ROOTS: 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.
ROOTS
Largest movements
- Receivables after one year +€126,437
up €126,437 (+7.4%), from €1.7m to €1.8m
- Receivables within one year +€89,490
up €89,490 (+13.5%), from €661,470 to €750,960
of which Other amounts receivable: +€240,290
- Debts after one year +€191,275
up €191,275 (+13.2%), from €1.4m to €1.6m
- Other debts -€112,820
down €112,820 (-96.5%), from €116,868 to €4,048
- Trade debts -€108,713
down €108,713 (-66.8%), from €162,756 to €54,043
- Reserves +€104,592
up €104,592 (+354%), from €29,577 to €134,168
of which Distributable reserves: +€104,592
- Current portion of long-term debt +€72,029
up €72,029 (+33.3%), from €216,289 to €288,318
- Financial income +€70,167
up €70,167 (+240%), from €29,228 to €99,396
- Taxes +€52,457
up €52,457 (+206%), from €25,435 to €77,893
- Gross operating margin +€34,717
up €34,717 (+18.9%), from €183,288 to €218,005
- Depreciation +€13,462
up €13,462 (+21.6%), from €62,394 to €75,857
- Write-downs -€7,500
new in 2025: -€7,500
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 | €3,459,714 | €3,672,289 | +€212,575 | +6.1% |
| Fixed assets | 21/28 | €1,074,940 | €1,075,699 | +€759 | +0.1% |
| Tangible fixed assets | 22/27 | €1,074,911 | €1,075,670 | +€759 | +0.1% |
| Land and buildings | 22 | €899,982 | €917,761 | +€17,779 | +2.0% |
| Plant, machinery and equipment | 23 | €7,354 | €5,830 | -€1,523 | -20.7% |
| Furniture and vehicles | 24 | €65,307 | €69,727 | +€4,421 | +6.8% |
| Leasing and similar rights | 25 | €102,269 | €82,351 | -€19,918 | -19.5% |
| Financial fixed assets | 28 | €29 | €29 | = | 0.0% |
| Current assets | 29/58 | €2,384,774 | €2,596,590 | +€211,816 | +8.9% |
| Amounts receivable after more than one year | 29 | €1,706,087 | €1,832,524 | +€126,437 | +7.4% |
| Other amounts receivable | 291 | €1,706,087 | €1,832,524 | +€126,437 | +7.4% |
| Amounts receivable within one year | 40/41 | €661,470 | €750,960 | +€89,490 | +13.5% |
| Trade receivables | 40 | €231,550 | €80,750 | -€150,800 | -65.1% |
| Other amounts receivable | 41 | €429,920 | €670,210 | +€240,290 | +55.9% |
| Cash at bank and in hand | 54/58 | €7,035 | €3,070 | -€3,965 | -56.4% |
| Deferred charges and accrued income | 490/1 | €10,182 | €10,036 | -€146 | -1.4% |
| Total equity and liabilities | 10/49 | €3,459,714 | €3,672,289 | +€212,575 | +6.1% |
| Equity | 10/15 | €1,502,213 | €1,606,805 | +€104,592 | +7.0% |
| Contributions | 10/11 | €9,285 | €9,285 | = | 0.0% |
| Reserves | 13 | €29,577 | €134,168 | +€104,592 | +354% |
| Tax-exempt reserves | 132 | €28,079 | €28,079 | = | 0.0% |
| Distributable reserves | 133 | €1,498 | €106,089 | +€104,592 | +6,984% |
| Profit (loss) carried forward | 14 | €1,463,351 | €1,463,351 | = | 0.0% |
| Amounts payable | 17/49 | €1,957,501 | €2,065,484 | +€107,983 | +5.5% |
| Amounts payable after more than one year | 17 | €1,445,450 | €1,636,725 | +€191,275 | +13.2% |
| Financial debts | 170/4 | €1,445,450 | €1,636,725 | +€191,275 | +13.2% |
| Amounts payable within one year | 42/48 | €511,717 | €428,759 | -€82,958 | -16.2% |
| Current portion of amounts payable after more than one year | 42 | €216,289 | €288,318 | +€72,029 | +33.3% |
| Trade debts | 44 | €162,756 | €54,043 | -€108,713 | -66.8% |
| Suppliers | 440/4 | €162,756 | €54,043 | -€108,713 | -66.8% |
| Taxes, remuneration and social security | 45 | €15,804 | €82,350 | +€66,546 | +421% |
| Taxes | 450/3 | €15,804 | €82,350 | +€66,546 | +421% |
| Other amounts payable | 47/48 | €116,868 | €4,048 | -€112,820 | -96.5% |
| Accrued charges and deferred income | 492/3 | €334 | €0 | -€334 | -100% |
| Non-recurring operating income | 76A | - | €8,961 | +€8,961 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,394 | €75,857 | +€13,462 | +21.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€7,500 | -€7,500 | |
| Other operating charges | 640/8 | €7,551 | €8,023 | +€472 | +6.2% |
| Gross operating margin | 9900 | €183,288 | €218,005 | +€34,717 | +18.9% |
| Operating profit (loss) | 9901 | €113,343 | €141,626 | +€28,283 | +25.0% |
| Financial income | 75/76B | €29,228 | €99,396 | +€70,167 | +240% |
| Recurring financial income | 75 | €29,228 | €99,396 | +€70,167 | +240% |
| Financial charges | 65/66B | €63,318 | €58,537 | -€4,781 | -7.6% |
| Recurring financial charges | 65 | €63,318 | €58,537 | -€4,781 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €79,253 | €182,484 | +€103,231 | +130% |
| Income taxes | 67/77 | €25,435 | €77,893 | +€52,457 | +206% |
| Profit (loss) for the period | 9904 | €53,817 | €104,592 | +€50,774 | +94.3% |
| Profit (loss) for the period to be appropriated | 9905 | €53,817 | €104,592 | +€50,774 | +94.3% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.