ROXELL: 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.
What changed
ROXELL
NACE 28.300, Manufacture of machinery and equipment not elsewhere classified
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5.2m
2024 · €7.4m-€2.2m
Equity
€67.5m
2024 · €62.2m+€5.2m
Cash
€12.5m
2024 · €12.9m-€432,629
Balance sheet total
€75.0m
2024 · €67.8m+€7.2m
Largest movements
Assets
- Current investments +€7.4m
up €7.4m (+27.8%), from €26.8m to €34.2m
- Receivables within one year +€946,513
up €946,513 (+13.6%), from €7.0m to €7.9m
of which Other amounts receivable: +€788,120
Equity and liabilities
- Profit (loss) carried forward +€5.2m
up €5.2m (+8.6%), from €60.6m to €65.8m
- Trade debts +€829,303
up €829,303 (+44.4%), from €1.9m to €2.7m
- Advances received +€801,830
up €801,830 (+75.1%), from €1.1m to €1.9m
Income statement
- Turnover +€8.9m
up €8.9m (+17.7%), from €50.5m to €59.4m
- Goods and materials +€4.6m
up €4.6m (+18.3%), from €25.4m to €30.1m
of which Purchases: +€4.8m
- Financial charges +€4.1m
up €4.1m (+2099.4%), from €194,049 to €4.3m
- Financial income -€1.8m
down €1.8m (-55.3%), from €3.2m to €1.4m
- Staff costs +€711,111
up €711,111 (+5.9%), from €12.0m to €12.7m
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
€7.4m
Turnover
+€8.9m
Other operating income
+€220,018
Goods and materials
-€4.6m
Services and other goods
-€410,852
Staff costs
-€711,111
Depreciation
+€11,618
Write-downs
-€64,609
Provisions
-€250,990
Other operating charges
-€22,113
Other operating items
+€7,179
Financial income
-€1.8m
Financial charges
-€4.1m
Taxes
+€633,771
Result 2025
€5.2m
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.
From operations
+€8.5m
Investment
-€8.9m
Financing
€0
Cash 2024
€12.9m
From operations (derived)
+€8.5m
Net result for the year
+€5.2m
Depreciation
+€2.5m
Stocks and contracts
-€417,558
Receivables within one year
-€946,513
Deferred charges and accrued income
+€174,132
Provisions
+€123,711
Trade debts
+€829,303
Tax, wage and social debts
+€193,430
Advances received
+€801,830
Accrued charges and deferred income
+€13,575
Investment (derived)
-€8.9m
Investment in fixed assets (net)
-€1.5m
Current investments
-€7.4m
Cash 2025
€12.5m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €67,841,810 | €75,041,256 | +€7.2m | +10.6% |
| Fixed assets | 21/28 | €13,129,970 | €12,145,650 | -€984,320 | -7.5% |
| Intangible fixed assets | 21 | €1,696,995 | €1,346,633 | -€350,362 | -20.6% |
| Tangible fixed assets | 22/27 | €10,882,955 | €10,248,997 | -€633,958 | -5.8% |
| Land and buildings | 22 | €5,873,583 | €5,626,994 | -€246,589 | -4.2% |
| Plant, machinery and equipment | 23 | €3,665,043 | €3,405,463 | -€259,580 | -7.1% |
| Furniture and vehicles | 24 | €1,059,579 | €954,471 | -€105,108 | -9.9% |
| Assets under construction and advance payments | 27 | €284,750 | €262,069 | -€22,681 | -8.0% |
| Financial fixed assets | 28 | €550,020 | €550,020 | = | 0.0% |
| Affiliated companies | 280/1 | €550,020 | €550,020 | = | 0.0% |
| Participating interests | 280 | €550,020 | €550,020 | = | 0.0% |
| Current assets | 29/58 | €54,711,840 | €62,895,606 | +€8.2m | +15.0% |
| Stocks and contracts in progress | 3 | €7,191,059 | €7,608,617 | +€417,558 | +5.8% |
| Stocks | 30/36 | €7,191,059 | €7,608,617 | +€417,558 | +5.8% |
| Raw materials and consumables | 30/31 | €1,195,798 | €1,281,957 | +€86,159 | +7.2% |
| Work in progress | 32 | €233,723 | €149,910 | -€83,813 | -35.9% |
| Finished goods | 33 | €5,761,538 | €6,176,750 | +€415,212 | +7.2% |
| Amounts receivable within one year | 40/41 | €6,952,622 | €7,899,135 | +€946,513 | +13.6% |
| Trade receivables | 40 | €6,125,932 | €6,284,325 | +€158,393 | +2.6% |
| Other amounts receivable | 41 | €826,690 | €1,614,810 | +€788,120 | +95.3% |
| Current investments | 50/53 | €26,755,525 | €34,181,981 | +€7.4m | +27.8% |
| Other investments | 51/53 | €26,755,525 | €34,181,981 | +€7.4m | +27.8% |
| Cash at bank and in hand | 54/58 | €12,891,020 | €12,458,391 | -€432,629 | -3.4% |
| Deferred charges and accrued income | 490/1 | €921,614 | €747,482 | -€174,132 | -18.9% |
| Total equity and liabilities | 10/49 | €67,841,810 | €75,041,256 | +€7.2m | +10.6% |
