ROMAIN DEBARDAGES: 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.
ROMAIN DEBARDAGES
Largest movements
- Tangible fixed assets +€103,983
up €103,983 (+119%), from €87,626 to €191,609
of which Other tangible fixed assets: +€127,727
- Receivables within one year -€9,698
down €9,698 (-19.6%), from €49,501 to €39,803
of which Other amounts receivable: -€5,798
- Debts after one year +€97,907
up €97,907 (+128%), from €76,250 to €174,157
- Reserves -€30,000
down €30,000 (-30.5%), from €98,309 to €68,309
of which Distributable reserves: -€30,000
- Current portion of long-term debt +€16,828
up €16,828 (+3,860%), from €436 to €17,264
- Other debts +€9,500
up €9,500 (+50.0%), from €19,000 to €28,500
- Short-term financial debts +€2,383
new in 2025: €2,383
- Gross operating margin -€19,583
down €19,583 (-43.3%), from €45,223 to €25,639
- Depreciation -€4,112
down €4,112 (-14.2%), from €29,012 to €24,901
- Financial charges +€1,261
up €1,261 (+46.5%), from €2,712 to €3,973
- Financial income +€825
up €825 (+67.4%), from €1,223 to €2,048
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 | €143,656 | €237,098 | +€93,443 | +65.0% |
| Fixed assets | 21/28 | €87,626 | €191,609 | +€103,983 | +119% |
| Tangible fixed assets | 22/27 | €87,626 | €191,609 | +€103,983 | +119% |
| Land and buildings | 22 | €42,962 | €33,336 | -€9,627 | -22.4% |
| Plant, machinery and equipment | 23 | €0 | €1,133 | +€1,133 | |
| Furniture and vehicles | 24 | €44,664 | €29,414 | -€15,250 | -34.1% |
| Other tangible fixed assets | 26 | - | €127,727 | +€127,727 | |
| Current assets | 29/58 | €56,030 | €45,489 | -€10,540 | -18.8% |
| Amounts receivable within one year | 40/41 | €49,501 | €39,803 | -€9,698 | -19.6% |
| Trade receivables | 40 | €17,108 | €13,208 | -€3,900 | -22.8% |
| Other amounts receivable | 41 | €32,394 | €26,596 | -€5,798 | -17.9% |
| Cash at bank and in hand | 54/58 | €2,069 | €0 | -€2,069 | -100% |
| Deferred charges and accrued income | 490/1 | €4,459 | €5,686 | +€1,227 | +27.5% |
| Total equity and liabilities | 10/49 | €143,656 | €237,098 | +€93,443 | +65.0% |
| Equity | 10/15 | €38,424 | €6,334 | -€32,090 | -83.5% |
| Contributions | 10/11 | €19,987 | €19,987 | = | 0.0% |
| Reserves | 13 | €98,309 | €68,309 | -€30,000 | -30.5% |
| Non-distributable reserves | 130/1 | €4 | €4 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4 | €4 | = | 0.0% |
| Distributable reserves | 133 | €98,305 | €68,305 | -€30,000 | -30.5% |
| Profit (loss) carried forward | 14 | -€79,872 | -€81,962 | -€2,090 | -2.6% |
| Amounts payable | 17/49 | €105,231 | €230,764 | +€125,533 | +119% |
| Amounts payable after more than one year | 17 | €76,250 | €174,157 | +€97,907 | +128% |
| Financial debts | 170/4 | €76,250 | €174,157 | +€97,907 | +128% |
| Amounts payable within one year | 42/48 | €28,981 | €56,607 | +€27,626 | +95.3% |
| Current portion of amounts payable after more than one year | 42 | €436 | €17,264 | +€16,828 | +3,860% |
| Financial debts | 43 | - | €2,383 | +€2,383 | |
| Credit institutions | 430/8 | - | €2,383 | +€2,383 | |
| Trade debts | 44 | €6,308 | €5,429 | -€879 | -13.9% |
| Suppliers | 440/4 | €6,308 | €5,429 | -€879 | -13.9% |
| Taxes, remuneration and social security | 45 | €3,238 | €3,032 | -€206 | -6.4% |
| Taxes | 450/3 | €3,238 | €3,032 | -€206 | -6.4% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €19,000 | €28,500 | +€9,500 | +50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,012 | €24,901 | -€4,112 | -14.2% |
| Other operating charges | 640/8 | €879 | €697 | -€182 | -20.7% |
| Gross operating margin | 9900 | €45,223 | €25,639 | -€19,583 | -43.3% |
| Operating profit (loss) | 9901 | €15,332 | €42 | -€15,290 | -99.7% |
| Financial income | 75/76B | €1,223 | €2,048 | +€825 | +67.4% |
| Recurring financial income | 75 | €1,223 | €2,048 | +€825 | +67.4% |
| Financial charges | 65/66B | €2,712 | €3,973 | +€1,261 | +46.5% |
| Recurring financial charges | 65 | €2,712 | €3,973 | +€1,261 | +46.5% |
| Profit (loss) for the period before taxes | 9903 | €13,843 | -€1,884 | -€15,727 | |
| Income taxes | 67/77 | €200 | €206 | +€7 | +3.3% |
| Profit (loss) for the period | 9904 | €13,643 | -€2,090 | -€15,733 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,643 | -€2,090 | -€15,733 |
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 24 October 2026 via checked.be.