ROSA & PEPE: 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.
ROSA & PEPE
Largest movements
- Tangible fixed assets -€37,600
down €37,600 (-15.3%), from €245,241 to €207,641
of which Land and buildings: -€26,658
- Receivables within one year +€9,684
up €9,684 (+20.2%), from €47,870 to €57,553
of which Other amounts receivable: +€9,746
- Debts after one year -€32,406
down €32,406 (-22.4%), from €144,481 to €112,075
- Profit (loss) carried forward -€12,022
down €12,022 (-200%), from -€6,003 to -€18,025
- Other debts +€5,372
up €5,372 (+5.9%), from €91,322 to €96,694
- Trade debts +€4,782
up €4,782 (+82.2%), from €5,818 to €10,600
- Gross operating margin -€6,571
down €6,571 (-14.5%), from €45,337 to €38,766
- Financial charges -€1,706
down €1,706 (-12.8%), from €13,312 to €11,606
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 | €305,729 | €274,453 | -€31,276 | -10.2% |
| Fixed assets | 21/28 | €245,276 | €207,676 | -€37,600 | -15.3% |
| Tangible fixed assets | 22/27 | €245,241 | €207,641 | -€37,600 | -15.3% |
| Land and buildings | 22 | €225,320 | €198,662 | -€26,658 | -11.8% |
| Plant, machinery and equipment | 23 | €14,701 | €5,205 | -€9,496 | -64.6% |
| Furniture and vehicles | 24 | €5,220 | €3,774 | -€1,446 | -27.7% |
| Financial fixed assets | 28 | €35 | €35 | = | 0.0% |
| Current assets | 29/58 | €60,453 | €66,776 | +€6,323 | +10.5% |
| Stocks and contracts in progress | 3 | €2,500 | €2,500 | = | 0.0% |
| Stocks | 30/36 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €47,870 | €57,553 | +€9,684 | +20.2% |
| Trade receivables | 40 | €62 | €0 | -€62 | -100% |
| Other amounts receivable | 41 | €47,807 | €57,553 | +€9,746 | +20.4% |
| Cash at bank and in hand | 54/58 | €8,845 | €5,827 | -€3,018 | -34.1% |
| Deferred charges and accrued income | 490/1 | €1,238 | €896 | -€343 | -27.7% |
| Total equity and liabilities | 10/49 | €305,729 | €274,453 | -€31,276 | -10.2% |
| Equity | 10/15 | €15,997 | €3,975 | -€12,022 | -75.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,003 | -€18,025 | -€12,022 | -200% |
| Amounts payable | 17/49 | €289,732 | €270,478 | -€19,254 | -6.6% |
| Amounts payable after more than one year | 17 | €144,481 | €112,075 | -€32,406 | -22.4% |
| Financial debts | 170/4 | €144,481 | €112,075 | -€32,406 | -22.4% |
| Amounts payable within one year | 42/48 | €142,782 | €155,939 | +€13,157 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €31,470 | €32,406 | +€937 | +3.0% |
| Financial debts | 43 | €9,762 | €8,796 | -€965 | -9.9% |
| Credit institutions | 430/8 | €9,762 | €8,796 | -€965 | -9.9% |
| Trade debts | 44 | €5,818 | €10,600 | +€4,782 | +82.2% |
| Suppliers | 440/4 | €5,818 | €10,600 | +€4,782 | +82.2% |
| Taxes, remuneration and social security | 45 | €4,411 | €7,443 | +€3,032 | +68.7% |
| Taxes | 450/3 | €4,411 | €4,643 | +€232 | +5.3% |
| Remuneration and social security | 454/9 | €0 | €2,800 | +€2,800 | |
| Other amounts payable | 47/48 | €91,322 | €96,694 | +€5,372 | +5.9% |
| Accrued charges and deferred income | 492/3 | €2,469 | €2,464 | -€5 | -0.2% |
| Non-recurring operating income | 76A | - | €531 | +€531 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,987 | €37,600 | -€387 | -1.0% |
| Other operating charges | 640/8 | €1,502 | €1,547 | +€45 | +3.0% |
| Gross operating margin | 9900 | €45,337 | €38,766 | -€6,571 | -14.5% |
| Operating profit (loss) | 9901 | €5,848 | -€381 | -€6,229 | |
| Financial income | 75/76B | €152 | €86 | -€67 | -43.8% |
| Recurring financial income | 75 | €152 | €86 | -€67 | -43.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €13,312 | €11,606 | -€1,706 | -12.8% |
| Recurring financial charges | 65 | €13,312 | €11,606 | -€1,706 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | -€7,312 | -€11,902 | -€4,589 | -62.8% |
| Income taxes | 67/77 | €132 | €121 | -€11 | -8.3% |
| Profit (loss) for the period | 9904 | -€7,444 | -€12,022 | -€4,578 | -61.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,444 | -€12,022 | -€4,578 | -61.5% |
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.