ROBERT FOX: 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.
ROBERT FOX
Largest movements
- Cash +€139,248
up €139,248 (+63.0%), from €221,053 to €360,301
mainly Net result for the year (+€84,762) and Receivables after one year (+€50,000)
- Receivables after one year -€50,000
down €50,000 (-13.7%), from €365,000 to €315,000
- Tangible fixed assets -€9,310
down €9,310 (-19.0%), from €49,069 to €39,759
of which Furniture and vehicles: -€7,314
- Reserves +€84,762
up €84,762 (+13.2%), from €643,570 to €728,332
of which Distributable reserves: +€84,762
- Tax, wage and social debts -€11,308
down €11,308 (-38.6%), from €29,259 to €17,952
- Gross operating margin -€106,585
down €106,585 (-45.4%), from €234,580 to €127,995
- Taxes -€31,916
down €31,916 (-47.6%), from €67,017 to €35,101
- Financial income +€5,306
up €5,306 (+130%), from €4,081 to €9,387
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 | €690,660 | €772,006 | +€81,346 | +11.8% |
| Fixed assets | 21/28 | €49,069 | €39,759 | -€9,310 | -19.0% |
| Tangible fixed assets | 22/27 | €49,069 | €39,759 | -€9,310 | -19.0% |
| Plant, machinery and equipment | 23 | €9,981 | €7,985 | -€1,996 | -20.0% |
| Furniture and vehicles | 24 | €29,624 | €22,309 | -€7,314 | -24.7% |
| Other tangible fixed assets | 26 | €9,465 | €9,465 | = | 0.0% |
| Current assets | 29/58 | €641,591 | €732,246 | +€90,656 | +14.1% |
| Amounts receivable after more than one year | 29 | €365,000 | €315,000 | -€50,000 | -13.7% |
| Other amounts receivable | 291 | €365,000 | €315,000 | -€50,000 | -13.7% |
| Amounts receivable within one year | 40/41 | €54,110 | €55,049 | +€939 | +1.7% |
| Trade receivables | 40 | €51,909 | €50,578 | -€1,331 | -2.6% |
| Other amounts receivable | 41 | €2,201 | €4,471 | +€2,270 | +103% |
| Cash at bank and in hand | 54/58 | €221,053 | €360,301 | +€139,248 | +63.0% |
| Deferred charges and accrued income | 490/1 | €1,428 | €1,897 | +€469 | +32.8% |
| Total equity and liabilities | 10/49 | €690,660 | €772,006 | +€81,346 | +11.8% |
| Equity | 10/15 | €659,570 | €746,932 | +€87,362 | +13.2% |
| Contributions | 10/11 | €16,000 | €18,600 | +€2,600 | +16.3% |
| Reserves | 13 | €643,570 | €728,332 | +€84,762 | +13.2% |
| Tax-exempt reserves | 132 | €151 | €151 | = | 0.0% |
| Distributable reserves | 133 | €643,419 | €728,181 | +€84,762 | +13.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €31,090 | €25,074 | -€6,017 | -19.4% |
| Amounts payable within one year | 42/48 | €31,052 | €23,424 | -€7,627 | -24.6% |
| Trade debts | 44 | €1,792 | €4,708 | +€2,915 | +163% |
| Suppliers | 440/4 | €1,792 | €4,708 | +€2,915 | +163% |
| Taxes, remuneration and social security | 45 | €29,259 | €17,952 | -€11,308 | -38.6% |
| Taxes | 450/3 | €29,259 | €17,952 | -€11,308 | -38.6% |
| Other amounts payable | 47/48 | - | €765 | +€765 | |
| Accrued charges and deferred income | 492/3 | €39 | €1,649 | +€1,611 | +4,170% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,904 | €11,872 | -€33 | -0.3% |
| Other operating charges | 640/8 | €1,418 | €1,114 | -€304 | -21.5% |
| Gross operating margin | 9900 | €234,580 | €127,995 | -€106,585 | -45.4% |
| Operating profit (loss) | 9901 | €221,258 | €115,009 | -€106,248 | -48.0% |
| Financial income | 75/76B | €4,081 | €9,387 | +€5,306 | +130% |
| Recurring financial income | 75 | €4,081 | €9,387 | +€5,306 | +130% |
| Financial charges | 65/66B | €4,191 | €4,533 | +€343 | +8.2% |
| Recurring financial charges | 65 | €4,191 | €4,533 | +€343 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | €221,148 | €119,863 | -€101,285 | -45.8% |
| Income taxes | 67/77 | €67,017 | €35,101 | -€31,916 | -47.6% |
| Profit (loss) for the period | 9904 | €154,131 | €84,762 | -€69,369 | -45.0% |
| Profit (loss) for the period to be appropriated | 9905 | €154,131 | €84,762 | -€69,369 | -45.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.