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.
ROELS
Largest movements
- Receivables within one year +€57,929
up €57,929 (+202.8%), from €28,561 to €86,490
of which Trade receivables: +€39,653
- Cash -€49,975
down €49,975 (-52.0%), from €96,128 to €46,154
mainly Receivables within one year (-€57,929) and Debts after one year (-€24,532)
- Intangible fixed assets -€15,000
down €15,000 (-50.0%), from €30,000 to €15,000
- Deferred charges and accrued income -€8,852
down €8,852 (-75.4%), from €11,736 to €2,884
- Tangible fixed assets -€7,512
down €7,512 (-10.9%), from €68,989 to €61,477
of which Land and buildings: -€5,872
- Debts after one year -€24,532
down €24,532 (-46.2%), from €53,093 to €28,560
- Other debts -€7,391
down €7,391 (-16.7%), from €44,379 to €36,989
- Reserves +€6,500
up €6,500 (+13.0%), from €50,000 to €56,500
- Current portion of long-term debt +€4,337
up €4,337 (+30.5%), from €14,205 to €18,541
- Trade debts -€4,238
down €4,238 (-37.7%), from €11,244 to €7,006
- Gross operating margin -€56,811
down €56,811 (-43.8%), from €129,825 to €73,014
- Taxes -€28,561
down €28,561 (-84.4%), from €33,856 to €5,295
- Staff costs +€26,884
up €26,884 (+877.6%), from €3,063 to €29,947
- Depreciation -€6,406
down €6,406 (-22.2%), from €28,919 to €22,512
- Financial charges -€2,025
down €2,025 (-45.2%), from €4,484 to €2,459
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €239,634 | €216,224 | -€23,410 | -9.8% |
| Fixed assets | 21/28 | €103,208 | €80,696 | -€22,512 | -21.8% |
| Intangible fixed assets | 21 | €30,000 | €15,000 | -€15,000 | -50.0% |
| Tangible fixed assets | 22/27 | €68,989 | €61,477 | -€7,512 | -10.9% |
| Land and buildings | 22 | €58,722 | €52,850 | -€5,872 | -10.0% |
| Plant, machinery and equipment | 23 | €7,366 | €5,898 | -€1,468 | -19.9% |
| Furniture and vehicles | 24 | €2,902 | €2,729 | -€173 | -5.9% |
| Financial fixed assets | 28 | €4,219 | €4,219 | = | 0.0% |
| Current assets | 29/58 | €136,426 | €135,528 | -€898 | -0.7% |
| Amounts receivable within one year | 40/41 | €28,561 | €86,490 | +€57,929 | +202.8% |
| Trade receivables | 40 | €28,561 | €68,214 | +€39,653 | +138.8% |
| Other amounts receivable | 41 | - | €18,276 | +€18,276 | |
| Cash at bank and in hand | 54/58 | €96,128 | €46,154 | -€49,975 | -52.0% |
| Deferred charges and accrued income | 490/1 | €11,736 | €2,884 | -€8,852 | -75.4% |
| Total equity and liabilities | 10/49 | €239,634 | €216,224 | -€23,410 | -9.8% |
| Equity | 10/15 | €74,544 | €81,252 | +€6,708 | +9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €50,000 | €56,500 | +€6,500 | +13.0% |
| Distributable reserves | 133 | €50,000 | €56,500 | +€6,500 | +13.0% |
| Profit (loss) carried forward | 14 | €5,944 | €6,152 | +€208 | +3.5% |
| Amounts payable | 17/49 | €165,090 | €134,972 | -€30,118 | -18.2% |
| Amounts payable after more than one year | 17 | €53,093 | €28,560 | -€24,532 | -46.2% |
| Financial debts | 170/4 | €53,093 | €28,560 | -€24,532 | -46.2% |
| Amounts payable within one year | 42/48 | €111,997 | €106,412 | -€5,585 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €14,205 | €18,541 | +€4,337 | +30.5% |
| Trade debts | 44 | €11,244 | €7,006 | -€4,238 | -37.7% |
| Suppliers | 440/4 | €11,244 | €7,006 | -€4,238 | -37.7% |
| Taxes, remuneration and social security | 45 | €42,170 | €43,876 | +€1,707 | +4.0% |
| Taxes | 450/3 | €41,981 | €37,854 | -€4,126 | -9.8% |
| Remuneration and social security | 454/9 | €189 | €6,022 | +€5,833 | +3086.6% |
| Other amounts payable | 47/48 | €44,379 | €36,989 | -€7,391 | -16.7% |
| Non-recurring operating income | 76A | - | €2,250 | +€2,250 | |
| Remuneration, social security and pensions | 62 | €3,063 | €29,947 | +€26,884 | +877.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,919 | €22,512 | -€6,406 | -22.2% |
| Other operating charges | 640/8 | €5,496 | €6,313 | +€817 | +14.9% |
| Gross operating margin | 9900 | €129,825 | €73,014 | -€56,811 | -43.8% |
| Operating profit (loss) | 9901 | €92,347 | €14,241 | -€78,105 | -84.6% |
| Financial income | 75/76B | - | €220 | +€220 | |
| Recurring financial income | 75 | - | €220 | +€220 | |
| Financial charges | 65/66B | €4,484 | €2,459 | -€2,025 | -45.2% |
| Recurring financial charges | 65 | €4,484 | €2,459 | -€2,025 | -45.2% |
| Profit (loss) for the period before taxes | 9903 | €87,863 | €12,003 | -€75,860 | -86.3% |
| Income taxes | 67/77 | €33,856 | €5,295 | -€28,561 | -84.4% |
| Profit (loss) for the period | 9904 | €54,007 | €6,708 | -€47,299 | -87.6% |
| Profit (loss) for the period to be appropriated | 9905 | €54,007 | €6,708 | -€47,299 | -87.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.