FREDDY ROELS: 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.
FREDDY ROELS
Largest movements
- Tangible fixed assets -€20,928
down €20,928 (-4.3%), from €485,014 to €464,086
of which Land and buildings: -€20,160
- Cash +€14,145
up €14,145 (+16.6%), from €85,258 to €99,403
mainly Depreciation (+€20,928) and Net result for the year (+€9,819)
- Profit (loss) carried forward +€20,864
up €20,864, from -€12,569 to €8,295
- Reserves -€11,045
down €11,045 (-3.9%), from €281,745 to €270,700
of which Tax-exempt reserves: -€11,045
- Gross operating margin +€4,258
up €4,258 (+25.1%), from €16,996 to €21,254
- Financial income +€3,374
up €3,374 (+43.5%), from €7,754 to €11,128
- Depreciation +€344
up €344 (+1.7%), from €20,584 to €20,928
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 | €963,621 | €966,111 | +€2,489 | +0.3% |
| Fixed assets | 21/28 | €485,014 | €464,086 | -€20,928 | -4.3% |
| Tangible fixed assets | 22/27 | €485,014 | €464,086 | -€20,928 | -4.3% |
| Land and buildings | 22 | €477,536 | €457,376 | -€20,160 | -4.2% |
| Plant, machinery and equipment | 23 | €775 | €7 | -€768 | -99.1% |
| Furniture and vehicles | 24 | €6,703 | €6,703 | = | 0.0% |
| Current assets | 29/58 | €478,607 | €502,025 | +€23,417 | +4.9% |
| Amounts receivable within one year | 40/41 | €389,207 | €395,404 | +€6,197 | +1.6% |
| Other amounts receivable | 41 | €389,207 | €395,404 | +€6,197 | +1.6% |
| Cash at bank and in hand | 54/58 | €85,258 | €99,403 | +€14,145 | +16.6% |
| Deferred charges and accrued income | 490/1 | €4,142 | €7,218 | +€3,076 | +74.3% |
| Total equity and liabilities | 10/49 | €963,621 | €966,111 | +€2,489 | +0.3% |
| Equity | 10/15 | €866,525 | €876,344 | +€9,819 | +1.1% |
| Contributions | 10/11 | €597,349 | €597,349 | = | 0.0% |
| Capital | 10 | €597,331 | €597,331 | = | 0.0% |
| Issued capital | 100 | €597,331 | €597,331 | = | 0.0% |
| Contributions outside capital | 11 | €18 | €18 | = | 0.0% |
| Other | 1109/19 | €18 | €18 | = | 0.0% |
| Reserves | 13 | €281,745 | €270,700 | -€11,045 | -3.9% |
| Non-distributable reserves | 130/1 | €29,202 | €29,202 | = | 0.0% |
| Legal reserve | 130 | €29,202 | €29,202 | = | 0.0% |
| Tax-exempt reserves | 132 | €252,066 | €241,021 | -€11,045 | -4.4% |
| Distributable reserves | 133 | €477 | €477 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,569 | €8,295 | +€20,864 | |
| Provisions and deferred taxes | 16 | €84,022 | €80,340 | -€3,682 | -4.4% |
| Deferred taxes | 168 | €84,022 | €80,340 | -€3,682 | -4.4% |
| Amounts payable | 17/49 | €13,074 | €9,426 | -€3,648 | -27.9% |
| Amounts payable within one year | 42/48 | €8,182 | €5,432 | -€2,750 | -33.6% |
| Trade debts | 44 | €8,182 | €5,432 | -€2,750 | -33.6% |
| Suppliers | 440/4 | €8,182 | €5,432 | -€2,750 | -33.6% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €4,892 | €3,994 | -€898 | -18.4% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,584 | €20,928 | +€344 | +1.7% |
| Other operating charges | 640/8 | €4,500 | €4,584 | +€84 | +1.9% |
| Gross operating margin | 9900 | €16,996 | €21,254 | +€4,258 | +25.1% |
| Operating profit (loss) | 9901 | -€8,088 | -€4,258 | +€3,830 | +47.4% |
| Financial income | 75/76B | €7,754 | €11,128 | +€3,374 | +43.5% |
| Recurring financial income | 75 | €7,754 | €11,128 | +€3,374 | +43.5% |
| Financial charges | 65/66B | €523 | €733 | +€209 | +40.0% |
| Recurring financial charges | 65 | €523 | €733 | +€209 | +40.0% |
| Profit (loss) for the period before taxes | 9903 | -€857 | €6,137 | +€6,994 | |
| Transfer from deferred taxes | 780 | €3,682 | €3,682 | = | 0.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €2,825 | €9,819 | +€6,994 | +248% |
| Transfer from tax-exempt reserves | 789 | €11,045 | €11,045 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,870 | €20,864 | +€6,994 | +50.4% |
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 15 October 2026 via checked.be.