ROBERFROID: 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
ROBERFROID
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€42,417
2024 · -€8,519-€33,898
Equity
€4.7m
2024 · €6.0m-€1.3m
Cash
€82,922
2024 · €57,340+€25,582
Balance sheet total
€5.8m
2024 · €7.2m-€1.5m
Largest movements
Assets
- Current investments -€1.2m
down €1.2m (-100.0%), from €1.2m to €0
- Tangible fixed assets -€192,675
down €192,675 (-4.8%), from €4.0m to €3.8m
of which Land and buildings: -€165,609
Equity and liabilities
- Reserves -€1.3m
down €1.3m (-28.4%), from €4.5m to €3.3m
of which Non-distributable reserves: -€1.2m
- Debts after one year -€83,334
down €83,334 (-18.2%), from €458,334 to €375,000
- Tax, wage and social debts -€79,340
down €79,340 (-91.1%), from €87,103 to €7,764
Income statement
- Gross operating margin -€42,734
down €42,734 (-18.7%), from €228,163 to €185,429
- Taxes -€15,637
down €15,637 (-42.7%), from €36,597 to €20,960
- Other operating charges +€5,067
up €5,067 (+11.6%), from €43,791 to €48,858
- Depreciation +€4,015
up €4,015 (+2.1%), from €188,660 to €192,675
- Financial charges -€3,575
down €3,575 (-29.7%), from €12,026 to €8,451
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.
Result 2024
-€8,519
Gross operating margin
-€42,734
Depreciation
-€4,015
Other operating charges
-€5,067
Other operating items
-€1
Financial income
-€1,293
Financial charges
+€3,575
Taxes
+€15,637
Result 2025
-€42,417
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.
From operations
+€108,914
Investment
+€1.2m
Financing
-€1.3m
Cash 2024
€57,340
From operations (derived)
+€108,914
Net result for the year
-€42,417
Depreciation
+€192,675
Receivables within one year
+€48,555
Deferred charges and accrued income
+€17,255
Provisions
-€26,808
Trade debts
-€4,801
Tax, wage and social debts
-€79,340
Other debts
+€3,152
Accrued charges and deferred income
+€643
Investment (derived)
+€1.2m
Investment in fixed assets (net)
+€0
Current investments
+€1.2m
Financing
-€1.3m
Debts after one year
-€83,334
Current portion of long-term debt
+€0
Contributions, distributions and other
-€1.2m
Not broken down
+€2
Cash 2025
€82,922
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,243,832 | €5,762,897 | -€1.5m | -20.4% |
| Fixed assets | 21/28 | €4,033,180 | €3,840,505 | -€192,675 | -4.8% |
| Tangible fixed assets | 22/27 | €4,033,180 | €3,840,505 | -€192,675 | -4.8% |
| Land and buildings | 22 | €3,838,402 | €3,672,793 | -€165,609 | -4.3% |
| Plant, machinery and equipment | 23 | €95,000 | €95,000 | = | 0.0% |
| Furniture and vehicles | 24 | €99,778 | €72,712 | -€27,066 | -27.1% |
| Current assets | 29/58 | €3,210,652 | €1,922,392 | -€1.3m | -40.1% |
| Amounts receivable within one year | 40/41 | €1,885,144 | €1,836,589 | -€48,555 | -2.6% |
| Trade receivables | 40 | €6,403 | €799 | -€5,604 | -87.5% |
| Other amounts receivable | 41 | €1,878,741 | €1,835,790 | -€42,951 | -2.3% |
| Current investments | 50/53 | €1,248,031 | €0 | -€1.2m | -100.0% |
| Cash at bank and in hand | 54/58 | €57,340 | €82,922 | +€25,582 | +44.6% |
| Deferred charges and accrued income | 490/1 | €20,136 | €2,881 | -€17,255 | -85.7% |
| Total equity and liabilities | 10/49 | €7,243,832 | €5,762,897 | -€1.5m | -20.4% |
| Equity | 10/15 | €5,994,898 | €4,704,449 | -€1.3m | -21.5% |
| Contributions | 10/11 | €1,445,000 | €1,445,000 | = | 0.0% |
| Reserves | 13 | €4,549,898 | €3,259,449 | -€1.3m | -28.4% |
| Non-distributable reserves | 130/1 | €1,248,031 | €0 | -€1.2m | -100.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Own shares acquired | 1312 | €1,248,031 | €0 | -€1.2m | -100.0% |
| Tax-exempt reserves | 132 | €498,504 | €418,081 | -€80,423 | -16.1% |
| Distributable reserves | 133 | €2,803,362 | €2,841,368 | +€38,006 | +1.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €143,858 | €117,050 | -€26,808 | -18.6% |
| Deferred taxes | 168 | €143,858 | €117,050 | -€26,808 | -18.6% |
| Amounts payable | 17/49 | €1,105,076 | €941,397 | -€163,679 | -14.8% |
| Amounts payable after more than one year | 17 | €458,334 | €375,000 | -€83,334 | -18.2% |
| Financial debts | 170/4 | €458,334 | €375,000 | -€83,334 | -18.2% |
| Amounts payable within one year | 42/48 | €641,359 | €560,370 | -€80,989 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €83,333 | €83,333 | +€0 | 0.0% |
| Trade debts | 44 | €12,530 | €7,729 | -€4,801 | -38.3% |
| Suppliers | 440/4 | €12,530 | €7,729 | -€4,801 | -38.3% |
| Taxes, remuneration and social security | 45 | €87,103 | €7,764 | -€79,340 | -91.1% |
| Taxes | 450/3 | €87,103 | €7,764 | -€79,340 | -91.1% |
| Other amounts payable | 47/48 | €458,393 | €461,545 | +€3,152 | +0.7% |
| Accrued charges and deferred income | 492/3 | €5,384 | €6,027 | +€643 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €188,660 | €192,675 | +€4,015 | +2.1% |
| Other operating charges | 640/8 | €43,791 | €48,858 | +€5,067 | +11.6% |
| Gross operating margin | 9900 | €228,163 | €185,429 | -€42,734 | -18.7% |
| Operating profit (loss) | 9901 | -€4,287 | -€56,104 | -€51,817 | -1208.7% |
| Financial income | 75/76B | €17,583 | €16,290 | -€1,293 | -7.4% |
| Recurring financial income | 75 | €17,583 | €16,290 | -€1,293 | -7.4% |
| Financial charges | 65/66B | €12,026 | €8,451 | -€3,575 | -29.7% |
| Recurring financial charges | 65 | €12,026 | €8,451 | -€3,575 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | €1,270 | -€48,265 | -€49,535 | |
| Transfer from deferred taxes | 780 | €26,808 | €26,808 | -€0 | 0.0% |
| Income taxes | 67/77 | €36,597 | €20,960 | -€15,637 | -42.7% |
| Profit (loss) for the period | 9904 | -€8,519 | -€42,417 | -€33,898 | -397.9% |
| Transfer from tax-exempt reserves | 789 | €80,423 | €80,423 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €71,904 | €38,006 | -€33,898 | -47.1% |
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 9 October 2026 via checked.be.