Rouge: 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.
Rouge
Largest movements
- Receivables within one year -€38,318
down €38,318 (-93.0%), from €41,212 to €2,895
of which Other amounts receivable: -€36,571
- Tangible fixed assets -€35,761
down €35,761 (-28.7%), from €124,493 to €88,733
of which Other tangible fixed assets: -€27,931
- Other debts -€25,278
down €25,278 (-19.0%), from €133,246 to €107,967
- Trade debts -€15,200
down €15,200 (-75.1%), from €20,238 to €5,038
- Profit (loss) carried forward -€12,140
down €12,140 (-27.2%), from -€44,560 to -€56,700
- Debts after one year -€10,631
down €10,631 (-48.5%), from €21,921 to €11,290
- Tax, wage and social debts -€5,667
down €5,667 (-27.6%), from €20,507 to €14,840
of which Remuneration and social security: -€3,359
- Gross operating margin +€31,590
up €31,590 (+17.8%), from €177,738 to €209,329
- Taxes +€25,252
new in 2025: €25,252
- Staff costs -€9,187
down €9,187 (-6.2%), from €149,333 to €140,145
- Depreciation -€8,309
down €8,309 (-18.9%), from €44,070 to €35,761
- Other operating charges +€8,188
up €8,188 (+317%), from €2,585 to €10,773
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 | €185,088 | €111,668 | -€73,420 | -39.7% |
| Fixed assets | 21/28 | €124,493 | €88,733 | -€35,761 | -28.7% |
| Tangible fixed assets | 22/27 | €124,493 | €88,733 | -€35,761 | -28.7% |
| Plant, machinery and equipment | 23 | €12,548 | €8,383 | -€4,165 | -33.2% |
| Furniture and vehicles | 24 | €3,665 | - | -€3,665 | |
| Other tangible fixed assets | 26 | €108,280 | €80,349 | -€27,931 | -25.8% |
| Current assets | 29/58 | €60,594 | €22,935 | -€37,659 | -62.2% |
| Stocks and contracts in progress | 3 | €10,750 | €12,561 | +€1,810 | +16.8% |
| Stocks | 30/36 | €10,750 | €12,561 | +€1,810 | +16.8% |
| Amounts receivable within one year | 40/41 | €41,212 | €2,895 | -€38,318 | -93.0% |
| Trade receivables | 40 | €4,377 | €2,630 | -€1,747 | -39.9% |
| Other amounts receivable | 41 | €36,835 | €264 | -€36,571 | -99.3% |
| Cash at bank and in hand | 54/58 | €3,934 | €3,546 | -€388 | -9.9% |
| Deferred charges and accrued income | 490/1 | €4,698 | €3,934 | -€764 | -16.3% |
| Total equity and liabilities | 10/49 | €185,088 | €111,668 | -€73,420 | -39.7% |
| Equity | 10/15 | -€25,960 | -€38,100 | -€12,140 | -46.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,560 | -€56,700 | -€12,140 | -27.2% |
| Amounts payable | 17/49 | €211,048 | €149,767 | -€61,281 | -29.0% |
| Amounts payable after more than one year | 17 | €21,921 | €11,290 | -€10,631 | -48.5% |
| Financial debts | 170/4 | €21,921 | €11,290 | -€10,631 | -48.5% |
| Amounts payable within one year | 42/48 | €189,127 | €138,476 | -€50,650 | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €15,136 | €10,631 | -€4,504 | -29.8% |
| Trade debts | 44 | €20,238 | €5,038 | -€15,200 | -75.1% |
| Suppliers | 440/4 | €20,238 | €5,038 | -€15,200 | -75.1% |
| Taxes, remuneration and social security | 45 | €20,507 | €14,840 | -€5,667 | -27.6% |
| Taxes | 450/3 | €7,165 | €4,857 | -€2,308 | -32.2% |
| Remuneration and social security | 454/9 | €13,342 | €9,983 | -€3,359 | -25.2% |
| Other amounts payable | 47/48 | €133,246 | €107,967 | -€25,278 | -19.0% |
| Accrued charges and deferred income | 492/3 | - | €1 | +€1 | |
| Remuneration, social security and pensions | 62 | €149,333 | €140,145 | -€9,187 | -6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,070 | €35,761 | -€8,309 | -18.9% |
| Other operating charges | 640/8 | €2,585 | €10,773 | +€8,188 | +317% |
| Non-recurring operating charges | 66A | €601 | - | -€601 | |
| Gross operating margin | 9900 | €177,738 | €209,329 | +€31,590 | +17.8% |
| Operating profit (loss) | 9901 | -€18,850 | €22,650 | +€41,500 | |
| Financial income | 75/76B | €61 | €7 | -€54 | -89.0% |
| Recurring financial income | 75 | €61 | €7 | -€54 | -89.0% |
| Financial charges | 65/66B | €8,033 | €9,544 | +€1,511 | +18.8% |
| Recurring financial charges | 65 | €8,033 | €9,544 | +€1,511 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | -€26,822 | €13,112 | +€39,934 | |
| Income taxes | 67/77 | - | €25,252 | +€25,252 | |
| Profit (loss) for the period | 9904 | -€26,822 | -€12,140 | +€14,683 | +54.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,822 | -€12,140 | +€14,683 | +54.7% |
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 15 October 2026 via checked.be.