Roy Greefs: 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.
Roy Greefs
Largest movements
- Cash -€70,902
down €70,902 (-45.6%), from €155,598 to €84,695
mainly Investment in fixed assets (net) (-€51,850) and Receivables after one year (-€33,366)
- Financial fixed assets +€51,850
new in 2025: €51,850
- Receivables after one year +€33,366
new in 2025: €33,366
- Reserves +€19,433
up €19,433 (+12.8%), from €151,656 to €171,089
- Tax, wage and social debts -€5,830
no longer reported in 2025 (was €5,830)
- Gross operating margin -€8,765
down €8,765 (-22.9%), from €38,232 to €29,467
- Taxes -€1,879
down €1,879 (-18.7%), from €10,030 to €8,150
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 | €159,485 | €173,100 | +€13,615 | +8.5% |
| Fixed assets | 21/28 | €3,888 | €54,190 | +€50,302 | +1,294% |
| Tangible fixed assets | 22/27 | €3,888 | €2,340 | -€1,548 | -39.8% |
| Plant, machinery and equipment | 23 | €1,195 | €729 | -€466 | -39.0% |
| Furniture and vehicles | 24 | €2,692 | €1,611 | -€1,082 | -40.2% |
| Financial fixed assets | 28 | - | €51,850 | +€51,850 | |
| Current assets | 29/58 | €155,598 | €118,910 | -€36,687 | -23.6% |
| Amounts receivable after more than one year | 29 | - | €33,366 | +€33,366 | |
| Other amounts receivable | 291 | - | €33,366 | +€33,366 | |
| Amounts receivable within one year | 40/41 | - | €850 | +€850 | |
| Other amounts receivable | 41 | - | €850 | +€850 | |
| Cash at bank and in hand | 54/58 | €155,598 | €84,695 | -€70,902 | -45.6% |
| Total equity and liabilities | 10/49 | €159,485 | €173,100 | +€13,615 | +8.5% |
| Equity | 10/15 | €153,656 | €173,089 | +€19,433 | +12.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €151,656 | €171,089 | +€19,433 | +12.8% |
| Distributable reserves | 133 | €151,656 | €171,089 | +€19,433 | +12.8% |
| Amounts payable | 17/49 | €5,830 | €12 | -€5,818 | -99.8% |
| Amounts payable within one year | 42/48 | €5,830 | €12 | -€5,818 | -99.8% |
| Taxes, remuneration and social security | 45 | €5,830 | - | -€5,830 | |
| Taxes | 450/3 | €5,830 | - | -€5,830 | |
| Other amounts payable | 47/48 | - | €12 | +€12 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,466 | €1,548 | +€82 | +5.6% |
| Other operating charges | 640/8 | €182 | €186 | +€4 | +2.1% |
| Gross operating margin | 9900 | €38,232 | €29,467 | -€8,765 | -22.9% |
| Operating profit (loss) | 9901 | €36,584 | €27,733 | -€8,850 | -24.2% |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €36,449 | €27,583 | -€8,865 | -24.3% |
| Income taxes | 67/77 | €10,030 | €8,150 | -€1,879 | -18.7% |
| Profit (loss) for the period | 9904 | €26,419 | €19,433 | -€6,986 | -26.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,419 | €19,433 | -€6,986 | -26.4% |
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 30 October 2026 via checked.be.