026 via checked.be.