ROSES GARDEN: what changed
ROSES GARDEN
Largest movements
- Tangible fixed assets -€12,230
down €12,230 (-13.7%), from €89,318 to €77,089
of which Land and buildings: -€7,088
- Receivables within one year -€3,835
down €3,835 (-5.6%), from €68,611 to €64,776
of which Trade receivables: -€3,809
- Tax, wage and social debts -€11,583
down €11,583 (-29.2%), from €39,667 to €28,084
- Trade debts -€5,485
down €5,485 (-29.1%), from €18,834 to €13,349
- Other debts +€4,900
up €4,900 (+8.8%), from €55,478 to €60,378
- Current portion of long-term debt -€4,505
no longer reported in 2025 (was €4,505)
- Gross operating margin -€30,564
down €30,564 (-38.6%), from €79,139 to €48,575
- Financial charges -€6,697
down €6,697 (-89.7%), from €7,467 to €770
- Taxes -€4,533
down €4,533 (-32.8%), from €13,836 to €9,302
- Other operating charges -€2,513
down €2,513 (-73.6%), from €3,416 to €903
- Depreciation +€2,429
up €2,429 (+24.8%), from €9,801 to €12,230
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 | €184,394 | €168,091 | -€16,303 | -8.8% |
| Fixed assets | 21/28 | €92,369 | €80,139 | -€12,230 | -13.2% |
| Tangible fixed assets | 22/27 | €89,318 | €77,089 | -€12,230 | -13.7% |
| Land and buildings | 22 | €44,100 | €37,013 | -€7,088 | -16.1% |
| Other tangible fixed assets | 26 | €45,218 | €40,076 | -€5,142 | -11.4% |
| Financial fixed assets | 28 | €3,051 | €3,051 | = | 0.0% |
| Current assets | 29/58 | €92,025 | €87,952 | -€4,074 | -4.4% |
| Amounts receivable within one year | 40/41 | €68,611 | €64,776 | -€3,835 | -5.6% |
| Trade receivables | 40 | €68,014 | €64,205 | -€3,809 | -5.6% |
| Other amounts receivable | 41 | €597 | €571 | -€26 | -4.3% |
| Cash at bank and in hand | 54/58 | €23,316 | €23,159 | -€157 | -0.7% |
| Deferred charges and accrued income | 490/1 | €97 | €16 | -€81 | -83.2% |
| Total equity and liabilities | 10/49 | €184,394 | €168,091 | -€16,303 | -8.8% |
| Equity | 10/15 | €65,909 | €66,279 | +€370 | +0.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €3,909 | €4,279 | +€370 | +9.5% |
| Non-distributable reserves | 130/1 | €1,633 | €1,633 | = | 0.0% |
| Legal reserve | 130 | €1,633 | €1,633 | = | 0.0% |
| Distributable reserves | 133 | €2,276 | €2,646 | +€370 | +16.3% |
| Amounts payable | 17/49 | €118,485 | €101,812 | -€16,673 | -14.1% |
| Amounts payable within one year | 42/48 | €118,485 | €101,812 | -€16,673 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €4,505 | - | -€4,505 | |
| Trade debts | 44 | €18,834 | €13,349 | -€5,485 | -29.1% |
| Suppliers | 440/4 | €18,834 | €13,349 | -€5,485 | -29.1% |
| Taxes, remuneration and social security | 45 | €39,667 | €28,084 | -€11,583 | -29.2% |
| Taxes | 450/3 | €39,667 | €28,084 | -€11,583 | -29.2% |
| Other amounts payable | 47/48 | €55,478 | €60,378 | +€4,900 | +8.8% |
| Non-recurring operating income | 76A | - | €466 | +€466 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,801 | €12,230 | +€2,429 | +24.8% |
| Other operating charges | 640/8 | €3,416 | €903 | -€2,513 | -73.6% |
| Gross operating margin | 9900 | €79,139 | €48,575 | -€30,564 | -38.6% |
| Operating profit (loss) | 9901 | €65,923 | €35,443 | -€30,480 | -46.2% |
| Financial income | 75/76B | €489 | - | -€489 | |
| Recurring financial income | 75 | €489 | - | -€489 | |
| Financial charges | 65/66B | €7,467 | €770 | -€6,697 | -89.7% |
| Recurring financial charges | 65 | €7,467 | €770 | -€6,697 | -89.7% |
| Profit (loss) for the period before taxes | 9903 | €58,944 | €34,673 | -€24,272 | -41.2% |
| Income taxes | 67/77 | €13,836 | €9,302 | -€4,533 | -32.8% |
| Profit (loss) for the period | 9904 | €45,108 | €25,370 | -€19,738 | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €45,108 | €25,370 | -€19,738 | -43.8% |
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.