47 SRL: 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.
47 SRL
Largest movements
- Tangible fixed assets -€27,382
down €27,382 (-5.4%), from €505,637 to €478,255
of which Land and buildings: -€27,764
- Receivables within one year +€13,013
up €13,013 (+1151.6%), from €1,130 to €14,143
of which Trade receivables: +€14,143
- Cash -€11,903
down €11,903 (-28.9%), from €41,128 to €29,225
mainly Other debts (-€79,790) and Net result for the year (-€18,671)
- Other debts -€79,790
down €79,790 (-24.9%), from €320,279 to €240,490
- Debts after one year +€66,252
up €66,252 (+45.3%), from €146,225 to €212,477
of which Financial debts: +€68,771
- Profit (loss) carried forward -€18,671
down €18,671, from €10,218 to -€8,452
- Trade debts +€9,293
up €9,293 (+41.5%), from €22,372 to €31,665
- Tax, wage and social debts +€8,301
up €8,301 (+39.4%), from €21,072 to €29,373
of which Remuneration and social security: +€8,780
- Staff costs +€68,916
up €68,916 (+158.8%), from €43,400 to €112,316
- Other operating charges -€6,552
down €6,552 (-10.9%), from €60,122 to €53,570
- Financial income +€5,090
up €5,090 (+89.5%), from €5,685 to €10,775
- Gross operating margin +€3,686
up €3,686 (+2.0%), from €186,982 to €190,668
- Taxes -€3,423
down €3,423, from €3,010 to -€413
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €560,065 | €539,601 | -€20,464 | -3.7% |
| Fixed assets | 21/28 | €505,637 | €478,255 | -€27,382 | -5.4% |
| Tangible fixed assets | 22/27 | €505,637 | €478,255 | -€27,382 | -5.4% |
| Land and buildings | 22 | €459,368 | €431,604 | -€27,764 | -6.0% |
| Furniture and vehicles | 24 | €46,270 | €46,652 | +€382 | +0.8% |
| Current assets | 29/58 | €54,427 | €61,346 | +€6,918 | +12.7% |
| Stocks and contracts in progress | 3 | €10,608 | €16,152 | +€5,544 | +52.3% |
| Stocks | 30/36 | €10,608 | €16,152 | +€5,544 | +52.3% |
| Amounts receivable within one year | 40/41 | €1,130 | €14,143 | +€13,013 | +1151.6% |
| Trade receivables | 40 | - | €14,143 | +€14,143 | |
| Other amounts receivable | 41 | €1,130 | - | -€1,130 | |
| Cash at bank and in hand | 54/58 | €41,128 | €29,225 | -€11,903 | -28.9% |
| Deferred charges and accrued income | 490/1 | €1,562 | €1,826 | +€264 | +16.9% |
| Total equity and liabilities | 10/49 | €560,065 | €539,601 | -€20,464 | -3.7% |
| Equity | 10/15 | €32,719 | €8,049 | -€24,671 | -75.4% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,218 | -€8,452 | -€18,671 | |
| Investment grants | 15 | €22,500 | €16,500 | -€6,000 | -26.7% |
| Amounts payable | 17/49 | €527,345 | €531,552 | +€4,207 | +0.8% |
| Amounts payable after more than one year | 17 | €146,225 | €212,477 | +€66,252 | +45.3% |
| Financial debts | 170/4 | €143,706 | €212,477 | +€68,771 | +47.9% |
| Trade debts | 175 | €2,519 | - | -€2,519 | |
| Amounts payable within one year | 42/48 | €381,121 | €319,075 | -€62,045 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €17,397 | €17,548 | +€151 | +0.9% |
| Trade debts | 44 | €22,372 | €31,665 | +€9,293 | +41.5% |
| Suppliers | 440/4 | €22,372 | €31,665 | +€9,293 | +41.5% |
| Taxes, remuneration and social security | 45 | €21,072 | €29,373 | +€8,301 | +39.4% |
| Taxes | 450/3 | €15,547 | €15,067 | -€479 | -3.1% |
| Remuneration and social security | 454/9 | €5,525 | €14,305 | +€8,780 | +158.9% |
| Other amounts payable | 47/48 | €320,279 | €240,490 | -€79,790 | -24.9% |
| Remuneration, social security and pensions | 62 | €43,400 | €112,316 | +€68,916 | +158.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,988 | €45,402 | +€3,414 | +8.1% |
| Other operating charges | 640/8 | €60,122 | €53,570 | -€6,552 | -10.9% |
| Gross operating margin | 9900 | €186,982 | €190,668 | +€3,686 | +2.0% |
| Operating profit (loss) | 9901 | €41,471 | -€20,621 | -€62,091 | |
| Financial income | 75/76B | €5,685 | €10,775 | +€5,090 | +89.5% |
| Recurring financial income | 75 | €5,685 | €10,775 | +€5,090 | +89.5% |
| Financial charges | 65/66B | €9,620 | €9,239 | -€381 | -4.0% |
| Recurring financial charges | 65 | €9,620 | €9,239 | -€381 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €37,536 | -€19,084 | -€56,621 | |
| Income taxes | 67/77 | €3,010 | -€413 | -€3,423 | |
| Profit (loss) for the period | 9904 | €34,526 | -€18,671 | -€53,197 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,526 | -€18,671 | -€53,197 |
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 6 October 2026 via checked.be.