TOM ROTTIERS: 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.
TOM ROTTIERS
Largest movements
- Receivables after one year -€200,000
no longer reported in 2025 (was €200,000)
- Receivables within one year -€118,031
down €118,031 (-25.4%), from €465,506 to €347,476
of which Trade receivables: -€147,140
- Cash +€104,171
up €104,171 (+46.3%), from €225,109 to €329,280
mainly Depreciation (+€298,659) and Receivables after one year (+€200,000)
- Tangible fixed assets +€63,248
up €63,248 (+2.1%), from €3.1m to €3.1m
of which Plant, machinery and equipment: +€75,608
- Trade debts -€403,087
down €403,087 (-54.8%), from €736,083 to €332,997
- Other debts -€165,043
down €165,043 (-90.5%), from €182,402 to €17,359
- Short-term financial debts +€155,100
up €155,100 (+21,771%), from €712 to €155,812
- Current portion of long-term debt +€103,730
up €103,730 (+49.8%), from €208,092 to €311,821
- Reserves +€78,966
up €78,966 (+24.7%), from €319,275 to €398,241
of which Distributable reserves: +€78,966
- Gross operating margin -€230,610
down €230,610 (-25.3%), from €910,124 to €679,514
- Depreciation -€164,395
down €164,395 (-35.5%), from €463,054 to €298,659
- Other operating charges -€90,615
down €90,615 (-75.7%), from €119,664 to €29,049
- Staff costs -€83,298
down €83,298 (-44.5%), from €187,159 to €103,860
- Financial charges +€78,753
up €78,753 (+133%), from €59,032 to €137,785
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 | €4,021,013 | €3,850,527 | -€170,486 | -4.2% |
| Fixed assets | 21/28 | €3,076,355 | €3,139,603 | +€63,248 | +2.1% |
| Tangible fixed assets | 22/27 | €3,073,355 | €3,136,603 | +€63,248 | +2.1% |
| Land and buildings | 22 | €2,195,591 | €2,245,989 | +€50,398 | +2.3% |
| Plant, machinery and equipment | 23 | €5,344 | €80,951 | +€75,608 | +1,415% |
| Furniture and vehicles | 24 | €140,532 | €129,459 | -€11,073 | -7.9% |
| Leasing and similar rights | 25 | €731,888 | €680,204 | -€51,684 | -7.1% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €944,658 | €710,923 | -€233,734 | -24.7% |
| Amounts receivable after more than one year | 29 | €200,000 | - | -€200,000 | |
| Other amounts receivable | 291 | €200,000 | - | -€200,000 | |
| Stocks and contracts in progress | 3 | €24,840 | €4,965 | -€19,875 | -80.0% |
| Stocks | 30/36 | €24,840 | €4,965 | -€19,875 | -80.0% |
| Amounts receivable within one year | 40/41 | €465,506 | €347,476 | -€118,031 | -25.4% |
| Trade receivables | 40 | €374,106 | €226,966 | -€147,140 | -39.3% |
| Other amounts receivable | 41 | €91,401 | €120,510 | +€29,109 | +31.8% |
| Current investments | 50/53 | €29,203 | €29,203 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €225,109 | €329,280 | +€104,171 | +46.3% |
| Total equity and liabilities | 10/49 | €4,021,013 | €3,850,527 | -€170,486 | -4.2% |
| Equity | 10/15 | €337,875 | €416,841 | +€78,966 | +23.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €319,275 | €398,241 | +€78,966 | +24.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €317,415 | €396,381 | +€78,966 | +24.9% |
| Amounts payable | 17/49 | €3,683,138 | €3,433,686 | -€249,452 | -6.8% |
| Amounts payable after more than one year | 17 | €2,528,736 | €2,576,938 | +€48,202 | +1.9% |
| Financial debts | 170/4 | €2,377,036 | €2,401,938 | +€24,902 | +1.0% |
| Other amounts payable | 178/9 | €151,700 | €175,000 | +€23,300 | +15.4% |
| Amounts payable within one year | 42/48 | €1,154,402 | €856,748 | -€297,654 | -25.8% |
| Current portion of amounts payable after more than one year | 42 | €208,092 | €311,821 | +€103,730 | +49.8% |
| Financial debts | 43 | €712 | €155,812 | +€155,100 | +21,771% |
| Credit institutions | 430/8 | €712 | €155,812 | +€155,100 | +21,771% |
| Trade debts | 44 | €736,083 | €332,997 | -€403,087 | -54.8% |
| Suppliers | 440/4 | €736,083 | €332,997 | -€403,087 | -54.8% |
| Taxes, remuneration and social security | 45 | €27,112 | €38,759 | +€11,647 | +43.0% |
| Taxes | 450/3 | €20,673 | €36,338 | +€15,665 | +75.8% |
| Remuneration and social security | 454/9 | €6,439 | €2,421 | -€4,018 | -62.4% |
| Other amounts payable | 47/48 | €182,402 | €17,359 | -€165,043 | -90.5% |
| Non-recurring operating income | 76A | €17,243 | - | -€17,243 | |
| Remuneration, social security and pensions | 62 | €187,159 | €103,860 | -€83,298 | -44.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €463,054 | €298,659 | -€164,395 | -35.5% |
| Other operating charges | 640/8 | €119,664 | €29,049 | -€90,615 | -75.7% |
| Gross operating margin | 9900 | €910,124 | €679,514 | -€230,610 | -25.3% |
| Operating profit (loss) | 9901 | €140,247 | €247,945 | +€107,698 | +76.8% |
| Financial income | 75/76B | €1,458 | €1,873 | +€415 | +28.5% |
| Recurring financial income | 75 | €1,458 | €1,873 | +€415 | +28.5% |
| Financial charges | 65/66B | €59,032 | €137,785 | +€78,753 | +133% |
| Recurring financial charges | 65 | €59,032 | €137,785 | +€78,753 | +133% |
| Profit (loss) for the period before taxes | 9903 | €82,672 | €112,033 | +€29,360 | +35.5% |
| Income taxes | 67/77 | €20,379 | €33,067 | +€12,688 | +62.3% |
| Profit (loss) for the period | 9904 | €62,294 | €78,966 | +€16,672 | +26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €62,294 | €78,966 | +€16,672 | +26.8% |
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 29 October 2026 via checked.be.