PRIVILEGE SFQ: 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.
PRIVILEGE SFQ
Largest movements
- Stocks and contracts -€107,000
down €107,000 (-47.8%), from €224,000 to €117,000
- Receivables within one year -€102,784
down €102,784 (-8.8%), from €1.2m to €1.1m
of which Other amounts receivable: -€67,559
- Cash +€59,891
new in 2025: €59,891
mainly Depreciation (+€176,689) and Advances received (+€108,177)
- Tangible fixed assets +€27,147
up €27,147 (+2.7%), from €1.0m to €1.0m
of which Leasing and similar rights: +€74,022
- Trade debts -€327,345
down €327,345 (-28.8%), from €1.1m to €809,806
- Advances received +€108,177
up €108,177 (+50.3%), from €215,000 to €323,177
- Profit (loss) carried forward +€87,786
up €87,786 (+17.0%), from €515,164 to €602,950
- Debts after one year -€44,982
down €44,982 (-23.5%), from €191,467 to €146,486
- Short-term financial debts +€35,116
up €35,116 (+28.7%), from €122,251 to €157,367
- Staff costs +€133,284
up €133,284 (+19.3%), from €690,458 to €823,742
- Gross operating margin +€45,125
up €45,125 (+4.0%), from €1.1m to €1.2m
- Other operating charges +€25,162
up €25,162 (+734%), from €3,430 to €28,592
- Depreciation +€19,557
up €19,557 (+12.4%), from €157,131 to €176,689
- Financial income +€12,582
up €12,582 (+2,379%), from €529 to €13,111
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.
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 | €2,396,355 | €2,276,795 | -€119,560 | -5.0% |
| Fixed assets | 21/28 | €1,006,646 | €1,036,979 | +€30,333 | +3.0% |
| Tangible fixed assets | 22/27 | €1,002,697 | €1,029,845 | +€27,147 | +2.7% |
| Plant, machinery and equipment | 23 | €86,218 | €55,387 | -€30,832 | -35.8% |
| Furniture and vehicles | 24 | €155,702 | €116,243 | -€39,459 | -25.3% |
| Leasing and similar rights | 25 | €18,626 | €92,648 | +€74,022 | +397% |
| Other tangible fixed assets | 26 | €742,151 | €765,566 | +€23,416 | +3.2% |
| Financial fixed assets | 28 | €3,948 | €7,134 | +€3,186 | +80.7% |
| Current assets | 29/58 | €1,389,709 | €1,239,816 | -€149,893 | -10.8% |
| Stocks and contracts in progress | 3 | €224,000 | €117,000 | -€107,000 | -47.8% |
| Stocks | 30/36 | €224,000 | €117,000 | -€107,000 | -47.8% |
| Amounts receivable within one year | 40/41 | €1,165,709 | €1,062,925 | -€102,784 | -8.8% |
| Trade receivables | 40 | €552,264 | €517,039 | -€35,225 | -6.4% |
| Other amounts receivable | 41 | €613,445 | €545,885 | -€67,559 | -11.0% |
| Cash at bank and in hand | 54/58 | - | €59,891 | +€59,891 | |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,396,355 | €2,276,795 | -€119,560 | -5.0% |
| Equity | 10/15 | €537,164 | €624,950 | +€87,786 | +16.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €515,164 | €602,950 | +€87,786 | +17.0% |
| Amounts payable | 17/49 | €1,859,191 | €1,651,845 | -€207,346 | -11.2% |
| Amounts payable after more than one year | 17 | €191,467 | €146,486 | -€44,982 | -23.5% |
| Financial debts | 170/4 | €191,467 | €146,486 | -€44,982 | -23.5% |
| Amounts payable within one year | 42/48 | €1,667,723 | €1,505,359 | -€162,364 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €110,076 | €112,684 | +€2,609 | +2.4% |
| Financial debts | 43 | €122,251 | €157,367 | +€35,116 | +28.7% |
| Credit institutions | 430/8 | €122,251 | €157,367 | +€35,116 | +28.7% |
| Trade debts | 44 | €1,137,151 | €809,806 | -€327,345 | -28.8% |
| Suppliers | 440/4 | €1,137,151 | €809,806 | -€327,345 | -28.8% |
| Advances received on contracts in progress | 46 | €215,000 | €323,177 | +€108,177 | +50.3% |
| Taxes, remuneration and social security | 45 | €82,834 | €102,325 | +€19,491 | +23.5% |
| Taxes | 450/3 | - | €10,717 | +€10,717 | |
| Remuneration and social security | 454/9 | €82,834 | €91,608 | +€8,774 | +10.6% |
| Other amounts payable | 47/48 | €412 | €0 | -€412 | -100% |
| Non-recurring operating income | 76A | - | €10,008 | +€10,008 | |
| Remuneration, social security and pensions | 62 | €690,458 | €823,742 | +€133,284 | +19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €157,131 | €176,689 | +€19,557 | +12.4% |
| Other operating charges | 640/8 | €3,430 | €28,592 | +€25,162 | +734% |
| Non-recurring operating charges | 66A | €9,188 | €0 | -€9,188 | -100% |
| Gross operating margin | 9900 | €1,133,698 | €1,178,823 | +€45,125 | +4.0% |
| Operating profit (loss) | 9901 | €273,492 | €149,800 | -€123,691 | -45.2% |
| Financial income | 75/76B | €529 | €13,111 | +€12,582 | +2,379% |
| Recurring financial income | 75 | €529 | €13,111 | +€12,582 | +2,379% |
| Financial charges | 65/66B | €26,099 | €24,210 | -€1,890 | -7.2% |
| Recurring financial charges | 65 | €26,099 | €24,210 | -€1,890 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €247,921 | €138,702 | -€109,219 | -44.1% |
| Income taxes | 67/77 | €62,732 | €50,916 | -€11,816 | -18.8% |
| Profit (loss) for the period | 9904 | €185,189 | €87,786 | -€97,403 | -52.6% |
| Profit (loss) for the period to be appropriated | 9905 | €185,189 | €87,786 | -€97,403 | -52.6% |
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 15 October 2026 via checked.be.