3S: 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
3S
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€369,170
2024 · €250,608+€118,563
Equity
€1.7m
2024 · €1.3m+€369,170
Cash
-
2024 · €0
Balance sheet total
€3.3m
2024 · €3.2m+€70,681
Largest movements
Assets
- Receivables within one year +€253,010
up €253,010 (+799.9%), from €31,629 to €284,639
of which Other amounts receivable: +€250,023
- Tangible fixed assets -€199,293
down €199,293 (-12.1%), from €1.6m to €1.4m
of which Land and buildings: -€218,828
Equity and liabilities
- Reserves +€369,170
up €369,170 (+28.8%), from €1.3m to €1.7m
of which Distributable reserves: +€372,028
- Debts after one year -€287,013
down €287,013 (-19.0%), from €1.5m to €1.2m
- Other debts -€47,236
down €47,236 (-50.7%), from €93,225 to €45,988
Income statement
- Gross operating margin +€156,373
up €156,373 (+28.0%), from €558,247 to €714,620
- Taxes +€55,544
up €55,544 (+46.1%), from €120,559 to €176,103
- Depreciation -€8,099
down €8,099 (-7.5%), from €108,322 to €100,223
- Financial charges -€8,009
down €8,009 (-14.5%), from €55,120 to €47,111
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
€250,608
Gross operating margin
+€156,373
Staff costs
+€298
Depreciation
+€8,099
Other operating charges
-€1,008
Other operating items
+€2,455
Financial income
-€119
Financial charges
+€8,009
Taxes
-€55,544
Result 2025
€369,170
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
+€182,417
Investment
+€87,069
Financing
-€269,486
Cash 2024
€0
From operations (derived)
+€182,417
Net result for the year
+€369,170
Depreciation
+€100,223
Receivables within one year
-€253,010
Deferred charges and accrued income
-€4,963
Provisions
-€953
Trade debts
-€1,298
Tax, wage and social debts
+€25,495
Other debts
-€47,236
Accrued charges and deferred income
-€5,011
Investment (derived)
+€87,069
Investment in fixed assets (net)
+€99,069
Current investments
-€12,000
Financing
-€269,486
Debts after one year
-€287,013
Current portion of long-term debt
+€3,333
Short-term financial debts
+€14,194
Cash 2025
€0
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,188,336 | €3,259,018 | +€70,681 | +2.2% |
| Fixed assets | 21/28 | €3,117,954 | €2,918,662 | -€199,292 | -6.4% |
| Intangible fixed assets | 21 | €338,531 | €338,531 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,642,949 | €1,443,656 | -€199,293 | -12.1% |
| Land and buildings | 22 | €1,594,229 | €1,375,401 | -€218,828 | -13.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €48,720 | €68,255 | +€19,535 | +40.1% |
| Financial fixed assets | 28 | €1,136,475 | €1,136,476 | +€1 | 0.0% |
| Current assets | 29/58 | €70,382 | €340,355 | +€269,973 | +383.6% |
| Amounts receivable within one year | 40/41 | €31,629 | €284,639 | +€253,010 | +799.9% |
| Trade receivables | 40 | €31,620 | €34,606 | +€2,986 | +9.4% |
| Other amounts receivable | 41 | €9 | €250,033 | +€250,023 | +2634597.3% |
| Current investments | 50/53 | €37,000 | €49,000 | +€12,000 | +32.4% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €1,753 | €6,717 | +€4,963 | +283.1% |
| Total equity and liabilities | 10/49 | €3,188,336 | €3,259,018 | +€70,681 | +2.2% |
| Equity | 10/15 | €1,283,530 | €1,652,700 | +€369,170 | +28.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €1,281,530 | €1,650,700 | +€369,170 | +28.8% |
| Tax-exempt reserves | 132 | €52,445 | €49,588 | -€2,858 | -5.4% |
| Distributable reserves | 133 | €1,229,084 | €1,601,112 | +€372,028 | +30.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €15,946 | €14,994 | -€953 | -6.0% |
| Deferred taxes | 168 | €15,946 | €14,994 | -€953 | -6.0% |
| Amounts payable | 17/49 | €1,888,861 | €1,591,324 | -€297,537 | -15.8% |
| Amounts payable after more than one year | 17 | €1,514,127 | €1,227,114 | -€287,013 | -19.0% |
| Financial debts | 170/4 | €1,514,127 | €1,227,114 | -€287,013 | -19.0% |
| Amounts payable within one year | 42/48 | €365,124 | €359,612 | -€5,512 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €219,462 | €222,795 | +€3,333 | +1.5% |
| Financial debts | 43 | €7,508 | €21,703 | +€14,194 | +189.0% |
| Credit institutions | 430/8 | €7,508 | €21,703 | +€14,194 | +189.0% |
| Trade debts | 44 | €7,092 | €5,793 | -€1,298 | -18.3% |
| Suppliers | 440/4 | €7,092 | €5,793 | -€1,298 | -18.3% |
| Taxes, remuneration and social security | 45 | €37,838 | €63,333 | +€25,495 | +67.4% |
| Taxes | 450/3 | €37,838 | €63,333 | +€25,495 | +67.4% |
| Other amounts payable | 47/48 | €93,225 | €45,988 | -€47,236 | -50.7% |
| Accrued charges and deferred income | 492/3 | €9,610 | €4,599 | -€5,011 | -52.1% |
| Remuneration, social security and pensions | 62 | €298 | €0 | -€298 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,322 | €100,223 | -€8,099 | -7.5% |
| Other operating charges | 640/8 | €21,958 | €22,967 | +€1,008 | +4.6% |
| Non-recurring operating charges | 66A | €2,455 | €0 | -€2,455 | -100.0% |
| Gross operating margin | 9900 | €558,247 | €714,620 | +€156,373 | +28.0% |
| Operating profit (loss) | 9901 | €425,214 | €591,431 | +€166,217 | +39.1% |
| Financial income | 75/76B | €120 | €1 | -€119 | -99.3% |
| Recurring financial income | 75 | €120 | €1 | -€119 | -99.3% |
| Financial charges | 65/66B | €55,120 | €47,111 | -€8,009 | -14.5% |
| Recurring financial charges | 65 | €55,120 | €47,111 | -€8,009 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €370,214 | €544,321 | +€174,107 | +47.0% |
| Transfer from deferred taxes | 780 | €953 | €953 | = | 0.0% |
| Income taxes | 67/77 | €120,559 | €176,103 | +€55,544 | +46.1% |
| Profit (loss) for the period | 9904 | €250,608 | €369,170 | +€118,563 | +47.3% |
| Transfer from tax-exempt reserves | 789 | €2,858 | €2,858 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €253,465 | €372,028 | +€118,563 | +46.8% |
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 28 September 2026 via checked.be.