ROPAGI: 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.
ROPAGI
Largest movements
- Tangible fixed assets -€78,870
down €78,870 (-2.4%), from €3.3m to €3.3m
of which Land and buildings: -€73,877
- Cash -€38,701
down €38,701 (-9.1%), from €427,264 to €388,564
mainly Debts after one year (-€148,823) and Investment in fixed assets (net) (-€77,899)
- Debts after one year -€148,823
down €148,823 (-9.4%), from €1.6m to €1.4m
of which Financial debts: -€82,734
- Depreciation -€15,138
down €15,138 (-8.8%), from €171,907 to €156,769
- Other operating charges +€13,403
up €13,403 (+67.0%), from €20,007 to €33,410
- Gross operating margin +€6,257
up €6,257 (+3.0%), from €210,387 to €216,644
- Taxes -€5,245
down €5,245 (-39.7%), from €13,201 to €7,956
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 | €3,814,672 | €3,684,528 | -€130,144 | -3.4% |
| Fixed assets | 21/28 | €3,332,478 | €3,253,608 | -€78,870 | -2.4% |
| Tangible fixed assets | 22/27 | €3,332,478 | €3,253,608 | -€78,870 | -2.4% |
| Land and buildings | 22 | €3,323,682 | €3,249,805 | -€73,877 | -2.2% |
| Plant, machinery and equipment | 23 | - | €2,688 | +€2,688 | |
| Furniture and vehicles | 24 | €8,796 | €1,115 | -€7,681 | -87.3% |
| Current assets | 29/58 | €482,194 | €430,920 | -€51,274 | -10.6% |
| Amounts receivable within one year | 40/41 | €50,000 | €35,653 | -€14,347 | -28.7% |
| Trade receivables | 40 | - | €35,653 | +€35,653 | |
| Other amounts receivable | 41 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €427,264 | €388,564 | -€38,701 | -9.1% |
| Deferred charges and accrued income | 490/1 | €4,929 | €6,703 | +€1,773 | +36.0% |
| Total equity and liabilities | 10/49 | €3,814,672 | €3,684,528 | -€130,144 | -3.4% |
| Equity | 10/15 | €2,079,986 | €2,092,712 | +€12,726 | +0.6% |
| Contributions | 10/11 | €1,730,000 | €1,730,000 | = | 0.0% |
| Capital | 10 | €1,730,000 | €1,730,000 | = | 0.0% |
| Issued capital | 100 | €1,730,000 | €1,730,000 | = | 0.0% |
| Reserves | 13 | €314,807 | €308,746 | -€6,061 | -1.9% |
| Non-distributable reserves | 130/1 | €173,000 | €173,000 | = | 0.0% |
| Legal reserve | 130 | €173,000 | €173,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €139,410 | €133,348 | -€6,061 | -4.3% |
| Distributable reserves | 133 | €2,397 | €2,397 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,179 | €53,967 | +€18,788 | +53.4% |
| Provisions and deferred taxes | 16 | €46,470 | €44,449 | -€2,020 | -4.3% |
| Deferred taxes | 168 | €46,470 | €44,449 | -€2,020 | -4.3% |
| Amounts payable | 17/49 | €1,688,216 | €1,547,366 | -€140,850 | -8.3% |
| Amounts payable after more than one year | 17 | €1,579,689 | €1,430,866 | -€148,823 | -9.4% |
| Financial debts | 170/4 | €204,613 | €121,879 | -€82,734 | -40.4% |
| Other amounts payable | 178/9 | €1,375,076 | €1,308,987 | -€66,089 | -4.8% |
| Amounts payable within one year | 42/48 | €104,447 | €111,863 | +€7,416 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €80,255 | €82,734 | +€2,479 | +3.1% |
| Trade debts | 44 | €11,859 | €14,154 | +€2,295 | +19.4% |
| Suppliers | 440/4 | €11,859 | €14,154 | +€2,295 | +19.4% |
| Taxes, remuneration and social security | 45 | €8,083 | €10,724 | +€2,641 | +32.7% |
| Taxes | 450/3 | €8,083 | €10,724 | +€2,641 | +32.7% |
| Other amounts payable | 47/48 | €4,250 | €4,250 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,081 | €4,638 | +€558 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,907 | €156,769 | -€15,138 | -8.8% |
| Other operating charges | 640/8 | €20,007 | €33,410 | +€13,403 | +67.0% |
| Gross operating margin | 9900 | €210,387 | €216,644 | +€6,257 | +3.0% |
| Operating profit (loss) | 9901 | €18,473 | €26,465 | +€7,992 | +43.3% |
| Financial income | 75/76B | €626 | €1,968 | +€1,342 | +214.2% |
| Recurring financial income | 75 | €626 | €1,968 | +€1,342 | +214.2% |
| Financial charges | 65/66B | €10,455 | €9,771 | -€683 | -6.5% |
| Recurring financial charges | 65 | €10,455 | €9,771 | -€683 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €8,645 | €18,662 | +€10,017 | +115.9% |
| Transfer from deferred taxes | 780 | €2,020 | €2,020 | = | 0.0% |
| Income taxes | 67/77 | €13,201 | €7,956 | -€5,245 | -39.7% |
| Profit (loss) for the period | 9904 | -€2,536 | €12,726 | +€15,263 | |
| Transfer from tax-exempt reserves | 789 | €6,061 | €6,061 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,525 | €18,788 | +€15,263 | +432.9% |
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 10 October 2026 via checked.be.