ROELS: what changed
ROELS
Largest movements
- Receivables within one year +€57,929
up €57,929 (+203%), from €28,561 to €86,490
of which Trade receivables: +€39,653
- Cash -€49,975
down €49,975 (-52.0%), from €96,128 to €46,154
mainly Receivables within one year (-€57,929) and Debts after one year (-€24,532)
- Intangible fixed assets -€15,000
down €15,000 (-50.0%), from €30,000 to €15,000
- Deferred charges and accrued income -€8,852
down €8,852 (-75.4%), from €11,736 to €2,884
- Tangible fixed assets -€7,512
down €7,512 (-10.9%), from €68,989 to €61,477
of which Land and buildings: -€5,872
- Debts after one year -€24,532
down €24,532 (-46.2%), from €53,093 to €28,560
- Other debts -€7,391
down €7,391 (-16.7%), from €44,379 to €36,989
- Reserves +€6,500
up €6,500 (+13.0%), from €50,000 to €56,500
- Current portion of long-term debt +€4,337
up €4,337 (+30.5%), from €14,205 to €18,541
- Trade debts -€4,238
down €4,238 (-37.7%), from €11,244 to €7,006
- Gross operating margin -€56,811
down €56,811 (-43.8%), from €129,825 to €73,014
- Taxes -€28,561
down €28,561 (-84.4%), from €33,856 to €5,295
- Staff costs +€26,884
up €26,884 (+878%), from €3,063 to €29,947
- Depreciation -€6,406
down €6,406 (-22.2%), from €28,919 to €22,512
- Financial charges -€2,025
down €2,025 (-45.2%), from €4,484 to €2,459
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €239,634 | €216,224 | -€23,410 | -9.8% |
| Fixed assets | 21/28 | €103,208 | €80,696 | -€22,512 | -21.8% |
| Intangible fixed assets | 21 | €30,000 | €15,000 | -€15,000 | -50.0% |
| Tangible fixed assets | 22/27 | €68,989 | €61,477 | -€7,512 | -10.9% |
| Land and buildings | 22 | €58,722 | €52,850 | -€5,872 | -10.0% |
| Plant, machinery and equipment | 23 | €7,366 | €5,898 | -€1,468 | -19.9% |
| Furniture and vehicles | 24 | €2,902 | €2,729 | -€173 | -5.9% |
| Financial fixed assets | 28 | €4,219 | €4,219 | = | 0.0% |
| Current assets | 29/58 | €136,426 | €135,528 | -€898 | -0.7% |
| Amounts receivable within one year | 40/41 | €28,561 | €86,490 | +€57,929 | +203% |
| Trade receivables | 40 | €28,561 | €68,214 | +€39,653 | +139% |
| Other amounts receivable | 41 | - | €18,276 | +€18,276 | |
| Cash at bank and in hand | 54/58 | €96,128 | €46,154 | -€49,975 | -52.0% |
| Deferred charges and accrued income | 490/1 | €11,736 | €2,884 | -€8,852 | -75.4% |
| Total equity and liabilities | 10/49 | €239,634 | €216,224 | -€23,410 | -9.8% |
| Equity | 10/15 | €74,544 | €81,252 | +€6,708 | +9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €50,000 | €56,500 | +€6,500 | +13.0% |
| Distributable reserves | 133 | €50,000 | €56,500 | +€6,500 | +13.0% |
| Profit (loss) carried forward | 14 | €5,944 | €6,152 | +€208 | +3.5% |
| Amounts payable | 17/49 | €165,090 | €134,972 | -€30,118 | -18.2% |
| Amounts payable after more than one year | 17 | €53,093 | €28,560 | -€24,532 | -46.2% |
| Financial debts | 170/4 | €53,093 | €28,560 | -€24,532 | -46.2% |
| Amounts payable within one year | 42/48 | €111,997 | €106,412 | -€5,585 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €14,205 | €18,541 | +€4,337 | +30.5% |
| Trade debts | 44 | €11,244 | €7,006 | -€4,238 | -37.7% |
| Suppliers | 440/4 | €11,244 | €7,006 | -€4,238 | -37.7% |
| Taxes, remuneration and social security | 45 | €42,170 | €43,876 | +€1,707 | +4.0% |
| Taxes | 450/3 | €41,981 | €37,854 | -€4,126 | -9.8% |
| Remuneration and social security | 454/9 | €189 | €6,022 | +€5,833 | +3,087% |
| Other amounts payable | 47/48 | €44,379 | €36,989 | -€7,391 | -16.7% |
| Non-recurring operating income | 76A | - | €2,250 | +€2,250 | |
| Remuneration, social security and pensions | 62 | €3,063 | €29,947 | +€26,884 | +878% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,919 | €22,512 | -€6,406 | -22.2% |
| Other operating charges | 640/8 | €5,496 | €6,313 | +€817 | +14.9% |
| Gross operating margin | 9900 | €129,825 | €73,014 | -€56,811 | -43.8% |
| Operating profit (loss) | 9901 | €92,347 | €14,241 | -€78,105 | -84.6% |
| Financial income | 75/76B | - | €220 | +€220 | |
| Recurring financial income | 75 | - | €220 | +€220 | |
| Financial charges | 65/66B | €4,484 | €2,459 | -€2,025 | -45.2% |
| Recurring financial charges | 65 | €4,484 | €2,459 | -€2,025 | -45.2% |
| Profit (loss) for the period before taxes | 9903 | €87,863 | €12,003 | -€75,860 | -86.3% |
| Income taxes | 67/77 | €33,856 | €5,295 | -€28,561 | -84.4% |
| Profit (loss) for the period | 9904 | €54,007 | €6,708 | -€47,299 | -87.6% |
| Profit (loss) for the period to be appropriated | 9905 | €54,007 | €6,708 | -€47,299 | -87.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.