GROUP SB: 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.
GROUP SB
Largest movements
- Receivables within one year +€38,471
up €38,471 (+98.2%), from €39,183 to €77,655
of which Other amounts receivable: +€50,772
- Stocks and contracts -€30,722
down €30,722 (-61.7%), from €49,819 to €19,097
- Cash -€13,295
down €13,295 (-27.2%), from €48,790 to €35,495
mainly Receivables within one year (-€38,471) and Investment in fixed assets (net) (-€15,500)
- Tangible fixed assets +€11,547
up €11,547 (+331%), from €3,487 to €15,034
of which Plant, machinery and equipment: +€12,853
- Deferred charges and accrued income -€1,578
down €1,578 (-100%), from €1,578 to €0
- Trade debts -€10,975
down €10,975 (-25.4%), from €43,186 to €32,211
- Debts after one year +€10,386
up €10,386 (+182%), from €5,698 to €16,084
of which Financial debts: +€11,316
- Short-term financial debts +€3,000
new in 2025: €3,000
- Current portion of long-term debt +€2,775
new in 2025: €2,775
- Other debts +€1,523
up €1,523 (+4.0%), from €38,070 to €39,593
- Gross operating margin -€38,974
down €38,974 (-87.2%), from €44,674 to €5,700
- Financial charges -€5,270
down €5,270 (-62.9%), from €8,377 to €3,107
- Financial income +€1,011
up €1,011 (+215%), from €469 to €1,481
- Depreciation +€913
up €913 (+59.3%), from €1,540 to €2,453
- Other operating charges +€546
up €546 (+38.3%), from €1,426 to €1,972
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 | €142,858 | €148,780 | +€5,922 | +4.1% |
| Fixed assets | 21/28 | €3,487 | €16,534 | +€13,047 | +374% |
| Tangible fixed assets | 22/27 | €3,487 | €15,034 | +€11,547 | +331% |
| Land and buildings | 22 | €2,320 | €1,740 | -€580 | -25.0% |
| Plant, machinery and equipment | 23 | €165 | €13,018 | +€12,853 | +7,775% |
| Furniture and vehicles | 24 | €1,001 | €275 | -€726 | -72.5% |
| Financial fixed assets | 28 | - | €1,500 | +€1,500 | |
| Current assets | 29/58 | €139,371 | €132,247 | -€7,125 | -5.1% |
| Stocks and contracts in progress | 3 | €49,819 | €19,097 | -€30,722 | -61.7% |
| Stocks | 30/36 | €49,819 | €19,097 | -€30,722 | -61.7% |
| Amounts receivable within one year | 40/41 | €39,183 | €77,655 | +€38,471 | +98.2% |
| Trade receivables | 40 | €16,327 | €4,027 | -€12,300 | -75.3% |
| Other amounts receivable | 41 | €22,856 | €73,628 | +€50,772 | +222% |
| Cash at bank and in hand | 54/58 | €48,790 | €35,495 | -€13,295 | -27.2% |
| Deferred charges and accrued income | 490/1 | €1,578 | €0 | -€1,578 | -100% |
| Total equity and liabilities | 10/49 | €142,858 | €148,780 | +€5,922 | +4.1% |
| Equity | 10/15 | €51,048 | €50,697 | -€351 | -0.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €32,448 | €32,097 | -€351 | -1.1% |
| Distributable reserves | 133 | €32,448 | €32,097 | -€351 | -1.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €91,810 | €98,083 | +€6,274 | +6.8% |
| Amounts payable after more than one year | 17 | €5,698 | €16,084 | +€10,386 | +182% |
| Financial debts | 170/4 | - | €11,316 | +€11,316 | |
| Other amounts payable | 178/9 | €5,698 | €4,769 | -€929 | -16.3% |
| Amounts payable within one year | 42/48 | €85,614 | €81,999 | -€3,616 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | - | €2,775 | +€2,775 | |
| Financial debts | 43 | - | €3,000 | +€3,000 | |
| Credit institutions | 430/8 | - | €3,000 | +€3,000 | |
| Trade debts | 44 | €43,186 | €32,211 | -€10,975 | -25.4% |
| Suppliers | 440/4 | €43,186 | €32,211 | -€10,975 | -25.4% |
| Taxes, remuneration and social security | 45 | €4,358 | €4,419 | +€61 | +1.4% |
| Taxes | 450/3 | €2,208 | €119 | -€2,089 | -94.6% |
| Remuneration and social security | 454/9 | €2,150 | €4,300 | +€2,150 | +100% |
| Other amounts payable | 47/48 | €38,070 | €39,593 | +€1,523 | +4.0% |
| Accrued charges and deferred income | 492/3 | €497 | €0 | -€497 | -100% |
| Non-recurring operating income | 76A | €8,363 | €0 | -€8,363 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,540 | €2,453 | +€913 | +59.3% |
| Other operating charges | 640/8 | €1,426 | €1,972 | +€546 | +38.3% |
| Gross operating margin | 9900 | €44,674 | €5,700 | -€38,974 | -87.2% |
| Operating profit (loss) | 9901 | €41,708 | €1,275 | -€40,433 | -96.9% |
| Financial income | 75/76B | €469 | €1,481 | +€1,011 | +215% |
| Recurring financial income | 75 | €469 | €1,481 | +€1,011 | +215% |
| Financial charges | 65/66B | €8,377 | €3,107 | -€5,270 | -62.9% |
| Recurring financial charges | 65 | €8,377 | €3,107 | -€5,270 | -62.9% |
| Profit (loss) for the period before taxes | 9903 | €33,801 | -€351 | -€34,152 | |
| Income taxes | 67/77 | €105 | €0 | -€105 | -100% |
| Profit (loss) for the period | 9904 | €33,696 | -€351 | -€34,047 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,696 | -€351 | -€34,047 |
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 14 October 2026 via checked.be.