ROWA PROJECTS: 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.
ROWA PROJECTS
Largest movements
- Receivables after one year +€806,143
up €806,143 (+39.3%), from €2.1m to €2.9m
- Stocks and contracts -€502,631
down €502,631 (-30.5%), from €1.7m to €1.1m
- Receivables within one year -€332,695
down €332,695 (-23.9%), from €1.4m to €1.1m
of which Trade receivables: -€371,558
- Cash -€201,316
down €201,316 (-42.1%), from €478,367 to €277,052
mainly Receivables after one year (-€806,143) and Net result for the year (-€213,428)
- Financial fixed assets -€143,593
down €143,593 (-100.0%), from €143,593 to €0
- Profit (loss) carried forward -€213,428
down €213,428 (-32.1%), from -€665,105 to -€878,534
- Accrued charges and deferred income -€109,955
down €109,955 (-35.3%), from €311,674 to €201,719
- Debts after one year +€74,920
up €74,920 (+1.5%), from €5.2m to €5.2m
of which Financial debts: +€200,000
- Gross operating margin -€175,357
down €175,357 (-50.6%), from €346,719 to €171,362
- Financial charges +€84,667
up €84,667 (+77.7%), from €109,022 to €193,689
- Financial income +€65,685
up €65,685 (+251.1%), from €26,159 to €91,845
- Staff costs +€56,488
new in 2025: €56,488
- Taxes +€28,275
new in 2025: €28,275
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 | €5,734,207 | €5,425,339 | -€308,868 | -5.4% |
| Fixed assets | 21/28 | €143,593 | €0 | -€143,593 | -100.0% |
| Financial fixed assets | 28 | €143,593 | €0 | -€143,593 | -100.0% |
| Current assets | 29/58 | €5,590,614 | €5,425,339 | -€165,275 | -3.0% |
| Amounts receivable after more than one year | 29 | €2,053,613 | €2,859,757 | +€806,143 | +39.3% |
| Other amounts receivable | 291 | €2,053,613 | €2,859,757 | +€806,143 | +39.3% |
| Stocks and contracts in progress | 3 | €1,650,568 | €1,147,937 | -€502,631 | -30.5% |
| Stocks | 30/36 | €1,650,568 | €1,147,937 | -€502,631 | -30.5% |
| Amounts receivable within one year | 40/41 | €1,389,545 | €1,056,850 | -€332,695 | -23.9% |
| Trade receivables | 40 | €1,355,591 | €984,033 | -€371,558 | -27.4% |
| Other amounts receivable | 41 | €33,954 | €72,817 | +€38,863 | +114.5% |
| Cash at bank and in hand | 54/58 | €478,367 | €277,052 | -€201,316 | -42.1% |
| Deferred charges and accrued income | 490/1 | €18,520 | €83,743 | +€65,224 | +352.2% |
| Total equity and liabilities | 10/49 | €5,734,207 | €5,425,339 | -€308,868 | -5.4% |
| Equity | 10/15 | €180,023 | -€33,405 | -€213,428 | |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €826,578 | €826,578 | = | 0.0% |
| Distributable reserves | 133 | €826,578 | €826,578 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€665,105 | -€878,534 | -€213,428 | -32.1% |
| Amounts payable | 17/49 | €5,554,184 | €5,458,744 | -€95,439 | -1.7% |
| Amounts payable after more than one year | 17 | €5,156,349 | €5,231,270 | +€74,920 | +1.5% |
| Financial debts | 170/4 | €5,000,000 | €5,200,000 | +€200,000 | +4.0% |
| Trade debts | 175 | €156,349 | €31,270 | -€125,080 | -80.0% |
| Amounts payable within one year | 42/48 | €86,160 | €25,755 | -€60,405 | -70.1% |
| Trade debts | 44 | €11,794 | €6,540 | -€5,254 | -44.5% |
| Suppliers | 440/4 | €11,794 | €6,540 | -€5,254 | -44.5% |
| Taxes, remuneration and social security | 45 | €74,366 | €19,215 | -€55,151 | -74.2% |
| Taxes | 450/3 | €70,811 | €19,215 | -€51,596 | -72.9% |
| Remuneration and social security | 454/9 | €3,555 | €0 | -€3,555 | -100.0% |
| Accrued charges and deferred income | 492/3 | €311,674 | €201,719 | -€109,955 | -35.3% |
| Remuneration, social security and pensions | 62 | - | €56,488 | +€56,488 | |
| Other operating charges | 640/8 | €2,563 | €1,118 | -€1,444 | -56.4% |
| Non-recurring operating charges | 66A | €471,210 | €197,064 | -€274,146 | -58.2% |
| Gross operating margin | 9900 | €346,719 | €171,362 | -€175,357 | -50.6% |
| Operating profit (loss) | 9901 | -€127,054 | -€83,309 | +€43,745 | +34.4% |
| Financial income | 75/76B | €26,159 | €91,845 | +€65,685 | +251.1% |
| Recurring financial income | 75 | €26,159 | €91,845 | +€65,685 | +251.1% |
| Financial charges | 65/66B | €109,022 | €193,689 | +€84,667 | +77.7% |
| Recurring financial charges | 65 | €109,022 | €193,689 | +€84,667 | +77.7% |
| Profit (loss) for the period before taxes | 9903 | -€209,917 | -€185,153 | +€24,763 | +11.8% |
| Income taxes | 67/77 | - | €28,275 | +€28,275 | |
| Profit (loss) for the period | 9904 | -€209,917 | -€213,428 | -€3,512 | -1.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€209,917 | -€213,428 | -€3,512 | -1.7% |
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 6 October 2026 via checked.be.