ROJO: what changed
Two fiscal 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.
ROJO
Largest movements
- Cash +€261,596
up €261,596 (+169.2%), from €154,614 to €416,210
mainly Current investments (+€150,000) and Net result for the year (+€77,286)
- Current investments -€150,000
down €150,000 (-100.0%), from €150,000 to €0
- Receivables within one year -€27,064
down €27,064 (-37.1%), from €72,980 to €45,915
of which Trade receivables: -€13,534
- Tangible fixed assets -€19,217
down €19,217 (-29.3%), from €65,596 to €46,378
- Stocks and contracts +€7,442
up €7,442 (+5.4%), from €138,926 to €146,368
- Reserves +€75,620
up €75,620 (+29.7%), from €254,218 to €329,838
of which Distributable reserves: +€75,620
- Trade debts -€29,153
down €29,153 (-15.8%), from €184,271 to €155,118
- Other debts +€19,624
up €19,624 (+28.3%), from €69,462 to €89,086
- Tax, wage and social debts +€9,460
up €9,460 (+31.1%), from €30,421 to €39,881
of which Taxes: +€5,738
- Debts after one year -€7,408
down €7,408 (-30.2%), from €24,539 to €17,131
- Gross operating margin +€88,247
up €88,247 (+52.6%), from €167,769 to €256,016
- Taxes +€19,899
up €19,899 (+213.2%), from €9,332 to €29,231
- Staff costs +€12,388
up €12,388 (+12.4%), from €99,784 to €112,172
- Financial income +€3,382
up €3,382 (+484.4%), from €698 to €4,081
- Financial charges +€2,798
up €2,798 (+27.8%), from €10,049 to €12,847
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 | €593,022 | €665,826 | +€72,804 | +12.3% |
| Fixed assets | 21/28 | €70,005 | €50,787 | -€19,217 | -27.5% |
| Tangible fixed assets | 22/27 | €65,596 | €46,378 | -€19,217 | -29.3% |
| Land and buildings | 22 | €2,170 | €930 | -€1,240 | -57.1% |
| Plant, machinery and equipment | 23 | €31,957 | €22,421 | -€9,536 | -29.8% |
| Furniture and vehicles | 24 | €31,469 | €23,027 | -€8,442 | -26.8% |
| Financial fixed assets | 28 | €4,409 | €4,409 | = | 0.0% |
| Current assets | 29/58 | €523,017 | €615,039 | +€92,021 | +17.6% |
| Stocks and contracts in progress | 3 | €138,926 | €146,368 | +€7,442 | +5.4% |
| Stocks | 30/36 | €138,926 | €146,368 | +€7,442 | +5.4% |
| Amounts receivable within one year | 40/41 | €72,980 | €45,915 | -€27,064 | -37.1% |
| Trade receivables | 40 | €59,450 | €45,915 | -€13,534 | -22.8% |
| Other amounts receivable | 41 | €13,530 | €0 | -€13,530 | -100.0% |
| Current investments | 50/53 | €150,000 | €0 | -€150,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €154,614 | €416,210 | +€261,596 | +169.2% |
| Deferred charges and accrued income | 490/1 | €6,498 | €6,546 | +€48 | +0.7% |
| Total equity and liabilities | 10/49 | €593,022 | €665,826 | +€72,804 | +12.3% |
| Equity | 10/15 | €272,810 | €348,430 | +€75,620 | +27.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €254,218 | €329,838 | +€75,620 | +29.7% |
| Tax-exempt reserves | 132 | €65,620 | €65,620 | = | 0.0% |
| Distributable reserves | 133 | €188,599 | €264,219 | +€75,620 | +40.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €320,212 | €317,396 | -€2,816 | -0.9% |
| Amounts payable after more than one year | 17 | €24,539 | €17,131 | -€7,408 | -30.2% |
| Financial debts | 170/4 | €24,539 | €17,131 | -€7,408 | -30.2% |
| Amounts payable within one year | 42/48 | €295,673 | €300,071 | +€4,398 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €7,111 | €7,408 | +€297 | +4.2% |
| Financial debts | 43 | €4,409 | €8,579 | +€4,169 | +94.6% |
| Credit institutions | 430/8 | €4,409 | €8,579 | +€4,169 | +94.6% |
| Trade debts | 44 | €184,271 | €155,118 | -€29,153 | -15.8% |
| Suppliers | 440/4 | €184,271 | €155,118 | -€29,153 | -15.8% |
| Taxes, remuneration and social security | 45 | €30,421 | €39,881 | +€9,460 | +31.1% |
| Taxes | 450/3 | €22,830 | €28,569 | +€5,738 | +25.1% |
| Remuneration and social security | 454/9 | €7,591 | €11,312 | +€3,721 | +49.0% |
| Other amounts payable | 47/48 | €69,462 | €89,086 | +€19,624 | +28.3% |
| Accrued charges and deferred income | 492/3 | - | €194 | +€194 | |
| Remuneration, social security and pensions | 62 | €99,784 | €112,172 | +€12,388 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,913 | €20,645 | +€731 | +3.7% |
| Other operating charges | 640/8 | €8,360 | €7,916 | -€444 | -5.3% |
| Gross operating margin | 9900 | €167,769 | €256,016 | +€88,247 | +52.6% |
| Operating profit (loss) | 9901 | €39,711 | €115,283 | +€75,572 | +190.3% |
| Financial income | 75/76B | €698 | €4,081 | +€3,382 | +484.4% |
| Recurring financial income | 75 | €698 | €4,081 | +€3,382 | +484.4% |
| Financial charges | 65/66B | €10,049 | €12,847 | +€2,798 | +27.8% |
| Recurring financial charges | 65 | €10,049 | €12,847 | +€2,798 | +27.8% |
| Profit (loss) for the period before taxes | 9903 | €30,361 | €106,517 | +€76,157 | +250.8% |
| Income taxes | 67/77 | €9,332 | €29,231 | +€19,899 | +213.2% |
| Profit (loss) for the period | 9904 | €21,029 | €77,286 | +€56,257 | +267.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,029 | €77,286 | +€56,257 | +267.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.