ROWIES A.: 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.
ROWIES A.
Largest movements
- Receivables within one year +€40,310
up €40,310 (+78.5%), from €51,357 to €91,667
of which Other amounts receivable: +€42,988
- Cash -€9,596
down €9,596 (-6.1%), from €156,812 to €147,216
mainly Receivables within one year (-€40,310) and Investment in fixed assets (net) (-€29,701)
- Reserves +€37,214
up €37,214 (+10.3%), from €361,076 to €398,290
of which Distributable reserves: +€37,214
- Debts after one year -€9,613
no longer reported in 2025 (was €9,613)
- Tax, wage and social debts +€4,986
up €4,986 (+26.4%), from €18,899 to €23,885
- Other operating charges -€12,910
down €12,910 (-74.1%), from €17,412 to €4,502
- Gross operating margin +€8,603
up €8,603 (+10.3%), from €83,293 to €91,896
- Taxes +€8,586
up €8,586 (+61.8%), from €13,893 to €22,479
- Depreciation +€7,613
up €7,613 (+38.1%), from €19,985 to €27,598
- Write-downs +€2,514
new in 2025: €2,514
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 | €412,946 | €445,763 | +€32,817 | +7.9% |
| Fixed assets | 21/28 | €204,777 | €206,881 | +€2,104 | +1.0% |
| Tangible fixed assets | 22/27 | €204,777 | €206,881 | +€2,104 | +1.0% |
| Land and buildings | 22 | €188,983 | €194,719 | +€5,735 | +3.0% |
| Plant, machinery and equipment | 23 | €5,175 | €5,066 | -€109 | -2.1% |
| Furniture and vehicles | 24 | €10,619 | €7,097 | -€3,522 | -33.2% |
| Current assets | 29/58 | €208,169 | €238,883 | +€30,714 | +14.8% |
| Amounts receivable within one year | 40/41 | €51,357 | €91,667 | +€40,310 | +78.5% |
| Trade receivables | 40 | €40,947 | €38,269 | -€2,679 | -6.5% |
| Other amounts receivable | 41 | €10,410 | €53,398 | +€42,988 | +413% |
| Cash at bank and in hand | 54/58 | €156,812 | €147,216 | -€9,596 | -6.1% |
| Total equity and liabilities | 10/49 | €412,946 | €445,763 | +€32,817 | +7.9% |
| Equity | 10/15 | €369,923 | €407,137 | +€37,214 | +10.1% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €361,076 | €398,290 | +€37,214 | +10.3% |
| Non-distributable reserves | 130/1 | €6,817 | €6,817 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,817 | €6,817 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,691 | €7,691 | = | 0.0% |
| Distributable reserves | 133 | €346,568 | €383,782 | +€37,214 | +10.7% |
| Profit (loss) carried forward | 14 | -€11,604 | -€11,604 | = | 0.0% |
| Amounts payable | 17/49 | €43,023 | €38,626 | -€4,397 | -10.2% |
| Amounts payable after more than one year | 17 | €9,613 | - | -€9,613 | |
| Financial debts | 170/4 | €9,613 | - | -€9,613 | |
| Amounts payable within one year | 42/48 | €33,410 | €38,626 | +€5,217 | +15.6% |
| Current portion of amounts payable after more than one year | 42 | €10,911 | €9,613 | -€1,298 | -11.9% |
| Trade debts | 44 | - | €1,529 | +€1,529 | |
| Suppliers | 440/4 | - | €1,529 | +€1,529 | |
| Advances received on contracts in progress | 46 | €3,600 | €3,600 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €18,899 | €23,885 | +€4,986 | +26.4% |
| Taxes | 450/3 | €18,899 | €23,885 | +€4,986 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,985 | €27,598 | +€7,613 | +38.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,514 | +€2,514 | |
| Other operating charges | 640/8 | €17,412 | €4,502 | -€12,910 | -74.1% |
| Gross operating margin | 9900 | €83,293 | €91,896 | +€8,603 | +10.3% |
| Operating profit (loss) | 9901 | €45,895 | €57,282 | +€11,386 | +24.8% |
| Financial income | 75/76B | €1,617 | €2,755 | +€1,138 | +70.4% |
| Recurring financial income | 75 | €1,617 | €2,755 | +€1,138 | +70.4% |
| Financial charges | 65/66B | €322 | €344 | +€22 | +6.8% |
| Recurring financial charges | 65 | €322 | €344 | +€22 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €47,190 | €59,693 | +€12,503 | +26.5% |
| Income taxes | 67/77 | €13,893 | €22,479 | +€8,586 | +61.8% |
| Profit (loss) for the period | 9904 | €33,297 | €37,214 | +€3,917 | +11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €33,297 | €37,214 | +€3,917 | +11.8% |
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 19 October 2026 via checked.be.