Roland Feldman: 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.
What changed
Roland Feldman
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€160,614
2024 · €159,463+€1,151
Equity
€848,500
2024 · €7,908+€840,592
Cash
€134,772
2024 · €135,777-€1,004
Balance sheet total
€1.0m
2024 · €206,244+€843,292
Largest movements
Assets
- Financial fixed assets +€847,500
new in 2025: €847,500
- Tangible fixed assets -€14,442
down €14,442 (-28.6%), from €50,468 to €36,026
of which Furniture and vehicles: -€15,167
Equity and liabilities
- Contributions +€847,500
up €847,500 (+84,750%), from €1,000 to €848,500
- Debts after one year -€13,144
down €13,144 (-58.6%), from €22,449 to €9,305
- Other debts +€13,141
up €13,141 (+8.5%), from €155,032 to €168,173
Income statement
- Gross operating margin +€8,515
up €8,515 (+3.7%), from €228,321 to €236,836
- Taxes +€7,555
up €7,555 (+15.3%), from €49,419 to €56,974
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.
Result 2024
€159,463
Gross operating margin
+€8,515
Depreciation
-€2,034
Other operating charges
+€879
Financial income
+€1,390
Financial charges
-€44
Taxes
-€7,555
Result 2025
€160,614
raises the resultlowers the result
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.
From operations
+€186,947
Investment
-€852,847
Financing
+€664,897
Cash 2024
€135,777
From operations (derived)
+€186,947
Net result for the year
+€160,614
Depreciation
+€19,789
Receivables within one year
-€10,000
Smaller working-capital items
-€2,451
Tax, wage and social debts
+€5,854
Other debts
+€13,141
Investment (derived)
-€852,847
Investment in fixed assets (net)
-€852,847
Financing
+€664,897
Debts after one year
-€13,144
Current portion of long-term debt
-€1,937
Contributions, distributions and other
+€679,978
Cash 2025
€134,772
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €206,244 | €1,049,536 | +€843,292 | +409% |
| Fixed assets | 21/28 | €50,468 | €883,526 | +€833,058 | +1,651% |
| Tangible fixed assets | 22/27 | €50,468 | €36,026 | -€14,442 | -28.6% |
| Plant, machinery and equipment | 23 | - | €725 | +€725 | |
| Furniture and vehicles | 24 | €50,468 | €35,301 | -€15,167 | -30.1% |
| Financial fixed assets | 28 | - | €847,500 | +€847,500 | |
| Current assets | 29/58 | €155,777 | €166,010 | +€10,234 | +6.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €20,000 | €30,000 | +€10,000 | +50.0% |
| Trade receivables | 40 | €20,000 | €30,000 | +€10,000 | +50.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €135,777 | €134,772 | -€1,004 | -0.7% |
| Deferred charges and accrued income | 490/1 | - | €1,238 | +€1,238 | |
| Total equity and liabilities | 10/49 | €206,244 | €1,049,536 | +€843,292 | +409% |
| Equity | 10/15 | €7,908 | €848,500 | +€840,592 | +10,630% |
| Contributions | 10/11 | €1,000 | €848,500 | +€847,500 | +84,750% |
| Reserves | 13 | €6,908 | €0 | -€6,908 | -100% |
| Distributable reserves | 133 | €6,908 | €0 | -€6,908 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €198,336 | €201,036 | +€2,700 | +1.4% |
| Amounts payable after more than one year | 17 | €22,449 | €9,305 | -€13,144 | -58.6% |
| Financial debts | 170/4 | €22,449 | €9,305 | -€13,144 | -58.6% |
| Amounts payable within one year | 42/48 | €175,887 | €191,731 | +€15,844 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €15,082 | €13,144 | -€1,937 | -12.8% |
| Trade debts | 44 | €3,155 | €1,942 | -€1,213 | -38.5% |
| Suppliers | 440/4 | €3,155 | €1,942 | -€1,213 | -38.5% |
| Taxes, remuneration and social security | 45 | €2,619 | €8,473 | +€5,854 | +223% |
| Taxes | 450/3 | €2,619 | €8,473 | +€5,854 | +223% |
| Other amounts payable | 47/48 | €155,032 | €168,173 | +€13,141 | +8.5% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,755 | €19,789 | +€2,034 | +11.5% |
| Other operating charges | 640/8 | €1,448 | €570 | -€879 | -60.7% |
| Gross operating margin | 9900 | €228,321 | €236,836 | +€8,515 | +3.7% |
| Operating profit (loss) | 9901 | €209,118 | €216,477 | +€7,360 | +3.5% |
| Financial income | 75/76B | €280 | €1,670 | +€1,390 | +496% |
| Recurring financial income | 75 | €280 | €1,670 | +€1,390 | +496% |
| Financial charges | 65/66B | €516 | €559 | +€44 | +8.5% |
| Recurring financial charges | 65 | €516 | €559 | +€44 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €208,882 | €217,588 | +€8,706 | +4.2% |
| Income taxes | 67/77 | €49,419 | €56,974 | +€7,555 | +15.3% |
| Profit (loss) for the period | 9904 | €159,463 | €160,614 | +€1,151 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €159,463 | €160,614 | +€1,151 | +0.7% |
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 25 October 2026 via checked.be.