ROVANDE: 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.
ROVANDE
Largest movements
- Tangible fixed assets +€302,417
up €302,417 (+48.9%), from €618,435 to €920,852
- Cash -€19,406
down €19,406 (-58.3%), from €33,280 to €13,873
mainly Investment in fixed assets (net) (-€334,035) and Net result for the year (-€16,672)
- Debts after one year +€163,067
new in 2025: €163,067
- Other debts +€125,586
up €125,586 (+128%), from €97,966 to €223,551
- Current portion of long-term debt +€15,651
new in 2025: €15,651
- Reserves -€9,621
down €9,621 (-2.5%), from €391,103 to €381,481
of which Tax-exempt reserves: -€9,621
- Depreciation +€9,075
up €9,075 (+40.3%), from €22,543 to €31,618
- Financial charges +€625
up €625 (+190%), from €329 to €954
- Taxes -€561
no longer reported in 2025 (was €561)
- Gross operating margin +€162
up €162 (+1.1%), from €14,760 to €14,922
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 | €655,643 | €941,066 | +€285,423 | +43.5% |
| Fixed assets | 21/28 | €618,435 | €920,852 | +€302,417 | +48.9% |
| Tangible fixed assets | 22/27 | €618,435 | €920,852 | +€302,417 | +48.9% |
| Land and buildings | 22 | €618,435 | €920,852 | +€302,417 | +48.9% |
| Current assets | 29/58 | €37,208 | €20,213 | -€16,994 | -45.7% |
| Amounts receivable within one year | 40/41 | €3,926 | €4,873 | +€947 | +24.1% |
| Trade receivables | 40 | €3,488 | €3,488 | = | 0.0% |
| Other amounts receivable | 41 | €439 | €1,385 | +€947 | +216% |
| Current investments | 50/53 | €2 | €2 | -€0 | -8.0% |
| Cash at bank and in hand | 54/58 | €33,280 | €13,873 | -€19,406 | -58.3% |
| Deferred charges and accrued income | 490/1 | - | €1,465 | +€1,465 | |
| Total equity and liabilities | 10/49 | €655,643 | €941,066 | +€285,423 | +43.5% |
| Equity | 10/15 | €426,879 | €410,207 | -€16,672 | -3.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €391,103 | €381,481 | -€9,621 | -2.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €389,244 | €379,622 | -€9,621 | -2.5% |
| Profit (loss) carried forward | 14 | €17,184 | €10,134 | -€7,050 | -41.0% |
| Provisions and deferred taxes | 16 | €129,748 | €126,541 | -€3,207 | -2.5% |
| Deferred taxes | 168 | €129,748 | €126,541 | -€3,207 | -2.5% |
| Amounts payable | 17/49 | €99,016 | €404,318 | +€305,302 | +308% |
| Amounts payable after more than one year | 17 | - | €163,067 | +€163,067 | |
| Financial debts | 170/4 | - | €163,067 | +€163,067 | |
| Amounts payable within one year | 42/48 | €97,966 | €241,057 | +€143,092 | +146% |
| Current portion of amounts payable after more than one year | 42 | - | €15,651 | +€15,651 | |
| Trade debts | 44 | - | €85 | +€85 | |
| Suppliers | 440/4 | - | €85 | +€85 | |
| Taxes, remuneration and social security | 45 | - | €1,770 | +€1,770 | |
| Taxes | 450/3 | - | €1,770 | +€1,770 | |
| Other amounts payable | 47/48 | €97,966 | €223,551 | +€125,586 | +128% |
| Accrued charges and deferred income | 492/3 | €1,050 | €194 | -€857 | -81.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,543 | €31,618 | +€9,075 | +40.3% |
| Other operating charges | 640/8 | €2,086 | €2,229 | +€143 | +6.9% |
| Gross operating margin | 9900 | €14,760 | €14,922 | +€162 | +1.1% |
| Operating profit (loss) | 9901 | -€9,868 | -€18,925 | -€9,056 | -91.8% |
| Financial charges | 65/66B | €329 | €954 | +€625 | +190% |
| Recurring financial charges | 65 | €329 | €954 | +€625 | +190% |
| Profit (loss) for the period before taxes | 9903 | -€10,198 | -€19,879 | -€9,681 | -94.9% |
| Transfer from deferred taxes | 780 | €3,111 | €3,207 | +€96 | +3.1% |
| Income taxes | 67/77 | €561 | - | -€561 | |
| Profit (loss) for the period | 9904 | -€7,648 | -€16,672 | -€9,023 | -118% |
| Transfer from tax-exempt reserves | 789 | €9,333 | €9,621 | +€289 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,684 | -€7,050 | -€8,734 |
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 27 October 2026 via checked.be.