ROELS PATRICK: 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 PATRICK
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Tangible fixed assets -€29,113
down €29,113 (-11.0%), from €265,569 to €236,456
of which Furniture and vehicles: -€15,891
- Cash -€20,529
down €20,529 (-22.8%), from €89,865 to €69,336
mainly Current investments (-€100,000) and Other debts (-€33,897)
- Receivables within one year -€18,831
down €18,831 (-97.6%), from €19,290 to €459
- Reserves +€74,709
up €74,709 (+25.1%), from €297,592 to €372,301
- Other debts -€33,897
down €33,897 (-98.4%), from €34,442 to €545
- Debts after one year -€19,062
no longer reported in 2025 (was €19,062)
- Current portion of long-term debt +€7,726
new in 2025: €7,726
- Depreciation +€1,448
up €1,448 (+4.3%), from €33,959 to €35,407
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 | €376,313 | €408,319 | +€32,006 | +8.5% |
| Fixed assets | 21/28 | €267,159 | €238,046 | -€29,113 | -10.9% |
| Tangible fixed assets | 22/27 | €265,569 | €236,456 | -€29,113 | -11.0% |
| Land and buildings | 22 | €201,883 | €190,021 | -€11,862 | -5.9% |
| Plant, machinery and equipment | 23 | €8,106 | €9,393 | +€1,286 | +15.9% |
| Furniture and vehicles | 24 | €43,442 | €27,550 | -€15,891 | -36.6% |
| Other tangible fixed assets | 26 | €12,138 | €9,492 | -€2,646 | -21.8% |
| Financial fixed assets | 28 | €1,590 | €1,590 | = | 0.0% |
| Current assets | 29/58 | €109,154 | €170,273 | +€61,119 | +56.0% |
| Amounts receivable within one year | 40/41 | €19,290 | €459 | -€18,831 | -97.6% |
| Other amounts receivable | 41 | €19,290 | €459 | -€18,831 | -97.6% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €89,865 | €69,336 | -€20,529 | -22.8% |
| Deferred charges and accrued income | 490/1 | - | €479 | +€479 | |
| Total equity and liabilities | 10/49 | €376,313 | €408,319 | +€32,006 | +8.5% |
| Equity | 10/15 | €319,189 | €393,898 | +€74,709 | +23.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €297,592 | €372,301 | +€74,709 | +25.1% |
| Distributable reserves | 133 | €297,592 | €372,301 | +€74,709 | +25.1% |
| Profit (loss) carried forward | 14 | €2,998 | €2,998 | = | 0.0% |
| Amounts payable | 17/49 | €57,124 | €14,421 | -€42,703 | -74.8% |
| Amounts payable after more than one year | 17 | €19,062 | - | -€19,062 | |
| Financial debts | 170/4 | €19,062 | - | -€19,062 | |
| Amounts payable within one year | 42/48 | €38,062 | €14,421 | -€23,642 | -62.1% |
| Current portion of amounts payable after more than one year | 42 | - | €7,726 | +€7,726 | |
| Trade debts | 44 | €474 | - | -€474 | |
| Suppliers | 440/4 | €474 | - | -€474 | |
| Taxes, remuneration and social security | 45 | €3,146 | €6,150 | +€3,003 | +95.5% |
| Taxes | 450/3 | €1,146 | €6,150 | +€5,003 | +436% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €34,442 | €545 | -€33,897 | -98.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,959 | €35,407 | +€1,448 | +4.3% |
| Other operating charges | 640/8 | €1,403 | €1,070 | -€333 | -23.7% |
| Gross operating margin | 9900 | €142,119 | €142,890 | +€771 | +0.5% |
| Operating profit (loss) | 9901 | €106,757 | €106,413 | -€344 | -0.3% |
| Financial income | 75/76B | €97 | €771 | +€674 | +695% |
| Recurring financial income | 75 | €97 | €771 | +€674 | +695% |
| Financial charges | 65/66B | €1,749 | €1,096 | -€652 | -37.3% |
| Recurring financial charges | 65 | €1,749 | €1,096 | -€652 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €105,106 | €106,088 | +€982 | +0.9% |
| Income taxes | 67/77 | €30,496 | €31,379 | +€882 | +2.9% |
| Profit (loss) for the period | 9904 | €74,610 | €74,709 | +€99 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €74,610 | €74,709 | +€99 | +0.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.