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
- Cash +€31,389
up €31,389 (+84.3%), from €37,214 to €68,603
mainly Net result for the year (+€33,823) and Tax, wage and social debts (+€12,388)
- Tangible fixed assets -€9,227
down €9,227 (-8.1%), from €113,227 to €104,000
of which Land and buildings: -€9,997
- Reserves +€33,823
up €33,823 (+41.5%), from €81,563 to €115,386
- Debts after one year -€20,957
down €20,957 (-20.2%), from €103,779 to €82,822
- Tax, wage and social debts +€12,388
up €12,388 (+86.7%), from €14,285 to €26,673
of which Taxes: +€10,364
- Gross operating margin +€6,311
up €6,311 (+10.3%), from €61,365 to €67,676
- Financial charges -€1,705
down €1,705 (-34.1%), from €5,000 to €3,295
- Taxes +€1,363
up €1,363 (+8.6%), from €15,827 to €17,189
- Other operating charges +€855
up €855 (+54.7%), from €1,564 to €2,420
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 | €240,892 | €264,264 | +€23,372 | +9.7% |
| Fixed assets | 21/28 | €113,227 | €104,000 | -€9,227 | -8.1% |
| Tangible fixed assets | 22/27 | €113,227 | €104,000 | -€9,227 | -8.1% |
| Land and buildings | 22 | €110,344 | €100,347 | -€9,997 | -9.1% |
| Plant, machinery and equipment | 23 | €1,442 | €2,661 | +€1,220 | +84.6% |
| Furniture and vehicles | 24 | €1,441 | €992 | -€450 | -31.2% |
| Current assets | 29/58 | €127,665 | €160,264 | +€32,599 | +25.5% |
| Amounts receivable within one year | 40/41 | €90,451 | €91,661 | +€1,210 | +1.3% |
| Trade receivables | 40 | €11,023 | €12,233 | +€1,210 | +11.0% |
| Other amounts receivable | 41 | €79,428 | €79,428 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €37,214 | €68,603 | +€31,389 | +84.3% |
| Total equity and liabilities | 10/49 | €240,892 | €264,264 | +€23,372 | +9.7% |
| Equity | 10/15 | €100,163 | €133,986 | +€33,823 | +33.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €81,563 | €115,386 | +€33,823 | +41.5% |
| Distributable reserves | 133 | €81,563 | €115,386 | +€33,823 | +41.5% |
| Amounts payable | 17/49 | €140,729 | €130,277 | -€10,452 | -7.4% |
| Amounts payable after more than one year | 17 | €103,779 | €82,822 | -€20,957 | -20.2% |
| Financial debts | 170/4 | €103,779 | €82,822 | -€20,957 | -20.2% |
| Amounts payable within one year | 42/48 | €36,950 | €47,455 | +€10,505 | +28.4% |
| Current portion of amounts payable after more than one year | 42 | €14,914 | €15,357 | +€443 | +3.0% |
| Trade debts | 44 | €7,066 | €4,596 | -€2,470 | -35.0% |
| Suppliers | 440/4 | €7,066 | €4,596 | -€2,470 | -35.0% |
| Taxes, remuneration and social security | 45 | €14,285 | €26,673 | +€12,388 | +86.7% |
| Taxes | 450/3 | €14,285 | €24,649 | +€10,364 | +72.5% |
| Remuneration and social security | 454/9 | - | €2,024 | +€2,024 | |
| Other amounts payable | 47/48 | €685 | €829 | +€144 | +21.0% |
| Remuneration, social security and pensions | 62 | €830 | €1,347 | +€517 | +62.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,815 | €11,111 | +€296 | +2.7% |
| Other operating charges | 640/8 | €1,564 | €2,420 | +€855 | +54.7% |
| Gross operating margin | 9900 | €61,365 | €67,676 | +€6,311 | +10.3% |
| Operating profit (loss) | 9901 | €48,156 | €52,799 | +€4,643 | +9.6% |
| Financial income | 75/76B | €1,508 | €1,508 | = | 0.0% |
| Recurring financial income | 75 | €1,508 | €1,508 | = | 0.0% |
| Financial charges | 65/66B | €5,000 | €3,295 | -€1,705 | -34.1% |
| Recurring financial charges | 65 | €5,000 | €3,295 | -€1,705 | -34.1% |
| Profit (loss) for the period before taxes | 9903 | €44,664 | €51,013 | +€6,348 | +14.2% |
| Income taxes | 67/77 | €15,827 | €17,189 | +€1,363 | +8.6% |
| Profit (loss) for the period | 9904 | €28,838 | €33,823 | +€4,985 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,838 | €33,823 | +€4,985 | +17.3% |
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 11 October 2026 via checked.be.