ROELEC: 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.
ROELEC
Largest movements
- Cash +€101,397
up €101,397 (+544.5%), from €18,621 to €120,017
mainly Current investments (+€95,772) and Other debts (+€5,572)
- Current investments -€95,772
down €95,772 (-31.3%), from €305,722 to €209,950
- Other debts +€5,572
up €5,572 (+8.1%), from €68,898 to €74,470
- Gross operating margin +€61,902
up €61,902, from -€52,802 to €9,100
- Write-downs +€25,405
up €25,405, from -€24,764 to €641
- Financial charges +€3,954
up €3,954 (+42.8%), from €9,244 to €13,198
of which Non-recurring financial charges: +€3,946
- Financial income -€2,467
down €2,467 (-38.5%), from €6,401 to €3,934
of which Financial income: -€2,467
- Taxes +€1,401
up €1,401 (+27.4%), from -€5,114 to -€3,712
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 | €406,218 | €409,208 | +€2,990 | +0.7% |
| Fixed assets | 21/28 | €2,527 | €2,830 | +€303 | +12.0% |
| Tangible fixed assets | 22/27 | €2,527 | €2,830 | +€303 | +12.0% |
| Plant, machinery and equipment | 23 | €413 | €1,886 | +€1,473 | +356.4% |
| Furniture and vehicles | 24 | €2,114 | €944 | -€1,170 | -55.3% |
| Current assets | 29/58 | €403,691 | €406,378 | +€2,687 | +0.7% |
| Stocks and contracts in progress | 3 | €66,297 | €65,655 | -€641 | -1.0% |
| Stocks | 30/36 | €48,297 | €49,655 | +€1,359 | +2.8% |
| Contracts in progress | 37 | €18,000 | €16,000 | -€2,000 | -11.1% |
| Amounts receivable within one year | 40/41 | €13,052 | €10,755 | -€2,296 | -17.6% |
| Trade receivables | 40 | €10,291 | €6,944 | -€3,348 | -32.5% |
| Other amounts receivable | 41 | €2,760 | €3,812 | +€1,051 | +38.1% |
| Current investments | 50/53 | €305,722 | €209,950 | -€95,772 | -31.3% |
| Cash at bank and in hand | 54/58 | €18,621 | €120,017 | +€101,397 | +544.5% |
| Deferred charges and accrued income | 490/1 | €0 | €0 | = | |
| Total equity and liabilities | 10/49 | €406,218 | €409,208 | +€2,990 | +0.7% |
| Equity | 10/15 | €331,023 | €332,134 | +€1,111 | +0.3% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €316,984 | €316,984 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,283 | €3,283 | = | 0.0% |
| Legal reserve | 130 | €3,283 | €3,283 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,042 | €8,042 | = | 0.0% |
| Distributable reserves | 133 | €305,659 | €305,659 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,961 | -€59,850 | +€1,111 | +1.8% |
| Amounts payable | 17/49 | €75,195 | €77,073 | +€1,878 | +2.5% |
| Amounts payable within one year | 42/48 | €71,395 | €77,073 | +€5,678 | +8.0% |
| Trade debts | 44 | €2,497 | €2,604 | +€106 | +4.3% |
| Suppliers | 440/4 | €2,497 | €2,604 | +€106 | +4.3% |
| Other amounts payable | 47/48 | €68,898 | €74,470 | +€5,572 | +8.1% |
| Accrued charges and deferred income | 492/3 | €3,800 | €0 | -€3,800 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,552 | €1,796 | +€244 | +15.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€24,764 | €641 | +€25,405 | |
| Gross operating margin | 9900 | -€52,802 | €9,100 | +€61,902 | |
| Operating profit (loss) | 9901 | -€29,590 | €6,663 | +€36,253 | |
| Financial income | 75/76B | €6,401 | €3,934 | -€2,467 | -38.5% |
| Recurring financial income | 75 | €6,401 | €3,934 | -€2,467 | -38.5% |
| Non-recurring financial income | 76B | €0 | €0 | = | |
| Financial charges | 65/66B | €9,244 | €13,198 | +€3,954 | +42.8% |
| Recurring financial charges | 65 | €67 | €75 | +€7 | +11.1% |
| Non-recurring financial charges | 66B | €9,177 | €13,123 | +€3,946 | +43.0% |
| Profit (loss) for the period before taxes | 9903 | -€32,433 | -€2,601 | +€29,832 | +92.0% |
| Income taxes | 67/77 | -€5,114 | -€3,712 | +€1,401 | +27.4% |
| Profit (loss) for the period | 9904 | -€27,319 | €1,111 | +€28,430 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,319 | €1,111 | +€28,430 |
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 5 October 2026 via checked.be.