ROPA: what changed
ROPA
Largest movements
- Receivables within one year +€20,623
up €20,623 (+28.0%), from €73,530 to €94,153
- Cash -€12,162
down €12,162 (-3.2%), from €383,640 to €371,478
mainly Receivables within one year (-€20,623) and Net result for the year (-€17,954)
- Reserves -€17,955
down €17,955 (-3.1%), from €572,773 to €554,818
of which Distributable reserves: -€17,955
- Tax, wage and social debts +€15,768
up €15,768 (+130%), from €12,134 to €27,902
of which Taxes: +€15,922
- Other debts +€10,782
up €10,782 (+3.4%), from €318,333 to €329,115
- Turnover +€70,177
up €70,177 (+423%), from €16,593 to €86,770
- Purchases and services -€62,853
down €62,853 (-42.5%), from €148,037 to €85,184
- Financial charges +€23,099
up €23,099 (+152%), from €15,239 to €38,338
- Financial income -€7,383
down €7,383 (-39.2%), from €18,835 to €11,452
of which Financial income: -€7,383
- Gross operating margin -€1,596
down €1,596 (-7.8%), from €20,383 to €18,787
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 | €1,018,351 | €1,019,768 | +€1,417 | +0.1% |
| Fixed assets | 21/28 | €558,424 | €552,082 | -€6,342 | -1.1% |
| Tangible fixed assets | 22/27 | €8,455 | €2,113 | -€6,342 | -75.0% |
| Furniture and vehicles | 24 | €8,455 | €2,113 | -€6,342 | -75.0% |
| Financial fixed assets | 28 | €549,969 | €549,969 | = | 0.0% |
| Current assets | 29/58 | €459,927 | €467,686 | +€7,759 | +1.7% |
| Amounts receivable within one year | 40/41 | €73,530 | €94,153 | +€20,623 | +28.0% |
| Trade receivables | 40 | €73,530 | €94,153 | +€20,623 | +28.0% |
| Cash at bank and in hand | 54/58 | €383,640 | €371,478 | -€12,162 | -3.2% |
| Deferred charges and accrued income | 490/1 | €2,757 | €2,055 | -€702 | -25.5% |
| Total equity and liabilities | 10/49 | €1,018,351 | €1,019,768 | +€1,417 | +0.1% |
| Equity | 10/15 | €616,154 | €598,199 | -€17,955 | -2.9% |
| Contributions | 10/11 | €43,381 | €43,381 | = | 0.0% |
| Reserves | 13 | €572,773 | €554,818 | -€17,955 | -3.1% |
| Non-distributable reserves | 130/1 | €4,338 | €4,338 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,338 | €4,338 | = | 0.0% |
| Distributable reserves | 133 | €568,435 | €550,480 | -€17,955 | -3.2% |
| Amounts payable | 17/49 | €402,197 | €421,569 | +€19,372 | +4.8% |
| Amounts payable after more than one year | 17 | €62,089 | €60,000 | -€2,089 | -3.4% |
| Financial debts | 170/4 | €62,089 | €60,000 | -€2,089 | -3.4% |
| Amounts payable within one year | 42/48 | €340,108 | €361,569 | +€21,461 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €6,506 | €2,162 | -€4,344 | -66.8% |
| Trade debts | 44 | €3,135 | €2,390 | -€745 | -23.8% |
| Suppliers | 440/4 | €3,135 | €2,390 | -€745 | -23.8% |
| Taxes, remuneration and social security | 45 | €12,134 | €27,902 | +€15,768 | +130% |
| Taxes | 450/3 | €11,980 | €27,902 | +€15,922 | +133% |
| Remuneration and social security | 454/9 | €154 | - | -€154 | |
| Other amounts payable | 47/48 | €318,333 | €329,115 | +€10,782 | +3.4% |
| Turnover | 70 | €16,593 | €86,770 | +€70,177 | +423% |
| Goods, raw materials, services and sundry goods | 60/61 | €148,037 | €85,184 | -€62,853 | -42.5% |
| Remuneration, social security and pensions | 62 | €3,206 | €3,220 | +€14 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,340 | €6,340 | = | 0.0% |
| Other operating charges | 640/8 | €250 | €295 | +€45 | +18.0% |
| Gross operating margin | 9900 | €20,383 | €18,787 | -€1,596 | -7.8% |
| Operating profit (loss) | 9901 | €10,587 | €8,932 | -€1,655 | -15.6% |
| Financial income | 75/76B | €18,835 | €11,452 | -€7,383 | -39.2% |
| Recurring financial income | 75 | €18,835 | €11,452 | -€7,383 | -39.2% |
| Non-recurring financial income | 76B | €18,835 | €11,452 | -€7,383 | -39.2% |
| Financial charges | 65/66B | €15,239 | €38,338 | +€23,099 | +152% |
| Recurring financial charges | 65 | €15,239 | €38,338 | +€23,099 | +152% |
| Profit (loss) for the period before taxes | 9903 | €14,183 | -€17,954 | -€32,137 | |
| Profit (loss) for the period | 9904 | €14,183 | -€17,954 | -€32,137 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,183 | -€17,954 | -€32,137 |
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 2 November 2026 via checked.be.