Ignace Roels: what changed
Two fiscal 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.
Ignace Roels
Largest movements
- Cash +€2,777
up €2,777 (+66.8%), from €4,158 to €6,935
mainly Net result for the year (+€3,025) and Tax, wage and social debts (+€1,185)
- Receivables within one year +€2,739
up €2,739 (+25.9%), from €10,566 to €13,305
of which Other amounts receivable: +€2,768
- Tangible fixed assets +€586
up €586 (+57.0%), from €1,029 to €1,616
- Profit (loss) carried forward +€3,025
up €3,025 (+38.8%), from €7,804 to €10,829
- Tax, wage and social debts +€1,185
up €1,185 (+16.1%), from €7,380 to €8,564
- Accrued charges and deferred income +€951
new in 2025: €951
- Trade debts +€935
up €935 (+397.9%), from €235 to €1,171
- Gross operating margin -€8,454
down €8,454 (-59.9%), from €14,109 to €5,655
- Taxes -€2,752
down €2,752 (-78.5%), from €3,507 to €755
- Financial charges -€329
down €329 (-20.2%), from €1,626 to €1,297
- Depreciation +€227
up €227 (+140.8%), from €161 to €389
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.
Cash bridge derived
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 | €17,419 | €23,515 | +€6,096 | +35.0% |
| Fixed assets | 21/28 | €1,029 | €1,616 | +€586 | +57.0% |
| Tangible fixed assets | 22/27 | €1,029 | €1,616 | +€586 | +57.0% |
| Plant, machinery and equipment | 23 | €1,029 | €1,616 | +€586 | +57.0% |
| Current assets | 29/58 | €16,390 | €21,899 | +€5,509 | +33.6% |
| Amounts receivable within one year | 40/41 | €10,566 | €13,305 | +€2,739 | +25.9% |
| Trade receivables | 40 | €9,075 | €9,046 | -€29 | -0.3% |
| Other amounts receivable | 41 | €1,491 | €4,259 | +€2,768 | +185.6% |
| Cash at bank and in hand | 54/58 | €4,158 | €6,935 | +€2,777 | +66.8% |
| Deferred charges and accrued income | 490/1 | €1,666 | €1,660 | -€7 | -0.4% |
| Total equity and liabilities | 10/49 | €17,419 | €23,515 | +€6,096 | +35.0% |
| Equity | 10/15 | €9,804 | €12,829 | +€3,025 | +30.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,804 | €10,829 | +€3,025 | +38.8% |
| Amounts payable | 17/49 | €7,615 | €10,686 | +€3,071 | +40.3% |
| Amounts payable within one year | 42/48 | €7,615 | €9,735 | +€2,120 | +27.8% |
| Trade debts | 44 | €235 | €1,171 | +€935 | +397.9% |
| Suppliers | 440/4 | €235 | €1,171 | +€935 | +397.9% |
| Taxes, remuneration and social security | 45 | €7,380 | €8,564 | +€1,185 | +16.1% |
| Taxes | 450/3 | €7,380 | €8,564 | +€1,185 | +16.1% |
| Accrued charges and deferred income | 492/3 | - | €951 | +€951 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161 | €389 | +€227 | +140.8% |
| Other operating charges | 640/8 | €403 | €305 | -€99 | -24.5% |
| Gross operating margin | 9900 | €14,109 | €5,655 | -€8,454 | -59.9% |
| Operating profit (loss) | 9901 | €13,545 | €4,962 | -€8,582 | -63.4% |
| Financial income | 75/76B | €37 | €114 | +€77 | +211.5% |
| Recurring financial income | 75 | €37 | €114 | +€77 | +211.5% |
| Financial charges | 65/66B | €1,626 | €1,297 | -€329 | -20.2% |
| Recurring financial charges | 65 | €1,626 | €1,297 | -€329 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €11,956 | €3,780 | -€8,176 | -68.4% |
| Income taxes | 67/77 | €3,507 | €755 | -€2,752 | -78.5% |
| Profit (loss) for the period | 9904 | €8,448 | €3,025 | -€5,424 | -64.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,448 | €3,025 | -€5,424 | -64.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.