PALETTEN 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.
What changed
PALETTEN ROELS
NACE 47.522, Retail trade
financial year 2025 compared with 2023not consecutivefiled annual accounts (NBB)
Net result for the year
€520,084
2023 · -€953,405+€1.5m
Equity
€6.0m
2023 · €5.5m+€520,084
Cash
€41,990
2023 · €389,818-€347,828
Balance sheet total
€20.7m
2023 · €20.2m+€521,874
Largest movements
Assets
- Stocks and contracts +€765,840
up €765,840 (+32.5%), from €2.4m to €3.1m
- Cash -€347,828
down €347,828 (-89.2%), from €389,818 to €41,990
- Tangible fixed assets -€264,923
down €264,923 (-2.1%), from €12.6m to €12.4m
of which Land and buildings: -€312,526
Equity and liabilities
- Trade debts +€1.2m
up €1.2m (+66.3%), from €1.8m to €3.0m
- Debts after one year -€990,296
down €990,296 (-11.2%), from €8.9m to €7.9m
- Profit (loss) carried forward +€520,084
up €520,084 (+54.6%), from -€953,405 to -€433,321
- Short-term financial debts -€402,595
down €402,595 (-14.4%), from €2.8m to €2.4m
of which Credit institutions: -€2.2m
Income statement
- Turnover +€15.8m
up €15.8m (+72.6%), from €21.8m to €37.6m
- Goods and materials +€8.6m
up €8.6m (+45.2%), from €19.0m to €27.6m
of which Purchases: +€9.0m
- Services and other goods +€3.4m
up €3.4m (+195%), from €1.8m to €5.2m
- Depreciation +€852,837
up €852,837 (+73.0%), from €1.2m to €2.0m
- Financial charges +€415,163
up €415,163 (+113%), from €367,830 to €782,993
From the 2023 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.
Result 2023
-€953,405
Turnover
+€15.8m
Other operating income
+€52,339
Goods and materials
-€8.6m
Services and other goods
-€3.4m
Staff costs
-€330,363
Depreciation
-€852,837
Write-downs
+€12,514
Other operating charges
-€53,904
Other operating items
-€956,701
Financial income
-€28,184
Financial charges
-€415,163
Taxes
+€274,927
Result 2025
€520,084
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,190,981 | €20,712,855 | +€521,874 | +2.6% |
| Fixed assets | 21/28 | €12,638,574 | €12,383,231 | -€255,343 | -2.0% |
| Intangible fixed assets | 21 | - | €9,580 | +€9,580 | |
| Tangible fixed assets | 22/27 | €12,637,997 | €12,373,075 | -€264,923 | -2.1% |
| Land and buildings | 22 | €8,858,666 | €8,546,140 | -€312,526 | -3.5% |
| Plant, machinery and equipment | 23 | €1,342,650 | €1,314,410 | -€28,240 | -2.1% |
| Furniture and vehicles | 24 | €324,734 | €197,058 | -€127,676 | -39.3% |
| Leasing and similar rights | 25 | €1,997,802 | €1,896,024 | -€101,778 | -5.1% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Assets under construction and advance payments | 27 | €114,145 | €419,443 | +€305,298 | +267% |
| Financial fixed assets | 28 | €577 | €577 | = | 0.0% |
| Other financial fixed assets | 284/8 | €577 | €577 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €577 | €577 | = | 0.0% |
| Current assets | 29/58 | €7,552,407 | €8,329,624 | +€777,217 | +10.3% |
| Amounts receivable after more than one year | 29 | €323,991 | €324,055 | +€64 | 0.0% |
| Other amounts receivable | 291 | €323,991 | €324,055 | +€64 | 0.0% |
| Stocks and contracts in progress | 3 | €2,357,100 | €3,122,940 | +€765,840 | +32.5% |
| Stocks | 30/36 | €2,357,100 | €3,122,940 | +€765,840 | +32.5% |
| Raw materials and consumables | 30/31 | €1,022,413 | €1,322,096 | +€299,683 | +29.3% |
| Work in progress | 32 | €15,426 | €66,665 | +€51,239 | +332% |
| Finished goods | 33 | €602,463 | €655,986 | +€53,523 | +8.9% |
| Goods purchased for resale | 34 | €716,798 | €1,078,193 | +€361,395 | +50.4% |
| Amounts receivable within one year | 40/41 | €4,342,916 | €4,316,055 | -€26,862 | -0.6% |
| Trade receivables | 40 | €3,778,248 | €3,931,030 | +€152,783 | +4.0% |
| Other amounts receivable | 41 | €564,669 | €385,024 | -€179,645 | -31.8% |
| Current investments | 50/53 | €100,000 | €306,601 | +€206,601 | +207% |
| Other investments | 51/53 | €100,000 | €306,601 | +€206,601 | +207% |
| Cash at bank and in hand | 54/58 | €389,818 | €41,990 | -€347,828 | -89.2% |
| Deferred charges and accrued income | 490/1 | €38,581 | €217,983 | +€179,403 | +465% |
