ROJA: what changed
ROJA
Largest movements
- Cash -€276,760
down €276,760 (-96.8%), from €285,816 to €9,056
mainly Receivables within one year (-€176,530) and Investment in fixed assets (net) (-€161,953)
- Receivables within one year +€176,530
up €176,530 (+1,597%), from €11,052 to €187,582
of which Other amounts receivable: +€153,542
- Financial fixed assets +€161,953
new in 2025: €161,953
- Tangible fixed assets -€21,858
down €21,858 (-3.8%), from €573,474 to €551,616
- Current portion of long-term debt +€76,706
up €76,706 (+626%), from €12,263 to €88,969
- Reserves +€67,018
up €67,018 (+23.4%), from €286,710 to €353,728
of which Distributable reserves: +€67,018
- Short-term financial debts -€41,647
no longer reported in 2025 (was €41,647)
- Tax, wage and social debts -€40,161
no longer reported in 2025 (was €40,161)
- Accrued charges and deferred income -€13,990
down €13,990 (-59.7%), from €23,430 to €9,440
- Gross operating margin -€60,041
down €60,041 (-30.0%), from €200,445 to €140,404
- Taxes -€15,884
down €15,884 (-41.6%), from €38,223 to €22,339
- Financial charges +€5,145
up €5,145 (+130%), from €3,968 to €9,112
- Other operating charges -€3,712
down €3,712 (-15.6%), from €23,789 to €20,077
- Depreciation +€2,063
up €2,063 (+10.4%), from €19,795 to €21,858
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €870,342 | €913,124 | +€42,782 | +4.9% |
| Fixed assets | 21/28 | €573,474 | €713,568 | +€140,094 | +24.4% |
| Tangible fixed assets | 22/27 | €573,474 | €551,616 | -€21,858 | -3.8% |
| Land and buildings | 22 | €573,474 | €551,616 | -€21,858 | -3.8% |
| Financial fixed assets | 28 | - | €161,953 | +€161,953 | |
| Current assets | 29/58 | €296,868 | €199,556 | -€97,312 | -32.8% |
| Amounts receivable within one year | 40/41 | €11,052 | €187,582 | +€176,530 | +1,597% |
| Trade receivables | 40 | €2,118 | €25,105 | +€22,988 | +1,086% |
| Other amounts receivable | 41 | €8,935 | €162,477 | +€153,542 | +1,719% |
| Cash at bank and in hand | 54/58 | €285,816 | €9,056 | -€276,760 | -96.8% |
| Deferred charges and accrued income | 490/1 | - | €2,918 | +€2,918 | |
| Total equity and liabilities | 10/49 | €870,342 | €913,124 | +€42,782 | +4.9% |
| Equity | 10/15 | €305,302 | €372,320 | +€67,018 | +22.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €286,710 | €353,728 | +€67,018 | +23.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €284,851 | €351,869 | +€67,018 | +23.5% |
| Amounts payable | 17/49 | €565,040 | €540,804 | -€24,236 | -4.3% |
| Amounts payable after more than one year | 17 | €428,764 | €424,024 | -€4,740 | -1.1% |
| Financial debts | 170/4 | €281,027 | €309,042 | +€28,016 | +10.0% |
| Other amounts payable | 178/9 | €147,737 | €114,982 | -€32,756 | -22.2% |
| Amounts payable within one year | 42/48 | €112,846 | €107,340 | -€5,506 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €12,263 | €88,969 | +€76,706 | +626% |
| Financial debts | 43 | €41,647 | - | -€41,647 | |
| Credit institutions | 430/8 | €41,647 | - | -€41,647 | |
| Trade debts | 44 | €18,775 | €18,372 | -€403 | -2.1% |
| Suppliers | 440/4 | €18,775 | €18,372 | -€403 | -2.1% |
| Taxes, remuneration and social security | 45 | €40,161 | - | -€40,161 | |
| Taxes | 450/3 | €40,161 | - | -€40,161 | |
| Accrued charges and deferred income | 492/3 | €23,430 | €9,440 | -€13,990 | -59.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,795 | €21,858 | +€2,063 | +10.4% |
| Other operating charges | 640/8 | €23,789 | €20,077 | -€3,712 | -15.6% |
| Gross operating margin | 9900 | €200,445 | €140,404 | -€60,041 | -30.0% |
| Operating profit (loss) | 9901 | €156,861 | €98,469 | -€58,392 | -37.2% |
| Financial charges | 65/66B | €3,968 | €9,112 | +€5,145 | +130% |
| Recurring financial charges | 65 | €3,968 | €9,112 | +€5,145 | +130% |
| Profit (loss) for the period before taxes | 9903 | €152,893 | €89,357 | -€63,536 | -41.6% |
| Income taxes | 67/77 | €38,223 | €22,339 | -€15,884 | -41.6% |
| Profit (loss) for the period | 9904 | €114,670 | €67,018 | -€47,652 | -41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €114,670 | €67,018 | -€47,652 | -41.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.