ROGECO: what changed
ROGECO
Largest movements
- Receivables within one year +€470,069
up €470,069 (+73.1%), from €642,982 to €1.1m
of which Trade receivables: +€757,633
- Tangible fixed assets +€46,024
up €46,024 (+7.5%), from €610,463 to €656,487
of which Plant, machinery and equipment: +€69,079
- Cash -€31,234
down €31,234 (-4.4%), from €712,514 to €681,280
mainly Receivables within one year (-€470,069) and Current portion of long-term debt (-€99,402)
- Reserves +€483,771
up €483,771 (+43.3%), from €1.1m to €1.6m
of which Distributable reserves: +€483,771
- Short-term financial debts +€124,949
new in 2025: €124,949
- Trade debts +€101,970
up €101,970 (+31.3%), from €325,865 to €427,835
- Current portion of long-term debt -€99,402
down €99,402 (-70.7%), from €140,537 to €41,136
- Tax, wage and social debts -€78,013
down €78,013 (-43.2%), from €180,647 to €102,634
of which Taxes: -€73,422
- Write-downs -€70,948
no longer reported in 2025 (was €70,948)
- Financial income -€46,817
down €46,817 (-92.7%), from €50,492 to €3,674
- Gross operating margin +€19,504
up €19,504 (+2.0%), from €960,036 to €979,541
- Other operating charges +€15,451
up €15,451 (+50.0%), from €30,884 to €46,336
- Financial charges -€14,569
down €14,569 (-72.2%), from €20,169 to €5,599
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,018,884 | €2,503,742 | +€484,858 | +24.0% |
| Fixed assets | 21/28 | €613,388 | €659,412 | +€46,024 | +7.5% |
| Tangible fixed assets | 22/27 | €610,463 | €656,487 | +€46,024 | +7.5% |
| Land and buildings | 22 | €464,053 | €455,600 | -€8,452 | -1.8% |
| Plant, machinery and equipment | 23 | €28,344 | €97,422 | +€69,079 | +244% |
| Furniture and vehicles | 24 | €118,067 | €103,464 | -€14,603 | -12.4% |
| Financial fixed assets | 28 | €2,925 | €2,925 | = | 0.0% |
| Current assets | 29/58 | €1,405,496 | €1,844,330 | +€438,834 | +31.2% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €642,982 | €1,113,051 | +€470,069 | +73.1% |
| Trade receivables | 40 | €345,889 | €1,103,522 | +€757,633 | +219% |
| Other amounts receivable | 41 | €297,093 | €9,529 | -€287,564 | -96.8% |
| Cash at bank and in hand | 54/58 | €712,514 | €681,280 | -€31,234 | -4.4% |
| Total equity and liabilities | 10/49 | €2,018,884 | €2,503,742 | +€484,858 | +24.0% |
| Equity | 10/15 | €1,123,193 | €1,606,964 | +€483,771 | +43.1% |
| Contributions | 10/11 | €6,750 | €6,750 | = | 0.0% |
| Reserves | 13 | €1,116,443 | €1,600,214 | +€483,771 | +43.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,114,583 | €1,598,354 | +€483,771 | +43.4% |
| Amounts payable | 17/49 | €895,691 | €896,778 | +€1,087 | +0.1% |
| Amounts payable after more than one year | 17 | €248,026 | €200,000 | -€48,026 | -19.4% |
| Financial debts | 170/4 | €248,026 | €200,000 | -€48,026 | -19.4% |
| Amounts payable within one year | 42/48 | €647,665 | €696,554 | +€48,889 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €140,537 | €41,136 | -€99,402 | -70.7% |
| Financial debts | 43 | - | €124,949 | +€124,949 | |
| Credit institutions | 430/8 | - | €124,949 | +€124,949 | |
| Trade debts | 44 | €325,865 | €427,835 | +€101,970 | +31.3% |
| Suppliers | 440/4 | €325,865 | €427,835 | +€101,970 | +31.3% |
| Taxes, remuneration and social security | 45 | €180,647 | €102,634 | -€78,013 | -43.2% |
| Taxes | 450/3 | €176,056 | €102,634 | -€73,422 | -41.7% |
| Remuneration and social security | 454/9 | €4,590 | - | -€4,590 | |
| Other amounts payable | 47/48 | €616 | - | -€616 | |
| Accrued charges and deferred income | 492/3 | - | €224 | +€224 | |
| Remuneration, social security and pensions | 62 | €136,225 | €136,990 | +€765 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,768 | €50,884 | -€2,884 | -5.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €70,948 | - | -€70,948 | |
| Other operating charges | 640/8 | €30,884 | €46,336 | +€15,451 | +50.0% |
| Gross operating margin | 9900 | €960,036 | €979,541 | +€19,504 | +2.0% |
| Operating profit (loss) | 9901 | €668,211 | €745,331 | +€77,119 | +11.5% |
| Financial income | 75/76B | €50,492 | €3,674 | -€46,817 | -92.7% |
| Recurring financial income | 75 | €50,492 | €3,674 | -€46,817 | -92.7% |
| Financial charges | 65/66B | €20,169 | €5,599 | -€14,569 | -72.2% |
| Recurring financial charges | 65 | €20,169 | €5,599 | -€14,569 | -72.2% |
| Profit (loss) for the period before taxes | 9903 | €698,534 | €743,406 | +€44,872 | +6.4% |
| Income taxes | 67/77 | €267,389 | €259,635 | -€7,754 | -2.9% |
| Profit (loss) for the period | 9904 | €431,146 | €483,771 | +€52,625 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €431,146 | €483,771 | +€52,625 | +12.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.