RORENOV: 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.
RORENOV
Largest movements
- Tangible fixed assets -€140,365
down €140,365 (-61.7%), from €227,519 to €87,154
of which Furniture and vehicles: -€80,178
- Deferred charges and accrued income -€77,835
down €77,835 (-89.7%), from €86,784 to €8,948
- Cash +€37,251
up €37,251 (+81.2%), from €45,862 to €83,113
mainly Investment in fixed assets (net) (+€129,746) and Current portion of long-term debt (+€120,587)
- Receivables within one year +€14,999
up €14,999 (+4.1%), from €361,874 to €376,873
of which Other amounts receivable: +€54,655
- Trade debts -€239,338
down €239,338 (-100%), from €239,338 to €0
- Current portion of long-term debt +€120,587
up €120,587 (+1,318%), from €9,148 to €129,735
- Tax, wage and social debts -€24,457
down €24,457 (-27.8%), from €88,024 to €63,567
of which Taxes: -€23,962
- Debts after one year -€24,081
down €24,081 (-6.6%), from €362,685 to €338,604
- Gross operating margin -€85,200
down €85,200 (-28.7%), from €296,570 to €211,370
- Financial charges +€51,423
up €51,423 (+98.2%), from €52,368 to €103,791
of which Non-recurring financial charges: +€55,155
- Staff costs -€26,812
down €26,812 (-33.4%), from €80,207 to €53,395
- Taxes -€25,361
down €25,361 (-79.5%), from €31,903 to €6,542
- Other operating charges +€24,044
up €24,044 (+114%), from €21,132 to €45,176
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 | €817,749 | €650,798 | -€166,951 | -20.4% |
| Fixed assets | 21/28 | €227,519 | €87,154 | -€140,365 | -61.7% |
| Tangible fixed assets | 22/27 | €227,519 | €87,154 | -€140,365 | -61.7% |
| Land and buildings | 22 | €83,260 | €23,073 | -€60,187 | -72.3% |
| Furniture and vehicles | 24 | €144,259 | €64,081 | -€80,178 | -55.6% |
| Current assets | 29/58 | €590,230 | €563,645 | -€26,586 | -4.5% |
| Stocks and contracts in progress | 3 | €95,711 | €94,711 | -€1,000 | -1.0% |
| Stocks | 30/36 | €95,711 | €94,711 | -€1,000 | -1.0% |
| Amounts receivable within one year | 40/41 | €361,874 | €376,873 | +€14,999 | +4.1% |
| Trade receivables | 40 | €218,058 | €178,401 | -€39,656 | -18.2% |
| Other amounts receivable | 41 | €143,817 | €198,472 | +€54,655 | +38.0% |
| Cash at bank and in hand | 54/58 | €45,862 | €83,113 | +€37,251 | +81.2% |
| Deferred charges and accrued income | 490/1 | €86,784 | €8,948 | -€77,835 | -89.7% |
| Total equity and liabilities | 10/49 | €817,749 | €650,798 | -€166,951 | -20.4% |
| Equity | 10/15 | €118,554 | €117,903 | -€651 | -0.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €112,354 | €111,703 | -€651 | -0.6% |
| Distributable reserves | 133 | €112,354 | €111,703 | -€651 | -0.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €699,195 | €532,895 | -€166,300 | -23.8% |
| Amounts payable after more than one year | 17 | €362,685 | €338,604 | -€24,081 | -6.6% |
| Financial debts | 170/4 | €362,685 | €338,604 | -€24,081 | -6.6% |
| Amounts payable within one year | 42/48 | €336,510 | €194,291 | -€142,219 | -42.3% |
| Current portion of amounts payable after more than one year | 42 | €9,148 | €129,735 | +€120,587 | +1,318% |
| Financial debts | 43 | - | €989 | +€989 | |
| Other loans | 439 | - | €989 | +€989 | |
| Trade debts | 44 | €239,338 | €0 | -€239,338 | -100% |
| Suppliers | 440/4 | €239,338 | €0 | -€239,338 | -100% |
| Taxes, remuneration and social security | 45 | €88,024 | €63,567 | -€24,457 | -27.8% |
| Taxes | 450/3 | €70,632 | €46,670 | -€23,962 | -33.9% |
| Remuneration and social security | 454/9 | €17,392 | €16,897 | -€496 | -2.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €357,504 | +€357,504 | |
| Remuneration, social security and pensions | 62 | €80,207 | €53,395 | -€26,812 | -33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,375 | €10,619 | -€20,756 | -66.2% |
| Other operating charges | 640/8 | €21,132 | €45,176 | +€24,044 | +114% |
| Gross operating margin | 9900 | €296,570 | €211,370 | -€85,200 | -28.7% |
| Operating profit (loss) | 9901 | €163,856 | €102,179 | -€61,676 | -37.6% |
| Financial income | 75/76B | €7,072 | €7,503 | +€431 | +6.1% |
| Recurring financial income | 75 | €7,072 | €7,503 | +€431 | +6.1% |
| Financial charges | 65/66B | €52,368 | €103,791 | +€51,423 | +98.2% |
| Recurring financial charges | 65 | €31,427 | €27,695 | -€3,732 | -11.9% |
| Non-recurring financial charges | 66B | €20,941 | €76,096 | +€55,155 | +263% |
| Profit (loss) for the period before taxes | 9903 | €118,560 | €5,891 | -€112,668 | -95.0% |
| Income taxes | 67/77 | €31,903 | €6,542 | -€25,361 | -79.5% |
| Profit (loss) for the period | 9904 | €86,657 | -€651 | -€87,307 | |
| Profit (loss) for the period to be appropriated | 9905 | €86,657 | -€651 | -€87,307 |
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 23 October 2026 via checked.be.