ROTENBERG: 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.
ROTENBERG
Largest movements
- Tangible fixed assets -€20,901
down €20,901 (-42.0%), from €49,774 to €28,874
of which Furniture and vehicles: -€14,746
- Current investments -€15,000
down €15,000 (-60.0%), from €25,000 to €10,000
- Cash -€11,349
down €11,349 (-25.8%), from €43,967 to €32,618
mainly Trade debts (-€30,598) and Contributions, distributions and other (-€30,000)
- Receivables within one year -€9,064
down €9,064 (-49.6%), from €18,274 to €9,210
of which Other amounts receivable: -€8,845
- Stocks and contracts +€2,317
up €2,317 (+25.0%), from €9,287 to €11,604
- Trade debts -€30,598
down €30,598 (-87.3%), from €35,058 to €4,460
- Current portion of long-term debt -€10,300
down €10,300 (-74.8%), from €13,773 to €3,473
- Tax, wage and social debts -€6,112
down €6,112 (-15.1%), from €40,562 to €34,450
of which Remuneration and social security: -€8,200
- Debts after one year -€3,473
no longer reported in 2025 (was €3,473)
- Profit (loss) carried forward -€2,363
down €2,363 (-34.8%), from €6,786 to €4,423
- Staff costs +€67,354
up €67,354 (+27.5%), from €244,924 to €312,278
- Gross operating margin +€66,085
up €66,085 (+20.8%), from €316,980 to €383,065
- Depreciation +€4,726
up €4,726 (+19.8%), from €23,843 to €28,570
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 | €146,302 | €92,306 | -€53,996 | -36.9% |
| Fixed assets | 21/28 | €49,774 | €28,874 | -€20,901 | -42.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €49,774 | €28,874 | -€20,901 | -42.0% |
| Land and buildings | 22 | €27,381 | €19,407 | -€7,975 | -29.1% |
| Plant, machinery and equipment | 23 | €7,647 | €9,467 | +€1,820 | +23.8% |
| Furniture and vehicles | 24 | €14,746 | €0 | -€14,746 | -100.0% |
| Current assets | 29/58 | €96,528 | €63,433 | -€33,095 | -34.3% |
| Stocks and contracts in progress | 3 | €9,287 | €11,604 | +€2,317 | +25.0% |
| Stocks | 30/36 | €9,287 | €11,604 | +€2,317 | +25.0% |
| Amounts receivable within one year | 40/41 | €18,274 | €9,210 | -€9,064 | -49.6% |
| Trade receivables | 40 | €2,409 | €2,190 | -€219 | -9.1% |
| Other amounts receivable | 41 | €15,865 | €7,020 | -€8,845 | -55.8% |
| Current investments | 50/53 | €25,000 | €10,000 | -€15,000 | -60.0% |
| Cash at bank and in hand | 54/58 | €43,967 | €32,618 | -€11,349 | -25.8% |
| Total equity and liabilities | 10/49 | €146,302 | €92,306 | -€53,996 | -36.9% |
| Equity | 10/15 | €28,786 | €24,423 | -€4,363 | -15.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | - | -€2,000 | |
| Distributable reserves | 133 | €2,000 | - | -€2,000 | |
| Profit (loss) carried forward | 14 | €6,786 | €4,423 | -€2,363 | -34.8% |
| Amounts payable | 17/49 | €117,516 | €67,883 | -€49,633 | -42.2% |
| Amounts payable after more than one year | 17 | €3,473 | - | -€3,473 | |
| Financial debts | 170/4 | €3,473 | - | -€3,473 | |
| Amounts payable within one year | 42/48 | €114,043 | €67,883 | -€46,160 | -40.5% |
| Current portion of amounts payable after more than one year | 42 | €13,773 | €3,473 | -€10,300 | -74.8% |
| Trade debts | 44 | €35,058 | €4,460 | -€30,598 | -87.3% |
| Suppliers | 440/4 | €35,058 | €4,460 | -€30,598 | -87.3% |
| Taxes, remuneration and social security | 45 | €40,562 | €34,450 | -€6,112 | -15.1% |
| Taxes | 450/3 | €7,494 | €9,583 | +€2,089 | +27.9% |
| Remuneration and social security | 454/9 | €33,068 | €24,867 | -€8,200 | -24.8% |
| Other amounts payable | 47/48 | €24,650 | €25,500 | +€850 | +3.4% |
| Remuneration, social security and pensions | 62 | €244,924 | €312,278 | +€67,354 | +27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,843 | €28,570 | +€4,726 | +19.8% |
| Other operating charges | 640/8 | €1,848 | €2,853 | +€1,004 | +54.3% |
| Gross operating margin | 9900 | €316,980 | €383,065 | +€66,085 | +20.8% |
| Operating profit (loss) | 9901 | €46,365 | €39,365 | -€7,000 | -15.1% |
| Financial income | 75/76B | €892 | €1,113 | +€222 | +24.9% |
| Recurring financial income | 75 | €892 | €1,113 | +€222 | +24.9% |
| Financial charges | 65/66B | €8,402 | €6,329 | -€2,073 | -24.7% |
| Recurring financial charges | 65 | €8,402 | €6,329 | -€2,073 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | €38,855 | €34,150 | -€4,705 | -12.1% |
| Income taxes | 67/77 | €9,699 | €8,513 | -€1,186 | -12.2% |
| Profit (loss) for the period | 9904 | €29,156 | €25,637 | -€3,519 | -12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,156 | €25,637 | -€3,519 | -12.1% |
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 12 October 2026 via checked.be.