| Total equity and liabilities | 10/49 | €20,190,981 | €20,712,855 | +€521,874 | +2.6% |
| Equity | 10/15 | €5,507,425 | €6,027,509 | +€520,084 | +9.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €6,440,369 | €6,440,369 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €6,402,869 | €6,402,869 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€953,405 | -€433,321 | +€520,084 | +54.6% |
| Amounts payable | 17/49 | €14,683,556 | €14,685,347 | +€1,790 | 0.0% |
| Amounts payable after more than one year | 17 | €8,856,368 | €7,866,072 | -€990,296 | -11.2% |
| Financial debts | 170/4 | €8,856,368 | €7,866,072 | -€990,296 | -11.2% |
| Leasing and similar obligations | 172 | €1,577,528 | €1,399,457 | -€178,070 | -11.3% |
| Credit institutions | 173 | €7,278,840 | €6,466,614 | -€812,226 | -11.2% |
| Amounts payable within one year | 42/48 | €5,827,189 | €6,819,275 | +€992,086 | +17.0% |
| Current portion of amounts payable after more than one year | 42 | €971,488 | €1,041,431 | +€69,943 | +7.2% |
| Financial debts | 43 | €2,787,068 | €2,384,473 | -€402,595 | -14.4% |
| Credit institutions | 430/8 | €2,787,068 | €550,740 | -€2.2m | -80.2% |
| Other loans | 439 | - | €1,833,733 | +€1.8m | |
| Trade debts | 44 | €1,780,362 | €2,960,423 | +€1.2m | +66.3% |
| Suppliers | 440/4 | €1,780,362 | €2,960,423 | +€1.2m | +66.3% |
| Taxes, remuneration and social security | 45 | €142,161 | €287,815 | +€145,654 | +102% |
| Taxes | 450/3 | €104,212 | €201,715 | +€97,504 | +93.6% |
| Remuneration and social security | 454/9 | €37,949 | €86,100 | +€48,151 | +127% |
| Other amounts payable | 47/48 | €146,110 | €145,133 | -€977 | -0.7% |
| Operating income | 70/76A | €21,977,674 | €37,836,070 | +€15.9m | +72.2% |
| Turnover | 70 | €21,756,856 | €37,553,192 | +€15.8m | +72.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | €104,762 | +€104,762 | |
| Other operating income | 74 | €80,877 | €133,216 | +€52,339 | +64.7% |
| Non-recurring operating income | 76A | €139,940 | €44,900 | -€95,040 | -67.9% |
| Operating charges | 60/66A | €22,327,394 | €36,543,881 | +€14.2m | +63.7% |
| Goods for resale, raw materials and consumables | 60 | €19,014,763 | €27,615,298 | +€8.6m | +45.2% |
| Purchases | 600/8 | €19,241,863 | €28,276,377 | +€9.0m | +47.0% |
| Change in stocks: decrease (increase) | 609 | -€227,100 | -€661,078 | -€433,978 | -191% |
| Services and other goods | 61 | €1,752,568 | €5,177,508 | +€3.4m | +195% |
| Remuneration, social security and pensions | 62 | €322,671 | €653,034 | +€330,363 | +102% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,167,882 | €2,020,720 | +€852,837 | +73.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,751 | €2,237 | -€12,514 | -84.8% |
| Other operating charges | 640/8 | €47,168 | €101,072 | +€53,904 | +114% |
| Non-recurring operating charges | 66A | €7,590 | €974,013 | +€966,423 | +12,733% |
| Operating profit (loss) | 9901 | -€349,720 | €1,292,189 | +€1.6m | |
| Financial income | 75/76B | €43,703 | €15,519 | -€28,184 | -64.5% |
| Recurring financial income | 75 | €43,703 | €15,519 | -€28,184 | -64.5% |
| Income from current assets | 751 | - | €9,141 | +€9,141 | |
| Other financial income | 752/9 | €43,703 | €6,379 | -€37,325 | -85.4% |
| Financial charges | 65/66B | €367,830 | €782,993 | +€415,163 | +113% |
| Recurring financial charges | 65 | €367,830 | €782,993 | +€415,163 | +113% |
| Debt charges | 650 | €354,185 | €770,772 | +€416,587 | +118% |
| Other financial charges | 652/9 | €13,645 | €12,221 | -€1,424 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | -€673,847 | €524,715 | +€1.2m | |
| Income taxes | 67/77 | €279,558 | €4,631 | -€274,927 | -98.3% |
| Taxes | 670/3 | €284,398 | €4,670 | -€279,728 | -98.4% |
| Tax adjustments and reversals of tax provisions | 77 | €4,840 | €39 | -€4,801 | -99.2% |
| Profit (loss) for the period | 9904 | -€953,405 | €520,084 | +€1.5m | |
| Profit (loss) for the period to be appropriated | 9905 | -€953,405 | €520,084 | +€1.5m |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.