ROMAPE: 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.
ROMAPE
Largest movements
- Financial fixed assets +€2.6m
up €2.6m (+25.2%), from €10.4m to €13.1m
- Receivables after one year +€2.4m
up €2.4m (+398%), from €600,000 to €3.0m
of which Other amounts receivable: +€3.0m
- Cash +€2.2m
up €2.2m (+267%), from €838,794 to €3.1m
mainly Debts after one year (+€3.7m) and Net result for the year (+€2.7m)
- Current investments -€2.0m
down €2.0m (-49.7%), from €4.0m to €2.0m
- Receivables within one year -€231,801
down €231,801 (-21.7%), from €1.1m to €834,690
of which Other amounts receivable: -€536,951
- Debts after one year +€3.7m
up €3.7m (+522%), from €713,150 to €4.4m
- Profit (loss) carried forward +€2.7m
up €2.7m (+21.4%), from €12.5m to €15.2m
- Other debts -€1.5m
down €1.5m (-56.3%), from €2.7m to €1.2m
- Financial income +€2.2m
up €2.2m (+184%), from €1.2m to €3.4m
of which Financial income: +€2.2m
- Financial charges +€382,739
up €382,739 (+411%), from €93,024 to €475,762
of which Non-recurring financial charges: +€354,055
- Gross operating margin -€310,167
down €310,167, from €299,065 to -€11,102
- Staff costs -€168,850
down €168,850 (-49.0%), from €344,823 to €175,973
- Other operating charges +€6,262
up €6,262 (+14.7%), from €42,602 to €48,865
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 | €17,626,891 | €22,598,195 | +€5.0m | +28.2% |
| Fixed assets | 21/28 | €11,121,605 | €13,690,887 | +€2.6m | +23.1% |
| Tangible fixed assets | 22/27 | €682,791 | €616,528 | -€66,263 | -9.7% |
| Land and buildings | 22 | €496,619 | €479,332 | -€17,287 | -3.5% |
| Furniture and vehicles | 24 | €114,756 | €59,822 | -€54,934 | -47.9% |
| Other tangible fixed assets | 26 | €71,416 | €77,374 | +€5,958 | +8.3% |
| Financial fixed assets | 28 | €10,438,814 | €13,074,359 | +€2.6m | +25.2% |
| Current assets | 29/58 | €6,505,285 | €8,907,308 | +€2.4m | +36.9% |
| Amounts receivable after more than one year | 29 | €600,000 | €2,987,220 | +€2.4m | +398% |
| Trade receivables | 290 | €600,000 | €0 | -€600,000 | -100% |
| Other amounts receivable | 291 | - | €2,987,220 | +€3.0m | |
| Amounts receivable within one year | 40/41 | €1,066,491 | €834,690 | -€231,801 | -21.7% |
| Trade receivables | 40 | €154,944 | €460,094 | +€305,150 | +197% |
| Other amounts receivable | 41 | €911,547 | €374,596 | -€536,951 | -58.9% |
| Current investments | 50/53 | €4,000,000 | €2,010,490 | -€2.0m | -49.7% |
| Cash at bank and in hand | 54/58 | €838,794 | €3,074,909 | +€2.2m | +267% |
| Total equity and liabilities | 10/49 | €17,626,891 | €22,598,195 | +€5.0m | +28.2% |
| Equity | 10/15 | €12,824,441 | €15,483,419 | +€2.7m | +20.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €218,223 | €192,507 | -€25,716 | -11.8% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €25,716 | €0 | -€25,716 | -100% |
| Distributable reserves | 133 | €186,357 | €186,357 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,544,718 | €15,229,412 | +€2.7m | +21.4% |
| Amounts payable | 17/49 | €4,802,450 | €7,114,777 | +€2.3m | +48.1% |
| Amounts payable after more than one year | 17 | €713,150 | €4,434,014 | +€3.7m | +522% |
| Financial debts | 170/4 | €713,150 | €4,434,014 | +€3.7m | +522% |
| Amounts payable within one year | 42/48 | €4,089,300 | €2,680,763 | -€1.4m | -34.4% |
| Current portion of amounts payable after more than one year | 42 | €777,397 | €929,136 | +€151,739 | +19.5% |
| Trade debts | 44 | €554,176 | €514,824 | -€39,352 | -7.1% |
| Suppliers | 440/4 | €554,176 | €514,824 | -€39,352 | -7.1% |
| Taxes, remuneration and social security | 45 | €39,379 | €50,012 | +€10,633 | +27.0% |
| Taxes | 450/3 | €926 | €33,683 | +€32,757 | +3,536% |
| Remuneration and social security | 454/9 | €38,453 | €16,329 | -€22,124 | -57.5% |
| Other amounts payable | 47/48 | €2,718,348 | €1,186,792 | -€1.5m | -56.3% |
| Non-recurring operating income | 76A | €0 | €22,378 | +€22,378 | |
| Remuneration, social security and pensions | 62 | €344,823 | €175,973 | -€168,850 | -49.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,891 | €55,756 | -€4,135 | -6.9% |
| Other operating charges | 640/8 | €42,602 | €48,865 | +€6,262 | +14.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €299,065 | -€11,102 | -€310,167 | |
| Operating profit (loss) | 9901 | -€148,250 | -€291,696 | -€143,445 | -96.8% |
| Financial income | 75/76B | €1,208,244 | €3,431,881 | +€2.2m | +184% |
| Recurring financial income | 75 | €1,208,244 | €3,426,349 | +€2.2m | +184% |
| Non-recurring financial income | 76B | - | €5,532 | +€5,532 | |
| Financial charges | 65/66B | €93,024 | €475,762 | +€382,739 | +411% |
| Recurring financial charges | 65 | €93,024 | €121,708 | +€28,684 | +30.8% |
| Non-recurring financial charges | 66B | - | €354,055 | +€354,055 | |
| Profit (loss) for the period before taxes | 9903 | €966,970 | €2,664,423 | +€1.7m | +176% |
| Income taxes | 67/77 | €1,142 | €5,445 | +€4,303 | +377% |
| Profit (loss) for the period | 9904 | €965,828 | €2,658,977 | +€1.7m | +175% |
| Transfer from tax-exempt reserves | 789 | - | €25,716 | +€25,716 | |
| Profit (loss) for the period to be appropriated | 9905 | €965,828 | €2,684,694 | +€1.7m | +178% |
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 13 October 2026 via checked.be.