| Equity | 10/15 | €62,235,979 | €67,473,576 | +€5.2m | +8.4% |
| Contributions | 10/11 | €916,000 | €916,000 | = | 0.0% |
| Reserves | 13 | €721,256 | €721,256 | = | 0.0% |
| Non-distributable reserves | 130/1 | €27,051 | €27,051 | = | 0.0% |
| Other | 1319 | €27,051 | €27,051 | = | 0.0% |
| Tax-exempt reserves | 132 | €498,109 | €498,109 | = | 0.0% |
| Distributable reserves | 133 | €196,096 | €196,096 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,598,723 | €65,836,320 | +€5.2m | +8.6% |
| Provisions and deferred taxes | 16 | €673,665 | €797,376 | +€123,711 | +18.4% |
| Provisions for liabilities and charges | 160/5 | €673,665 | €797,376 | +€123,711 | +18.4% |
| Pensions and similar obligations | 160 | €504,911 | €507,819 | +€2,908 | +0.6% |
| Other liabilities and charges | 164/5 | €168,754 | €289,557 | +€120,803 | +71.6% |
| Amounts payable | 17/49 | €4,932,166 | €6,770,304 | +€1.8m | +37.3% |
| Amounts payable within one year | 42/48 | €4,855,780 | €6,680,343 | +€1.8m | +37.6% |
| Trade debts | 44 | €1,866,403 | €2,695,706 | +€829,303 | +44.4% |
| Suppliers | 440/4 | €1,866,403 | €2,695,706 | +€829,303 | +44.4% |
| Advances received on contracts in progress | 46 | €1,067,217 | €1,869,047 | +€801,830 | +75.1% |
| Taxes, remuneration and social security | 45 | €1,922,160 | €2,115,590 | +€193,430 | +10.1% |
| Taxes | 450/3 | €97,529 | €9,196 | -€88,333 | -90.6% |
| Remuneration and social security | 454/9 | €1,824,631 | €2,106,394 | +€281,763 | +15.4% |
| Accrued charges and deferred income | 492/3 | €76,386 | €89,961 | +€13,575 | +17.8% |
| Operating income | 70/76A | €53,125,106 | €62,301,233 | +€9.2m | +17.3% |
| Turnover | 70 | €50,456,135 | €59,405,065 | +€8.9m | +17.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €157,098 | €331,399 | +€174,301 | +111.0% |
| Own construction capitalised | 72 | €581,508 | €449,886 | -€131,622 | -22.6% |
| Other operating income | 74 | €1,890,865 | €2,110,883 | +€220,018 | +11.6% |
| Non-recurring operating income | 76A | €39,500 | €4,000 | -€35,500 | -89.9% |
| Operating charges | 60/66A | €46,258,179 | €52,353,805 | +€6.1m | +13.2% |
| Goods for resale, raw materials and consumables | 60 | €25,421,382 | €30,068,951 | +€4.6m | +18.3% |
| Purchases | 600/8 | €25,348,372 | €30,197,578 | +€4.8m | +19.1% |
| Change in stocks: decrease (increase) | 609 | €73,010 | -€128,627 | -€201,637 | |
| Services and other goods | 61 | €6,390,607 | €6,801,459 | +€410,852 | +6.4% |
| Remuneration, social security and pensions | 62 | €11,988,136 | €12,699,247 | +€711,111 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,496,663 | €2,485,045 | -€11,618 | -0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€66,102 | -€1,493 | +€64,609 | +97.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€127,279 | €123,711 | +€250,990 | |
| Other operating charges | 640/8 | €154,772 | €176,885 | +€22,113 | +14.3% |
| Operating profit (loss) | 9901 | €6,866,927 | €9,947,428 | +€3.1m | +44.9% |
| Financial income | 75/76B | €3,242,510 | €1,448,914 | -€1.8m | -55.3% |
| Recurring financial income | 75 | €3,242,510 | €1,448,914 | -€1.8m | -55.3% |
| Income from financial fixed assets | 750 | €1,548 | - | -€1,548 | |
| Income from current assets | 751 | €1,530,663 | €1,291,253 | -€239,410 | -15.6% |
| Other financial income | 752/9 | €1,710,299 | €157,661 | -€1.6m | -90.8% |
| Financial charges | 65/66B | €194,049 | €4,267,952 | +€4.1m | +2099.4% |
| Recurring financial charges | 65 | €194,049 | €4,267,952 | +€4.1m | +2099.4% |
| Other financial charges | 652/9 | €194,049 | €4,267,952 | +€4.1m | +2099.4% |
| Profit (loss) for the period before taxes | 9903 | €9,915,388 | €7,128,390 | -€2.8m | -28.1% |
| Income taxes | 67/77 | €2,524,564 | €1,890,793 | -€633,771 | -25.1% |
| Taxes | 670/3 | €2,529,425 | €1,890,793 | -€638,632 | -25.2% |
| Tax adjustments and reversals of tax provisions | 77 | €4,861 | - | -€4,861 | |
| Profit (loss) for the period | 9904 | €7,390,824 | €5,237,597 | -€2.2m | -29.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,390,824 | €5,237,597 | -€2.2m | -29.1% |
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 4 October 2026 via checked.be.