ROVEL: what changed
Two fiscal 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.
ROVEL
Largest movements
- Tangible fixed assets -€87,093
down €87,093 (-12.0%), from €726,691 to €639,597
of which Land and buildings: -€81,617
- Receivables within one year +€80,461
up €80,461 (+19.6%), from €411,102 to €491,563
of which Trade receivables: +€78,199
- Cash +€25,544
up €25,544 (+22.9%), from €111,490 to €137,034
mainly Net result for the year (+€116,470) and Depreciation (+€100,490)
- Other debts +€56,299
up €56,299 (+1165.7%), from €4,830 to €61,129
- Reserves +€55,000
up €55,000 (+6.4%), from €858,559 to €913,559
of which Distributable reserves: +€55,000
- Tax, wage and social debts -€43,837
down €43,837 (-39.3%), from €111,622 to €67,785
of which Taxes: -€50,839
- Debts after one year -€27,252
down €27,252 (-15.4%), from €177,452 to €150,200
- Staff costs +€79,962
up €79,962 (+34.4%), from €232,774 to €312,736
- Taxes -€38,178
down €38,178 (-40.4%), from €94,589 to €56,410
- Gross operating margin -€31,197
down €31,197 (-5.0%), from €625,457 to €594,261
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 | €1,254,897 | €1,285,246 | +€30,349 | +2.4% |
| Fixed assets | 21/28 | €726,691 | €639,597 | -€87,093 | -12.0% |
| Tangible fixed assets | 22/27 | €726,691 | €639,597 | -€87,093 | -12.0% |
| Land and buildings | 22 | €683,412 | €601,795 | -€81,617 | -11.9% |
| Plant, machinery and equipment | 23 | €14,594 | €9,223 | -€5,371 | -36.8% |
| Furniture and vehicles | 24 | €28,685 | €28,580 | -€105 | -0.4% |
| Current assets | 29/58 | €528,206 | €645,648 | +€117,442 | +22.2% |
| Amounts receivable within one year | 40/41 | €411,102 | €491,563 | +€80,461 | +19.6% |
| Trade receivables | 40 | €410,381 | €488,580 | +€78,199 | +19.1% |
| Other amounts receivable | 41 | €721 | €2,983 | +€2,262 | +313.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €111,490 | €137,034 | +€25,544 | +22.9% |
| Deferred charges and accrued income | 490/1 | €5,614 | €17,051 | +€11,438 | +203.7% |
| Total equity and liabilities | 10/49 | €1,254,897 | €1,285,246 | +€30,349 | +2.4% |
| Equity | 10/15 | €921,617 | €978,087 | +€56,470 | +6.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €858,559 | €913,559 | +€55,000 | +6.4% |
| 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 | €16,700 | €16,700 | = | 0.0% |
| Distributable reserves | 133 | €840,000 | €895,000 | +€55,000 | +6.5% |
| Profit (loss) carried forward | 14 | €44,466 | €45,936 | +€1,470 | +3.3% |
| Amounts payable | 17/49 | €333,280 | €307,159 | -€26,121 | -7.8% |
| Amounts payable after more than one year | 17 | €177,452 | €150,200 | -€27,252 | -15.4% |
| Financial debts | 170/4 | €177,452 | €150,200 | -€27,252 | -15.4% |
| Amounts payable within one year | 42/48 | €155,407 | €156,716 | +€1,309 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €26,972 | €27,252 | +€280 | +1.0% |
| Financial debts | 43 | €1,124 | €506 | -€619 | -55.0% |
| Credit institutions | 430/8 | €1,124 | €506 | -€619 | -55.0% |
| Trade debts | 44 | €10,859 | €44 | -€10,815 | -99.6% |
| Suppliers | 440/4 | €10,859 | €44 | -€10,815 | -99.6% |
| Taxes, remuneration and social security | 45 | €111,622 | €67,785 | -€43,837 | -39.3% |
| Taxes | 450/3 | €87,225 | €36,386 | -€50,839 | -58.3% |
| Remuneration and social security | 454/9 | €24,397 | €31,399 | +€7,002 | +28.7% |
| Other amounts payable | 47/48 | €4,830 | €61,129 | +€56,299 | +1165.7% |
| Accrued charges and deferred income | 492/3 | €421 | €243 | -€178 | -42.2% |
| Remuneration, social security and pensions | 62 | €232,774 | €312,736 | +€79,962 | +34.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,283 | €100,490 | +€1,207 | +1.2% |
| Other operating charges | 640/8 | €4,059 | €4,332 | +€273 | +6.7% |
| Gross operating margin | 9900 | €625,457 | €594,261 | -€31,197 | -5.0% |
| Operating profit (loss) | 9901 | €289,342 | €176,703 | -€112,639 | -38.9% |
| Financial income | 75/76B | €122 | €139 | +€17 | +14.0% |
| Recurring financial income | 75 | €122 | €139 | +€17 | +14.0% |
| Financial charges | 65/66B | €5,735 | €3,961 | -€1,774 | -30.9% |
| Recurring financial charges | 65 | €5,735 | €3,961 | -€1,774 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €283,729 | €172,880 | -€110,848 | -39.1% |
| Income taxes | 67/77 | €94,589 | €56,410 | -€38,178 | -40.4% |
| Profit (loss) for the period | 9904 | €189,140 | €116,470 | -€72,670 | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €189,140 | €116,470 | -€72,670 | -38.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.