RED FOX ASSOCIATES: 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.
RED FOX ASSOCIATES
Largest movements
- Receivables within one year +€21,897
up €21,897 (+23.4%), from €93,539 to €115,436
of which Other amounts receivable: +€19,457
- Tangible fixed assets +€5,393
up €5,393 (+242%), from €2,224 to €7,617
- Cash +€4,606
up €4,606 (+144%), from €3,190 to €7,796
mainly Net result for the year (+€69,018) and Other debts (+€39,080)
- Other debts +€39,080
up €39,080 (+200%), from €19,586 to €58,666
- Debts after one year -€19,434
down €19,434 (-43.2%), from €44,991 to €25,557
- Short-term financial debts +€5,611
up €5,611 (+52.9%), from €10,600 to €16,211
of which Other loans: +€4,000
- Tax, wage and social debts +€5,569
up €5,569 (+39.9%), from €13,958 to €19,527
- Gross operating margin +€38,936
up €38,936 (+79.3%), from €49,075 to €88,011
- Depreciation -€11,274
down €11,274 (-87.0%), from €12,965 to €1,691
- Taxes +€5,839
up €5,839 (+61.3%), from €9,526 to €15,365
- Financial income +€1,174
up €1,174 (+46.0%), from €2,553 to €3,727
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 | €140,954 | €173,052 | +€32,098 | +22.8% |
| Fixed assets | 21/28 | €2,224 | €7,617 | +€5,393 | +242% |
| Tangible fixed assets | 22/27 | €2,224 | €7,617 | +€5,393 | +242% |
| Furniture and vehicles | 24 | €2,224 | €7,617 | +€5,393 | +242% |
| Current assets | 29/58 | €138,730 | €165,435 | +€26,705 | +19.2% |
| Stocks and contracts in progress | 3 | €42,000 | €42,000 | = | 0.0% |
| Stocks | 30/36 | €42,000 | €42,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €93,539 | €115,436 | +€21,897 | +23.4% |
| Trade receivables | 40 | €10,560 | €13,000 | +€2,440 | +23.1% |
| Other amounts receivable | 41 | €82,979 | €102,436 | +€19,457 | +23.4% |
| Cash at bank and in hand | 54/58 | €3,190 | €7,796 | +€4,606 | +144% |
| Deferred charges and accrued income | 490/1 | €1 | €203 | +€202 | +20,200% |
| Total equity and liabilities | 10/49 | €140,954 | €173,052 | +€32,098 | +22.8% |
| Equity | 10/15 | €30,460 | €30,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable | 17/49 | €110,494 | €142,592 | +€32,098 | +29.0% |
| Amounts payable after more than one year | 17 | €44,991 | €25,557 | -€19,434 | -43.2% |
| Financial debts | 170/4 | €44,991 | €25,557 | -€19,434 | -43.2% |
| Amounts payable within one year | 42/48 | €65,434 | €116,452 | +€51,018 | +78.0% |
| Current portion of amounts payable after more than one year | 42 | €18,342 | €19,434 | +€1,092 | +6.0% |
| Financial debts | 43 | €10,600 | €16,211 | +€5,611 | +52.9% |
| Credit institutions | 430/8 | €7,600 | €9,211 | +€1,611 | +21.2% |
| Other loans | 439 | €3,000 | €7,000 | +€4,000 | +133% |
| Trade debts | 44 | €2,948 | €2,614 | -€334 | -11.3% |
| Suppliers | 440/4 | €2,948 | €2,614 | -€334 | -11.3% |
| Taxes, remuneration and social security | 45 | €13,958 | €19,527 | +€5,569 | +39.9% |
| Taxes | 450/3 | €13,958 | €19,527 | +€5,569 | +39.9% |
| Other amounts payable | 47/48 | €19,586 | €58,666 | +€39,080 | +200% |
| Accrued charges and deferred income | 492/3 | €69 | €583 | +€514 | +745% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,965 | €1,691 | -€11,274 | -87.0% |
| Other operating charges | 640/8 | €1,183 | €806 | -€377 | -31.9% |
| Gross operating margin | 9900 | €49,075 | €88,011 | +€38,936 | +79.3% |
| Operating profit (loss) | 9901 | €34,927 | €85,514 | +€50,587 | +145% |
| Financial income | 75/76B | €2,553 | €3,727 | +€1,174 | +46.0% |
| Recurring financial income | 75 | €2,553 | €3,727 | +€1,174 | +46.0% |
| Financial charges | 65/66B | €4,911 | €4,858 | -€53 | -1.1% |
| Recurring financial charges | 65 | €4,911 | €4,858 | -€53 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €32,569 | €84,383 | +€51,814 | +159% |
| Income taxes | 67/77 | €9,526 | €15,365 | +€5,839 | +61.3% |
| Profit (loss) for the period | 9904 | €23,043 | €69,018 | +€45,975 | +200% |
| Profit (loss) for the period to be appropriated | 9905 | €23,043 | €69,018 | +€45,975 | +200% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.