ROGER: 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.
ROGER
Largest movements
- Receivables within one year +€248,897
up €248,897 (+233%), from €106,636 to €355,533
of which Trade receivables: +€274,118
- Intangible fixed assets -€93,364
down €93,364 (-43.3%), from €215,810 to €122,447
- Cash +€69,933
up €69,933 (+271%), from €25,785 to €95,719
mainly Net result for the year (+€433,132) and Depreciation (+€96,494)
- Profit (loss) carried forward +€433,132
up €433,132 (+21.2%), from -€2.0m to -€1.6m
- Other debts -€89,322
down €89,322 (-10.5%), from €848,852 to €759,530
- Trade debts -€68,757
down €68,757 (-37.9%), from €181,351 to €112,594
- Accrued charges and deferred income -€65,324
down €65,324 (-30.7%), from €212,967 to €147,642
- Tax, wage and social debts +€11,475
up €11,475 (+3,187%), from €360 to €11,835
of which Taxes: +€11,475
- Gross operating margin +€506,590
up €506,590 (+496%), from €102,078 to €608,668
- Staff costs -€121,781
down €121,781 (-98.9%), from €123,159 to €1,378
- Depreciation -€26,333
down €26,333 (-21.4%), from €122,827 to €96,494
- Financial charges +€12,830
up €12,830 (+35.2%), from €36,454 to €49,284
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 | €354,158 | €576,218 | +€222,059 | +62.7% |
| Fixed assets | 21/28 | €221,151 | €124,680 | -€96,471 | -43.6% |
| Intangible fixed assets | 21 | €215,810 | €122,447 | -€93,364 | -43.3% |
| Tangible fixed assets | 22/27 | €5,341 | €2,234 | -€3,107 | -58.2% |
| Furniture and vehicles | 24 | €5,341 | €2,234 | -€3,107 | -58.2% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €133,008 | €451,537 | +€318,530 | +239% |
| Amounts receivable within one year | 40/41 | €106,636 | €355,533 | +€248,897 | +233% |
| Trade receivables | 40 | €80,000 | €354,118 | +€274,118 | +343% |
| Other amounts receivable | 41 | €26,636 | €1,415 | -€25,221 | -94.7% |
| Cash at bank and in hand | 54/58 | €25,785 | €95,719 | +€69,933 | +271% |
| Deferred charges and accrued income | 490/1 | €586 | €285 | -€301 | -51.3% |
| Total equity and liabilities | 10/49 | €354,158 | €576,218 | +€222,059 | +62.7% |
| Equity | 10/15 | -€1,171,795 | -€738,663 | +€433,132 | +37.0% |
| Contributions | 10/11 | €868,600 | €868,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,040,395 | -€1,607,263 | +€433,132 | +21.2% |
| Amounts payable | 17/49 | €1,525,954 | €1,314,880 | -€211,073 | -13.8% |
| Amounts payable after more than one year | 17 | €281,266 | €283,280 | +€2,014 | +0.7% |
| Financial debts | 170/4 | €281,266 | €283,280 | +€2,014 | +0.7% |
| Amounts payable within one year | 42/48 | €1,031,721 | €883,958 | -€147,763 | -14.3% |
| Financial debts | 43 | €1,158 | €0 | -€1,158 | -100% |
| Credit institutions | 430/8 | €1,158 | €0 | -€1,158 | -100% |
| Trade debts | 44 | €181,351 | €112,594 | -€68,757 | -37.9% |
| Suppliers | 440/4 | €181,351 | €112,594 | -€68,757 | -37.9% |
| Taxes, remuneration and social security | 45 | €360 | €11,835 | +€11,475 | +3,187% |
| Taxes | 450/3 | €360 | €11,835 | +€11,475 | +3,187% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €848,852 | €759,530 | -€89,322 | -10.5% |
| Accrued charges and deferred income | 492/3 | €212,967 | €147,642 | -€65,324 | -30.7% |
| Non-recurring operating income | 76A | €25,807 | €300,281 | +€274,474 | +1,064% |
| Remuneration, social security and pensions | 62 | €123,159 | €1,378 | -€121,781 | -98.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,827 | €96,494 | -€26,333 | -21.4% |
| Other operating charges | 640/8 | €736 | €855 | +€119 | +16.2% |
| Non-recurring operating charges | 66A | €0 | €31,217 | +€31,217 | |
| Gross operating margin | 9900 | €102,078 | €608,668 | +€506,590 | +496% |
| Operating profit (loss) | 9901 | -€144,645 | €478,724 | +€623,369 | |
| Financial income | 75/76B | €0 | €3,694 | +€3,694 | +36,942,600% |
| Recurring financial income | 75 | €0 | €3,694 | +€3,694 | +36,942,600% |
| Financial charges | 65/66B | €36,454 | €49,284 | +€12,830 | +35.2% |
| Recurring financial charges | 65 | €36,454 | €49,284 | +€12,830 | +35.2% |
| Profit (loss) for the period before taxes | 9903 | -€181,099 | €433,135 | +€614,233 | |
| Income taxes | 67/77 | €360 | €3 | -€357 | -99.2% |
| Profit (loss) for the period | 9904 | -€181,459 | €433,132 | +€614,591 | |
| Profit (loss) for the period to be appropriated | 9905 | -€181,459 | €433,132 | +€614,591 |
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 16 October 2026 via checked.be.