ROVACOS: 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.
ROVACOS
Largest movements
- Receivables within one year +€331,291
up €331,291 (+38.7%), from €855,543 to €1.2m
of which Other amounts receivable: +€508,339
- Cash -€218,428
down €218,428 (-89.0%), from €245,516 to €27,088
mainly Net result for the year (-€395,305) and Receivables within one year (-€331,291)
- Stocks and contracts +€183,990
up €183,990 (+16.1%), from €1.1m to €1.3m
- Tangible fixed assets +€64,723
up €64,723 (+38.8%), from €166,929 to €231,651
of which Other tangible fixed assets: +€75,844
- Intangible fixed assets +€44,379
up €44,379 (+1,238%), from €3,585 to €47,964
- Trade debts +€673,482
up €673,482 (+173%), from €389,781 to €1.1m
- Profit (loss) carried forward -€300,101
down €300,101, from €0 to -€300,101
- Other debts +€194,399
up €194,399 (+22.5%), from €862,138 to €1.1m
- Reserves -€95,204
down €95,204 (-100%), from €95,204 to €0
of which Distributable reserves: -€95,204
- Short-term financial debts -€62,720
down €62,720 (-23.9%), from €262,720 to €200,000
- Gross operating margin -€89,279
down €89,279 (-36.8%), from €242,299 to €153,020
- Staff costs +€43,544
up €43,544 (+13.0%), from €335,927 to €379,471
- Financial charges -€11,806
down €11,806 (-18.9%), from €62,495 to €50,690
- Depreciation +€11,550
up €11,550 (+24.9%), from €46,342 to €57,892
- Financial income -€9,228
down €9,228 (-100%), from €9,228 to €0
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 | €2,452,739 | €2,863,490 | +€410,752 | +16.7% |
| Formation expenses | 20 | €24,501 | €28,034 | +€3,532 | +14.4% |
| Fixed assets | 21/28 | €184,291 | €293,392 | +€109,102 | +59.2% |
| Intangible fixed assets | 21 | €3,585 | €47,964 | +€44,379 | +1,238% |
| Tangible fixed assets | 22/27 | €166,929 | €231,651 | +€64,723 | +38.8% |
| Plant, machinery and equipment | 23 | €67,919 | €106,753 | +€38,833 | +57.2% |
| Furniture and vehicles | 24 | €99,010 | €49,055 | -€49,955 | -50.5% |
| Other tangible fixed assets | 26 | - | €75,844 | +€75,844 | |
| Financial fixed assets | 28 | €13,777 | €13,777 | = | 0.0% |
| Current assets | 29/58 | €2,243,947 | €2,542,064 | +€298,118 | +13.3% |
| Stocks and contracts in progress | 3 | €1,142,888 | €1,326,879 | +€183,990 | +16.1% |
| Stocks | 30/36 | €1,142,888 | €1,326,879 | +€183,990 | +16.1% |
| Amounts receivable within one year | 40/41 | €855,543 | €1,186,833 | +€331,291 | +38.7% |
| Trade receivables | 40 | €498,559 | €321,510 | -€177,048 | -35.5% |
| Other amounts receivable | 41 | €356,984 | €865,323 | +€508,339 | +142% |
| Cash at bank and in hand | 54/58 | €245,516 | €27,088 | -€218,428 | -89.0% |
| Deferred charges and accrued income | 490/1 | €0 | €1,265 | +€1,265 | |
| Total equity and liabilities | 10/49 | €2,452,739 | €2,863,490 | +€410,752 | +16.7% |
| Equity | 10/15 | €845,082 | €449,777 | -€395,305 | -46.8% |
| Contributions | 10/11 | €749,878 | €749,878 | = | 0.0% |
| Reserves | 13 | €95,204 | €0 | -€95,204 | -100% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €95,204 | €0 | -€95,204 | -100% |
| Profit (loss) carried forward | 14 | €0 | -€300,101 | -€300,101 | |
| Amounts payable | 17/49 | €1,607,656 | €2,413,713 | +€806,057 | +50.1% |
| Amounts payable after more than one year | 17 | - | €13,257 | +€13,257 | |
| Financial debts | 170/4 | - | €13,257 | +€13,257 | |
| Amounts payable within one year | 42/48 | €1,556,697 | €2,365,718 | +€809,021 | +52.0% |
| Financial debts | 43 | €262,720 | €200,000 | -€62,720 | -23.9% |
| Credit institutions | 430/8 | €262,720 | €200,000 | -€62,720 | -23.9% |
| Trade debts | 44 | €389,781 | €1,063,262 | +€673,482 | +173% |
| Suppliers | 440/4 | €389,781 | €1,063,262 | +€673,482 | +173% |
| Taxes, remuneration and social security | 45 | €42,058 | €45,918 | +€3,861 | +9.2% |
| Taxes | 450/3 | €776 | €8,655 | +€7,879 | +1,015% |
| Remuneration and social security | 454/9 | €41,282 | €37,263 | -€4,019 | -9.7% |
| Other amounts payable | 47/48 | €862,138 | €1,056,537 | +€194,399 | +22.5% |
| Accrued charges and deferred income | 492/3 | €50,959 | €34,738 | -€16,221 | -31.8% |
| Remuneration, social security and pensions | 62 | €335,927 | €379,471 | +€43,544 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,342 | €57,892 | +€11,550 | +24.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €10,128 | €14,441 | +€4,313 | +42.6% |
| Non-recurring operating charges | 66A | €0 | €44,984 | +€44,984 | |
| Gross operating margin | 9900 | €242,299 | €153,020 | -€89,279 | -36.8% |
| Operating profit (loss) | 9901 | -€150,098 | -€343,768 | -€193,670 | -129% |
| Financial income | 75/76B | €9,228 | €0 | -€9,228 | -100% |
| Recurring financial income | 75 | €9,228 | €0 | -€9,228 | -100% |
| Financial charges | 65/66B | €62,495 | €50,690 | -€11,806 | -18.9% |
| Recurring financial charges | 65 | €62,495 | €50,690 | -€11,806 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | -€203,365 | -€394,457 | -€191,092 | -94.0% |
| Income taxes | 67/77 | €668 | €848 | +€181 | +27.1% |
| Profit (loss) for the period | 9904 | -€204,033 | -€395,305 | -€191,272 | -93.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€204,033 | -€395,305 | -€191,272 | -93.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.