Frédéric Rousseaux Management: 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.
Frédéric Rousseaux Management
Largest movements
- Current investments +€86,834
up €86,834 (+54.5%), from €159,380 to €246,214
- Cash -€30,479
down €30,479 (-94.1%), from €32,401 to €1,922
mainly Current investments (-€86,834) and Contributions, distributions and other (-€80,000)
- Receivables within one year +€11,996
up €11,996 (+53.2%), from €22,543 to €34,540
of which Trade receivables: +€13,405
- Tangible fixed assets -€8,706
down €8,706 (-21.6%), from €40,278 to €31,572
of which Furniture and vehicles: -€10,104
- Other debts +€29,135
up €29,135 (+55.8%), from €52,221 to €81,356
- Tax, wage and social debts +€14,970
up €14,970, from €0 to €14,970
- Trade debts +€10,052
up €10,052 (+661%), from €1,521 to €11,573
- Reserves +€5,500
up €5,500 (+3.0%), from €185,403 to €190,903
- Gross operating margin +€34,552
up €34,552 (+37.9%), from €91,062 to €125,614
- Taxes +€8,492
up €8,492 (+38.9%), from €21,853 to €30,345
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 | €256,338 | €316,139 | +€59,802 | +23.3% |
| Fixed assets | 21/28 | €40,278 | €31,572 | -€8,706 | -21.6% |
| Tangible fixed assets | 22/27 | €40,278 | €31,572 | -€8,706 | -21.6% |
| Furniture and vehicles | 24 | €40,278 | €30,174 | -€10,104 | -25.1% |
| Other tangible fixed assets | 26 | - | €1,398 | +€1,398 | |
| Current assets | 29/58 | €216,060 | €284,568 | +€68,507 | +31.7% |
| Amounts receivable within one year | 40/41 | €22,543 | €34,540 | +€11,996 | +53.2% |
| Trade receivables | 40 | €20,479 | €33,884 | +€13,405 | +65.5% |
| Other amounts receivable | 41 | €2,064 | €655 | -€1,409 | -68.3% |
| Current investments | 50/53 | €159,380 | €246,214 | +€86,834 | +54.5% |
| Cash at bank and in hand | 54/58 | €32,401 | €1,922 | -€30,479 | -94.1% |
| Deferred charges and accrued income | 490/1 | €1,736 | €1,892 | +€156 | +9.0% |
| Total equity and liabilities | 10/49 | €256,338 | €316,139 | +€59,802 | +23.3% |
| Equity | 10/15 | €201,845 | €207,490 | +€5,644 | +2.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €185,403 | €190,903 | +€5,500 | +3.0% |
| Distributable reserves | 133 | €185,403 | €190,903 | +€5,500 | +3.0% |
| Profit (loss) carried forward | 14 | €1,442 | €1,587 | +€144 | +10.0% |
| Amounts payable | 17/49 | €54,492 | €108,649 | +€54,157 | +99.4% |
| Amounts payable within one year | 42/48 | €53,742 | €107,899 | +€54,157 | +101% |
| Trade debts | 44 | €1,521 | €11,573 | +€10,052 | +661% |
| Suppliers | 440/4 | €1,521 | €11,573 | +€10,052 | +661% |
| Taxes, remuneration and social security | 45 | €0 | €14,970 | +€14,970 | |
| Taxes | 450/3 | €0 | €14,970 | +€14,970 | |
| Other amounts payable | 47/48 | €52,221 | €81,356 | +€29,135 | +55.8% |
| Accrued charges and deferred income | 492/3 | €750 | €750 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,104 | €10,196 | +€92 | +0.9% |
| Other operating charges | 640/8 | €1,648 | €682 | -€966 | -58.6% |
| Gross operating margin | 9900 | €91,062 | €125,614 | +€34,552 | +37.9% |
| Operating profit (loss) | 9901 | €79,310 | €114,736 | +€35,426 | +44.7% |
| Financial income | 75/76B | €2,403 | €1,862 | -€541 | -22.5% |
| Recurring financial income | 75 | €2,403 | €1,862 | -€541 | -22.5% |
| Financial charges | 65/66B | €418 | €609 | +€191 | +45.7% |
| Recurring financial charges | 65 | €418 | €609 | +€191 | +45.7% |
| Profit (loss) for the period before taxes | 9903 | €81,295 | €115,989 | +€34,694 | +42.7% |
| Income taxes | 67/77 | €21,853 | €30,345 | +€8,492 | +38.9% |
| Profit (loss) for the period | 9904 | €59,442 | €85,644 | +€26,202 | +44.1% |
| Profit (loss) for the period to be appropriated | 9905 | €59,442 | €85,644 | +€26,202 | +44.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.